摘要
次贷危机虽已远去,但其影响深刻久远。这些年,我国上市公司债务剧增,还本付息能力减弱。本文选取新疆35家上市公司为样本,选取陕西35家上市公司为参照样本,运用KMV模型进行实证分析发现:样本公司的违约距离随股价和资产波动率的增加而减小,比参照样本的信用风险略高。
The supreme crisis has been far away,but its influence was deep and lasted very long.In these years,the debts of listed companies increased rapidly in China so that the ability for debt repay of these companies was more and more weak.This text selected 35 listed companies of Xinjiang as sample companies and selected 35 listed companies of Shanxi as reference.The result of analysis based on KMV model showed that default distance of sample companies decreased with the increase of the Volatility of asset and Stock price,sample companies' credit risk was higher than reference.
出处
《金融发展评论》
2016年第3期46-55,共10页
Financial Development Review
