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

9 Pages Posted: 11 Nov 2009

Date Written: September 11, 2009

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

JEL Classification: G35

Suggested Citation

Safari, Meysam, Dividend Yield and Stock Return in Different Economic Environment: Evidence from Malaysia (September 11, 2009). Available at SSRN: https://ssrn.com/abstract=1503799 or http://dx.doi.org/10.2139/ssrn.1503799

Meysam Safari (Contact Author)

SEGi University ( email )

Taman Sains Selangor,
Kota Damansara, PJU 5,
Petaling Jaya,, Selangor 47810
Malaysia

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