The Equity Premium

The equity premium: A puzzle

1985 • 5,686 citations

Business conditions and expected returns on stocks and bonds

1989 • 4,137 citations

Dividend yields and expected stock returns

1988 • 3,736 citations

The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors

1988 • 3,689 citations

The great reversals: the politics of financial development in the twentieth century

2003 • 3,311 citations

Disappearing dividends: changing firm characteristics or lower propensity to pay?

2001 • 2,936 citations

Consumption, Aggregate Wealth, and Expected Stock Returns

2001 • 2,298 citations

A Variance Decomposition for Stock Returns

1991 • 1,817 citations

Toward an Implied Cost of Capital

2001 • 1,800 citations

Equity Premia as Low as Three Percent? Evidence from Analysts' Earnings Forecasts for Domestic and International Stock Markets

2001 • 1,478 citations

The equity risk premium a solution

1988 • 1,322 citations

The Investment, Financing, and Valuation of the Corporation

1963 • 983 citations

Valuation Ratios and the Long-Run Stock Market Outlook

1998 • 816 citations

Earnings and Expected Returns

1998 • 668 citations

Permanent and Transitory Components of GNP and Stock Prices

1994 • 563 citations

Portfolio Choice in the Presence of Background Risk

2000 • 549 citations

Global Stock Markets in the Twentieth Century

1999 • 547 citations

The Investment, Financing, and Valuation of the Corporation.

1963 • 470 citations

Cash Distributions to Shareholders

1989 • 343 citations

Globalization and Capital Markets

2003 • 323 citations

Toward an Implied Cost of Capital

2000 • 321 citations

Survival

1995 • 291 citations

Movements in the Equity Premium

1993 • 276 citations

Are Financial Analysts' Forecasts of Corporate Profits Rational?

1998 • 245 citations

The Shrinking Equity Premium

1999 • 215 citations

Volatility Tests and Efficient Markets: A Review Essay

1991 • 164 citations

Stocks for the long run: the definitive guide to financial market returns & long-term investment strategies

2014 • 155 citations

Stock Prices and Fundamentals

1999 • 132 citations

The Consumption Risk of the Stock Market

2001 • 110 citations

Unbiased Estimators of Long-Run Expected Rates of Return

1974 • 99 citations

U.K. Financial Market Returns, 1955–2000

2001 • 98 citations

The Equity Premium Consensus Forecast Revisited

2001 • 75 citations

What stock market returns to expect for the future?

2000 • 59 citations

Understanding the Aggregate Book-to-Market Ratio

1999 • 57 citations

Survival Bias and the Equity Premium Puzzle

2002 • 50 citations

Stock Market Returns in the Long Run: Participating in the Real Economy

2001 • 30 citations

Share repurchases, dividends, and corporate distribution policy

1995 • 22 citations

Globalization of International Financial Markets

2019 • 4 citations