Park, Cheolbeom; Shin, Dong-hun - Institute of Economic Research, Korea University - 2014
Using a comprehensive dataset covering 34 countries from Datastream, we find that dividend-price ratio has a broad … spectrum of forecasting abilities internationally. In some countries, such as the US, the dividend-price ratio is a powerful … many countries, however, the dividend-price ratio has some predictive power for both stock returns and dividend growth …