Assessing the default risk of Chinese public companies in the energy industry with the KMV model
The structural approach to credit risk modeling has gained a growing attention in both the academics and in the industry. In this dissertation, we outline the basic ideas and structures of the KMV (Merton) model and also explain some related issues before implementing this model. Referring to the KMV model, we use the KMV model to identify the credit risk of listed companies in China. We use real