Dividend Yield and Stock Return in Different Economic Environment: Evidence from Malaysia
AbstractThis study investigates the relationship between dividend yields and stock returns in bull and bear markets. Evidences from developed countries show that there should be a positive correlation between dividend yields and stock return in bear markets and a negative correlation between dividend yields and stock return during the bull markets. Findings of this study, in emerging market content, show that there is a positive relation between dividend yield and stock returns in both bull and bear markets which are not consistent with previous works.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 23841.
Date of creation: 01 Nov 2009
Date of revision:
Dividend Yield; Stock Return; Economic Environment; Bull/Bear Market; Malaysia;
Find related papers by JEL classification:
- D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- G01 - Financial Economics - - General - - - Financial Crises
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-07-17 (All new papers)
- NEP-FMK-2010-07-17 (Financial Markets)
- NEP-SEA-2010-07-17 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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