Second, the faultable TSIR is induced for the samples of convertible bonds from SSE, and its efficiency for pricing convertible bonds is compared with the fault-free TSIR.

选取上海证券交易所可转换债券推导出违约利率期限结构，并与无违约利率期限结构对可转换债券的定价效果进行比较；

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First, the fault-free term structure of interest rates (TSIR) is induced by the spline function model for the samples of treasury bonds from Shanghai Stock Exchange(SSE), and its validity is verified.

选取上海证券交易所国债，基于样条函数模型推导出无违约利率期限结构，进行有效性检验；

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