the basic model for valuation of firm is the dividend discount model (ddm). when investors buy stocks, they expect to receive two types of cash flow: dividend in the period during which the stock is owned, and the expected sales price at the end of the period. in the extreme example, the investor keeps the stock until the company is liquidated; in such a case, the liquidating dividend becomes t...

The problem of prediction is revisited with a view towards going beyond the typical nonparametric setting and reaching a fully model-free environment for predictive inference, i.e., point predictors and predictive intervals. A basic principle of model-free prediction is laid out based on the notion of transforming a given setup into one that is easier to work with, namely i.i.d. or Gaussian. As...

There are several procedures in the SAS System for statistical modeling. Most statisticians who use the SAS system are familiar with procedures such as PROC REG and PROC GLM for fitting general linear models. However PROC GENMOD can handle these general linear models as well as more complex ones such as logistic models, loglinear models or models for count data. In addition, the main advantage ...