关键词: P2P网贷平台, 运营效率, 分层技术, DEA-Tobit模型

Abstract: Online P2P lending market has gradually gone into a healthy growth period. How to improve self- operational efficiency to standing out from the competition is becoming very important for platform. The paper uses hierarchical DEA-CCR method to evaluate the operation efficiency of P2P network lending platform, and uses Tobit model to analyze the specific factors affecting the operation efficiency of the platform. The results show that the operating efficiency of the platform in China′s online lending industry is generally low, the operating capacity needs to be improved, the input redundancy and output shortage exist, the state-owned enterprise platform has not made full use of its advantages, there is a “U” -shaped relationship between the lending rate and the operating efficiency of the platform, the brand score and background of the online lending platform have no significant negative impact on operational efficiency; there is no brand effect in online P2P lending market, and brand reputation cannot increase the trust of investors, nor can it reflect the real operating efficiency of the platform; the increase of borrowing period and platform safety factor is beneficial to improve the operational efficiency of the platform, and the greater the platform safety factor and the more supervisors, the higher the operational efficiency of the platform will be; leverage integral and transparency integral have a negative impact on operational efficiency, and the disclosure of information does not play a role in facilitating transactions; because the disclosure of information on the Internet lending platform has not reached a unified standard and effective level, the information disclosed does not attract enough attention of investors. Therefore, the CBRC should strengthen the guidance of information disclosure and establish a system model to promote the platform′s information disclosure; the state-owned enterprises platform should make full use of its strong capital strength and system dividends to promote its own operational capacity.

Key words: online P2P lending platform, operational efficiency, layered technology, DEA-Tobit model