Μερισματική απόδοση και αποδόσεις μετοχών
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Keywords
Αποδόσεις μετοχών ; Μερισματική απόδοση ; Ισπανία ; Ολλανδία ; Φινλανδία ; Μέθοδος ελαχίστων τετραγώνων ; Stock returns ; Dividend yield ; Spain ; Netherlands ; Finland ; Least squares methodAbstract
This paper examines the relation between dividend yields and stock returns. A fourteen years period data are used, specifically the period between 2001 and 2014, for at least 100 stocks of the stock markets of Spain, Netherlands and Finland. The under examination period was divided into two sub periods, one before the financial crisis of 2007 and one after. The data are processed, after the conduction of the appropriate statistical tests, using the simple linear regression model and more specifically the least squares method. The stock returns are set as the dependent variable and the dividend yield is set as the independent one. No statistical important relationship between the two variables resulted from the conduction of the regressions.