Valuation&Trade Strategy On Distressed Debt Of Listed Company

This paper firstly describe how the corporate value is shared by thelenders and shareholders. In Chinese listed corporates, Shell Value (identityof being listed) is an important component of Corporate value, we discussedhow it is determined in a multifactor regression and in practice. Next weanalysis the game equilibrium in debt settlement with Rubinstein AlternativeOffering Model, we point out what’s the main factors that effects theequilibrium are negotiation power and discount factors. In case part, thepaper discussed5cases of debt restructuring, represent different model types.In last, we summarized main factors matters the distressed debtvaluation/trade, and how could above analysis be used in a larger context.