In this study, we introduce a Gordon's dividend discount model, based on Vector Autoregressive Process (VAR). We provide two Propositions, which are related to generic Gordon growth model and Gordon growth model, which is based on the VAR process.

翻译：本研究提出了一种基于向量自回归过程的戈登股利贴现模型。我们给出了两个命题，分别与一般形式的戈登增长模型以及基于VAR过程的戈登增长模型相关。