Dividend-driven trading strategies: Evidence from the Warsaw stock exchange

Janusz Brzeszczyński, Jerzy Gajdka

    Research output: Contribution to journalArticle

    7 Citations (Scopus)

    Abstract

    This study presents an analysis of dividend-driven trading strategies based on dividend yield growth effects in the Polish stock market in the years 1994-2004. Results indicate that the dividend yield growth portfolios were capable of beating the market in the entire sample period. Their performance, however, was not consistent over time and the highest returns were obtained during final years. Empirical findings based on the analysis of different types of portfolios demonstrate the importance of dividends as a source of significant fundamental information items from stock market companies. At the same time, they show that a dividend investment strategy for the Polish stock market is most successful when the selection of stocks for the dividend yield growth portfolios is subject to further restrictions, most notably concerning company size. © International Atlantic Economic Society 2007.

    Original languageEnglish
    Pages (from-to)285-300
    Number of pages16
    JournalInternational Advances in Economic Research
    Volume13
    Issue number3
    DOIs
    Publication statusPublished - Aug 2007

    Keywords

    • Dividend yield growth
    • Emerging market
    • Investment strategy
    • Portfolio analysis
    • Stock market

    Fingerprint Dive into the research topics of 'Dividend-driven trading strategies: Evidence from the Warsaw stock exchange'. Together they form a unique fingerprint.

  • Cite this