次要道路车辆以泊松过程到达且在主路车辆具有绝对优先权下通过交叉口。
It is assumed that the minor stream cross major stream under absolute priority gap acceptance theory. Minor stream is assumed to arrive at a Poisson process.
但是，如果允许策略性债务违约或对绝对优先权原则偏离，股东权益价值最大化的破产决策将达到与公司价值最大化一致的结果；
But if the strategic default or deviation from absolute priority rule is allowed, the decision that maximizes value of equity will be consistent with one that maximizes corporate value.
另一方面，这些债券投资者承担的绝对风险却又低于股东，因为息票的付款是不能勾销的，而在公司无法还债时，债券持有人的债权，有很高的优先权。
On the other hand, absolute risk is lower than for equities because coupon payments cannot be waived and, in the event of a default, bondholders are ranked highly among creditors.
另一方面，这些债券投资者承担的绝对风险却又低于股东，因为息票的付款是不能勾销的，而在公司无法还债时，债券持有人的债权，有很高的优先权。
On the other hand, absolute risk is lower than for equities because coupon payments cannot be waived and, in the event of a default, bondholders are ranked highly among creditors.
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