The Theory Of Structural Models Of Credit Risk And Its Empirical Study

Since 1990's, the world's economy has been destroyed seriously by several large financial crisis. It waked up the world's finance industry to attach very importance to the financial risk, especially the credit risk, than the foreign scholars developed a series of quantitative models to measure and manage the credit risk. The structural model of credit risk is one kind of credit risk quantitative models, these quantitative models has played an important role for foreign financial institution to keep away modern credit risks. Follow as joining the WTO and developing of finance market, China's financial institution will need to upgrade the ability of quantitatively measuring and managing the credit risk urgently. The author hopes that this paper's research on the structural models of credit risk can give some consultation to Chinese financial institution to defend and manage the credit risk. So this paper deeply reviews the method of modeling the structural model of credit risk, than does an empirical study in China based on the Leland-Toft models, it is a...