Temat: rate of return - Prolib Integro

Skocz do pozycji: 1.

Tytuł:: Efekt zewnętrzny wykształcenia
The External Effect of Education
Autorzy:: Strawiński, Paweł
Tematy:: education
external rate of return
excess rate of return
private rate of return
instrumental variables
spillover effect; Pokaż więcej
Wydawca:: Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Powiązania:: https://bibliotekanauki.pl/articles/575744.pdf Link otwiera się w nowym oknie
Opis:: The author sets out to measure the external rate of return on secondary and university-level education in Poland. The rate is defined as the excess rate of return for human capital. However, the author says it is difficult to precisely quantify the rate due to methodological problems and the unavailability of data. The economic model used in the article is based on the comparative advantage theory. The econometric model identifies the external rate of return on education thanks to the use of instrumental variables. The analysis confirms that there was a shift in the structure of demand for higher education in Poland in 1998-2005. The author uses empirical data to show the positive external effect linked with education. The private annual rate of return on education in Poland exceeded 7 percent in 1998-2005 and was among the highest in Europe. Additionally, the author shows that there is an external effect linked with education. It stands at 1%-5% annually, Strawiński says. The results obtained in the analysis were confirmed using various model options and estimation methods. Moreover, Strawiński showed that as the proportion of the population with a secondary education increased, people began to earn higher paychecks. This means that secondary education generates a spillover effect, Strawiński concludes.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: Reakcja rynku kapitałowego na ogłoszenie wezwania do sprzedaży akcji notowanych na Warszawskiej Giełdzie Papierów Wartościowych
Capital Market Reactions to Public Bids for the Sale of WSE- Listed Stock
Autorzy:: Michalewski, Michał
Palica, Zofia
Tematy:: capital market
stock trades
rate of return; Pokaż więcej
Wydawca:: Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Powiązania:: https://bibliotekanauki.pl/articles/575692.pdf Link otwiera się w nowym oknie
Opis:: The authors set out to examine the reactions of the Polish capital market to public bids for the sale of listed stock. The basic method for evaluating the results of public bids for shareholders was an analysis of the rates of return for investment in shares in relation to the date of the bid. In their research, the authors limited themselves to analyzing the reactions of the capital market to transactions involving public bids. The article discusses the results of research on a sample of 140 cases, with a specific date of the public bid and the behavior of stock quotations. The study shows that the bids substantially influenced rates of return for shares on the Polish capital market. Investments ranging from 30 days prior to the bid to 30 days after the bid usually yielded positive rates of return. Moreover, the first public bids on the Polish market, as a new trend, usually yielded higher rates of return than the next bids because the market quickly grew accustomed to them. The behavior of the Polish market-whereby relatively high rates of return continue for about two weeks after the bid-is in line with mature market standards.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: Stopa zwrotu i ryzyko inwestowania w walory spółek branży metalowej notowanych na rynku podstawowym GPW
The rate of return and the investment risk in the shares of the companies of the metal industry quoted on the GWP stock exchange basic market
Autorzy:: Pazio, Wanda J.
Kruk, Marta
Tematy:: akcja
stopa zwrotu
średnia stopa zwrotu
oczekiwana stopa zwrotu
odchylenie standardowe
współczynnik Beta
stock
rate of return
average rate of return
expected rate of return
standard deviation
Beta coefficient; Pokaż więcej
Wydawca:: Wojskowa Akademia Techniczna im. Jarosława Dąbrowskiego
Powiązania:: https://bibliotekanauki.pl/articles/60030303.pdf Link otwiera się w nowym oknie
Opis:: Artykuł obejmuje analizę dochodowości i ryzyka inwestowania w akcje 10 spółek branży metalowej notowanych na rynku podstawowym GPW w latach 2004-2016. Badania w tym zakresie były prowadzone w dwóch przedziałach czasowych: w okresie długim obejmującym 13 lat i krótkim - ostatnie 5 lat. Natomiast średnia dochodowość akcji i klasyczne mierniki ryzyka zostały wyznaczone zarówno na podstawie danych surowych jak i uporządkowanych w postaci szeregów rozdzielczych. W ocenie ryzyka systematycznego posłużono się współczynnikiem beta i na jego podstawie - jak również średniej stopy zwrotu - dokonano klasyfikacji badanych walorów na mapie ryzyka.
The article includes analysis of the profitability and the investment risk in the shares of 10 companies of the metal industry quoted on the GPW stock exchange basic market in the years 2004-2016. The research was conducted in two periods of time: in the long period covering 13 years and the short time - the last 5 years. Whereas the average profitability of shares and the traditional risk measures have been determined on the basis of both the raw data and organized in the frequency distributions. In the evaluation of the systematic risk there was used the beta (β) coefficient and on its based - as well as the average rate of return – studied shares were classified on the risk map.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: Szacowanie wewnętrznej stopy zwrotu inwestycji w wyższe wykształcenie
Evaluation of the Internal Rate of Return for Investment in Higher Education
Autorzy:: Adamczyk, Adam
Jarecki, Wojciech
Tematy:: internal rate of return
investment
higher education; Pokaż więcej
Wydawca:: Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Powiązania:: https://bibliotekanauki.pl/articles/574621.pdf Link otwiera się w nowym oknie
Opis:: Surveys conducted in some of the world’s most developed countries have demonstrated that there is a positive relationship between the level of education and the level of income, Adamczyk and Jarecki write. According to the human capital theory, this effect is due to the growth of productivity. But education is also associated with costs. These costs can be divided into the direct costs of studying and opportunity costs. Thanks to the existence of measurable costs and effects, it is possible to assess the profitability of education. In order to measure the effects of investment in higher education, under the human capital theory, it is necessary to use a function in which the dependent variable is the level of income and the independent variables are age, education, and professional experience. However, this method cannot be used to determine whether or not studying is profitable, because it does not consider the costs of studying, Adamczyk and Jarecki note. They evaluate the profitability of investment in higher education in 2002, 2004 and 2006 using the internal rate of return (IRR) method. The IRR method is commonly used to evaluate the profitability of companies’ long-term investments. It makes it possible to take into account not only the level of effects and costs, but also the moment when they appear. A key advantage of this method is that it makes it possible to compare the effectiveness of investment in education with other kinds of investments, the authors say. The evaluation made by the authors showed that the rate of return was lower than 15 percent but higher than 16 percent, which means it was higher than the risk-free rate of return. In all, the obtained results show that investment in higher education in Poland is profitable. The analysis also demonstrated that the profitability of investment in higher education depends on sex. Men can obtain a higher rate of return than women. Another conclusion is that the profitability of studying can be affected not only by the income level but also by its time distribution.
Dostawca treści:: Biblioteka Nauki

Artykuł

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Skocz do pozycji: 5.

Tytuł:: Investment funds – returns, risk and fees dependencies in Poland and UK in 2015
Autorzy:: Fraś, Alicja
Tematy:: correlation
investment funds
fees
rate of return; Pokaż więcej
Wydawca:: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Powiązania:: https://bibliotekanauki.pl/articles/582993.pdf Link otwiera się w nowym oknie
Opis:: Common phenomenon is the positive relation between risk level and return. Investor would also expect that the higher the mutual fund fee, the more active is the management, so risk is increased. Then, as a payoff for higher charges and risk, he or she anticipates higher returns. It turns out that at least in Poland in 2015 rates of return did not go up as risk increased, and most risky funds lagged by 5 pp. in rates of return. Most expensive funds in Poland lost 8 pp. versus the cheapest, whereas in UK top-fees funds’ returns were 2 pp. lower.
Dostawca treści:: Biblioteka Nauki

Artykuł

na półce

Skocz do pozycji: 6.

Tytuł:: A merger of pension funds - a stochastic model
Problem fuzji funduszy emerytalnych - model stochastyczny
Autorzy:: Białek, Jacek
Tematy:: average rate of return of a group of pension funds
martingale; Pokaż więcej
Wydawca:: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Powiązania:: https://bibliotekanauki.pl/articles/907051.pdf Link otwiera się w nowym oknie
Opis:: In Polish law there exists a definition of the average rate of return of a group of pension funds which, as it was proved by Gajek and Kaluszka (2000), does not satisfy some economic postulates. These authors proposed another definition of the average rate of return. In this paper we consider the problem of a merger of pension funds taking into consideration both measures. We will show that relations between the presented definitions can be different in the case of a merger of any funds.
W polskim prawie funkcjonuje definicja przeciętnej rentowności grupy funduszy emerytalnych, która - jak pokazali Gajek i Kałuszka (2000) - nie spełnia pewnych ekonomicznie zasadnych postulatów. Jednocześnie zaproponowali oni nową miarę dla przeciętnego zwrotu grupy funduszy. W niniejszym artykule omówiony zostaje problem fuzji funduszy emerytalnych z punktu widzenia tych różnych miar. Okaże się, że relacje zachodzące pomiędzy miarami są inne w przypadku, gdy dochodzi do przejęcia któregoś z funduszy.
Dostawca treści:: Biblioteka Nauki

Artykuł

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Skocz do pozycji: 7.

Tytuł:: Arithmetic or Logarithmic Rate of Return? The Impact of the Choice Made on the Distribution Modelling Results
Autorzy:: Czyżycki, Rafał
Wydawca:: Kartprint
Cytata wydawnicza:: Czyżycki, R., (2015), Arithmetic or Logarithmic Rate of Return? The Impact of the Choice Made on the Distribution Modelling Results, [in:] Contemporary Socio-economic Issues and Problems Management – Processes, Bratislava 2016, ss. 19-29
Opis:: The objective of this work is to examine the impact of selection of the type of the rate of return, the distribution and estimation horizon applied on the results of modelling of rates of return. For this purpose, normal and logarithmic rate of return will be used, and the following distributions will be taken into account: skewed normal, skewed t-Student, skewed GED and stable distribution. In addition, in order to specify the significance of maturity of the capital market on the quality of the models obtained, the rate of return from S&P500 and WIG will be subject to modelling.
Dostawca treści:: Repozytorium Centrum Otwartej Nauki

Inne

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Skocz do pozycji: 8.

Tytuł:: WYNIKI FUNDUSZY VENTURE CAPITAL – TENDENCJE ŚWIATOWE A RYNEK POLSKI
Venture Capital funds results – global trends vs. Polish market
Autorzy:: Zasępa, Piotr
Tematy:: venture capital
private equity
rate of return
investment cycle; Pokaż więcej
Wydawca:: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Powiązania:: https://bibliotekanauki.pl/articles/950496.pdf Link otwiera się w nowym oknie
Opis:: This paper presents an analysis of the investment process of venture capital and obtained investment results. The aim of this paper is to characterize the changing trends in the behaviour of returns in the venture capital and private equity in the period 1998-2012, which includes their full investment cycle. The analysis covers Polish, the U.S. and the EU markets.
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 9.

Tytuł:: What Determines the Success of an IPO? Analysis of IPO Underpricing on the Warsaw Stock Exchange
Autorzy:: Małachowski, Paweł
Gadowska dos Santos, Dominika
Tematy:: IPO underpricing
stock exchange debut
initial rate of return; Pokaż więcej
Wydawca:: Uniwersytet Warszawski. Wydział Nauk Ekonomicznych
Powiązania:: https://bibliotekanauki.pl/articles/1356521.pdf Link otwiera się w nowym oknie
Opis:: This article aimed to analyse the factors that influence the level of underpricing of an initial public offering (IPO) on the Warsaw Stock Exchange (WSE), based on the example of 101 companies debuting on the main market between 2010 and 2019. We discuss the theories that explain IPO underpricing and the research conducted so far on the Polish market. In the main part of the article, we present the results of our study aimed at identifying and characterising the hitherto-unrecognised factors determining IPO underpricing, which is a contribution to the current research on WSE trends. Our findings point to three variables that influence the level of underpricing: the involvement of private equity or venture capital funds in the transaction, the rate of return of the WSE Index in the 6 months before the IPO, and the amount of capital offered during the debut.
Dostawca treści:: Biblioteka Nauki

Artykuł

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Skocz do pozycji: 10.

Tytuł:: Metody wyznaczania funkcji wynagrodzeń oraz szacowania okresu zwrotu i stopy zwrotu indywidualnych inwestycji w wyższe wykształcenie
Methods of estimation of wage function, period of return and rate of return of individual investments in higher education
Autorzy:: Natalli, Krzysztof
Tematy:: wage function
period of return and rate of return of individual investments in higher education; Pokaż więcej
Wydawca:: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Powiązania:: https://bibliotekanauki.pl/articles/569820.pdf Link otwiera się w nowym oknie
Opis:: The main purpose of the paper is to present the methods used to estimate wage function, period of return and rate of return of individual investments in higher education. It should allow to show the disadvantages and advanteges of each of them and propose new solutions of calculating profitability of such investments.Aurhor presents measures that responds to the one-time nature of individual investments in higher education (MIRR, NPV, PI) and have been never used before for such researches.
Dostawca treści:: Biblioteka Nauki

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