Factors about the Corporate Bond Return

Abstract

Recently, there are more and more literatures on the return factors of corporate bonds. We would like to provide a review of the latest factors affecting corporate bond returns. First, we summarized the classic models for studying corporate bond returns, such as CAPM Model, Merton Model and Fama-French Model. In this paper, the factors that affect the return of corporate bonds can be classified into micro and macro factors, and we collate the literature we have collected from these two perspectives.