Can the Dividend Yield Strategies Beat the Market? Evidence from the Polish Stock Market 1994-2004

Janusz Brzeszczynski and Jerzy Gajdka ()
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Jerzy Gajdka: University of Lodz, Poland

Chapter 3 in FindEcon Monograph Series: Advances in Financial Market Analysis, 2006, vol. 1, pp 45-59 from University of Lodz

Abstract: Chapter 3 examines the performance of different size portfolios composed of high dividend yield stocks from the Polish stock market. The portfolios were rebalanced over 10 years from 1994 to 2004. It has been shown that many of the simulated portfolios outperformed the market. The analysis was also focused on portfolio diversification benefits and established the relationship between the excess returns of the high dividend yield portfolios relative to the market and the dynamics of the dividend yield indicators.

Keywords: Stock market; Investment strategy; Dividend (search for similar items in EconPapers)
JEL-codes: C01 E02 F00 G00 (search for similar items in EconPapers)
Date: 2006
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