Dividend Yield and Stock Return in Different Economic Environment: Evidence from Malaysia

Meysam Safari

MPRA Paper from University Library of Munich, Germany

Abstract: 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: C23 D53 E32 E44 G01 G35 (search for similar items in EconPapers)
Date: 2009-11-01
New Economics Papers: this item is included in nep-fmk and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/23841/1/MPRA_paper_23841.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:23841

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().