NO.PZ2016082405000011
问题如下:
All of the following are assumptions of the Merton model except:
选项: A. the risk-free rate is perfectly
collinear with the value of the firm.
B. default can only occur when the bond
matures.
C. bond and stockholders cannot
negotiate.
D. there is no need to adjust for
liquidity.
解释:
A The Merton model assumes that the risk-free interest rate is constant through time.
请问,C选项是什么意思?怎么理解?