Stock Prices, Earnings, and Expected Dividends
نویسندگان
چکیده
منابع مشابه
Stock Prices, Earnings, and Expected Dividends
Long historical averages of real earnings help forecast present values of future real dividends. With aggregate U.S. stock market data (1871-1986), a vector-autoregressive forecast of the present value of future dividends is, for each year, roughly a weighted average of moving-average arnings and current real price, with between two thirds and three fourths of the weight on the earnings measure...
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ژورنال
عنوان ژورنال: The Journal of Finance
سال: 1988
ISSN: 0022-1082
DOI: 10.1111/j.1540-6261.1988.tb04598.x