Search Results for: Dividend Growth And Return Predictability

We re-examine dividend growth and return predictability evidence using 165 years of data from the Brussels Stock Exchange. The conventional wisdom holds that ti

There is a generalized conviction that variation in dividend yields is exclusively related to expected returns and not to expected dividend growth - e.g. Cochra

Abstract: To question the statistical significance of return predictability, we cannot specify a null that simply turns off that predictability, leaving dividen

This paper develops an extension of Cochrane's (2008) joint hypothesis framework by allowing the coefficients to depend on the state of the economy. For recessi