scholarly journals Liquidity risk and corporate bond yield spread: Evidence from China

2020 ◽  
Author(s):  
Yinghui Chen ◽  
Lunan Jiang
Keyword(s):  
Liquidity Risk ◽  
Corporate Bond ◽  
Yield Spread ◽  
Bond Yield

Internal liquidity risk in corporate bond yield spreads

2011 ◽  
Vol 35 (4) ◽  
pp. 978-987 ◽  
Author(s):  
Tsung-Kang Chen ◽  
Hsien-Hsing Liao ◽  
Pei-Ling Tsai
Keyword(s):  
Liquidity Risk ◽  
Corporate Bond ◽  
Yield Spreads ◽  
Bond Yield

scholarly journals Corporate Social Responsibility and Bond Price at Issuances: U.S. Evidence

2021 ◽  
Vol 13 (23) ◽  
pp. 13123
Author(s):  
Hong Zhao ◽  
Wei Du ◽  
Hao Shen ◽  
Xinting Zhen
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Bond ◽  
Community Relations ◽  
Yield Spread ◽  
Governance Mechanism ◽  
Bond Price ◽  
Negative Relation ◽  
Bond Yield ◽  
Corporate Social

Bondholders are arm’s-length lenders with limited insider information. In this paper, we explore whether corporate social responsibility (CSR) activities could work as an information channel for bondholders to better understand the riskiness of bond-issuing firms. We find a significant negative relation between CSR scores and corporate bond yield spread, especially for firms which invest heavily in diversity and community relations, suggesting that CSR firms are less risky. The result is robust to different model specifications and endogeneity issues. In addition, the negative relation between the CSR score and bond yield spread is significant only if a firm has a strong internal governance mechanism.

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