资源描述：
《P2P网络借贷互联网金融外文文献翻译中英文》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。
1、外文文献翻译(含：英文原文及中文译文译文字数4400多字)文献出处：EmekterR,TuY,JirasakuldechB,etal.EvaluatingcreditriskandloanperformanceinonlinePeer-to・Peer(P2P)lending[J],AppliedEconomics,2015,47(1):54-70.英文原文EvaluatingcreditriskandloanperformanceinonlinePeer-to-Peer(P2P)lendingRizaEmekter,YanbinTu,BenjamasJiras
2、akuldech,MinLuAbstractOnlinePeer-to-Peer(P2P)lendinghasemergedrecently・Thismicroloanmarketcouldoffercertainbenefitstobothborrowersandlenders.UsingdatafromtheLendingClub,whichisoneofthepopularonlineP2Plendinghouses,thisarticleexplorestheP2Ploancharacteristics,evaluatestheircreditrisk
3、andmeasuresloanperformances・Wefindthatcreditgrade,debt-to-incomeratio,FICOscoreandrevolvinglineutilizationplayanimportantroleinloandefaults・Loanswithlowercreditgradeandlongerdurationareassociatedwithhighmortalityrate.TheresultisconsistentwiththeCoxProportionalHazardtestwhichsuggests
4、thatthehazardrateorthelikelihoodoftheloandefaultincreaseswiththecreditriskoftheborrowers.Finally,wefindthathigherinterestrateschargedonthehighriskborrowersarenotenoughtocompensateforhigherprobabilityoftheloandefault.TheLendingClubmustfindwaystoattracthighFICOscoreandhigh-incomeborro
5、wersinordertosustaintheirbusinesses・Keywords:Peer-to-Peerlending;creditgrade;FICOscore;defaultrisk1IntroductionWiththeadventofWeb2.0,ithasbecomeeasytocreateonlinemarketsandvirtualcommunitieswithconvenientaccessibilityandstrongcollaboration.OneoftheemergingWeb2.0applicationsistheonli
6、nePeer-to-Peer(P2P)lendingmarketplaces,wherebothlendersandborrowerscanvirtuallymeetforloantransactions.Suchmarketplacesprovideaplatformserviceofintroducingborrowerstolenders,whichcanoffersomeadvantagesforbothborrowersandlenders.Borrowerscangetmicroloansdirectlyfromlenders,andmightpa
7、ylowerratesthancommercialcreditalternatives・Ontheotherhand,lenderscanearnhigherratesofreturncomparedtoanyothertypeoflendingsuchascorporatebonds,bankdepositsorcertificateofdeposits・OneoftheproblemsinonlineP2Plendingisinformationasymmetrybetweentheborrowerandthelender.Thatis,thelender
8、doesnotknowtheborro
