search query: @author Wilson, J.O.S. / total: 2
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| Author: | Goddard, J. Mcmillan, D.G. Wilson, J.O.S. |
| Title: | Dividends, prices and the present value model: firm-level evidence |
| Journal: | European Journal of Finance
2008 : APR/JUN, VOL. 14:3-4, p. 195-210 |
| Index terms: | stock markets prices value analysis models companies United Kingdom |
| Language: | eng |
| Abstract: | A re-examination of the present value model (hereafter as: p-v-m.) is due to recent stock price movements. This study considers U.K. firm-level data, implementing panel unit root and cointegration tests. Recent panel tests allowing for cross-sectional dependence control for factors e.g. bubbles that may result in temporary deviations from the long-run price-dividend relationship. The panel test results largely support the p-v-m., producing evidence of cointegration btw. real prices and dividends. |
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