Early theoretical work on equity valuation suggests that equity prices are determined by variables such as dividends and growth in dividends. This paper employs panel data methodology and equity prices from Athens Stock Exchange to empirically investigate the performance of the traditional models of equity valuation.

G. A. Karathanassis, S. N. Spilioti (2004). An Empirical Examination of Traditional Equity Valuation Models: The case of the Athens Stock Exchange, European Research Studies Journal Volume VII Issue 1-2, 133-142