Firm Specific Human Capital
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Firm Specific Human Capital
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Author : University of British Columbia. Department of Economics
language : en
Publisher:
Release Date : 1974
Firm Specific Human Capital written by University of British Columbia. Department of Economics and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Human capital categories.
Firm Specific Human Capital
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Author : Edward P. Lazear
language : en
Publisher:
Release Date : 2003
Firm Specific Human Capital written by Edward P. Lazear and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Bonuses (Employee fringe benefits) categories.
One problem with the theory of firm-specific human capital is that it is difficult to generate convincing examples of investment that could generate the sometimes observed large and continuing effects on earnings. Another approach, called the skill-weights' view, allows all skills to be general in that there are other firms that use each of the skills. But firms use them in different combinations and with different weights attached to them. The skill-weights view not only has aesthetic appeal, but is consistent with the frequently observed large tenure effects. All of the implications of the traditional view are produced by this approach, and there are a number of other implications that distinguish the new view from the traditional one. The empirical evidence already contains some support for the skill-weights view.
Firm Specific Human Capital A Shared Investment Or Optimal Entrapment
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Author : David Donaldson
language : en
Publisher:
Release Date : 1974
Firm Specific Human Capital A Shared Investment Or Optimal Entrapment written by David Donaldson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with categories.
Firm Specific Human Capital As A Shared Investment
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Author : Edwin Leuven
language : en
Publisher:
Release Date : 1999
Firm Specific Human Capital As A Shared Investment written by Edwin Leuven and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Perceptions Of Firm Specific Human Capital
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Author : Joseph Raffiee
language : en
Publisher:
Release Date : 2014
Perceptions Of Firm Specific Human Capital written by Joseph Raffiee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Drawing on human capital theory, strategy scholars have emphasized firm-specific human capital as a source of sustained competitive advantage. This study challenges some critical implicit assumptions of extant theory by exploring how workers actually think about firm-specificity. We test several theoretical predictions using longitudinal data from Korea and the United States. Contrary to extant theory, we find that organizational tenure and commitment are negatively related to workers' reported firm-specificity of their skills. Consistent with this, we also find that employees in managerial occupations report that their skills are relatively less firm-specific. Employer provided on-the-job training was not significantly linked with employee reports of firm-specificity. This may call into question the assumed relationship between firm-specific skills and sustained competitive advantage. We offer explanations for these counterintuitive findings and discuss the implications for future theoretical and empirical work on firm-specificity.
Micro Foundations Of Firm Specific Human Capital
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Author : Joseph Raffiee
language : en
Publisher:
Release Date : 2015
Micro Foundations Of Firm Specific Human Capital written by Joseph Raffiee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Drawing on human capital theory, strategy scholars have emphasized firm-specific human capital as a source of sustained competitive advantage. In this study, we begin to unpack the micro-foundations of firm-specific human capital by theoretically and empirically exploring when employees perceive their skills to be firm-specific. We first develop theoretical arguments and hypotheses based on the extant strategy literature, which implicitly assumes information efficiency and unbiased perceptions of firm-specificity. We then relax these assumptions and develop alternative hypotheses rooted in the cognitive psychology literature, which highlights biases in human judgment. We test our hypotheses using two data sources from Korea and the United States. Surprisingly, our results support the hypotheses based on cognitive bias - a stark contrast to the expectations embedded within the strategy literature. Specifically, we find organizational commitment and, to some extent, tenure are negatively related to employee perceptions of the firm-specificity. We also find that employer provided on-the-job training was unrelated to perceived firm-specificity. These findings suggest that firm-specific human capital, as perceived by employees, may drive behavior in ways not anticipated by existing theory - for example, with respect to investments in skills or turnover decisions. This, in turn, may challenge the assumed relationship between firm-specific human capital and sustained competitive advantage. More broadly, our findings may suggest a need to reconsider other theories, such as transaction cost economics, that draw heavily on the notion of firm-specificity and implicitly assume widely shared and unbiased perceptions.
The Effects Of Firm Specific Human Capital On Management Equity Investment And Turnover
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Author : Robert Comment
language : en
Publisher:
Release Date : 1991
The Effects Of Firm Specific Human Capital On Management Equity Investment And Turnover written by Robert Comment and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.
Optimal Promotion Rules And Investment In Firm Specific Human Capital
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Author : Jeff Borland
language : en
Publisher:
Release Date : 1990
Optimal Promotion Rules And Investment In Firm Specific Human Capital written by Jeff Borland and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Human capital categories.
The Importance Of Firm Specific Human Capital
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Author : Nancy E. Cole
language : en
Publisher:
Release Date : 1993
The Importance Of Firm Specific Human Capital written by Nancy E. Cole and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Employees categories.
Firm Specific Human Capital And Theories Of The Firm
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Author : Margaret M. Blair
language : en
Publisher:
Release Date : 2003
Firm Specific Human Capital And Theories Of The Firm written by Margaret M. Blair and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
This paper focuses on contracting problems in firms caused by asset specificity and investment incentives, particularly the problems that arise when employees make investments in quot;firm specific human capital.quot; In such cases, employee investments will also be seriously at risk in the enterprise.Under the nexus of contracts theory of corporations, corporation law is viewed as providing a standardized solution to a central contracting problem, namely the agency problem between shareholders (who are assumed to be the quot;ownersquot; of the firm) and their hired managers. All other relationships are seen as governed by ordinary, negotiated contracts. But where employees make important specific investments, it is no longer appropriate to assume that shareholders are, and should be, the hiring party, or the quot;owners.quot; A broader view of what a firm is, and what corporation law accomplishes, is needed, one that permits exploration of why one set of participants in the firm might end up with certain control rights rather than some other set. For a firm in which such firm-specific employee investments are important, one would expect, for example, to find institutional arrangements that are central to the nature of the firm and that encourage continuity in the relationships between employees and the firm, as well as give employees the means to protect their stakes. Such institutions might include unions, severance pay, and social norms of lifetime employment, together with internal job ladders, career paths, seniority rules, and direct and formal control rights. The paper then reviews several new theories that view the firm alternately as a system of incentives, or as a nexus of specific investments. In other words, they conceptualize the firm as a mechanism for governing the relationships among all the participants (those who contribute labor as well as those who contribute capital), not just the relationship between shareholders and managers.