Understanding Corporate Bonds, Interest Rates, and Issuance Prices

Donald T. Joyner and Carl B. McGowan

Applied Finance and Accounting, 2015, vol. 1, issue 2, 143-149

Abstract: Businesses evolve over time and the degree of risk and the needs for financing evolve, too. In the early stages of a business, the business is small and most of the financing comes from the entrepreneur and from retained earnings of the business. After a business achieves a certain size, external financing is needed such as venture capital, new stockholders¡¯ equity, and bonds. Over the last one hundred years, individuals providing external funding to businesses have demanded more and better information. Currently, Sarbanes-Oxley requires both information and evidence that the information is correct. Thus, companies are required to have internal controls that validate the information provided to stakeholders and to have the auditors confirm the quality of the internal control mechanisms.

Keywords: Risk and return; business growth; sole proprietorship; corporation; equity financing; bond financing; Sarbanes-Oxley; required rate of return (search for similar items in EconPapers)
Date: 2015
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