Gordon and Shapiro (1956 Management Sci. 10 102–10) first equated the price of a share with the present value of future dividends and derived the well known relationship. Since then, there have been many improvements on the theory. For example, Thompson (1985 Managerial Decis. Economics 6 132–40, 1987 Managerial Decis. Economics 8 321–32) combined the ‘dividend yield plus growth’ method with Bo...

the main purpose of this study was to estimate the market demand of tractor stock in africa, west asia and other target markets for iran manufactured tractors. box and jenkins, and exponential smoothing methods were applied, using data from 1961 to 2006. results indicated that demand for tractor stock in the target markets will be approximately 533 thousand sets in 2012 and consequently the ann...

A class of autoregressive moving-average (ARMA) models proposed by J rgensen and Song [Journal of Applied Probability (1998), vol. 35, pp. 78–92] with exponential dispersion model margins are useful to deal with non-normal stationary time series with high-order autocorrelation. One property associated with the class of models is that the projection process takes the exact form of the classical ...

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Time-series analysis, a relatively uncommon technique in ecological studies, has been applied to annual tree growth-ring series. In agreement with earlier North American work, ARMA(1,1) models were found to be the predominant form for expressing stochastic growth processes, occurring in 58% of the 36 Nothofagus menziesii and N. solandri time-series examined. The remaining 42% conformed to an AR...

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