BYD is one of the largest new energy vehicle companies in China.Analyzing its scenario and the factors that affect its value helps to understand and identify development opportunities and potential problems.On one han...
The author is infinitely thankful to his friend and colleague M.Rubinstein for valuable discussions and an invariable interest to his work.The author is also thankful to C.Miller for his high estimation of the author’s efforts.Of course,all errors are author’s full responsibility.
We use Extended Merton model(EMM)for estimating the firm’s credit risks in the presence of inflation.We show quantitatively that inflation is an influential factor making either a benign or adverse effect on the firm...