search query: @author Johnson, L. / total: 6
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| Author: | Hurley, W. Johnson, L. |
| Title: | A note on the measurement of equity duration and convexity |
| Journal: | Financial Analysts' Journal
1995 : MAY-JUN, VOL. 51:3, p. 77-79 |
| Index terms: | MEASUREMENT DIVIDENDS MODELS |
| Language: | eng |
| Abstract: | The appropriate measure of equity duration is a controversial matter. In 1986, Leibowitz presented empirical duration measures that are considerably shorter than those derived from a traditional dividend discount model. A class of dividend discount models developed by Gurley and Johnson is used to try to reconcile the difference. The values derived for equity duration are intermediate between the Leibowitz and traditional measures. |
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