The Evaluation of Private Investments οn Greek Post Secondary Initial Vocational Education and Training

Authors

  • Stefanos Chanis
  • Constantinos Tsamadias Harokopio Uninersity, Athens

Keywords:

Post Secondary Vocational Education and Training, Human Capital, Evaluation, Cost-Benefit Analysis, Mincer method, Greece

Abstract

In Greece, Post Secondary Initial Vocational Education and Training (PSIVET) is a sub-system of Life Long Learning. The study evaluates, ex-post, the profitability of private investments to PSIVET. It estimates the rates of return by using both cost-benefit and Mincer methods. Mincer method is applied by using the actual and the potential experience. Stratified sampling has been employed with a proportional distribution throughout the country’s private sector in order to derive a sample from the earnings data. Also, data on private cost have been used.

The empirical results have shown that the rates of return of the private investment to PSIVET by using both internal rates of return and Mincer method with actual experience converge. The results (4.8%) are slightly satisfactory. Τhe result from Mincer method by using potential experience is much higher. Moreover, sensitivity analysis has shown that the rates of return are increased by 33.3 to 37.8 %, when the duration of studies in PSIVET system is decreased by one semester (25 %).

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Published

2013-10-01

How to Cite

Chanis, S., & Tsamadias, C. (2013). The Evaluation of Private Investments οn Greek Post Secondary Initial Vocational Education and Training. International Journal of Economic Practices and Theories, 3(4), 232-244. Retrieved from http://ijept.eu/index.php/ijept/article/view/The_Evaluation_of_Private_Investments_in_Greek_Post_Secondary_

Issue

Vol. 3 No. 4 (2013)

Section

Articles

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