A data set of comparable estimates of the private rate of return to schooling in the world, 1970–2014

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Claudio E. Montenegro ◽  
Harry Anthony Patrinos
Keyword(s):  
Returns To Education ◽  
Empirical Work ◽  
Estimation Method ◽  
Rate Of Return ◽  
Data Set ◽  
Returns To Schooling ◽  
Content Type ◽  
Return To Schooling ◽  
Definition Of ◽  
Private Rate

PurposeYoung people experience lower employment, income and participation rates, as well as higher unemployment, compared to adults. Theory predicts that people respond to labor market information. For more than 50 years, researchers have reported on the patterns of estimated returns to schooling across economies, but the estimates are usually based on compilations of studies that may not be strictly comparable. The authors create a dataset of comparable estimates of the returns to education.Design/methodology/approachThe data set on private returns to education includes estimates for 142 economies from 1970 to 2014 using 853 harmonized household surveys. This effort holds the constant definition of the dependent variable, the set of controls, sample definition and the estimation method for all surveys.FindingsThe authors estimate an average private rate of return to schooling of 10%. This provides a reasonable estimate of the returns to education and should be useful for a variety of empirical work, including critical information for youth.Originality/valueThis is the first attempt to bring together surveys from so many countries to create a global data set on the returns to education.

Education, Earnings, and Returns to Schooling in Tunisia

2018 ◽  
Author(s):  
Imed Limam ◽  
Abdelwahab Ben Hafaiedh
Keyword(s):  
Basic Education ◽  
Returns To Education ◽  
International Standards ◽  
Returns To Schooling ◽  
High Productivity ◽  
Return To Schooling ◽  
Early Life Conditions ◽  
Low Exposure ◽  
Main Determinants

This chapter aims at identifying the main determinants of earnings and at estimating the private returns to education in Tunisia. The private rate of return to schooling is relatively low by international standards, especially for basic education. It is argued that in addition to the limited capacity of the economy to create high-productivity jobs, institutional factors may explain the low and heterogeneous returns to education in Tunisia. The returns to schooling are found to increase with the level of education. Regional disparities in earnings and returns to higher education may be explained by the lack of economic opportunities and low exposure to market forces in many inland regions, and also by differentiated early-life conditions as well as inequality of opportunity in access to quality education. These results are used to suggest directions to strengthen the role of public policies in reducing inequality of opportunities in both schooling and earnings.

Modeling debt choice in agriculture: the effect of endogenous asset values

2017 ◽  
Vol 77 (1) ◽  
pp. 95-110 ◽  
Author(s):  
Maria Bampasidou ◽  
Ashok K. Mishra ◽  
Charles B. Moss
Keyword(s):  
Panel Data ◽  
Interest Rate ◽  
Agricultural Sector ◽  
Macroeconomic Policy ◽  
Rate Of Return ◽  
Data Set ◽  
Content Type ◽  
Asset Values ◽  
The Usa ◽  
Non Parametric

Purpose The purpose of this paper is to investigate the endogeneity of asset values and how it relates to farm financial stress in US agriculture. The authors conceptualize an implied measure of farm financial stress as a function of debt position. The authors posit that there are variations in the asset values that are beyond the farmer’s control and therefore have implications on farm debt. Design/methodology/approach The framework recognizes the endogeneity of return on assets (ROA). It uses a non-parametric technique to approximate the variance of expected ROA (VEROA). The authors model the rate of return on agricultural assets and interest rate with a formulation that focuses on macroeconomic policy. Further, the authors use a dynamic balanced panel data set from 1960 to 2011 for 15 US agricultural states from the Agricultural Resource Management Survey, and information from traditional state-level financial statements. Findings Estimation of linear dynamic debt panel data models accounting for the endogeneity of ROA and VEROA is a challenging task. Estimated variances are unstable. Hence, the authors focus on variance specification that uses the residuals squared from the ARIMA specification and non-parametric estimators. Arellano-Bover/Blundell-Bond generalized method of moments estimation procedures, although may be biased, show that VEROA has a negative and significant effect on the total amount of debt in the agricultural sector. Research limitations/implications The instruments used in this analysis are lagged regressors which may be weakly correlated with the relevant first-order condition, hence not properly identifying the parameters of interest. Future research could include the identification of better instruments, potentially use of sequential moment conditions. Originality/value Unlike previous study, the authors use non-parametric approximation of VEROA. The authors model the rate of return on agricultural assets and interest rate with a formulation that focuses on macroeconomic policy. Second, the authors make use of a large dynamic balanced panel data set from 1960 to 2011 for 15 agricultural states in the USA. To the best of the authors’ knowledge, this study is one of the few that provides evidence on risk-balancing behavior at the agricultural sector level, of the USA.

Conversion potential: a metric for evaluating search engine advertising performance

2017 ◽  
Vol 11 (2) ◽  
pp. 142-159 ◽  
Author(s):  
Bernard J. Jansen ◽  
Theresa B. Clarke
Keyword(s):  
Search Engine ◽  
Retail Sector ◽  
Data Set ◽  
Content Type ◽  
Academic Literature ◽  
Working Definition ◽  
Search Engine Advertising ◽  
Practical Tool ◽  
Definition Of ◽  
Practical Implications

Purpose This research is based on the premise that current metrics for search engine advertising (SEA) are misleading and do not sufficiently allow managers to evaluate traffic and conversions simultaneously. This study aimed to conceptually develop and assess conversion potential (CvP) as a unifying construct for both measuring and evaluating the performance of SEA campaigns. Design/methodology/approach A data set of nearly seven million records covering almost three years of a multi-million-dollar keyword marketing campaign from a major US retailer was used to validate the construct of CvP. Findings Results empirically validate how CvP measures both campaign traffic and sales in SEA, using the optimization factor of ad rank, which is one of many possible factors. Research limitations/implications Although the data set is large and covers a lengthy period of time, it is limited to one company in the retail sector. Practical implications The research instantiates CvP as a metric for overall SEA account performance while demonstrating that it is a practical tool for future campaign planning. The metric simultaneously incorporates a sales ratio and a traffic ratio. Originality/value This is the first study to formalize and provide a working definition of CvP in the academic literature. The contribution is a theoretical and practical managerial framework to mutually evaluate, measure and make decisions about SEA efforts.

Using the eurostat-OECD definition of high-growth firms: a cautionary note

2015 ◽  
Vol 4 (1) ◽  
pp. 50-56 ◽  
Author(s):  
Sven-Olov Daunfeldt ◽  
Dan Johansson ◽  
Daniel Halvarsson
Keyword(s):  
Small Firms ◽  
High Growth ◽  
Growth Patterns ◽  
Firm Level ◽  
Data Set ◽  
Content Type ◽  
Level Data ◽  
Growth Firms ◽  
Definition Of ◽  
Practical Implications

Purpose – High-growth firms (HGFs) have attracted an increasing amount of attention from researchers and policymakers, and the Eurostat-Organisation for Economic Co-operation and Development (OECD) definition of HGFs has become increasingly popular. The paper aims to discuss this issue. Design/methodology/approach – The authors use a longitudinal firm-level data set to analyze the implications of using the Eurostat-OECD definition. Findings – The results indicate that this definition excluded almost 95 percent of surviving firms in Sweden, and about 40 percent of new private jobs during 2005-2008. Research limitations/implications – The proportion of small firms and their growth patterns differ across countries, and the authors therefore advise caution in using this definition in future studies. Practical implications – Policy based on the Eurostat-OECD definition of HGFs might be misleading or even counterproductive. Originality/value – No previous studies have analyzed the implications of using the Eurostat-OECD definition of HGFs.

Determining wine relevant markets

2020 ◽  
Vol 32 (4) ◽  
pp. 523-536
Author(s):  
Exequiel Romero-Gómez ◽  
Gustavo Ferro
Keyword(s):  
Competition Policy ◽  
A Priori ◽  
Empirical Work ◽  
Product Category ◽  
Relevant Market ◽  
Content Type ◽  
Pros And Cons ◽  
Definition Of ◽  
The Empirical Analysis ◽  
Empirical Methodology

Purpose This study aims to verify how the product-relevant market for wines should be defined. To do so, the authors apply an empirical methodology to determine the levels of substitution among wine-categories, identifying each relevant market in Argentina. Design/methodology/approach The authors perform an econometric analysis applying the nested logit methodology that will enable us to estimate cross elasticities in wine segments in the Argentine market. The database contains 1,367 brands and a maximum of 395 firms offering products of different segments. If cross elasticities between wine segments are positive and significantly different to zero, the products belong to the same relevant market. In the methodological section, the authors discuss the pros and cons of this approach and its alternatives, while in the empirical analysis, they perform several robustness controls. Findings The proposed method and results provide an alternative to exogenously defining where each product category begins and ends. The results show that the relevant market for wines should be segmented by categories as the substitution between each one is very low. Research limitations/implications In this empirical work, the study analyzes whether each segment constitutes a relevant, independent market. In Argentina, the practice of competition policy does not recognize substitution between different categories of wine; thus, each category constitutes a relevant market by itself, while according to the international practice, the relevant market includes all wine categories. The results suggest exploring the existence of different relevant markets of wine. Practical implications Under the label “wine,” different types or qualities can act as substitutes among them in different possible relevant markets. A more precise definition of relevant markets permits informed decisions facing proposed mergers or anticompetitive practices. Social implications This study provides a mechanism to determine the levels of substitution among wine categories (i.e. to find the boundaries of each relevant market). Wine is a differentiated product and, as such, offers different qualities (categories) for consumers. The consideration of those differences in winery mergers has consequences on social welfare. Originality/value According to the international practice in competition policy, the relevant market includes all wine categories. This study provides an alternative to defining exogenously where each category of product begins and ends and does not assume a priori the direction or intensity of substitution among products.

Returns to education and occupations for Canadian Aboriginal people

2017 ◽  
Vol 44 (12) ◽  
pp. 2224-2237
Author(s):  
Lida Fan ◽  
Keith Brownlee ◽  
Nazim N. Habibov ◽  
Raymond Neckoway
Keyword(s):  
Returns To Education ◽  
Aboriginal People ◽  
Well Being ◽  
General Term ◽  
Data Set ◽  
Content Type ◽  
Explanatory Variables ◽  
The Public ◽  
Dollar Amount

Purpose The purpose of this paper is twofold. First, drawing on a unique data set, the authors estimate the returns to education for Canadian Aboriginal people. Second, the authors explore the relationship between occupation and the economic well-being, measured as income, of Aboriginal people in an effort to provide a better understanding of the causes of income gaps for Aboriginal people. Design/methodology/approach The data used in this study is the Public Use Microdata File of Aboriginal People’s Survey, 2012. An ordered logit model is used to estimate the key determinants for income groups. Then the marginal effects of each variable, for the probability of being in each category of the outcomes, are derived. Findings All the explanatory variables, including demographic, educational and occupational variables, appeared statistically significant with predicted signs. These results confirmed relationships between income level and education and occupations. Research limitations/implications The data limitation of income, as a categorical variable prevents the precise estimation of the contributions of the dependent variables in dollar amount. Social implications In order to substantially improve the Aboriginal people’s market performance, it is important to emphasise the quality of their education and whether their areas of study could lead them to high-skilled occupations. Originality/value Attention is paid to the types of human capital rather than the general term of education.

scholarly journals Estimating the Returns to Schooling: A Comparison of Fixed Effects and Selection Effects Models for Twins

2020 ◽  
Vol 61 (1) ◽  
pp. 15-30
Author(s):  
A. Agyeman
Keyword(s):  
Fixed Effects ◽  
Goodness Of Fit ◽  
Standard Errors ◽  
Selection Effects ◽  
Fixed Effects Model ◽  
Economic Returns ◽  
Data Set ◽  
Returns To Schooling ◽  
Return To Schooling ◽  
The Relationship

Strong empirical links exist between the number of years spent schooling and earnings. How­ever, the relationship may be masked due to the effect of unobserved factors that influence both wages and schooling. Two of the main econometric models, namely fixed-effects and se­lection-effects, used to analyse returns to schooling were compared using monozygotic and di­zygotic twins’ datasets in Ghana. The efficiency of the models was assessed based on the stan­dard errors associated with the return to schooling estimates. Goodness of fit measures was used as a basis for comparison of the performance of the two models. The results revealed that based on their standard errors, the regression estimates from the selection effects model (MZ = 0.1014±0.0197; DZ = 0.0947±0.0095) were more efficient than the regression estimates from the fixed-effects model (MZ = 0.1115±0.0353; DZ = 0.082±0.0127). However, the AICc values of the fixed effects model (MZAICc = 57.8 and DZAICc = 105.4) were smaller than the AICc values of the selection effects model (MZAICc = 151.6 and DZAICc = 221.6). Findings from the study indicate that, although both models produced consistent estimates of the economic returns to schooling, the fixed effects model provided a better fit to the twins’ data set.

scholarly journals Entrepreneurial approach for open innovation: opening new opportunities, mapping knowledge and highlighting gaps

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Giulia Flamini ◽  
Massimiliano Matteo Pellegrini ◽  
Mohammad Fakhar Manesh ◽  
Andrea Caputo
Keyword(s):  
Literature Review ◽  
Bibliometric Analysis ◽  
Systematic Literature Review ◽  
Open Innovation ◽  
Design Methodology ◽  
Strategic Partnership ◽  
Data Set ◽  
Content Type ◽  
Entrepreneurial Opportunities ◽  
Definition Of

PurposeSince the first definition of open innovation (OI), the indivisible relationship between this concept and entrepreneurship was undeniable. However, the exact mechanisms by which an entrepreneurial approach may benefit OI processes and vice versa are not yet fully understood. The study aims to offer an accurate map of the knowledge evolution of the OI–entrepreneurship relationship and interesting gaps to be filled in the future.Design/methodology/approachThe study adopted a bibliometric analysis, coupled with a systematic literature review performed over a data set of 106 peer-reviewed articles published from 2005 to 2020 to identify thematic clusters.FindingsThe results show five thematic clusters: entrepreneurial opportunities, organisational opportunities, strategic partnership opportunities, institutional opportunities and digital opportunities for OI. Investigating each of them, the authors created a framework that highlights future avenues for further developing the topic.Originality/valueThis study is the first of its kind to systematise, analyse and critically interpret the literature concerned with the topic of the OI–entrepreneurship.

A composite tourism index for the competitiveness of marginal areas: a pilot application in a Southern Italy province

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Valentino Moretto ◽  
Gianluca Elia ◽  
Gianpaolo Ghiani
Keyword(s):  
Southern Italy ◽  
Composite Index ◽  
Open Data ◽  
Tourism Industry ◽  
Data Sources ◽  
Data Set ◽  
Content Type ◽  
Marginal Areas ◽  
Definition Of ◽  
Traditional Approaches

Purpose Differently from traditional approaches that rely on the analysis of single dimensions of the tourism phenomenon, this study aims to experiment a systemic approach based on structured and unstructured data sources to elaborate a composite index to measure the tourist competitiveness of marginal areas, with the final aim to design and plan proper socio-economic development strategies. Design/methodology/approach The methodology adopted to carry out the study follows a four-step process and relies on indicators that are both relevant and accessible. The first step concerns the analysis of the literature about the existing approaches to calculate a tourism index. The second step concerns the definition of the indicators and the collection of data by using both structured and unstructured sources. The third step focuses on the population of the data set. Finally, the fourth step aims at calculating the tourism index through a composite-based methodology and using it for a pilot application in a Southern Italy province. Findings The study calculates a synthetic tourism index for each of the 97 municipalities of the Province of Lecce (a city located in the southeast of Italy). The proposed index combines administrative, institutional and open data sources to derive a single indicator for each municipality, thus supporting decision-makers in understanding the complex reality and competitiveness level of territories in the tourism industry. Originality/value The main elements of originality of the study are the breadth and typology of data sources considered to calculate the composite indicator of tourism competitiveness (both structured and unstructured); and the use of weighting and aggregation procedures in the methodological issues.

Revenue efficiency evaluation of life insurance companies in India: identification of leaders and laggards

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aparna Bhatia ◽  
Megha Mahendru
Keyword(s):  
Life Insurance ◽  
Empirical Work ◽  
Insurance Companies ◽  
Data Envelopment ◽  
Data Set ◽  
Content Type ◽  
Insurance Sector ◽  
Efficiency Performance ◽  
Revenue Efficiency ◽  
Indian Insurance

PurposeThe purpose of this article is to evaluate revenue efficiency performance of life insurance companies in India. The study also compares if private or public insurance sector is more “revenue efficient”. Furthermore, the study determines the nature of return to scale (RTS) and identifies the leaders and laggards amongst insurance companies operating in India.Design/methodology/approachRevenue efficiency is calculated by employing data envelopment analysis – a non-parametric approach, on a data set of 24 insurance companies over the period 2013–2014 to 2017–2018.FindingsThe empirical results suggest that life insurance companies in India could generate only 34.4% of revenue, which is very less than what these are expected to generate from the same inputs. Majority of life insurance companies operating in India are operating at decreasing return to scale (DRS). There is a reduction in leaders and the highest proportion of companies is falling in the category of laggards.Originality/valueAs per the best knowledge of researchers, no empirical work has been carried out with respect to measuring the revenue efficiency of Indian insurance companies. The current study appropriately fills the gap by not only calculating the revenue efficiency scores of insurance companies in India but also provides insights into the causes of revenue inefficiencies. It also gives implications for efficient and effective management of insurance companies.

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