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.

中文翻译：

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公司债券收益率和回报：一项调查

公司债券的收益率高于类似期限的政府债券。这种更高的回报是以更高的风险为代价的。随之而来的问题是如何将这种风险定价到公司债券中。这篇文献综述对研究公司债券价格及其为投资者提供的相对于无风险证券回报的溢价的论文进行了分类和总结。审查范围从理论模型到公司债券价格的经验决定因素。一个特定部分专门讨论流动性影响，因为该部分受到了特别关注。