P2P网络借贷投资行为影响因素的实验研究

硕士学位论文 论文题目 P2P网络借贷投资行为影响因素的实验研究 研究生姓名 周 曼 指导教师姓名 范庭卫 专业名称 应用心理学 研究方向 组织与管理心理学 论文提交日期 2013年4月 P2P网络借贷投资行为影响因素的实验研究 中文摘要 I P2P网络借贷投资行为影响因素的实验研究 中文摘要 P2P网络借贷作为一种新兴的微金融融资方式，使得在线市场中个人之间的借贷成为可能。在线市场交易通常被认为是具有不确定性和风险性的。那么出借人的投资行为是否是理性的，是什么因素影响着出借人的投资行为，其所占的比重又有多大？基于说服的详尽可能性模型，本文选取了信用等级和照片信息分别作为中心路径与次级线索的指标，检验其对出借人投资行为的影响程度。 本研究由两个实验组成。实验一是一个单因素被试内设计，旨在考察当不考虑信用等级的情况下，基于借款人面孔感知可信度的评价对出借人投资行为的影响。研究结果表明，当缺乏中心线索的时候，照片信息呈现的借款人感知可信度显著影响出借人的投资行为，即高感知可信度组的出借金额显著高于低感知可信度组和无感知可信度组的出借金额。实验二是一个4×2的被试间设计，旨在考察当信用等级明确时，出借人的投资行为是否还会受到基于借款人面孔感知可信度评价的影响。研究结果遵循了详尽可能性模型的假设，即当中心线索（信用等级）显著时，次级线索（感知可信度）对出借金额的影响不显著。而现场数据分析的结果则显示，网络平台中的男性借款人要显著多于女性借款人。大部分借款人的信用等级偏低，信用建立机制有待完善。最终的研究结果显示出借人的投资行为是理性的，信用等级和感知可信度都会影响出借人的投资行为，但是作为次级线索的感知可信度只有在中心路径不明显的时候才起作用。

关键词：P2P网络借贷；详尽可能性模型；不确定性减少理论；投资行为 作 者：周 曼 指导老师：范庭卫 Abstract The experimental research of influencing factors of P2P lending investment behavior

II The experimental research of influencing factors of P2P lending investment behavior Abstract As a new micro-lending financing, P2P lending gives a chance to both lenders and borrowers on the market. Online trading is often thought of has the uncertainty and risk. Is the lender's investment behavior rational? what factors affect the lender's investment behavior? How much dose it share? Based on the elaboration likelihood model of persuasion, this paper selected the credit rating and photo information as center path respectively and clues as secondary indicators, test its influence on the degree of lenders’ investment behavior. This study consists of two experiments. Experiment one is a single factor within subjects design, aims to examine when not consider the credit rating, whether only based on the borrowers’ facial trustworthiness will affect lenders’ investment behavior. Research results show that when lack of central clue, lenders’ investment behavior is significantly influenced by the borrower's perceived credibility of photo information, that is, the loan amount of high perceived credibility group is significantly higher than the loan amount of low perceived credibility group as well as no perceived credibility group. Experiment 2 is a 2×4 between group design, aim to see when the credit rating is clear, whether the investment behavior of lenders will still be affected by borrowers’ facial trustworthiness. Results follow the elaboration likelihood model assumption, namely when the center clues (credit rating) is significantly, the secondary clue (perceived trustworthiness)has no significant impact on loan amount. Field data analysis result indicates that the number of women borrowers are significantly more than men borrower in the network platform. Most of the borrower's credit rating is low, and credit mechanism need to be established.The final results show that a credit rating and perceived trustworthiness will affect lenders’ final investment behavior, but as the secondary clue, the perceived trustworthiness works only when center path is not obvious. Key words: P2P lending; Elaboration likelihood model; Uncertainty reduction theory; Investment behavior Written by Zhou Man Supervised by Fan Tingwei 目 录 1 引 言 ........................................................................................................................ 1 2 文献综述 .................................................................................................................... 4 2.1 国内外网络借贷平台相关研究 .......................................................................... 4 2.1.1 国外研究进展 ........................................................................................... 4 2.1.2 国内研究进展 ........................................................................................... 7 2.2 不确定性减少理论（URT） .............................................................................. 8 2.2.1 理论提出 ................................................................................................... 8 2.2.2 基本内容 ................................................................................................... 9 2.3 详尽可能性模型（ELM） ............................................................................... 10 2.4 信任理论 ............................................................................................................11 2.4.1 信任的定义 ..............................................................................................11 2.4.2 信任的分类 ............................................................................................. 13 2.4.3 感知可信度（perceived trustworthiness） .............................................. 15 3 问题提出及研究意义 ............................................................................................... 18 3.1 问题提出 ........................................................................................................... 18 3.2 研究意义 ........................................................................................................... 19 3.2.1 理论意义 ................................................................................................. 19 3.2.2 实践意义 ................................................................................................. 19 3.3 可能的创新点 ................................................................................................... 19 4 现场数据分析 ........................................................................................................... 21 5 实验设计 .................................................................................................................. 22 5.1 预备实验 ........................................................................................................... 22 5.1.1 实验材料的准备...................................................................................... 22 5.1.2 基于面孔的感知可信度评定 .................................................................. 22 5.2 实验一：感知可信度对出借人投资行为的影响 ............................................. 24 5.2.1 研究目的 ................................................................................................. 24