Rangvid, Jesper; Schmeling, Maik; Schrimpf, Andreas - School of Economics and Management, University of Aarhus - 2010
The common perception in the literature, mainly based on U.S. data, is that current dividend yields are uninformative … countries, as aggregate dividend growth rates are found to be highly predictable by the dividend yield in medium-sized and … smaller countries, but generally not in larger countries. We also show that dividend predictability is weaker in countries …