Study on Fuzzy Evaluation of Credit Risk of Corporate Bond
Ouyang Jiazhong, Li Min
Journal of Digital Information Management, Vol. 11, No. 2, 2013.
DOI: 
Link: http://dline.info/fpaper/jdim/v11i2/3.pdf
Abstract:
The credit risk evaluation of corporate bond is one of the difficult and hot research fields in the related research and plays a key role for corporate financing. Based on the fuzzy theory and analytic hierarchy process, a new credit risk evaluation model of corporate bond is presented. First an evaluation indicator system of credit risk of corporate bond is designed through analyzing the characteristics of the evaluation indicator with more details; Second, analytic hierarchy process is used to determine the level of different indicators and multistage comprehensive fuzzy evaluation is used to evaluate the credit risk of corporate bond. Finally, corporate bond of 10 enterprises are taken for examples to evaluate the credit risk and verify the validity and feasibility of the model and the experimental results show that the model can evaluate the credit risk of different corporate bond of different enterprises practically.