Abstract

In recent years, online P2P lending grows remarkably. Past studies mainly used direct second-hand data from P2P platforms to conclude many factors are related to people's delinquency and default behaviours, lacking further exploration on how people's social and psychological status could impact their behaviour during the borrowing and repayment process. On foundation of general strain theory (GST) and the model of frame selection (MFS), we used survey method and collected data from more than 700 Chinese subjects. A two-stage structural equation model was proposed. In the first stage, we investigated how people's psychosocial factors (e.g. economic capacity, sense of fairness and sociability etc.) could shape their individual feelings and attitudes in social context (e.g. life satisfaction and self-esteem) as well as morality. In the second stage, we tested the relationship between life satisfaction, self-esteem, moral norm and people's delinquency intention on P2P lending platform. The empirical results suggest that higher psychosocial status will be conductive to better individual feelings of life satisfaction and self-esteem. Moreover, better psychosocial factors will mostly lead to a higher moral norm of people. Therefore, these favourable feelings and morality further contribute to less delinquency intention on P2P lending platform. Our research has both academic and practical implications.

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