A Long-term Casual Nexus between Stock Price and Dividends: Empirical Evidence from the Accepted Firms in Tehran Stock Exchange
Journal Title: Advances in Mathematical Finance and Applications - Year 2016, Vol 1, Issue 1
Abstract
this world; though all the discussions are focused on the causal relationships in all the scientific arguments. One of the methods to study the designed causal relationships objectively is Granger causality test. This paper aims to investigate the longterm causal relationship between the stock price and dividends. The statistical population includes 180 active companies in Stock Exchange of Tehran during 2010-2014. In order to analyze the achieved data statistically, the used specified model has been the regression model using the econometric data panel techniques and to test the research hypotheses and find the specific relationships among the variables, the descriptive-inferential statistics and Eviews software were used. Results indicated that the stock price is not due to the dividends; however, the dividends are the Granger causality of stock price. Also, the type of industry, firm growth index, and systematic risk index are of impact on the relationships between the stock price and dividends.
Authors and Affiliations
Mahboobe Motakiaee
Keywords
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- EP ID EP512499
- DOI 10.22034/AMFA.2016.526243
- Views 88
- Downloads 0
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