贵州财经大学学报
貴州財經大學學報
귀주재경대학학보
Journal of Guizhou College of Finance and Economics
2015年
5期
58-68
,共11页
网络借贷%间融延伸%匹配机制和效率%小微企业
網絡藉貸%間融延伸%匹配機製和效率%小微企業
망락차대%간융연신%필배궤제화효솔%소미기업
online lending%indirect -financing extension%matching mechanism and efficiency%small and micro businesses
网络借贷是传统借贷体系的有益补充,具有间接融资的延伸作用,能满足小微企业小额、快速、短期的借款需求,解决小微企业融资需求与传统借贷体系难以匹配的问题。基于网络借贷的间融延伸的特征,探析网络借贷的匹配机制及效率的机理。通过国内典型的 P2P 网络借贷平台———人人贷的交易数据,从小微企业的融资可得性和融资成本的角度,验证网络借贷的间融延伸作用,并对网络借贷的匹配机制和效率进行探究。实证结果表明,网络借贷平台能突破地域限制,有效匹配小微企业的小额贷款需求,达到间融延伸的目的。信用等级较高、融资需求合理的小微企业获得贷款的概率更高、融资成本更低。
網絡藉貸是傳統藉貸體繫的有益補充,具有間接融資的延伸作用,能滿足小微企業小額、快速、短期的藉款需求,解決小微企業融資需求與傳統藉貸體繫難以匹配的問題。基于網絡藉貸的間融延伸的特徵,探析網絡藉貸的匹配機製及效率的機理。通過國內典型的 P2P 網絡藉貸平檯———人人貸的交易數據,從小微企業的融資可得性和融資成本的角度,驗證網絡藉貸的間融延伸作用,併對網絡藉貸的匹配機製和效率進行探究。實證結果錶明,網絡藉貸平檯能突破地域限製,有效匹配小微企業的小額貸款需求,達到間融延伸的目的。信用等級較高、融資需求閤理的小微企業穫得貸款的概率更高、融資成本更低。
망락차대시전통차대체계적유익보충,구유간접융자적연신작용,능만족소미기업소액、쾌속、단기적차관수구,해결소미기업융자수구여전통차대체계난이필배적문제。기우망락차대적간융연신적특정,탐석망락차대적필배궤제급효솔적궤리。통과국내전형적 P2P 망락차대평태———인인대적교역수거,종소미기업적융자가득성화융자성본적각도,험증망락차대적간융연신작용,병대망락차대적필배궤제화효솔진행탐구。실증결과표명,망락차대평태능돌파지역한제,유효필배소미기업적소액대관수구,체도간융연신적목적。신용등급교고、융자수구합리적소미기업획득대관적개솔경고、융자성본경저。
Online lending is a beneficial supplement of traditional lending system,with the extension functionality of indirect lending which satisfies micro enterprises’financing needs.It can solve the problem that the endowment and financing demand of micro enterprise is difficult to match in the traditional lending system.One must broaden the financing channels to solve the financing bottleneck problem.This paper argues that Based on the characteristics of indirect -financing extension, this paper analyzed the matching mechanism and efficiency of the online lending platform.Using the transaction data of domestic typical P2P lending platform - Renrendai,we explored the matching mechanism and efficiency of the platform and verified its indirect -financing extension functionally,all from the perspectives of small micro enterprise financing availability and cost of financing.The empirical results show that the online lending platform can break through geographical restrictions,matching small loans for small micro enterprise.Small micro enterprises with high credit ratings and reasonable financing demands have a high probability of lending loans with less cost.