Subject This paper analyzes the influence of seasonality on the yield spreads of real economy corporate bonds of the BRICS countries over the sample period from 2006 to 2016. Objectives The paper aims to reveal and determine the seasonal component in yield spreads of corporate bonds of the BRICS countries. Methods For the study, we constructed various econometric models, using the least squares technique. The research is based on the data in the primary market of corporate bonds. Results The article presents four econometric models. The study corroborates the hypothesis about seasonality in the primary market of corporate bonds of the BRICS countries. Conclusions The results obtained are consistent with the assumption of seasonality in the market of corporate bonds of the BRICS countries. The identified seasonal component has little to do with the existing tax period. The results are partially different from the results obtained in similar works, studying the influence of seasonality in other bond markets.
Keywords: corporate bonds, yield spread, BRICS countries, seasonality, bond market
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