Factors determining the liquidity of bonds: analysis of the Russian market

In this paper I study the trading volume and liquidity of corporate bonds of Russian companies according to 95 bonds for the period from June 2012 to November 2014. Our data allow us to examine the impact of the various characteristics of the issuer and the market on liquidity of the respective bonds and also check the results of previous authors (Edith Hotchkiss et al., 2002; Alexander, 2000) for the Russian market.