地理科学 ›› 2021, Vol. 41 ›› Issue (5): 747-758.doi: 10.13249/j.cnki.sgs.2021.05.002

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中国互联网金融企业生存的时空差异和影响因素——以P2P网贷行业为例

汪明峰1,2,3(), 赵玉萍1,3   

  1. 1.华东师范大学中国现代城市研究中心,上海 200062
    2.华东师范大学中国行政区划研究中心,上海 200241
    3.华东师范大学城市与区域科学学院,上海 200241
  • 收稿日期:2020-01-09 修回日期:2020-04-12 出版日期:2021-05-10 发布日期:2021-07-15
  • 作者简介:汪明峰(1977−),男,浙江绍兴人,教授,博导,主要从事城市地理与互联网地理研究。E-mail: mfwang@re.ecnu.edu.cn
  • 基金资助:
    国家社会科学基金重点项目资助(19AZD007)

Spatio-temporal Variations of Internet Finance Enterprises’ Survival and Their Influence Factors in China: A Case Study of P2P Lending

Wang Mingfeng1,2,3(), Zhao Yuping1,3   

  1. 1. Center for Modern Chinese City Studies, East China Normal University, Shanghai 200062, China
    2. Center for Studies of Administrative Division of China, East China Normal University, Shanghai 200241, China
    3. School of Urban and Regional Science, East China Normal University, Shanghai 200241, China
  • Received:2020-01-09 Revised:2020-04-12 Online:2021-05-10 Published:2021-07-15
  • Supported by:
    National Social Science Foundation of China(19AZD007)

摘要:

以P2P网贷平台为例,探究中国互联网金融企业生存的时空差异及其影响因素。结果表明:① P2P网贷平台寿命的城市差异较大,平台上线和退出主要集中在深圳、上海、北京及其周边城市。② 平台经验和较高的城市经济水平有利于平台存续和合规发展,但城市内部的风险传染值得关注;鼓励性政策有利于合规平台生存,但也会提升问题平台的非正常退出风险;较晚的进入时间会使平台生存受限。③ 集聚经济是影响P2P网贷平台生存的主要机制,企业的存续与企业进入市场的时空选择紧密相关。

关键词: 互联网金融, P2P网贷, 生存分析, 集聚经济, 金融地理学

Abstract:

Internet finance industry has grown rapidly in China and as a result, this phenomenon has caught more and more attention from the government as well as the community. However, internet finance companies are gathered in specific cities, which can be related to the high survival risks these enterprises facing. In other words, the survival and the development of internet financial enterprises is restricted by spatio-temporal factors to a certain extent, in the form of agglomeration economies. This article studies the case of P2P online lending platforms to explore spatio-temporal survival variations of internet finance companies in China and their influencing factors. It firstly shows the graphs of cities where platforms enter and exit normally or abnormally from 2009 to 2017. Then, it applies the competing risk model to assess the normal and abnormal exit risks these platforms facing in terms of agglomeration economies. The results can be summarized as follows: 1) Shenzhen, Shanghai, Beijing and their surrounding areas are hotspots of P2P platforms’ entry and exit, and the lifespans of platforms differ in different cities. 2) Urban economy and platform experience are conducive to platforms’ survival and compliance growth. Encouraging policies are conducive to compliance platforms’ survival but increase the possibility of abnormal exit, while late entry time will limit platforms’ survival. 3) Agglomeration economies are the main effects on the survival of P2P platforms. Their survival is closely related to the temporal and spatial choices of enterprises when they enter the market. By exploring the spatio-temporal variations of internet finance enterprises’ survival and their influence factors, this article provides a reference for relevant enterprises’ spatio-temporal decisions and the formulation of government policies.

Key words: internet finance, P2P lending, survival analysis, agglomeration economies, financial geography