Risk Premium for Loss of Employment in Polish Regions
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 amoun...
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| Format: | Article |
| Language: | English |
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University of Applied Sciences in Bielsko-Biała
2016-02-01
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| Series: | Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej |
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| Online Access: | https://asej.eu/index.php/asej/article/view/256 |
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| _version_ | 1850159090501681152 |
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| author | Jan Ostoj |
| author_facet | Jan Ostoj |
| author_sort | Jan Ostoj |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-01629029143d475caba73ca8c6e4822a |
| institution | OA Journals |
| issn | 2543-9103 2543-411X |
| language | English |
| publishDate | 2016-02-01 |
| publisher | University of Applied Sciences in Bielsko-Biała |
| record_format | Article |
| series | Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej |
| spelling | doaj-art-01629029143d475caba73ca8c6e4822a2025-08-20T02:23:40ZengUniversity of Applied Sciences in Bielsko-BiałaZeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej2543-91032543-411X2016-02-01224Risk Premium for Loss of Employment in Polish RegionsJan Ostoj0Wyższa Szkoła finansów i Prawa w Bielsku-Białej Finansów i Technologii Informatycznych Bankowości i FinansówOn 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. https://asej.eu/index.php/asej/article/view/256risk premiumlabour marketequity premium puzzleeconomic migrationintellectual capital of the region. |
| spellingShingle | Jan Ostoj Risk Premium for Loss of Employment in Polish Regions Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej risk premium labour market equity premium puzzle economic migration intellectual capital of the region. |
| title | Risk Premium for Loss of Employment in Polish Regions |
| title_full | Risk Premium for Loss of Employment in Polish Regions |
| title_fullStr | Risk Premium for Loss of Employment in Polish Regions |
| title_full_unstemmed | Risk Premium for Loss of Employment in Polish Regions |
| title_short | Risk Premium for Loss of Employment in Polish Regions |
| title_sort | risk premium for loss of employment in polish regions |
| topic | risk premium labour market equity premium puzzle economic migration intellectual capital of the region. |
| url | https://asej.eu/index.php/asej/article/view/256 |
| work_keys_str_mv | AT janostoj riskpremiumforlossofemploymentinpolishregions |