Corporate Bonds and Company Financing: Experience of Transitional Economies
2019
Jovanovic, Ana | Jovanovic, Moma
Corporate financing decision is one of the most important financial management’s decisions. Generally speaking issuance of corporate bonds as a way of debt financing is mostly widespread in the USA, while the European companies are traditionally inclined to banking loans. Development of the debt securities market as well as its corporate bond segment is the part of overall strategy of capital market development in transitional economies. In spite of the fast growth of government bond markets in transitional economies, development of corporate bond market is at the beginning stage while the corporate bonds are very infrequent way of corporate financing. There are numerous reasons for the underdevelopment of the corporate bond markets in transitional economies mostly linked to the different direct or indirect obstacles as well as to the deeply rooted financing decisions habits.
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