The Power Law and Dividend Yields


Lüders, Erik ; Lüders-Amann, Inge ; Schröder, Michael


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URL: http://ub-madoc.bib.uni-mannheim.de/714
URN: urn:nbn:de:bsz:180-madoc-7147
Document Type: Working paper
Year of publication: 2004
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G12 G15 E44 ,
Subject headings (SWD): Macht , Überlegenheit , Integration
Abstract: Recent research suggests that the power law is one of the most universal laws in nature and it also seems to work quite fine in economics and finance. In this paper we show that the power law explains extremely well the relationship between the value of broad-based market indices and their dividends. We also show that this relationship is consistent with declining relative risk aversion of the representative investor. Hence, the power law has a solid economic foundation.
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Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Lüders, Erik ; Lüders-Amann, Inge ; Schröder, Michael (2004) The Power Law and Dividend Yields. Open Access [Working paper]
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