the core and achievements of the paper can be generalized as follows:the processes of risk-free interest rate and hazard rate are drawn by the diffusion process.
本文的核心内容及研究成果,可以概括为:采用扩散过程刻画无风险利率过程以及违约强度过程的运动趋势。
the optimal timing of firm「s r&d investment is determined by its conjecture about rival」s hazard rate: the more the hazard rate is, the earlier the firm invests.
企业r&d投资的最优时机取决于企业对竞争对手抢先投资危险率的推测,危险率越高,投资越早。
in this paper, it is proposed the estimation of hazard rate function in semi- parametric model with truncated and censored data taking into the auxiliary information account.