报告题目：A Probabilistic Analysis of Chapter 7 and Chapter 11 of the U.S. Bankruptcy Code

  报 告 人：Iowa大学, 唐启鹤教授

报告时间：2014年3月19日16:00

报告地点：苏州大学本部览秀楼105学术报告厅

报告摘要：

The probability of bankruptcy is at the core of risk management in insurance and finance.  Historically, bankruptcy of a firm has been usually defined by risk theorists as the event that the firm value goes below a low barrier, which is often set to 0 in ruin theory, in particular.  In the real world, however, bankruptcy is a very complicated process.  When a firm is unable to serve its debt or pay its creditors while it is not yet in a very severe fiscal situation, instead of filing Chapter 7 of immediate liquidation the firm is usually given the right to file Chapter 11 with a federal bankruptcy court for reorganization.  We aim at a quantitative understanding of the bankruptcy risk in this new framework using probabilistic techniques.

This talk is based on recent joint works with Bin Li (University of Waterloo), Lihe Wang (University of Iowa and Shanghai Jiao Tong University) and Xiaowen Zhou (Concordia University).

唐启鹤教授个人网页：www.stat.uiowa.edu/~qtang