Dividends, earnings and expected return in the context of consumption risk
The consumption literature of asset pricing typically considers only dividend cash flows, based on the theoretical inference that consumption must equal dividends over the long run. Where it is commonly considered that dividends are the smooth permanent component of earnings, while earnings vary wi...
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| Language: | English |
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University of British Columbia
2016
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| Online Access: | http://hdl.handle.net/2429/58127 |