Schmeling, Maik; Rangvid, Jesper; Schrimpf, Andreas - 2010
panel of countries outside the U.S.. In particular, we demonstrate that aggregate dividend growth rates are highly …-series dimension (time variation in dividend yields strongly predicts future dividend growth rates) and in the cross-country dimension … (sorting countries into portfolios depending on their lagged dividend yield produces a spread in dividend growth rates of more …