Control-ownership disparity and stock market Predictability: Evidence from Korean chaebols
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Joe, Denis Yongmin | - |
dc.contributor.author | Oh, Frederick Dongchuhl | - |
dc.contributor.author | Park, Cheolbeom | - |
dc.date.accessioned | 2021-09-02T02:28:54Z | - |
dc.date.available | 2021-09-02T02:28:54Z | - |
dc.date.created | 2021-06-19 | - |
dc.date.issued | 2018-12 | - |
dc.identifier.issn | 1544-6123 | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/71352 | - |
dc.description.abstract | We use Korean firm-level data to examine whether the predictive ability of log dividend yields depends on the disparity between control and ownership rights. We find that dividend growth predictability via the log dividend yield grows as the disparity between control and ownership rights increases. However, we find that log dividend yields have no significant predictive power for stock returns. Our results are generally consistent with the US firm-level results in Vuolteenaho (2002) and provide a further explanation of why the predictability of log dividend yields for dividend growth differs across firms. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | ACADEMIC PRESS INC ELSEVIER SCIENCE | - |
dc.subject | VARIANCE | - |
dc.subject | RETURNS | - |
dc.title | Control-ownership disparity and stock market Predictability: Evidence from Korean chaebols | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Joe, Denis Yongmin | - |
dc.contributor.affiliatedAuthor | Park, Cheolbeom | - |
dc.identifier.doi | 10.1016/j.frl.2018.01.003 | - |
dc.identifier.scopusid | 2-s2.0-85041288285 | - |
dc.identifier.wosid | 000454462300002 | - |
dc.identifier.bibliographicCitation | FINANCE RESEARCH LETTERS, v.27, pp.6 - 11 | - |
dc.relation.isPartOf | FINANCE RESEARCH LETTERS | - |
dc.citation.title | FINANCE RESEARCH LETTERS | - |
dc.citation.volume | 27 | - |
dc.citation.startPage | 6 | - |
dc.citation.endPage | 11 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.description.journalClass | 1 | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Business & Economics | - |
dc.relation.journalWebOfScienceCategory | Business, Finance | - |
dc.subject.keywordPlus | VARIANCE | - |
dc.subject.keywordPlus | RETURNS | - |
dc.subject.keywordAuthor | Control-ownership disparity | - |
dc.subject.keywordAuthor | Dividend yield | - |
dc.subject.keywordAuthor | Dividend growth predictability | - |
dc.subject.keywordAuthor | Stock return predictability | - |
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