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本文从信息不对称和贷款人类型的视角,选取“人人贷”平台数据,对网络借贷平台上贷款人羊群效应及其影响因素进行了实证研究。结果发现,网络借贷平台上存在着贷款人羊群效应,2012年后,平台采取的风险控制措施未能达到预期效果。信息不对称是影响贷款人羊群效应的重要因素,其中,硬信息的不对称会强化贷款人羊群效应,在硬信息不足的情况下,软信息的不对称也会加剧这种效应。贷款人专业能力对羊群效应具有显著影响,贷款频次较低或新近注册的贷款人表现出更强的羊群效应。
Based on the information asymmetry and the type of lender, this paper selects the data of “LGFV” platform and makes empirical research on the herding effect and its influencing factors on the lender platform. As a result, it is found that there are lenders’ herd effect on the platform of online lending. After 2012, the risk control measures taken by the platform failed to achieve the expected results. Asymmetric information is an important factor that affects the herding effect of lenders. The asymmetry of hard information will strengthen the herding effect of lenders. In the case of insufficient information, the asymmetry of soft information will aggravate this effect. Lender expertise has a significant effect on herding, with lower loan rates or newly registered lenders showing stronger herding.