Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5083783 | International Review of Economics & Finance | 2012 | 21 Pages |
Abstract
⺠We find significant evidence for the predictability of returns in Japan. ⺠We exploit dividend growth and implied long-horizon return forecasts. ⺠Direct long-run regressions are not a powerful test of return predictability. ⺠Current cash flow is more important than future cash flow. ⺠The dominant force is attributed to expected future returns.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Sichong Chen,