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Specific Human Capital (specific + human_capital)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	100%

Selected Abstracts

Reasons for Wage Rigidity in Germany

LABOUR, Issue 2 2006
Wolfgang Franz
Based on a survey of 801 firms in Germany and an econometric analysis, we find strong support for explanations based on the effects of labour union contracts and efficiency wages that differ between skill groups. Survey respondents indicate that labour union contracts and implicit contracts are important reasons for wage rigidity for the (less) skilled. Specific human capital and negative signals for new hires are causes of the stickiness of wages for the highly skilled. Compared with US evidence, German firms seem to attach more importance to labour union contracts and specific human capital. [source]

Severance Payments and Firm,specific Human Capital

LABOUR, Issue 1 2003
Jens Suedekum
What effect does employment protection through severance payments have on the behaviour of employed workers? We analyse this issue within a stochastic two,period framework where workers decide on human capital investments and find two competing effects: severance payments imply higher job security that fosters human capital formation. At the same time, a lay,off is perceived by the workers to be a weaker penalty if severance payments are provided. This incentive lowers their optimal amount of firm,specific investments. Which effect prevails on balance depends on the distribution of investment returns among firm and workers. For strong positive reactions, employment protection is also in the interests of the firm. [source]

Technology Entrepreneurs' Human Capital and Its Effects on Innovation Radicalness

ENTREPRENEURSHIP THEORY AND PRACTICE, Issue 6 2007
Matthew R. Marvel
Radical innovations transform existing markets, create new markets, and stimulate economic growth. This study investigates how the experience, education, and prior knowledge of technology entrepreneurs relate to innovation radicalness. Findings from a sample of 145 technology entrepreneurs operating within university-affiliated incubators suggest that general and specific human capital are both vital to innovation outcomes. Innovation radicalness was positively associated with formal education and prior knowledge of technology, but negatively associated with prior knowledge of ways to serve markets. This suggests a counterintuitive conclusion,the less technology entrepreneurs know about ways to serve a market, the greater their chances of using technology knowledge to create breakthrough innovations within it. Finally, we discuss configurations of human capital that are likely to bestow unique advantages in the construction of radical innovations. [source]

A DYNAMIC ANALYSIS OF EDUCATIONAL ATTAINMENT, OCCUPATIONAL CHOICES, AND JOB SEARCH,

INTERNATIONAL ECONOMIC REVIEW, Issue 1 2010
Paul Sullivan
This article examines career choices using a dynamic structural model that nests a job search model within a human capital model of occupational and educational choices. Wage growth occurs in the model because workers move between firms and occupations as they search for suitable job matches and because workers endogenously accumulate firm and occupation specific human capital. Simulations performed using the estimated model reveal that both self-selection in occupational choices and mobility between firms account for a much larger share of total earnings and utility than the combined effects of firm and occupation specific human capital. [source]