Earnings and Expected Returns
收藏NBER1996-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w5671
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资源简介：
The aggregate dividend payout ratio forecasts aggregate excess returns on both stocks and corporate bonds in post-war US data. Both high corporate profits and high stock prices forecast low excess returns on equities. When the payout ratio is high, expected returns are high. The payout ratio's
提供机构：
美国国家经济研究局
创建时间：
1996-07-01
