Corporate Bonds as Financing Vehicle in Central- and Eastern Europe

Proceedings of the 11th Annual Conference on Marketing and Business Strategies for Central and Eastern Europe, Vienna, 2003

Posted: 19 Dec 2008 Last revised: 10 Feb 2011

See all articles by Peter R. Haiss

Peter R. Haiss

WU Vienna University of Economics and Business; UniCredit Bank Austria; IES Vienna - Institute for the International Education of Students

Stefan Marin

affiliation not provided to SSRN

Date Written: 2003

Abstract

The aim of the paper is to discuss the use of corporate bonds in financial strategies in Central and Eastern Europe (CEE) and repercussions to the transition progress. We provide empirical data on the growing use of corporate bonds in CEE, discuss the level of development of the domestic corporate bond markets and the implications for company finance and the transition process. We argue that the comparatively low level of development of the domestic corporate bond markets may create impediments to economic growth during the continuing transition in the CEE. We discuss future prospects for CEE bond markets, the relationship to foreign direct investment and bank loans, and changes in financial strategies.

Keywords: Transition Progress, Financial Strategies, Corporate Bonds, FDI, Central European Countries

JEL Classification: E44, F15, F33, F36, G12, G15, G21, P34, O16, O57

Suggested Citation

Haiss, Peter R. and Marin, Stefan, Corporate Bonds as Financing Vehicle in Central- and Eastern Europe (2003). Proceedings of the 11th Annual Conference on Marketing and Business Strategies for Central and Eastern Europe, Vienna, 2003, Available at SSRN: https://ssrn.com/abstract=1317645

Peter R. Haiss (Contact Author)

WU Vienna University of Economics and Business ( email )

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Stefan Marin

affiliation not provided to SSRN ( email )

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