Research on valuation of corporate risky debt is given when bankruptcy costs are taken into account.

破产成本是企业破产时发生的费用，从而降低了企业资产价值。

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Now some of the enterprises there is a "the report form profit, in the account does not have the money". In severe cases, they will be "earnings but bankruptcy" phenomenon.

现在的部分企业存在着“报表盈利，账上无钱”的现象，给企业的生存带来危机，严重的甚至会出现“盈利破产”现象。

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A change in America's personal-bankruptcy laws in 2005 led to an abrupt fall in bankruptcy filings, which in turn account for a big chunk of credit-card losses;

2005年美国个人破产法的一个改动使得破产登记急速下降，而后引起了信用卡大规模的亏损。

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A change in America's personal-bankruptcy laws in 2005 led to an abrupt fall in bankruptcy filings, which in turn account for a big chunk of credit-card losses;

2005年美国个人破产法的一个改动使得破产登记急速下降，而后引起了信用卡大规模的亏损。

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