Individual investors and professional fund managers who deploy capital into equity
markets are looking to achieve investment returns that outperform the general
market. In order to achieve this, the ability to identify and implement strategies and
trading rules that are consistently able to outperform the market is critical. It is
against this backdrop that this study will attempt to determine whether a trading
strategy based on dividend yield can be used to outperform the general market in
South Africa. Specifically, this study proposes to test a dividend yield strategy to
create portfolios based on historical data on the JSE, and test whether these
portfolios have outperformed the JSE Top 40 Index over the period of the study
between 2004 and 2012, after adjusting for risk and taxes. This study will also further
test whether high yield portfolios outperform low yield portfolios over the same period
on the JSE. These trading strategies have proven to be successful in other markets
by Dimson et al. (2011) and Visscher and Filbeck, (2003), and this study aims to
investigate whether the same holds in South Africa. / Dissertation (MBA)--University of Pretoria, 2013. / pagibs2014 / Gordon Institute of Business Science (GIBS) / MBA / Unrestricted
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:up/oai:repository.up.ac.za:2263/40563 |
| Date | January 2013 |
| Creators | Fakir, Rashaad |
| Contributors | Thaver, Kuben, ichelp@gibs.co.za |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Mini Dissertation |
| Rights | © 2014 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
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