中文摘要：

互联网为基础的P2P网络借贷便利了借贷双方,但也容易造成网络借贷的逆向选择,即形成网络借贷的＂羊群效应＂。基于＂人人贷＂公布的不同借款者的借款数据,构建logistic回归模型,研究当前投标次数对后期投标可能带来的影响,验证P2P网络借贷平台＂羊群效应＂的存在。探究＂羊群效应＂形成机制和影响因素,并提出完善征信体制、明确监管主体、加强行业自律等破解对策。

英文摘要：

The Internet-based P2 P online lending facilitates both sides of borrowers and lenders,but it is easy to cause the adverse selection of online lending,i. e. forming online lending ＂herding effect＂. Based on the loan data of different borrowers obtained from ＂Renrendai. com＂,the logistic regression model is constructed to study the impact of current bid on the following bid,and to verify the existence of the ＂herding effect＂of the P2 P online lending platform. Based on exploring the formation mechanism and the influencing factors of the ＂herding effect＂,the paper proposes such countermeasures as improving the credit reference regime,specifying the regulatory body,and strengthening the industry self-regulation.