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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | The Value of Dividend Growth Models in Nord American Stock Markets |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 52 |
| Date | 2023 |
| Abstract Text | Criticism towards the “standard” Dividend Growth Model (Gordon Growth Model) and its exponential growth pattern have sprouted alternative models such as the “modified” Dividend Growth model, with a linear growth pattern, introduced by Balschun and Schindler (2015). Applying standard portfolio construction techniques, this thesis asses if the models can enhance the portfolio management process regarding risk-adjusted excess returns within the North American stock markets. The investment universe is given by the S&P500 from 2003 until 2022. Based on the “modified” Dividend Growth Model, value is provided with certain input parameters, whereas the “standard” Dividend Growth Model does not provide value. |
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