The “Dogs of the Dow” is a value investing strategy that selects 10 stocks from the Dow Jones Industrial Average on the basis of dividend yield. According to ongoing research by Turner College finance professor Brett Cotten, Turner College student Autumn Wilson and Alan Tidwell of the University of Alabama, this strategy became popular during the 1980s and continues to enjoy a similar popularity today. The new study by Cotten and his coauthors examines a recent variation of the Dogs of the Dow strategy that is referred to as the “S&P Sector Dividend Dogs.” This new strategy variant applies the Dogs of the Dow to the S&P 500 by selecting the five highest dividend yielding companies from each of the 11 sectors in the index. Preliminary findings from raw returns suggest that Sector Dividend Dogs outperformed the S&P 500 in 12 of the 18 years analyzed. On an annual basis, Sector Dividend Dogs earned an average raw return that was about 7.7 percentage points higher than the return for the S&P 500. Perhaps more importantly, raw returns data indicate that Sector Dividend Dogs outperformed Dogs of the Dow in 10 of the 18 years. On an annual basis, Sector Dividend Dogs earned an average raw return that was about 3.4 percentage points higher than the return for Dogs of the Dow. When the data are adjusted for systematic risk, Sector Dividend Dogs outperformed the S&P 500 in 13 of the 18 years analyzed, while it outperformed Dogs of the Dow in 15 of the 18 years analyzed.
Jung Exploring Influence of Confucianism on Luxury Brand Performance in China, Japan and South Korea
In a recent chat with Turner Business , Turner College professor of marketing Sungwoo Jung made the point that luxury brands are gaining the degree of influence in many developing countries that they enjoy now in developed countries. He has been pondering this issue as part of his international marketing research program, which typically focuses on advertising, pioneering advantages and multi-cultural analysis. Currently, Jung is concentrating his energies on a cross-cultural analysis of brand equity that highlights luxury brands’ performance. His research finds that China, Japan and South Korea have each seen an increase in market share for luxury brands in recent years. As Jung explained to Turner Business , “These three countries share a common philosophical background – Confucianism.” With that point in mind, Jung and his coauthors are currently engaged in an investigation of how Confucianism influences consumer behavior in these three Asian countries, and how that behavior im
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