Research on the External Environmental Impact Factors of P2P Lending Industry's Regional Differences in China

Abstract

Recently, the Internet Finance is developing at a high speed as the fusion and innovation product of financial industry and Internet industry. However, the financial ecology and policy environment is different in each region of China. As a result, the development of Internet Finance in different areas of China have presented obvious regional differences. As an important form of Internet Finance, the development of P2P (Peer-to-Peer) lending also presents regional differences. Related research has been mainly focused on the risks, legal supervision and development status of P2P lending. There is lack of research on the track of development, regional differences and impacts of P2P lending. In this paper, it is based on each area's comprehensive development index of P2P lending in 2014 from www.WDZJ.com. Through the measurement and calculation of economic environment index, credit environment index, financial environment index, legal environment index and education level and regression analysis of these indexes, it is found that all these five indexes have indirectly caused the regional differences as the external environmental factors in different aspects. Furthermore, economic environment index, credit environment index and financial environment index have been identified as direct external environmental impact factors and its mechanism have been also studied.