Determinants of Public Debt in Leasing Companies

Student: Bulkova Maria

Educational Programme: Financial Engineering (Master)

Year of Graduation: 2019

In the last three years Russian debt market has witnessed the emergence of high-yield bonds. Russian leasing companies appeared to be very active issuers. In this research we empirically analyse data for 192 Russian leasing companies to answer which factors could potentially force companies to use bonds emissions as new source of debt. Based on the results, we can conclude that non-bank-group, not state-owned leasing company with diversified business model will more likely issue public debt.

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