KMV模型对房地产上市公司信用风险度量的实证研究

Empirical Study of KMV Model on Credit Risk Measurement in Listed Real Estate Companies of China

本文基于2010年中国加大对房地产行业调控的现状和中国房地产上市公司独有的特点,运用修正后的KMV模型,选取沪深两市27家房地产上市公司的数据进行实证研究,根据实证结果,判别修正后的KMV模型适用性并分析违约距离的合理控制范围。

China strengthened the regulation and control over real estate industry in 2010.Based on this situation and characteristics of listed real estate companies of China,this paper uses amended KTV model,makes an empirical study of data of 27 listed real estate companies of Shenzhen Shanghai,then analyses the adaptability of amended KTV mode and the rational control of default scope according to empirical findings.