次贷危机虽已远去,但其影响深刻久远。这些年,我国上市公司债务剧增,还本付息能力减弱。本文选取新疆35家上市公司为样本,选取陕西35家上市公司为参照样本,运用KMV模型进行实证分析发现:样本公司的违约距离随股价和资产波动率的增加而减小,比参照样本的信用风险略高。 Although the subprime mortgage crisis has gone, its impact has been profound and far-reaching. In recent years, the debt of listed companies in our country has increased sharply, and the ability of repayment of the principal and interest has weakened. This paper selects 35 listed companies in Xinjiang as a sample and 35 listed companies in Shaanxi as reference samples. Empirical analysis using KMV model shows that the default distance of sample companies decreases with the increase of stock price and asset volatility, which is higher than that of reference sample Risks slightly higher.