Valuation Duration of the Stock Market
At the peak of the tech bubble, only 0.57% of market valuation comes from dividends in the
next year. Taking the ratio of total market value to the value of one-year dividends, we obtain …
next year. Taking the ratio of total market value to the value of one-year dividends, we obtain …
Stock Market Duration
Y Li, C Wang - Available at SSRN, 2023 - papers.ssrn.com
At the peak of the tech bubble, only 0.57% of market valuation comes from dividends in the
next year. Taking the ratio of total market value to the value of one-year dividends, we obtain …
next year. Taking the ratio of total market value to the value of one-year dividends, we obtain …
The Return of Return Dominance: Decomposing the Cross-Section of Prices
What explains cross-sectional dispersion in stock valuation ratios? We find that 75% of
dispersion in price-earnings ratios is reflected in differences in future returns, while only 25 …
dispersion in price-earnings ratios is reflected in differences in future returns, while only 25 …