P2P网络借贷中社会资本对借款者违约风险的影响——以Prosper为例  

The Influence of Social Capitals on Borrower's Default Risk in P2P Network Lending——A Case Study of the Prosper

作　　者：缪莲英[1] 陈金龙[1] 

机构地区：[1]华侨大学工商管理学院

出　　处：《金融论坛》2014年第3期9-15,66,共8页Finance Forum

基　　金：社会资本视角下的企业投融资行为研究;教育部人文社科基金(12YJA630012);企业社会资本度量;演化及其对投融资影响研究;福建省自然基金(2011J01382)

摘　　要：本文将推荐信任与小组关系、朋友关系共同作为社会资本的替代变量,分析其对借款者违约风险的制约机制,同时利用Prosper网络借贷平台的数据,实证检验社会资本对借款者违约风险的影响。研究结果表明,在P2P网络借贷中,社会资本的存在能够降低借款者违约风险,无论是通过加入小组,还是增加投资者中朋友的个数或借款列表被推荐的次数,都可以提高借款者的社会资本,充分发挥社会资本的甄别、监督以及社会惩罚作用,降低违约风险发生的可能性。P2P网络借贷平台可以通过增加借款者社会资本的机制设计,降低违约风险,最终降低行业整体的违约率。This paper uses recommendation trust and group relationship as the alternative variables of social capitals to analyse the mechanism that social capitals constrain borrower＇s default risk, and empirically examines the influence of social capitals on borrower＇s default risk based on the data of the Prosper network lending platform. The results of the paper show that the social capitals can reduce borrower＇s default risk in P2P network lending. Joining the group and increasing the number of friends among investors or the recommended times of borrowing list can increase borrower＇s social capitals, and are conducive to the exertion of the selective, supervisory and punitive functions of social capitals, so as to reduce the possibility of default risk. P2P network lending platform can reduce default risk, and ultimately reduce the overall default rate of network lending industry by mechanism design to increase borrower＇s social capitals.

关 键 词：P2P网络借贷 社会资本 制约机制 违约风险 

分 类 号：F713.36[经济管理—产业经济] F830.5