登录之后可查看解析

Statements I and IV are true. In the Shimko, Tejima, and van Deventer (1993) model, an increase in the volatility of interest rates will result in lower values for debt and higher values for equity; therefore, statement I is true. Likewise, a higher correlation between firm values and changes in interest rates will result in lower debt values and higher values for equity; therefore, statement II is false. The Vasicek model includes a speed to reversion term that is also included in the model presented by Shimko, Tejima, and van Deventer. In this model, a higher value for the speed term reduces the value of debt and a increases the value of equity; therefore, statement III is false. The long-term mean in the Shimko, Tejima and van Deventer model is directly related to debt values and inversely related to equity values; therefore, statement IV is true.