Realised Equity Returns

Name: Realised Equity Returns
Brand: VDM Verlag
SKU: 9783639300130
Price: 305.07 RON
Availability: InStock

A Theoretical and Empirical Study

Autor: Garry Hobbes

Limbă:

Legare: Carte broșată

Editura: VDM Verlag

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The response of the stock market to news of earnings and dividend changes is important for investors...

Informații despre carte

Autor

Garry Hobbes

Limbă

engleză

Legare

Carte - Carte broșată

Publicat

2010

Pagini

128

EAN

9783639300130

ISBN

3639300130

Enbook ID

06837025

Editura

VDM Verlag

Greutate

200

Dimensiuni

229 x 152 x 8

Descriere completă

The response of the stock market to news of earnings and dividend changes is important for investors. This monograph provides a theoretical model of realised equity returns which assumes linear forms for the dividend and earnings processes, and a discounted dividend model for price. Price is then derived as a nonlinear function of the dividends, earnings, dividend equation coefficients and earnings process coefficients. The model for realised return is tested using data for 90 U.S. firms listed on the New York Stock Exchange over a 44 year period. The results indicate changes in earnings and dividends (scaled by lagged price), the dividend policy parameters and the parameters of the earnings process are explanatory factors for equity returns. This returns model provides a theoretical foundation for investigations into realised equity returns. Thus, the analysis reveals avenues for further research into the theoretical determinants of equity returns and may be useful to academics with an interest in price determination.

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Realised Equity Returns

A Theoretical and Empirical Study

Informații despre carte

Descriere completă

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