The Educational Asset Market: A Finance Perspective on Human Capital Investment

Charlotte Christiansen and Helena Nielsen

No 02-10, Working Papers from University of Aarhus, Aarhus School of Business, Department of Economics

Abstract: Like the stock market, the human capital market consists of a wide range of assets, i.e. educations. Each young individual chooses the educational asset that matches his preferred combination of risk and return in terms of future income. A unique register-based data set with exact information on type and level of education enables us to focus on the shared features between human capital and stock investments. An innovative finance-labor approach is applied to study the educational asset market. A risk-return trade-off is revealed which is not directly related to the length of education.

Keywords: Efficient Frontier; Human Capital Investment; Mean-Variance; Performance Measures. (search for similar items in EconPapers)
JEL-codes: G12 I21 J31 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2002-07-29
New Economics Papers: this item is included in nep-cfn and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.hha.dk/nat/WPER/02-10_hsn.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.hha.dk:80 (nodename nor servname provided, or not known)

Related works:
Working Paper: The Educational Asset Market: A Finance Perspective on Human Capital Investment (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hhs:aareco:2002_010

Access Statistics for this paper

More papers in Working Papers from University of Aarhus, Aarhus School of Business, Department of Economics The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark. Contact information at EDIRC.
Bibliographic data for series maintained by Helle Vinbaek Stenholt ( this e-mail address is bad, please contact ).