capital asset pricing, as one of the basic theories in finance and investment area, develop a model for estimation of expected rate of return and equity cost of capital. this model has many applications in the field of finance. one of anomalies in the capital asset pricing model is the value premium that its proponents believe this risk premium is compensation for a risk not mentioned in origin...

This paper utilizes the self-employed to analyze the observed increase in the educational earnings premium in the 1980’s. The paper compares the predictions of the signaling and human capital models in response to an exogenous demand shock such as a skill-biased technological change. Since the self-employed have no incentive to invest in a costly signal to show to employers their productivity, ...

The wage of the 90th (richest) percentile of the wage distribution in Chile increased faster than the median wage and the wage of the 10th percentile between 1975 and 1990. By contrast, from 1990 onwards the wage of the 10th percentile and the median wage grew faster than the 90th percentile. This is one of many findings showing that wage inequality in Chile has been falling, first slowly, then...

This paper provides new evidence on the impacts of trade reforms on wages. We first introduce a model of trade that combines a non-competitive wage setting mechanism due to unions with a factor abundance hypothesis. The predictions of the model are then econometrically investigated using Argentine data. Instead of achieving identification by comparing industrial wages before and after one episo...

This paper presents firm-level evidence on the dynamics of the relative demand for non-manual workers in Italian manufacturing during the 1990s. The analysis provides a number of interesting results. First, within-firm skill upgrading is the main determinant of the increase in the non-manual wage bill share. By contrast, demand changes associated to trade have shifted employment away from skill...

This paper documents the allocation of skills across cities and estimates the impact of agglomeration on the hedonic prices of worker skills. In contrast to nearly all prior work, the paper focuses directly on fundamental worker skills – including a wide range of cognitive, people, and motor skills -rather than on worker education. To identify these skills, we match occupation skill requirement...

The aim of the present study was to identify the volleyball skills that discriminate in favour of victory. Twenty-four games (n=24) from the Senior Men's Volleyball World Championship played in Italy in 2010 were chosen and analyzed with Data Volley software. The discriminating function was used to identify the discriminating variables, using a canonical structuring coefficient of |SC| ≥ .30. T...

The main purpose of this study was to examine the relationship between flow experience and goal orientation theory, as well as, the differences in flow experience based on the orthogonal model of goal orientation theory. Two hundred and seventy eight athletes completed the Task and Ego Orientation Sport Questionnaire based on how they usually feel. The challenge and skills ratings were complete...

Skill biased technical change arrived to Hungary with the transition to market economy. As Hungary integrated into the international economy, technical change progressed much faster in some sectors than in mature market economies. That lead to increasing skill premia, intensive rent sharing, and additional benefits for workers at innovative firms. This paper analyses wage setting at Hungarian f...