Results 211 to 220 of about 1,589 (254)

Dividend Yields, Dividend Growth, and Return Predictability in the Cross Section of Stocks

Journal of Financial and Quantitative Analysis, 2012
AbstractThere is a generalized conviction that variation in dividend yields is exclusively related to expected returns and not to expected dividend growth, for example, Cochrane’s (2011) presidential address. We show that this pattern, although valid for the aggregate stock market, is not true for portfolios of small and value stocks, where dividend ...
Santa-Clara, Pedro, Maio, Paulo
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Are Ex-day Dividend Clientele Effects Dead? Dividend Yield verses Dividend Size

SSRN Electronic Journal, 2004
We document new evidence that the ex-dividend day stock price behavior in the U.S. is inconsistent with the tax explanation in several aspects. We find that within a tick multiple, as dividend size increases, dividend yields increase, but the price-drop-to-dividend ratios decrease.
Tongshu Ma, Keith Jakob
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Are ex‐day dividend clientele effects dead? Dividend yield versus dividend size

Journal of Empirical Finance, 2007
Abstract We devise an approach to determine whether market microstructure or taxes influence ex‐dividend behavior. We find that microstructure effects of automated limit order adjustments strongly influence ex‐day prices for dividends less than or equal to a tick.
Keith J. Jakob, Tongshu Ma
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Dividend yield and expected returns

Journal of Financial Economics, 1990
Abstract Previous research examining the relation between dividend yield and equity returns documents a U-shaped pattern arising from the positive CAPM-adjusted average excess return of zero-dividend firms. In contrast, this paper reports that zero-dividend firms earn negative average excess returns relative to firms of similar size.
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Do Environmental Taxes Yield a Double Dividend?

1995
In the face of growing concern about serious environmental problems, environmental taxes have attracted increasing attention, as taxes can, at least in principle, internalise the adverse external effects associated with pollution. Furthermore, many economists have argued that pollution levies are an efficient instrument for achieving environmental ...
Bovenberg, A.L., de Mooij, R.A.
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Stock Prices, Returns and Dividend Yields

SSRN Electronic Journal, 2011
The predictive ability of the dividend-price ratio for future stock returns does not necessarily imply that dividend-price ratios predict future stock prices. Stock returns consist of both a capital gain and a dividend yield component, and we show that predictability of stock returns by lagged dividend-price ratios mainly reflects predictability of ...
Dimitrios Malliaropulos, Richard Priestley   +1 more
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Stock Returns, Dividend Yields, and Taxes

The Journal of Finance, 1998
Using an improved measure of a common stock's annualized dividend yield, we document that risk‐adjusted NYSE stock returns increase in dividend yield during the period from 1963 to 1994. This relation between return and yield is robust to various specifications of multifactor asset pricing models that incorporate the Fama–French factors.
Andy Naranjo, M. Nimalendran, Mike Ryngaert   +2 more
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Random Walks in Dividend Yields and Bubbles

SSRN Electronic Journal, 2014
A nonstationary dividend yield, having a unit root, is seen as proof of bubbles (Craine 1993). This inference is not valid. A sufficient condition for the absence, respectively presence of bubbles is the uniform divergence, respectively uniform convergence of the dividend yield series. I use this criterion to show that a random walk dividend yield must
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STOCK YIELDS, STOCK DIVIDENDS AND INFLATION.

The Accounting Review, 1932
Abstract The yield of bonds has long been recognized as capable of mathematical determination, bond tables have long been in general use. The simplest ratio often called "yield" is obtained by dividing the annual dividend payments per share by the market value of a share.
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Good Times and the Dividend Yield

SSRN Electronic Journal, 2023
Anna Battauz, Marzia De Donno, Alessandro Sbuelz   +2 more
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