问题如下图：
选项：
A. 
B. 
C. 
D. 
解释：
orange品职答疑助手 · 2019年04月17日
B选项对应的假设是把公司债考虑成零息债，因为它们都只会在债券到期时违约
C选项：公司资不抵债时债权人没有追索权去让股东赔付
D选项：莫顿模型最终目的是计算CR，也就是credit loss。公司可能发股票，也可能发债券。但有CR的是债券。公司债具有CR，而国债无CR。我们把国债价格与公司债价格的差，当做是credit loss。而这个逻辑就隐含了一个假设：即国债与公司债只有CR的区别，其他条件都相同，但实际情况下，国债与公司债的流动性肯定不一样，因此它们实际上应该是有一个流动性溢价的，但模型中却并没有考虑，直接认为它们只有CR不一样。因此模型假设中，并没有考虑调整流动性。
NO.PZ2016082405000011 All of the following are assumptions of the Merton mol except: the risk-free rate is perfectly collinewith the value of the firm. fault conly occur when the bonmatures. bonanstockholrs cannot negotiate. there is no neeto aust for liquity. A The Merton mol assumes ththe risk-free interest rate is constant through time. A还是没太明白，能不能一下呢？
NO.PZ2016082405000011 All of the following are assumptions of the Merton mol except: the risk-free rate is perfectly collinewith the value of the firm. fault conly occur when the bonmatures. bonanstockholrs cannot negotiate. there is no neeto aust for liquity. A The Merton mol assumes ththe risk-free interest rate is constant through time. 请问，C是什么意思？怎么理解？
All of the following are assumptions of the Merton mol except: the risk-free rate is perfectly collinewith the value of the firm. fault conly occur when the bonmatures. bonanstockholrs cannot negotiate. there is no neeto aust for liquity. A The Merton mol assumes ththe risk-free interest rate is constant through time. 请问老师什么不对？哪里假设了不需要调整流动性呢？ 能否把每个都讲解一下呀，谢谢！
什么是模型的假设？体现在哪里？
