This paper identifies the joint effect that multiple factors exert on share prices in Karachi Stock Exchange (KSE … observed are payout ratio, size, leverage and dividend yield. Together, these four factors explain one-fourth variation in …-1990) and the post-reform period (1991-2000). In the pre-reform period, three factors, i.e., payout ratio, size and dividend …

2005. The relationship between excess returns, order flow, dividend yields and earning-price ratio was examined using GARCH …

-the dividend and earnings yields-on the South African market, at both aggregated and sectoral level. Unlike most studies in South …