Dividend yield investment strategies in the South African stock market

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dc.contributor.author Erasmus, Nelmarie
dc.date.accessioned 2013-08-26T12:09:24Z
dc.date.available 2013-08-26T12:09:24Z
dc.date.issued 2013-08-26
dc.identifier.uri http://hdl.handle.net/10539/13073
dc.description Thesis (M.M. (Finance & Investment))--University of the Witwatersrand, Faculty of Commerce, Law and Management, Graduate School of Business Administration, 2013. en_ZA
dc.description.abstract The subject of this study posits the profitability of an investment strategy focused on high-dividend yielding securities from the South African stock market over the period of 10 years from 2002 to 2012. The study follows an expected dividend yield model, similar to the model proposed by Hsu and Lin (2010), for the construction of a high-dividend yielding portfolio. Financial data of listed companies’ dividends and other financial information is used to estimate these expected current dividend yields by employing multiple regression analysis. It is suggested that these expected yields better reflect companies’ future profitability than traditional current dividend yields. The results of the study show that the performance differences between the portfolios based on the expected dividend yield model and the benchmark portfolios are significant; however the tests of the model suggest that the model is not a good fit for the data. en_ZA
dc.language.iso en en_ZA
dc.subject Securities en_ZA
dc.subject Johannesburg Stock Exchange en_ZA
dc.subject Investment strategy en_ZA
dc.title Dividend yield investment strategies in the South African stock market en_ZA
dc.type Thesis en_ZA

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