论文总字数：35618字

摘 要

近年来，越来越多的学者开始关注P2P网贷这一种新兴的金融电子商务平台。但是近几年随着网络借贷市场规模的扩张，监管缺失等问题使网贷市场存在的风险逐步暴露，而出借人和借款人在参与网络借款的过程中平台的甄别能力相当有限，对于P2P网络借贷平台来说，综合实力是借款人选择贷款交易平台的关键因素。所以采取有效可行措施对网贷平台进行综合评价，是引导互联网金融健康发展、提高网贷市场效率的当务之急。

对于P2P网络借贷平台的综合实力评级分析，本文从影响平台综合实力的因素入手，探讨了影响企业综合竞争力的因素。根据P2P网贷平台的安全性、流动性、盈利性和成长性的特点，最终从资源因素、盈利性因素、风险管理因素以及发展因素来对其综合实力进行分析。基于以往学者的研究指标，本文选取15个基于四个二级指标的三级评级指标，构建P2P网络借贷平台综合实力评级指标体系，并根据网贷之家和网贷天眼的数据随机选出35家我国P2P网贷平台，运用因子分析法，对其综合实力进行评级。研究发现：规模因素、成长因素、地区因素和盈利因素是影响P2P网贷平台综合实力的主要因素；我国东部地区P2P网贷平台综合实力排名优势相对明显，但一些中西部地区的平台也在慢慢兴起；在人们的认知度方面，上市系平台得分较高，再是国资系和民营系，银行系和风投系其次；从综合实力得分的角度来看，中国P2P网络借贷平台的发展潜力仍然很大。

根据实证结果，本文从政府、平台自身以及参与者本身提出了建议。（1）政府应强化监管力度，加快合规进程，适时引导平台兼并重组或劣币退出；（2）政府应重视P2P网贷平台的健康运作，助力平台扬长避短；（3）P2P网贷平台应明确定位，深耕业务；（4）注重区域均衡发展，缩减平台发展区域差异；（5）平台参与者提高风险意识，正确识别优质网贷平台。本文的研究结果即为平台参与者进行投资与借款的提供了客观的依据，也为政府P2P网贷行业的管理提供了方向，有助于我国P2P网贷平台综合实力的提升。

关键词：P2P网络借贷；平台综合实力；因子分析法

Analysis of The Comprehensive Strength of P2P Network Loan Platform

Abstract

不加页眉

In recent years, more and more scholars begin to pay attention to P2P network loan as a new financial e-commerce platform. However, in recent years, with the expansion of the scale of the online lending market and the lack of regulation, the risks in the online lending market are gradually exposed, and the ability of the lenders and borrowers to screen the platform in the process of participating in the online borrowing is quite limited. For P2P network lending platform, comprehensive strength is the key factor for the borrower to choose the loan trading platform. Therefore, it is an urgent task to take effective and feasible measures to comprehensively evaluate the network loan platform, to guide the healthy development of Internet finance and to improve the efficiency of Internet loan market.

For P2P network loan platform comprehensive strength rating analysis, this paper starts from the factors that affect the platform comprehensive strength, referring to the enterprise comprehensive competitiveness factors, according to the P2P network loan platform security, liquidity, profitability and growth characteristics, Finally, the comprehensive strength is analyzed from resource factor, profit factor, risk management factor and development factor. Combined with the research indexes of previous scholars, this paper selects 15 three-level rating indexes from four secondary indexes, and constructs the comprehensive strength rating index system of P2P network loan platform. According to the data of net loan house and net loan eye, 35 representative P2P network loan platforms in our country are selected, and their comprehensive strength is rated by factor analysis. The results show that: operational factors, liquidity factors, regional factors and profit factors are the main factors that affect the comprehensive strength of P2P network loan platform; The comprehensive strength ranking advantage of P2P network loan platform in eastern China is relatively obvious, but some platforms in the central and western regions are also rising slowly. In the aspect of recognition, the platform of listing is higher, then the department of state-owned capital and private sector, the department of banking and the department of venture capital; from the comprehensive strength score, there is still a lot of room for the development of comprehensive strength of P2P network lending platform in our country.

According to the empirical results, this paper puts forward some suggestions from the government, the platform itself and the participants themselves. (1) the government should strengthen the supervision and control, speed up the compliance process, guide the platform merger and reorganization or exit at the right time; (2) the government should attach importance to the healthy operation of P2P network loan platform, and help the platform to strengthen its strengths and avoid its weaknesses; (3) the P2P network loan platform should be clearly positioned and deeply ploughed in business; (4) pay attention to regional balanced development and reduce the regional differences in platform development; (5) platform participants improve risk awareness, correctly identify high-quality online lending platform. The results of this paper not only provide an objective basis for the platform participants to invest and borrow, but also provide a direction for the management of the government P2P network loan industry, which is helpful to the improvement of the comprehensive strength of the P2P network loan platform in China.

Keywords: P2P Network Lending; Platform Comprehensive Strength ; Factor Analysis

目 录

摘 要 I

Abstract II

第一章 绪 论 1

1.1 研究背景及意义 1

1.2 研究思路及方法 1

1.3 研究内容及论文框架 2

第二章 文献综述 3

2.1 P2P网络借贷的研究 3

2.2 P2P网络借贷综合实力的研究 4

2.3 P2P网贷平台综合实力评级分析 4

2.4 文献评述 5

第三章 P2P网贷平台综合实力影响因素分析 6

3.1 影响P2P网络借贷平台综合实力的内部因素 6

3.1.1 内部资源 6

3.1.2 盈利能力 6

3.1.3 风险管理水平 6

3.1.4 发展能力 7

3.2 影响P2P网络借贷平台综合实力的外部因素 7

第四章 P2P网络借贷平台综合实力指标体系的构建 8

4.1 指标体系构建原则 8

4.2 评级指标体系选取 8

4.3 评级指标体系的构建 9

第五章 实证分析 11

5.1 评级方法及数据来源 11

5.1.1 评级方法的选取 11

5.1.2 评级方法的数学原理 12

5.1.3 数据来源 12

5.2 描述性统计 12

5.3 实证结果分析 13

5.2.1 KMO检验与Bartlett 检验结果 13

5.2.2 变量共同度 13

5.2.3 解释的总方差 14

5.2.4 旋转成分矩阵 15

5.2.5 因子得分 16

5.2.6 实证结果 17

第六章 结论及建议 19

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