nep-hrm New Economics Papers
on Human Capital and Human Resource Management
Issue of 2010‒03‒13
seven papers chosen by
Fabio Sabatini
University of Siena

  1. Effects of Regional Human Capital Structure on Business Entry: A Comparison of Independent Startups and New Subsidiaries in Different Industries By Kenta Ikeuchi; Hiroyuki Okamuro
  2. Human Capital and Innovation: Evidence from Panel Cointegration Tests By Teles, Vladimir Kuhl; Joiozo, Renato
  3. Time Preference and the Distributions of Wealth and Income By Richard M. H. Suen
  4. Technology and Demand for Skilled Labor in Turkish Private Manufacturing Industries By Tolga Aksoy
  5. The Solaria Syndrome: Social capital in a growing hypertechnological economy By Antoci Angelo; Sabatini Fabio; Sodini Mauro
  6. The Macroeconomic Impact of Skilled Emigration from South Africa: A CGE Analysis By Heinrich R Bohlman
  7. Family Ownership and Returns on Investment – Founders, Heirs, and External Managers By Eklund, Johan E.; Palmberg, Johanna; Wiberg, Daniel

  1. By: Kenta Ikeuchi; Hiroyuki Okamuro
    Abstract: This paper aims to investigate the regional determinants of entry with special attention to the effects of regional human capital, using prefecture-level data from Japan. On the basis of some recent studies in the field, we investigate the effects of several regional factors on business entry, distinguishing between independent startups and new subsidiaries of existing firms on the one hand, and comparing different sectors on the other. Using pooled regional data at the prefecture level for our periods between 1996 and 2006, we estimate the impact of various regional factors, including human capital structure, on the number of independent startups and new subsidiaries for each industry sector, simultaneously. Estimation results demonstrate considerable differences between independent startups and subsidiaries as well as among different industry sectors with regard to the impact of regional human capital structure on business entry. First, the entry of independent startups in the manufacturing sector is positively related with regional human capital. Second, in contrast to our hypothesis, we found a positive relationship between regional human capital structure and the entry of new subsidiaries in the service sector. Third, the regional human capital structure is more important for regional entrepreneurship in more technology-intensive (high-tech) service industries. Considering the possible implications, we suggest that the regional policy to activate business startups should focus more on the differences between encouraging local entrepreneurship and attracting new subsidiaries, and recognize that these differences may vary even within the service sector, depending on what type of human capital is required.
    Keywords: entry, region, independent startup, subsidiary, entrepreneurial human capital
    JEL: L26 M13 R32
    Date: 2010–02
  2. By: Teles, Vladimir Kuhl; Joiozo, Renato
    Abstract: Panel cointegration techniques applied to pooled data for 27 economies forthe period 1960-2000 indicate that: i) government spending in education andinnovation indicators are cointegrated; ii) education hierarchy is relevant whenexplaining innovation; and iii) the relation between education and innovation canbe obtained after an accommodation of a level structural break.
    Date: 2010–02–22
  3. By: Richard M. H. Suen (Department of Economics, University of California Riverside)
    Abstract: This paper presents a dynamic competitive equilibrium model with heterogeneous time pref- erences that can account for the observed patterns of wealth and income inequality in the United States. This model generalizes the standard neoclassical growth model by including (i) a demand for status by the consumers and (ii) human capital formation. The Örst feature prevents the wealth distribution from collapsing into a degenerate distribution. The second feature generates a strong positive correlation between earnings and wealth across agents. A calibrated version of this model succeeds in replicating the wealth and income distributions of the United States.Length: 38 pages
    Keywords: Inequality, Heterogeneity, Time Preference, Human Capital
    JEL: D31 E21 O15
    Date: 2010–02
  4. By: Tolga Aksoy (Yildiz Technical University, Economics Department, Istanbul, Turkey)
    Abstract: This paper examines the relationship between technology and demand for skilled labor both historically and empirically. First, it is pointed out that the Industrial Revolution substituted skilled labor with unskilled labor since it has a de-skilling characteristic. Second, the skill-bias feature of Information and Communication Technologies Revolution is suggested. Finally, the effect of technological progress on the demand for skilled labor is tested for Turkish Private Manufacturing Industries. According to the static panel data estimation results, there is a positive but weak relationship between technological progress and demand for skilled labor.
    Keywords: Skill bias, Technological change, Manufacturing
    JEL: O33 J23 J24
    Date: 2009–04
  5. By: Antoci Angelo; Sabatini Fabio; Sodini Mauro
    Abstract: We develop a dynamic model to analyze the sources and the evolution of social participation and social capital in a growing economy characterized by exogenous technical progress. Starting from the assumption that the well-being of agents basically depends on material and relational goods, we show that the best-case scenarios hold when technology and social capital both support just one of the two productions at the expenses of the other. However, trajectories are possible where technology and social interaction balance one another in fostering the growth of both the social and the private sector of the economy. Along such tracks, technology may play a crucial role in supporting a “socially sustainable” economic growth.
    Keywords: Technology, economic growth, relational goods, social participation, social capital
    JEL: O33 J22 O41 Z13
    Date: 2010–02
  6. By: Heinrich R Bohlman
    Date: 2010
  7. By: Eklund, Johan E. (The Ratio Institute); Palmberg, Johanna (Jönköping International Business School (JIBS)); Wiberg, Daniel (Jönköping International Business School (JIBS))
    Abstract: This paper investigates how family ownership, control, and management affect firms’ investment performance. We use the identity of Chief Executive Officer (CEO) and Chairman of the Board (COB) to establish under what management the firm is: founder, descendant, or external management. The results show that founder management has no effect on investment performance in family firms, whereas descendant management has a negative impact on returns on investment. Having an externally hired manager significantly improves investment performance. The results also indicate that the separation of voting right from cash flow right has a negative impact on investment performance in both family and non-family firms, but the negative effect is larger in family firms.
    Keywords: Ownership; Control; Management; Family Firms; Returns on Investments
    JEL: C23 G30 K22 L25
    Date: 2010–03–02

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