| Summary: | 碩士 === 國立中山大學 === 財務管理學系研究所 === 95 === In the recent years, the banks pay more attention to the importance of the Credit Risk. Thus, more research institutions start to focus on the problem of the Credit Risk. And the KMV company is one of the most famous institutions. The paper uses Expected Default Frequency Model developed by KMV to value the expected default probability of Taiwan listed company, and compared two ways, Financial Statement Analysis and KMV Option Model, to value EDF, and try to understand the distribution of the EDF of Taiwan listed company.
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