부산대학교 도서관

Internet finance was emerged in 2012 globally and currently is considered an important part of the China's digital economy. The previous studies focused mostly on theoretical aspects of internet lending. However, the existing literature does not seem to catch up the practical implications. Based on liquidity constraints theory and intertemporal consumption model, this study analyzes the motivation of Internet lending. Secondly, it constructs the Probit model to examine empirically the influencing factors of college students' loan selection in China. The results depict that by adopting internet lending, not only the consumers' motivations are increased but also it will improve personal utility through borrowing. Moreover, consumers consider the real interest rate in addition to the transaction cost before borrowing. Finally, the paper recommends some policy implications for both the enterprise and decision makers in order to achieve a win-win situation between internet finance companies and users by adopting the inclusive finance.