Corporate Bond Default Risk Measuring and Bonds Investing Picking Study: Based on the Industries Points

The corporate bond default risk can be measured by the default distance and it has unique features in different industries. Overproduction and overwhelming tax burden are the common reasons for the default cases. Learning from oversea experience and focusing on China’s industry structures, it builds quantitative models to study the default risks for China’s corporate on a large sample basis. Combining the profitability with the former related results, it has developed a practical strategy for bonds investing by industries comparison.