92
Figure 5.4 shows the decrease of the “monthly” hazard rate for acquisition based on
the change-point model in Section 5.2.1.
Hazard Function for 'Bankruptcy1 by the Proposed
Method
0.001 -I
0.0005 -
— Before 99 Dec.
— After 99 Dec.
///////////
У ≠ ssf У IT У У ys У
Time
Figure 5.3: Hazard Function for Bankruptcy Obtained Using the Proposed Method with
τ= - 0.5
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