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on Human Capital and Human Resource Management |
| By: | Laura Ehrmantraut (University of Bonn, Institute for Applied Microeconomics); Pia Pinger (University of Cologne & Behavior and Inequality Research Institute (briq)); Renske Stans (Erasmus University Rotterdam) |
| Abstract: | This paper explores students' expectations about the returns to completing higher education and provides first evidence on \textit{perceived} signaling and human capital effects. We elicit counterfactual labor market expectations for the hypothetical scenarios of leaving university with or without a degree certificate among a large and diverse sample of students at different stages of higher education. Our findings indicate substantial perceived returns to higher education. Moreover, by exploiting within-individual variation, we document sizeable expected labor market returns from signaling, whereas perceived productivity-enhancing (human capital) returns seem to be less pronounced. Over the expected course of career, we find lasting education premia as well as evidence consistent with employer learning. |
| Keywords: | higher education, returns to education, signaling, educational attainment, licensing, employer learning |
| JEL: | I21 I23 I26 J24 J31 J32 J44 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:ajk:ajkdps:032&r=all |
| By: | Bloom, Nick; Lemos, Renato; Sadun, Raffaella; Van Reenen, John |
| Abstract: | We investigate the link between hospital performance and managerial education by collecting a large database of management practices and skills in hospitals across nine countries. We find that hospitals closer to universities offering both medical education and business education have lower mortality rates from acute myocardial infarction (heart attacks), better management practices, and more MBA-trained managers. This is true compared to the distance to universities that offer only business or medical education (or neither). We argue that supplying bundled medical and business education may be a channel through which universities improve management practices in hospitals and raise clinical performance. |
| JEL: | J50 |
| Date: | 2019–06–26 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:105014&r=all |
| By: | Biasi, Barbara (Yale School of Management); Sarsons, Heather (University of Chicago Booth School of Business) |
| Abstract: | Does flexible pay increase the gender wage gap? To answer this question we analyze the wages of public-school teachers in Wisconsin, where a 2011 reform allowed school districts to set teachers' pay more flexibly and engage in individual negotiations. Using quasi-exogenous variation in the timing of the introduction of flexible pay driven by the expiration of preexisting collective-bargaining agreements, we show that flexible pay increased the gender pay gap among teachers with the same credentials. This gap is larger for younger teachers and absent for teachers working under a female principal or superintendent. Survey evidence suggests that the gap is partly driven by women not engaging in negotiations over pay, especially when the counterpart is a man. This gap is not driven by gender differences in job mobility, ability, or a higher demand for male teachers. We conclude that environmental factors are an important determinant of the gender wage gap in contexts where workers are required to negotiate. |
| Keywords: | gender wage gap, flexible pay, teacher salaries, bargaining |
| JEL: | J31 J71 J45 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13754&r=all |
| By: | Alexandre, Fernando (University of Minho); Cruz, Sara (University of Minho); Portela, Miguel (University of Minho) |
| Abstract: | In this paper, we focus on managerial characteristics of micro and small-sized firms. Using linked employer-employee data on the Portuguese economy for the 2010-2018 period, we estimate the impact of management teams' human capital on the probability of firms becoming financially distressed and on their subsequent recovery. Our estimates show that the relevance of management teams' formal education on the probability of firms becoming financially distressed depends on firms' size and the type of education. We show that management teams' formal education and tenure reduces the probability of micro and small-sized firms becoming financially distressed and increases the probability of their subsequent recovery. The estimates also suggest that those impacts are stronger for micro and small-sized firms. Additionally, our results show that functional experience previously acquired in other firms, namely in foreign-owned and in exporting firms and in the area of finance, may reduce the probability of micro firms becoming financially distressed. On the other hand, previous functional experience in other firms seems to have a strong and highly significant impact on increasing the odds of recovery of financially distressed firms. We conclude that policies that induce an improvement in the managerial human capital of micro and small-sized firms have significant scope to improve their financial condition, reducing the likelihood of firms entering a state of financial distress. |
| Keywords: | financial distress, human capital, firm performance |
| JEL: | G32 J24 L25 |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13738&r=all |