Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies
Based on the evolutionary game theory, this article constructs a quartet evolutionary game model for debt restructuring with the participation of asset management companies; studies the interactive mechanism of complex behaviors among the government, banks, asset management companies, and enterprise...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Wiley
2022-01-01
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| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2022/2651538 |
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| _version_ | 1832562428946153472 |
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| author | Danyu Zhao Li Song Liangliang Han |
| author_facet | Danyu Zhao Li Song Liangliang Han |
| author_sort | Danyu Zhao |
| collection | DOAJ |
| description | Based on the evolutionary game theory, this article constructs a quartet evolutionary game model for debt restructuring with the participation of asset management companies; studies the interactive mechanism of complex behaviors among the government, banks, asset management companies, and enterprises; and analyzes the stability of the strategies of each game subject. It also analyzes the stability of the equilibrium points in the system and finds the stable points that maximize the interests of each subject. Research shows that the government chooses to give specific support, banks choose debt-to-equity swaps, asset management companies choose to provide liquidity, and enterprises choose to work hard, which can better promote the debt restructuring process. Finally, using Matlab2018 software to analyze the impact of each essential element in the debt restructuring on the stability of system evolution, the research results provide a basis for the successful debt restructuring of the enterprises. |
| format | Article |
| id | doaj-art-ce6572b6e2fd43f99af75055f44507bc |
| institution | Kabale University |
| issn | 1099-0526 |
| language | English |
| publishDate | 2022-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Complexity |
| spelling | doaj-art-ce6572b6e2fd43f99af75055f44507bc2025-02-03T01:22:45ZengWileyComplexity1099-05262022-01-01202210.1155/2022/2651538Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management CompaniesDanyu Zhao0Li Song1Liangliang Han2School of ManagementSchool of ManagementBusiness School Liaoning UniversityBased on the evolutionary game theory, this article constructs a quartet evolutionary game model for debt restructuring with the participation of asset management companies; studies the interactive mechanism of complex behaviors among the government, banks, asset management companies, and enterprises; and analyzes the stability of the strategies of each game subject. It also analyzes the stability of the equilibrium points in the system and finds the stable points that maximize the interests of each subject. Research shows that the government chooses to give specific support, banks choose debt-to-equity swaps, asset management companies choose to provide liquidity, and enterprises choose to work hard, which can better promote the debt restructuring process. Finally, using Matlab2018 software to analyze the impact of each essential element in the debt restructuring on the stability of system evolution, the research results provide a basis for the successful debt restructuring of the enterprises.http://dx.doi.org/10.1155/2022/2651538 |
| spellingShingle | Danyu Zhao Li Song Liangliang Han Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies Complexity |
| title | Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies |
| title_full | Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies |
| title_fullStr | Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies |
| title_full_unstemmed | Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies |
| title_short | Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies |
| title_sort | evolutionary game analysis of debt restructuring involved by asset management companies |
| url | http://dx.doi.org/10.1155/2022/2651538 |
| work_keys_str_mv | AT danyuzhao evolutionarygameanalysisofdebtrestructuringinvolvedbyassetmanagementcompanies AT lisong evolutionarygameanalysisofdebtrestructuringinvolvedbyassetmanagementcompanies AT lianglianghan evolutionarygameanalysisofdebtrestructuringinvolvedbyassetmanagementcompanies |