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Cited by 1,575

The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.

Explaining the Rate Spread on Corporate Bonds

Open access
Elton, Edwin J., Gruber, Martin J., Agrawal, Deepak, Mann, Christopher·2001·The Journal of Finance
DOI 10.1111/0022-1082.00324
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Abstract

The purpose of this article is to explain the spread between rates on corporate and government bonds. We show that expected default accounts for a surprisingly small fraction of the premium in corporate rates over treasuries. While state taxes explain a substantial portion of the difference, the remaining portion of the spread is closely related to the factors that we commonly accept as explaining risk premiums for common stocks. Both our time series and cross‐sectional tests support the existence of a risk premium on corporate bonds.

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Crossref · 10.1111/0022-1082.00324

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Metadata

Authors
Elton, E. J., Gruber, M. J., Agrawal, D., & Mann, C.
Venue
The Journal of Finance
Publisher
Wiley
Published
2001-02
Volume
56
Issue
1
Pages
247-277
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/0022-1082.00324
OpenAlex
W3121877964
Cited by
1,575
References
1
FWCI
84.37
Type
journal article
Language
en
Open access
bronze

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CoChat. (2026). Citation check: Explaining the Rate Spread on Corporate Bonds. https://app.cochat.ai/papers/10.1111/0022-1082.00324
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Elton, E. J., Gruber, M. J., Agrawal, D., & Mann, C. (2001). Explaining the Rate Spread on Corporate Bonds. The Journal of Finance. https://doi.org/10.1111/0022-1082.00324

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.