Growth Expectations, Dividend Yields, and Future Stock Returns
收藏NBER2014-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w20651
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资源简介：
According to the dynamic version of the Gordon growth model, the long-run expected return on stocks, stock yield, is the sum of the dividend yield on stocks plus some weighted average of expected future growth rates in dividends. We construct a measure of stock yield based on sell-side analysts'
提供机构：
美国国家经济研究局
创建时间：
2014-11-01
