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Dividends and Capital Asset Prices

Journal of Finance 1982 37(4), 1071
Tax based dividend models of capital asset pricing assume that dividends are known at the time prices are set. Dividends which are announced and paid in the same month, and dividends which were expected but cancelled in the month constitute surprises which interfere with many empirical tests of the effects of expected dividend yield on returns. This paper avoids these problems by relating returns to forecasts of dividend yield obtained from past data.

The Pricing of Commodity-Linked Bonds: Discussion

Journal of Finance 1982 37(2), 540
J. E. Ingersoll, The Pricing of Commodity-Linked Bonds: Discussion, The Journal of Finance, Vol. 37, No. 2, Papers and Proceedings of the Fortieth Annual Meeting of the American Finance Association, Washington, D.C., December 28-30, 1981 (May, 1982), pp. 540-541