Sự kết nối phương pháp chiết khấu và phương pháp tổng bình phương bé nhất

Abstract

The aim of the paper analyzes a connection of quantitative methods: (i) discount method, and (ii) ordinary least squares to explain estimators in regressive model on the viewpoint of value measurement, instead of behavior measurement that is the change in one unit of independent variable leading to the change in the beta of dependent variable in linear regressive model. The methodology of research about the connection is based on the theory of observational combination to the smallest errors of Legendre (1805) and Gauss (1825) to determine the average that connect with discount rate in models of asset pricing and net present value. The analysis of the connection contributes to the theories of finance and research methodology to have a full picture of theoretical framework for discount method and ordinary least squares.

Keywords: Average; Discount Method; Ordinary Least Squares.