This paper considers optimal educational investment and labour supply with increasing returns to scale in the earnings function In so doing we develop the work of Rosen (1983), who first highlighted the increasing returns argument that arises because private returns to human capital investment are increasing in subsequent utilization rates. We demonstrate that increasing returns generates task ...

Faiz Bilquees Tahir Mukhtar The study explores the causal relationship among export instability, income terms of trade instability and economic growth in India. By using the cointegration test and the vector error correction model for the period 1960 to 2008, the study demonstrates that there exists a long run equilibrium relationship among export instability, income terms of trade instability,...

The paper reports micro-econometric evidence on the factors that influence self-employment choice, earnings and the ability of the self-employed to generate employment for others. It uses recent longitudinal data for the UK, and is therefore able to exploit multiple observations on the same individual to control for unobserved heterogeneity, and mitigate problems of endogeneity which trouble cr...

this paper takes fundamental analysis research beyond the spatial and temporal bounds of previous studies. it was investigated that how detailed financial statement data enter the decisions of market makers by examining how current changes in the fundamental signals chosen can provide information on subsequent earnings changes. using tehran stock exchange’s firms data from 2003 to 2012, the rol...

The level of stock prices on capital markets no longer reflects only the financial health of companies, and invest‐ ors do not carry out their investment decisions based on classical fundamental analyses using accounting informa‐ tion. The level of the diminishing role of accounting information for investment decisions was proven by Lev and Zarowin with a sample of 1,300 companies during the ye...

Since the pioneering work of Gary Becker and Jacob Mincer, the application of investment theory to the study of individuals’ education decisions has become commonplace. People are assumed to weigh short-term costs against future benefits and choose the schooling level that maximizes welfare. This static framework abstracts from uncertainty and suggests that few people should drop out if the mar...

Article history: Received 22 December 2008 Received in revised 4 February 2009 Accepted 6 February 2009 Available online 20 February 2009 This article integrates an earnings-based capital structure model into a simple real options framework to analyze the effects of managerial optimism and overconfidence on the interaction between financing and investment decisions. Several empirical implicatio...

Using a simulation model, the study examines the impact to states and national BHCs if allowed greater participation in securities (segmented into securities brokerage and investment banking), insurance (brokerage, life insurance underwriting, and property-casualty underwriting), or real estate (segmented into five industries ranging from brokerage to development). Utilizing accounting earnings...

In estimating the market value of a property by income approach, the determination of the capitalization rate is ordinarily conducted through analogical process. The procedure is based on the identification of price-earnings ratio of similar investments. The analogy refers to the risk and the duration of the investment. However, in all cases there still remains a rate of uncertainty that signif...

Russia provides an interesting context for studying the labor market experiences of the elderly because of its experience with market transition, its looming growth in the elderly dependency ratio, and its unusual pension policies that do not penalize pensioners for working. We use data from twenty surveys of the Russian population conducted from February 1991 to November 2007 to analyze the la...