the basic model for valuation of firm is the dividend discount model (ddm). when investors buy stocks, they expect to receive two types of cash flow: dividend in the period during which the stock is owned, and the expected sales price at the end of the period. in the extreme example, the investor keeps the stock until the company is liquidated; in such a case, the liquidating dividend becomes t...

This paper re-examines the Dollar and Kraay (2002) result that per capita real income for the poorest quintile in a country grows equiproportionately with the rest of the economy. Results obtained here using the Dollar and Kraay data set indicate that the real per capita income of the poor rises less than proportionately when growth is positive and falls dramatically when growth is negative. Th...

the investigation of income inequality effect on private consumption is considered as an important issue in macroeconomic literatures. hence the main objective of this paper is to study the effect of income inequality on private consumption in mena countries during the (1975-2006). for this purpose, the modified qin et al. (2009) model has been estimated by panel data approach. the main finding...