‎The aim of this paper is to generalize the comprehensive structural model for defaultable fixed income bonds (considered in R‎. ‎Agliardi‎, ‎A comprehensive structural model for defaultable fixed-income bondsو Quant‎. ‎Finance 11 (2011)‎, ‎no‎. ‎5‎, ‎749--762.) into a comprehensive unified model of structural and reduced form models‎. ‎In our model the bond holders receive the deterministic co...

According to the adverse consequences that are brought by financial distress for companies, economy and financial –monetary institutions, the use of methods that can predict the occurrence of financial failure and prevent the loss of wealth is of great importance. The major models of credit risk assessment are based on retrospective information and using the methods which use the updated market...

Default risk is one of the most important types of risks, and credit default swap (CDS) is one of the most effective financial instruments to cover such risks. The lack of these instruments may reduce investment attraction, particularly for international investors, and impose potential losses on the economy of the countries lacking such financial instruments, among them, Iran. After the 2007 fi...

unreliability of financial statements in iran has urged this country’s financial services industry management to manipulate practices by which they could gain reliable risk scores for borrowers. this research extracts the most influential qualitative factors that would impact the default of a business relationship borrower. solicitation of the factors is done through delphi methodology. the mea...

Default logic is an important and influential formalization of commonsense reasoning. Determining whether a given default theory has an extension is the main computational problem pertinent to default logic, the analog of testing for validity and finding deductions in more classical logics. Substantially generalizing a result by Etherington [5] we show that all default theories that have no odd...