The empirical results reveal strong evidences for the positive relationship between debt-to-asset ratio and credit risk,volatility of assets and credit risk.
为研究KMV模型在中国上市公司信用风险定价与度量的适用性问题,选取2004年至2007年260家上市公司的财务指标与股票价格所组成的面板数据,对该模型所揭示的负债资产比、资产波动率和信用风险之间存在的两个内联关系进行实证分析,结果表明:负债资产比与信用风险存在正向关系,资产波动率与信用风险也存在正向关系,得出该模型在对中国上市公司的信用风险定价与度量中具有较高的适用性和精确性的结论。
debt to total assets ratio
负债对资产总额比率
debt ratio: Ratio of total liabilities to total assets.
债务比率:总负债对总资产的比率。
ratio of total liability to net worth
负债总额对净值的比率
ratio of net worth to total debt
净值对负债总额的比率;净值对负债总额的比率
The debt ratio expresses the relationship of total 1iabilities to total assets.
负债比率表达了负债总额与资产总额之间的关系。
ratio of fixed liabilities to total liabilities and net worth
固定负债对负债总额及净值的比率
ratio of current liabilities to total liabilities and net worth
流动负债对负债总额及净值的比率
aggregate indebtedness to capital ratio
债务总额对资本比率
ratio of net income to total assets
净收益对资产总额比率;净收益对资产总额比率
ratio of fixed assets to capital liabilities
固定资产对资本负债的比率
Total Debt to Total Assets
总债务与总资产比率
ratio of net sales to total assets
销货净额对资产总额比率
ratio of current assets to total assets
流动资产对资产总额的比率
balance sheet ratios
资产负债表中各项比率
rates for translation assets and liabilities
换算资产与负债的比率
balance sheet-income sheet ratios
资产负债与损益比率
Enterprise's capital structure means the ratio of the debt to total assets.
企业资本结构指企业的负债与总资产的比率。
ratio of current assets to current liabilities
流动资产对流动负债的比率