Empirical Pricing of Chinese Defaultable Corporate Bonds Based on the Incomplete Information Model

Table 2

Estimates of related parameters.

Parameters	𝜎𝑒	𝜎𝑉	𝜇𝑒	𝑡	𝑇	Default probability	Bond price
Estimation	0.61	0.36	−0.73	1.32	5	37.37%	102.36