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。

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And then, I compare the default intensity of two classes of bond, and compare the model efficiency of the model I use in this paper with that of a simple model.

随后进行模型的比较，假设违约强度为常数，对无担保的企业债进行分析，比较两个模型的估计误差。

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