A pricing model of corporation bond is built up, default assumed as a stochastic intensity process and related to risk-free interest rate.
在考虑企业债券违约风险的情形下，首先将违约看作具有不确定性的随机强度过程，对违约风险进行了建模。
In case of single-factor interest rate models, there is only one state variable, the default-free instantaneous interest rate.
单因子利率模型中，只设定一个状态变量，即无违约风险的瞬时利率。 瞬时利率的运动变化决定了整个利率期限结构的运动变化。
In case of single-factor interest rate models, there is only one state variable, the default-free instantaneous interest rate.
单因子利率模型中，只设定一个状态变量，即无违约风险的瞬时利率。 瞬时利率的运动变化决定了整个利率期限结构的运动变化。
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