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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Dividend paying stocks and low interest rate environments |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 54 |
| Date | 2022 |
| Abstract Text | This thesis aims to study whether dividend-paying stocks are able to serve as a fixed income generating asset class for long-term investors by enabling them to benefit from both the regular income streams (i.e., dividend payments) and the potential gain from rising stock prices. By building a model portfolio based on firms of the German DAX index, I find unambiguous results: Due to both the capital appreciation and the com-pounding effects provided by the constituents’ dividend payments, the portfolio’s 15-year performance exceeds its benchmarks. For some investors, however, various con-straints like taxes and regulatory restrictions may diminish the true return. |
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