PDR

(redirected from price-dividend ratio)
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PDR

Abbrev. for photodissociation region.

PDR

(engineering)
References in periodicals archive ?
The volatility of the price-dividend ratio is quite high, and it is a very persistent series.
Figure 1 plots the log price-dividend ratio from 1953:II to 2001:IV.
Because of the apparent lack of low-frequency movements in either excess returns or real dividend growth, it is not possible to identify which of these is more important in producing long swings in the price-dividend ratio.
Investors, knowing future dividends will be higher than they are today, bid up stock prices relative to current dividends; then the high price-dividend ratio forecasts the rise in dividends.
t+1] when the price-dividend ratio is expected to be high, and more on the dividend [D.
These expectations imply that rapid dividend growth increases stock prices more than proportionally, so that the price-dividend ratio rises when dividends are growing strongly.
The long-run equilibrium adjustment is given by the demeaned log price-dividend ratio, [y.
Other commonly used valuation ratios include price-sales ratios, price-to-book ratios, and price-dividend ratios.
the price-dividend ratio implied by the dynamic Gordon model (6) and the time series model (10).
The appendix shows that, under these assumptions, the heuristic-based equilibrium stock price differs from the full-information equilibrium price because it stops being a fixed multiple of dividends; on the contrary, the heuristic-based equilibrium price-dividend ratio now contains a time-varying component, fitting the empirical finding that price-dividend ratios are subject to long swings.
t], and the log stock price-dividend ratio or spread, st, used in Campbell and Shiller [1987] and Lee [1995].
Expected returns and excess returns are predictable by price-dividend ratios in the time series and in the cross section, roughly matching value effects and return forecasting regressions.