Phân tích tư tưởng của nhân dân qua đoạn thơ: Những người vợ nhớ chồng… Những cuộc đời đã hóa sông núi ta trong Đất nước của Nguyễn Khoa Điềm
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The pricing of credit-sensitive bonds, that is, bonds which have a significant probability ofdefault, is an issue of increasing academic and practical importance. The recent practice infinancial markets has been to issue high yield corporate bonds that are a hybrid of equity andrisk-free debt. Also, to an extent, most corporate bonds are credit-sensitive instruments,simply because of the limited liability of the issuing enterprise. In this paper, we suggest andimplement a model for the pricing of options on credit-sensitive bonds. For example, themodel can be used to price call provisions on bonds, options to issue bonds, and yield-spreadoptions. From a modelling...
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Yield to Maturity
