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Understanding Corporate Bonds, Interest Rates, and Issuance Prices

Author

Listed:
  • Donald T. Joyner
  • Carl B. McGowan

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.

Suggested Citation

  • Donald T. Joyner & Carl B. McGowan, 2015. "Understanding Corporate Bonds, Interest Rates, and Issuance Prices," Applied Finance and Accounting, Redfame publishing, vol. 1(2), pages 143-149, August.
    • Handle: RePEc:rfa:afajnl:v:1:y:2015:i:2:p:143-149
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    More about this item

    Keywords

    Risk and return; business growth; sole proprietorship; corporation; equity financing; bond financing; Sarbanes-Oxley; required rate of return;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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