Distributional characteristics and proportionality of market-based security ratios

Jukka Perttunen and Teppo Martikainen
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Jukka Perttunen: University of Vaasa
Teppo Martikainen: university of Vaasa

Finnish Economic Papers, 1990, vol. 3, issue 2, 125-133

Abstract: The distributional characteristics and the proportionality of two market-based security ratios, the Earnings Yield and the Dividend Yield, are tested using Finnish data. The results indicate both of the ratios to be proportional in nature. However, being positively skewed, the Dividend Yield ratio requires transformation to achieve normality. This is due to the fact that this ratio has a technical limit to zero.

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:fep:journl:v:3:y:1990:i:2:p:125-133

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