The Myth Of The Earnings Yield

The Myth Of The Earnings Yield <a href="http://www.geocities.com/vaksam/">surface-to-air missile Vaknins Psychology, Philosophy, Economics and Foreign Affairs Web Sites A precise slim minority of firms distribute dividends. This truism has revolutionary implications. In the absence of dividends, the foundation of most - if not all - of the fiscal theories we employ in order to determine the prise of sh atomic number 18s, is falsified.

These theories curse on a few implicit and explicit assumptions: (a) That the (fundamental) " take to be" of a share is closely correlated (or even lucifer to) its market (stock exchange or transaction) price (b) That price movements (and volatility) are mostly random, though correlated to the (fundamental) "value" of the share (will constantly converge to that "value" in the long term) (c) That this fundamental "value" responds to and reflects new information efficiently (old information is fully co-ordinated in it) Invest...If you want to get a full essay, order it on our website: Ordercustompaper.com

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