向虹宇,廖理,王正位

• 1:清华大学五道口金融学院

摘要(Abstract)：

本文使用我国P2P平台人人贷网站的数据,研究注意力对P2P投资者投资决策的影响。研究发现,当可选借款标的数量增加,使得投资者的注意力下降时,名义利率对投资决策影响增加,名义利率以外的信息对投资决策的影响降低。这是因为当注意力下降时,投资者更关注名义利率,同时忽略更多名义利率以外的信息。这使得投资者忽略更多关于借款人风险的信息,出现在预期收益率相同时,偏好高风险借款标的行为偏差,增加投资者和借款人之间的信息不对称。本文立足P2P市场这一适合研究投资者注意力对投资决策影响的场景,强调了注意力在P2P投资决策中的重要地位,进一步探讨了注意力在金融投资决策中的作用。

关键词(KeyWords)： 投资者注意力;P2P网络借贷;信息不对称

Abstract:

Keywords:

基金项目(Foundation): 国家社会科学基金重大项目“互联网金融理论、实践与政策研究”(基金编号:15ZDA029)的资助

作者(Author): 向虹宇,廖理,王正位

DOI: 10.16513/j.cnki.cje.2017.03.004

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