prices and the log dividends. However, the empirical results also show that the cointegrating relationship has changed over …

Even in large equity markets, the dividend-price ratio is significantly related with the growth of future dividends. In … order to uncover this relationship, we use monthly dividends and a mixed data sampling technique which allows us to cope … with within-year seasonality. We reduce the effect of price volatility on the dividend-price ratio by applying a simple …

Finance Theory. The objective of this work is to analyze the validity of the PVM between prices and dividends at the firm … (log) dividends are non-stationary I(1) and (log) price-dividend ratio is I(0) cannot be rejected. Regarding FMOLS and DOLS … dividends, where the discount rate is equivalent to the required rate of return – is one of the long-standing principles of …

This study analyzes the firm-specific factors affecting the dividend payout decisions of the companies whose shares are …–Bover/Blunder-Bond two-step system generalized method of moments, a statistically significant positive effect on dividend payout was found in … the relationship between the dividend payout of the previous year, the company’s return on equity and the market value …