Corporate Dishonesty and Bond Defaults Based on Extreme Value Theory
The study explores the correlation between corporate dishonesty and bond defaults using finan-cial data of Chinese A-share listed companies and corporate dishonesty data.The bond default warning model is optimized through extreme value theory.Empirical analysis reveals that negative credit records,such as dishonest judgment debtors and administrative penalties,serve as an early warning for corporate bond defaults.Frequent dishonest behavior leads to a continuous increase in the probability of corporate bond defaults.Additionally,the involvement of state-owned capital has a moderating effect on the preven-tion of debt default.
万方数据
维普
