Boundary Conditions for Ratios with Positively Distributed Components
研究分子为分母一部分的两个正分布变量比值的统计性质,提出Johnson有界分布作为模型,并用英国公司财务比率数据验证拟合优度。
This paper describes the statistical properties of the ratio of two positively distributed variables where the numerator is a component of the denominator and where, therefore, the ratio has implicit boundaries of 0 and 1. Johnson's bounded distribution (the S B ) is suggested as a model for ratios of this type, and is derived in this paper as a ratio of lognormal variates. An empirical analysis of bounded financial ratios of UK companies confirms the goodness of fit.