Guiding Interest Rate, Transaction Efficiency and Financial Resource Allocation: Empirical Study on P2P Online-lending Market

Achieving the effective allocation of financial resources is an important guarantee for the sustainable development of online lending platforms. This paper constructs an evaluation system of the financial resource allocation efficiency of the online lending platforms by factor analysis. And empirical research shows that there is a negative correlation between the guiding price and the financial resources allocation efficiency, but a positive correlation between the guiding price and the platform transaction efficiency. It means that a high guiding price can improve the transaction efficiency of the online lending platform, but it can lead to the invalid allocation of financial resources. In addition, it’s also found that private platforms without endorsement typically pay more attention to the transaction efficiency while ignoring the resource allocation efficiency. Therefore, in order to avoid the idling of funds and invalid allocation of financial resources, online lending platforms need to weigh the pros and cons and set a reasonable guiding price.