其他摘要：The credit default risk measurement technology of listed Corporation is so mature in the west that a complete system of methods and models of credit risk measurement are formed in theory and practice. But in China, the measurement of credit default risk is still in its infancy and the credit rating is still in the exploratory stage, which can’t meet the needs of commercial bank loans for safety management requirements. As one of modern four major credit risk measurement models, KMV parameters can be obtained in the Chinese current database which is under construction now, and its calculation methods have strong theoretical bases to support itself. The calculated data is more convincing than that from the traditional credit risk measurement methods, which can help the banks to control the risks and the listed corporations to build its integrity, promoting the financial market. The results show that credit default risk of listed Chinese companies is almost consentaneous to this empirical test of models. Thus, through the research of credit default risk measurement models, exploring the Chinese credit default model has significance both in theory and practice.
