Risk Premium for Loss of Employment in Polish Regions
Journal Title: Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej - Year 2018, Vol 22, Issue 4
Abstract
On the basis of the income-based valuation method of intellectual capital of the region in the previous papers, the author discovers a need for a valuation of the risk premium which should be included in the rate that discounts income from work. Undoubtedly, both the loss of employment and the amount of income from work contribute to the intuitive calculation in the economic migration. The income-based valuation of the right to a certain sequence of income at a certain risk level properly integrates these factors as one value, providing a clear criterion of selection. Due to the fact that the labour market does not generate the values that allow the adaptation of the CAPM model, there was offered the original method of the risk premium valuation which provides the results analogous to those based on the CAPM model, and it was applied for the particular provinces in Poland. As a result, there was revealed the equity premium puzzle of the Polish labour market. Because of the significant amount of estimates, the obtained results are the first step towards the problem.<br/><br/>
Authors and Affiliations
Jan Ostoj
USE OF SELECTED INSTRUMENTS OF MANAGEMENT FOR THE IMPROVEMENT OF ECONOMIC SECURITY IN NATIONAL ENERGY SECTOR -RESEARCH REPORT
The paper discusses the issues of functioning of management and supervisory boards and the use of audit tools in companies from Polish energy sector. The text provides a summary of survey on functioning of supervisory bo...
CHANGES IN MACRO AND MICRO-PRUDENTIAL SUPERVISION IN THE EUROPEAN UNION AND POLAND AFTER 2008
The financial crisis in the first decade of this century made economists, politicians and financial institutions realize the need for changes, especially in the area of supervision over markets. It should take place both...
ACQUISITION OF LOCAL GOVERNMENT PROPERTY
The aim of the paper is to describe different ways to acquire property by local government units. The authors discusses ways and conditions for the acquisition of local government units and the consequences of such actio...
Assessment of the validity of the dog fee in the Silesian Voivodeship - the authors’ own research
Effective implementation of pro bono tasks by local government units may be carried out only if they obtain the necessary income. One of the types of own revenue of local government units on communal level (LGUs) is the...
WYBRANE MOŻLIWOŚCI IDENTYFIKACJI (DETEKCJI) DELIKTÓW SKARBOWYCH W REALIACH REPUBLIKI SŁOWACKIEJ
Celem opracowania jest przedstawienie możliwości identyfikacji przestępstw i wykroczeń skarbowych przez wyspecjalizowane instrumenty systemu bezpieczeństwa wewnętrznego Republiki Słowackiej. W tekście przybliżono m.in. f...