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Distributional characteristics and proportionality of market-based security ratios

Author

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  • Jukka Perttunen

    (University of Vaasa)

  • Teppo Martikainen

    (university of Vaasa)

Abstract

The distributional characteristics and the proportionality of two market-based security ratios, the Earnings Yield and the Dividend Yield, are tested using Finnish data. The results indicate both of the ratios to be proportional in nature. However, being positively skewed, the Dividend Yield ratio requires transformation to achieve normality. This is due to the fact that this ratio has a technical limit to zero.

Suggested Citation

  • Jukka Perttunen & Teppo Martikainen, 1990. "Distributional characteristics and proportionality of market-based security ratios," Finnish Economic Papers, Finnish Economic Association, vol. 3(2), pages 125-133, Autumn.
  • Handle: RePEc:fep:journl:v:3:y:1990:i:2:p:125-133
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    Cited by:

    1. Landajo, Manuel & de Andres, Javier & Lorca, Pedro, 2007. "Robust neural modeling for the cross-sectional analysis of accounting information," European Journal of Operational Research, Elsevier, vol. 177(2), pages 1232-1252, March.

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