Corporate bond yields and returns: a survey

Heck, Stéphanie

doi:10.1007/s11408-021-00394-4

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Corporate bond yields and returns: a survey

Heck, Stéphanie

2021 • In Financial Markets and Portfolio Management

Peer reviewed

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https://hdl.handle.net/2268/261214

DOI
10.1007/s11408-021-00394-4

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Keywords :

Yield spreads; Corporate bond returns; Credit risk; Term structure; Liquidity

Abstract :

[en] Corporate bonds offer higher yields than government bonds with similar maturity. This higher reward comes at the cost of higher risk. The question then arises of how this risk is priced into corporate bonds. This literature review provides a classification and summary of papers studying corporate bond prices and the premium they offer to investors over the return on risk-free securities. The review ranges from theoretical models to empirical determinants of corporate bond prices. A specific section is dedicated to the liquidity impact as this component has received special attention.

Disciplines :

Finance

Author, co-author :

Heck, Stéphanie

Language :

English

Title :

Corporate bond yields and returns: a survey

Publication date :

2021

Journal title :

Financial Markets and Portfolio Management

ISSN :

1934-4554

eISSN :

2373-8529

Publisher :

Taylor & Francis

Peer reviewed :

Peer reviewed

Available on ORBi :

since 21 June 2021

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