企业所有权结构对中国网络对等借贷绩效的影响

IF 1.5 4区经济学 Q2 ECONOMICS

Frontiers of Economics in China Pub Date : 2020-04-18 DOI:10.3868/S060-011-020-0004-0

G. Xie

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引用次数: 2

摘要

中国出现了P2P借贷的急剧增长，在信贷不足的情况下，中国P2P借贷市场的规模仅用了三年时间就达到了美国的四倍和英国的十倍。文献表明，股权结构是影响P2P借贷公司绩效的重要因素，但对其潜在机制的研究还不够。本研究分析了2016年6月至2017年3月期间P2P借贷公司的数据。研究结果表明，尽管所有权结构对贷款人和借款人的营业额和数量的直接影响很小，但它调节了公司年龄、利率和贷款期限对公司业绩的影响。这些结果丰富了产权理论，并揭示了在存在制度缺陷的情况下，不同所有权结构的P2P贷款公司如何取得成功。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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How Firms' Ownership Structure Impacts Online Peer-to-Peer Lending Performance in China

A dramatic surge in online peer-to-peer (P2P) lending emerged in China, where (under conditions of credit deficiency) it took only three years for the size of the P2P lending market in China to reach four times that of the United States and ten times that of the United Kingdom. The literature indicates that ownership structure is an important factor that influences P2P lending firms’ performance, while research on the underlying mechanisms remain insufficient. This study analyzes the data of P2P lending companies between June 2016 and March 2017. The results demonstrate that although ownership structure has minimal direct effect on the turnover volume and number of lenders and borrowers, it moderates the effects of firm age, interest rate, and loan term on firm performance. These results enrich the property theory and shed light on how P2P lending firms with different ownership structures could succeed when there is institutional deficiency.

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来源期刊

Frontiers of Economics in China ECONOMICS-

CiteScore

1.20

自引率

0.00%

发文量

373

期刊介绍： Frontiers of Economics in China seeks to provide a forum for a broad blend of peer-reviewed academic papers of economics in order to promote communication and exchanges between economists in China and abroad. It will reflect the enormous advances that are currently being made in China in the field of economy and society. In addition, this journal also bears the mission of introducing the academic achievements on Chinese economics research to the world.