This paper analyzes corporate bond valuation and optimal call and default rules when interest rates and firm value are stochastic. It then uses the results to explain the dynamics of hedging. Bankruptcy rules are important determinants of corporate bond sensitivity to interest rates and firm value. Although endogenous and exogenous bankruptcy models can be calibrated to produce the same prices,...

This research paper empirically shows that unemployment is significant in determining both consumer bankruptcy filings and delinquency even after controlling for household demographics. Furthermore, I show that unemployment and the debt/wealth ratio also affect the choice of whether to file for bankruptcy under chapter 7 or chapter 13, after controlling for demographics. The paper then points o...

In this paper we establish a relationship between the core cover of a compromise admissible game and the core of a particular bankruptcy game: the core cover of a compromise admissible game is, indeed, a translation of the set of coalitional stable allocations captured by an associated bankruptcy game. Moreover, we analyze the combinatorial complexity of the core cover and, consequently, of the...

This paper describes the creation of a script in the framework of ontological semantics as the formal representation of the complex event BANKRUPTCY. This script for BANKRUPTCY serves as the exemplary basis for a discussion of the general motivations for including scripts in NLP, as well as the discovery process for, and format of, scripts for the purposes of processing coreference and inferenc...

It is suggested in this paper generating SOM as one that could be applied for forecasting of bankruptcy classes for other than trained companies. The various aspects of the proposed Neuro-discriminate model based on the multiple discriminate analysis, supervised learning neural network and self-organizing maps are analyzed. There is compared how accuracy of prediction changes executing algorith...

We consider an insurance company whose surplus follows a diffusion process with proportional reinsurance and impulse dividend control. Our objective is to maximize expected discounted dividend payouts to shareholders of the company until the time of bankruptcy. To meet some essential requirements of solvency control e.g., bankruptcy not soon , we impose some constraints on the insurance company...

Bankruptcy is an event with strong impacts on management, shareholders, employees, creditors, customers and other stakeholders, so as bankruptcy challenges the country both socially and economically. Therefore, correct prediction of bankruptcy is of high importance in the financial world. This research intends to investigate financial crisis prediction power using models based on Neural Network...

Some of the parameters in issues of the reality world are uncertainty. One of the uncertain problems with the qualitative parameters is economic problems such as bankruptcy problem. In this case, there is a probability of dealing with imprecise concepts including the intervals regarding the official’s viewpoint, organizations’ managers. Accordingly, this article uses the concepts of data envelo...