信贷市场中的学历价值及其区域异质性研究

随着网络借贷平台的兴起，为研究借款者学历在信贷市场的实际价值及影响机制提供了新的机会窗口。依托A网贷平台的公开业务数据发现：信贷市场的信用配给存在学历价值区分效应，拥有高学历者在获取贷款及更低借款成本具有优势；学历价值的具体效用存在区域异质性，相同学历背景的借款人在东部地区较中西部能够获得更多融资优势。研究结果表明，学历作为易被观察的显性标签，可以在信贷市场风险识别中发挥更大作用；教育价值评估需充分考虑区域经济社会发展水平，关注区域异质性。

Value of Academic Qualifications and Regional Heterogeneity in the Credit Market

The rise of online lending platforms has provided a new window of opportunity for studying the actual value of borrowers' academic qualifications in the credit market and the mechanism of influence. Relying on the public business data of the On line Loaning Platform A, which is widely used in China, it is found that the credit rationing in the credit market has the effect of distinguishing the value of academic qualifications, and those with a high degree of education have an advantage in obtaining loans and lower borrowing costs. The specific utility of the value of academic qualifications exists with regional differences. Borrowers with the same educational background can obtain more financing advantages in the eastern regions than in the central and western regions. The research results show thatacademic qualifications can play a greater role in the identification of risks in the credit market as a visible label that is easy to be observed. In the evaluation of educational value, we should fully consider the level of regional economic and social development and pay attention to regional heterogeneity.