Dividend Yield and Stock Return in Different Economic Environment: Evidence from Malaysia
Meysam Safari ()
MPRA Paper from University Library of Munich, Germany
This study investigates the relationship between dividend yields and stock returns in bull and bear markets. Evidences from developed countries show that there should be a positive correlation between dividend yields and stock return in bear markets and a negative correlation between dividend yields and stock return during the bull markets. Findings of this study, in emerging market content, show that there is a positive relation between dividend yield and stock returns in both bull and bear markets which are not consistent with previous works.
Keywords: Dividend Yield; Stock Return; Economic Environment; Bull/Bear Market; Malaysia (search for similar items in EconPapers)
JEL-codes: D53 E32 G35 C23 E44 G01 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:23841
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