Goldstein, Michael A.; Goyal, Abhinav; Lucey, Brian M.; … - Institute for International Integration Studies (IIIS), … - 2014
more in declining markets than in advancing markets, whether in developed or emerging markets or before or after the 2008 …-dividend paying stocks, by between 0.63% (China) to 3.79% (Canada) more per month in declining markets than in advancing markets. In … declining markets, dividend paying firms outperform by more than any underperformance in advancing markets. Our findings show …