EconPapers    
Economics at your fingertips  
 

Corporate bond yields and returns: a survey

Stephanie Heck ()
Additional contact information
Stephanie Heck: Université de Liège

Financial Markets and Portfolio Management, 2022, vol. 36, issue 2, No 3, 179-201

Abstract: Abstract 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.

Keywords: Yield spreads; Corporate bond returns; Credit risk; Term structure; Liquidity (search for similar items in EconPapers)
JEL-codes: D47 E43 G12 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s11408-021-00394-4 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:fmktpm:v:36:y:2022:i:2:d:10.1007_s11408-021-00394-4

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/11408/PS2

DOI: 10.1007/s11408-021-00394-4

Access Statistics for this article

Financial Markets and Portfolio Management is currently edited by Manuel Ammann

More articles in Financial Markets and Portfolio Management from Springer, Swiss Society for Financial Market Research Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2022-07-02
Handle: RePEc:kap:fmktpm:v:36:y:2022:i:2:d:10.1007_s11408-021-00394-4