Luyang Li

ORCID: 0000-0001-6503-7638
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About
Contact & Profiles
Research Areas
  • Financial Markets and Investment Strategies
  • Monetary Policy and Economic Impact
  • Housing Market and Economics
  • Market Dynamics and Volatility
  • Corporate Finance and Governance
  • Auditing, Earnings Management, Governance
  • Financial Risk and Volatility Modeling
  • Energy, Environment, and Transportation Policies

Xiangtan University
2024

Monash University
2021-2023

This paper revisits the predictability of dividend growth. Motivated by partial adjustment model, we decompose earnings yield into smoothing and residual components. The component reflects variations in forecast dynamics thus forms a powerful predictor Empirically, proposed shows significant in-sample predictive power for aggregate growth at both monthly annual frequencies over several horizons. regression results are robust to reinvestment strategies economic status. More importantly,...

10.2139/ssrn.3783056 article EN SSRN Electronic Journal 2021-01-01
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