On the Importance of Measuring Payout Yield: Implications for Empirical Asset Pricing

By A. Sule. 2007

509 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/e8bafbb2cc9378c47e3e20166285ec5197993db6

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In Finance

Citations in the corpus

Financially Constrained Stock Returns (2009, unknown): “These predictions are largely consistent with the empirical evidence (e.g., Titman and Wessels 1988, Smith and Watts 1992, Rajan and Zingales 1995).”
What Drives Stock Price Movements (2013, unknown): “This means that dividends, as a result of corporate policy, are not good at representing the prospect of future cash flows in the more recent sample (e.g., Boudoukh et al. 2007; Larrain and Yogo 2008; Pontiff and Woodgate 2008).”
Growth or Glamour? Fundamentals and Systematic Risk in Stock Returns (2005, unknown): “Boudoukh et al (2007) report that correcting for this e¤ect improves the predictive power of the dividend-price ratio for stock returns.”
Corporate Payout Policy and Product Market Competition (2007, unknown): “We construct measures of total payouts because there is evidence that share repurchases have become an important payout method for many firms (see, for example, Grullon and Michaely (2002) and Boudoukh et al (2007)).”
Predicting Excess Stock Returns Out of Sample: Can Anything Beat the Historical Average? (2008, result): “The relatively weak performance of the dividendprice ratio in this period is consistent with the observation of Boudoukh et al. (2007), who find that in recent years share repurchases have played a more important role in total payouts to shareholders.”
The Time Variation in Risk Appetite and Uncertainty (2019, unknown): “κt+1 = κ0 + ρκκκt + ρ ′ κyY mac t + σκpωp,t+1 + σκnωn,t+1 + σκlωl,t+1 + u κ t+1 (21) ut+1 = σκκωκ,t+1 (22)”
On the Relation between the Credit Spread Puzzle and the Equity Premium Puzzle (2009, unknown): “Following Duffee (1999) and Huang and Huang (2003), we estimate the Baa–Aaa spread for the set of noncallable corporate bonds in the Lehman Brothers fixed-income data set.”
Robust econometric inference for stock return predictability (2011, unknown): “Positive deniteness of the moment matrix E (x1x1) is guaranteed by the positive deniteness of "", the component of in (4) corresponding to the et sequence.”
Dissecting Characteristics Nonparametrically (2020, unknown): “DeMiguel, Martin-Utrera, Nogales, and Uppal (2016) extend the parametric portfolio approach of Brandt et al. (2009) to study which characteristics provide incremental information for the cross section of returns. Specifically, DeMiguel et al. (2016) add long-short characteristic-sorted portfolios to”
The History of the Cross Section of Stock Returns (2016, unknown): “The significance of the net issuance anomaly over the modern, post-1963 sample period has been highlighted, for example, in Daniel and Titman (2006), Boudoukh et al. (2007), Fama and French (2008), and Pontiff and Woodgate (2008).”