This report contains the findings from three national surveys of young people’s involvement in sport, undertaken in 1994, 1999 and 2002. The surveys were conducted on behalf of Sport England by the Office of Population Censuses and Surveys (OPCS)in 1994, and Market and Opinion Research International (MORI) in 1999 and 2002.
This report compares the results from all three studies, focusing on key indicators of youngpeople’s involvement in sport, including frequency of participation in over 40 sports, and young people’s views about sport and exercise. Reports outlining the full results from the 1994, 1999 and 2002 studies can be found in separate volumes.
The financial economics literature on risk-return trade-off and risk compensation is voluminous and growing. Most of the theoretical developments in this area focus on short or even instantaneous time frames. Very little is known about risk and its compensation for agents who invest over a long time span. The main interest of this paper is the premium on the dividend flows with an infinite horizon. In numerous attempts to resolve conflicts between theory and empirics, asset pricing models have been extended to include a variety of different preference structures. As Hansen (2008) shows many of these utilities have only transient implications and make no difference in pricing assets with long maturity.
The standard Heckscher-Ohlin model predicts that a country rich in labor, natural resources, physical or human capital has a comparative advantage in goods intensive in the abundant input factors. This view abstracts from market frictions that may arise from agency problems, and presumes that entrepreneurs can enter any industry regardless of its need for outside finance or endowment of collaterizable assets.
