Research Article
Evolutionary Game Analysis of Debt Restructuring Involved by Asset Management Companies
Table 1
Quartet evolutionary game payoff matrix of debt restructuring.
| | Government |
| | | | Specific support is given to debt restructuring companies | No specific support is given to debt restructuring companies | | | Bank | | | | Debt relief | Debt to equity | Debt relief | Debt to equity | | Asset management company | Acquisition of nonperforming bank assets | Enterprise | Work hard | -C1-M1-H1 | -C1-M1+H2 | -T1 | -T1 | | -C2+S2–C3–W1 | S3+B2–C4 | -C2+S2–W1 | S3–C4 | | -C5+S4+B3 | -C5+S4+B3 | -C5+S4 | -C5+S4 | | D1-C7-C8+M1 | D1-C7-C8+M1 | D1-C7-C8 | D1-C7-C8 | | Not work hard | -C1-N1+L5-H1 | -C1-N1+L5 | -T1+L5 | -T1+L5 | | -C2-C3-W1 | S3+B2–C4-J1 | -C2-W1 | S3–C4 | | -C5+S4-Q1+B3 | -C5+S4-Q1+B3 | -C5+S4-Q1 | -C5+S4 | | -E1+D1-L5 | D1-L5 | D1-L5-E1 | D1-L5 | | Provide liquidity | Work hard | -C1-M1-H1+H3 | -C1-M1+H2+H3 | -T1 | -T1 | | -C2+S2–C3+T4 | S3+B2–C4+T4 | -C2+S2+T4 | S3–C4+T4 | | -C6+D2+B4 | -C6+D2+B4 | -C6+D2 | -C6+D2 | | G1-C7+M1-C8 | -C7+M1+G1-C8 | G1-C7-C8 | -C7-C8+G1 | | Not work hard | -C1-N1+L5-H1+H3 | -C1-N1+L5+H3 | -T1+L5 | -T1+L5 | | -C2-C3+T4 | S3+B2–C4+T4-J1 | -C2+T4 | S3–C4+T4 | | -C6+D2+B4-R1 | -C6+D2+B4-R1 | -C6+D2-R1 | -C6+D2-R1 | | -E1-L5 | -L5 | -E1-L5 | -L5 |
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