haku: @author Landsman, W.R. / yhteensä: 4
viite: 2 / 4
| Tekijä: | Hand, J.R.M. Landsman, W.R. |
| Otsikko: | The pricing of dividends in equity valuation |
| Lehti: | Journal of Business Finance and Accounting
2005 : APR/MAY, VOL 32:3-4, p. 435-469 |
| Asiasana: | Accounting Valuation Equities Dividends Pricing Models |
| Kieli: | eng |
| Tiivistelmä: | In this study, Ohlson's accounting-based equity valuation model is used to structure tests of four explanations for the anomalously positive pricing of dividends (here as: dvds.) reported by Rees, and Fama and French (1997, 1998). After showing that dvds. are not simply a proxy for analystsÂ’ misforecasting, it is concluded that dvds. appear to be positively priced due to their being a proxy for the mispricing by investors of current earnings or book equity. |
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