Search results for "Return"
showing 10 items of 354 documents
ESTIMATION OF RATES OF RETURN TO INVESTMENTS IN EDUCATION IN LATVIA
2021
The aim of the article is to prove the positive impact of education on work salary. For this purpose, the main task of the article is toestimate the Mincer rate of return by taking several factors into account. A secondary task of the research is to analyze the results of2010 and 2011 and to find explanations for the significant differences between the two years. The results of research and a detailedanalysis of the labour market indicate a positive return from attainment of education at an individual level, and they strengthen thehypothesis about a correlation among higher education attainment, higher employment levels and welfare. So far, the Mincer rate ofreturn has not been widely used …
Regional differences in returns to education for entrepreneurs versus wage earners
2010
Many studies suggest that rates of return to schooling are lower for entrepreneurs than for employees, although the opposite has also been reported. This paper analyses the returns to education for entrepreneurs in urban and rural regions in Finland and compares these to the returns for wage earners. These areas show different rates of self-employment, higher rates being found in rural areas and lower rates in urban areas. The analysis is based on a rich, register-based dataset that includes a 7% random sample of all Finns. To avoid potential sources of bias, Mincer-type income equations are estimated using different estimation procedures. The results show regional variation in returns to e…
ESTIMATION OF PRIVATE AND SOCIAL RATES OF RETURN TO INVESTMENTS IN EDUCATION IN LATVIA
2013
The main aim of the paper is to evaluate the rates of return to investments in education at individual and society level as well. The task of the paper is to provide detailed analysis and estimation of the variables which impact the private and social rates of return. It is based on Professor Angel de la Fuente methodology complemented by Mincer earnings function and non-parametric DEA (Data Envelopment Analysis) method to estimate world technological frontier and the technological gap. For this purpose the authors build the matrix with respective years of schooling depending from level of schooling and birth of year taking into account the differences in schooling system since 1940ties. Th…
The Effect of Public Infrastructure on the Private Productive Sector of Spanish Regions
2002
In this paper we analyze the effect of infrastructure on the cost and productivity performance of the private productive sector of Spanish regions over the period 1980–1993. We use a dual approach based on cost functions that allows us to recover the usual parameters estimated with production functions. In addition, we obtain rates of return and cost elasticities of production factors at the regional level. Our framework explicitly considers that some factors are quasi-fixed and their volume can differ from their optimal endowment levels. Our results indicate that the public sector has contributed significantly to enhance productivity and reduce costs in the private sector of almost every S…
Capital humain et compétences de base des adultes : production et valorisation
2013
Basic skills are important in current policies because of high costs generated by illiteracy and supported by the society. The aim of the present thesis is to bring a new contribution on this thematic in a microeconomic approach. It consists of two parts. The first one concerns the valorization of basic skills on the labor market, through chapters 1 and 2, while the second one concerns the production of French skills according to the migratory origins, through chapters 3 and 4. Chapter 1 is about the returns to basic skills on the labor market, in terms of overeducation/undereducation and in terms of wages. The central hypothesis is to assume that education, through the diploma, is not a go…
How do different pathways to higher education foster social mobility for males and females: A comparison of different tracks to higher education in S…
2014
International audience; Over the past decades, educational policy implementations in France and Switzerland have increased the eligibility of those completing (upper or post compulsory) secondary education to access higher or tertiary education, by introducing vocationally orientated programs on the upper secondary level that offer access to higher education. Such policies should help to reduce some of the well-known inequalities in the educational system by improving educational achievement of disadvantaged groups such as students with an immigrant background or those coming from low socioeconomic and cultural households. In this paper we wish to clarify not only if, but also how - through…
Measuring investor sentiment in the stock market
2011
Recently, investor sentiment measures have become one of the more widely examined areas in behavioral finance. A number of measures have been developed in the literature without having been fully validated, and therefore leaving in question which measure should be used for empirical exploration. The purpose of this study is to examine the relative performance of a number of popular measures in predicting stock returns and to test the relative efficacy of a hybrid approach. Using a panel of investor sentiment measures, we develop a new measure of sentiment which combines direct and indirect sentiment measures. Our results show that our composite sentiment index affects the returns of stocks …
RETURN MIGRATION TRENDS IN LATVIA: RE-ATTRACTING THE MAIN HUMAN RESOURCE FOR SUSTAINABLE REGIONAL DEVELOPMENT
2019
This study is devoted to the research of human resources as a main source of sustainable regional development in Latvia. It is focused on two key concepts of human capital and migration. The aim of the study is to explore return migration geographies by looking at young return migrants as a resource and preconditions for sustainable regional development essential to Latvia.Return migration to the regions of Latvia is examined by two main research questions. What are the most recent return migrant characteristics in Latvia? How does return migration of young Latvians translates into regional geographies of return migration?Drawing on most recent available statistical data we elaborate on the…
Variety of Stock Returns in Normal and Extreme Market Days: The August 1998 Crisis
2002
We investigate the recently introduced variety of a set of stock returns traded in a financial market. This investigation is done by considering daily and intraday time horizons in a 15-day time period centered at the August 31st, 1998 crash of the S&P500 index. All the stocks traded at the NYSE during that period are considered in the present analysis. We show that the statistical properties of the variety observed in analyses of daily returns also hold for intraday returns. In particular the largest changes of the variety of the return distribution turns out to be most localized at the opening or (to a less degree) at the closing of the market.
Multiscale Model Selection for High-Frequency Financial Data of a Large Tick Stock by Means of the Jensen–Shannon Metric
2014
Modeling financial time series at different time scales is still an open challenge. The choice of a suitable indicator quantifying the distance between the model and the data is therefore of fundamental importance for selecting models. In this paper, we propose a multiscale model selection method based on the Jensen–Shannon distance in order to select the model that is able to better reproduce the distribution of price changes at different time scales. Specifically, we consider the problem of modeling the ultra high frequency dynamics of an asset with a large tick-to-price ratio. We study the price process at different time scales and compute the Jensen–Shannon distance between the original…