search query: @author Chiang, R. / total: 6
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| Author: | Chiang, R. Davidson, I. Okunev, J. |
| Title: | Some further theoretical and empirical implications regarding the relationship between earnings, dividends and stock prices |
| Journal: | Journal of Banking and Finance
1997 : JAN, VOL. 21:1, p. 17-36 |
| Index terms: | FINANCE BANKING EARNINGS |
| Language: | eng |
| Abstract: | In this paper earnings, dividends and stock prices are modelled within a plausible economic framework. The first stage in the analysis involves characterization of the dynamic behavior of earnings, evidence was found for mean reverting behavior in the long term, and weaker evidence for mean reversion in the short term. The relationship between dividends and earnings is then examined using a modified form of the Lintner model. the empirical results suggest the modified formulation performs as effectively as the original Lintner approach. |
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