Frijns, Bart; Tourani-Rad, Alireza - In: Pacific Accounting Review 28 (2016) 1, pp. 59-70
Purpose – The aim of this paper is to construct a historical index for the New Zealand stock markets going back to 1899. From these historical returns, the authors can extract the average capital gains and dividend yield. It also allows them to provide an estimate for the equity risk premium...