Job Mobility and Earnings: An Internal Labour Market Analysis

1988 ◽  
Vol 30 (1) ◽  
pp. 100-117 ◽  
Author(s):  
John Creedy ◽  
Keith Whitfield
Keyword(s):  
Human Capital ◽  
Labour Market ◽  
Job Mobility ◽  
Human Capital Theory ◽  
Market Analysis ◽  
Future Research ◽  
Market Theory ◽  
Capital Theory ◽  
Earnings Distribution ◽  
Market Approach

The analysis of job mobility and earnings has been dominated by human capital theory. This approach has been subject to considerable criticism in recent years, particularly about the manner in which it conceptualizes the processes that take place between the start and end of a job. An alternative is the internal labour market approach, which focuses on the very processes which are so problematic for human capital theory. Information from three specially designed surveys of professional scientists in Australia and Britain suggests that the processes that are central to internal labour market theory are crucial to generating the distribution of earnings. While the evidence presented is not necessarily incompatible with human capital theory, it does suggest that future research on the earnings distribution could usefully involve the development of the internal labour market approach.

scholarly journals Distinguished Fellow: Mincering Labor Economics

1992 ◽  
Vol 6 (2) ◽  
pp. 157-170 ◽  
Author(s):  
Sherwin Rosen
Keyword(s):  
Human Capital ◽  
Labor Economics ◽  
Research Agenda ◽  
Job Mobility ◽  
Human Capital Theory ◽  
Married Women ◽  
Empirical Content ◽  
Capital Theory ◽  
The Past ◽  
Participation Decisions

Jacob Mincer has helped set the research agenda and professional style in labor economics for over 30 years. His research helped uncover the empirical content of human capital theory, where he used those ideas to study the determinants of earnings and the sources and nature of earnings inequality. He was also a pioneer in studying labor force participation decisions of married women. For the past decade, Jacob has set his characteristic stamp on the empirical study of job mobility. The following brief survey is meant to convey some of the flavor of Jacob Mincer's work and why it has been so influential in labor economics.

scholarly journals ‘Rusty, invisible and threatening’: ageing, capital and employability

2016 ◽  
Vol 31 (3) ◽  
pp. 465-482 ◽  
Author(s):  
Dina Bowman ◽  
Michael McGann ◽  
Helen Kimberley ◽  
Simon Biggs
Keyword(s):  
Human Capital ◽  
Labour Market ◽  
Older Workers ◽  
Human Capital Theory ◽  
Job Skills ◽  
Narrative Interviews ◽  
Capital Theory ◽  
Gender And Age

Levels of mature-age unemployment and under-employment are increasing in Australia, with older jobseekers spending longer unemployed than younger jobseekers. This article focuses on two key explanations of the difficulties confronting older jobseekers: human capital theory, which focuses on the obsolescence of older workers’ job skills, and ageism in employment. Drawing upon narrative interviews with older Australians, it critically engages with both these understandings. Using a Bourdieusian analysis, it shows how ageing intersects with the deployment of different forms of capital that are valued within particular labour market fields to shape older workers’ ‘employability’. By examining how class, gender and age intersect to structure experiences of marginalization, it questions conventional analyses that see older workers as discriminated against simply because they are older.

Manager characteristics and real estate mutual fund returns, risk and fees

2006 ◽  
Vol 32 (12) ◽  
pp. 988-996 ◽  
Author(s):  
James Philpot ◽  
Craig A. Peterson
Keyword(s):  
Human Capital ◽  
Real Estate ◽  
Mutual Fund ◽  
Market Risk ◽  
Human Capital Theory ◽  
Future Research ◽  
Capital Theory ◽  
Content Type ◽  
Management Fees ◽  
Managed Funds

PurposeThe purpose of this paper is to analyze the effects of individual manager characteristics on real estate mutual fund (REMF) performance. Human capital theory predicts that factors like education, experience and professional certifications improve skill sets and thus performance. Conversely, capital markets theory suggests that these things may be irrelevant in the management of mutual funds.Design/methodology/approachA total of 63 REMFs were sampled over the period 2001‐2003 and equations were estimate regressing, alternatively, risk‐adjusted return, market risk and management fees on a series of fund variables and manager characteristics including the manager's tenure, whether the fund manager holds a professional certification, whether the manager has specific real estate experience, and whether the fund is team‐managed.FindingsModest evidence is found that team‐managed funds have lower risk‐adjusted returns than solo‐managed funds. Managers with longer tenure tend to pursue higher market risk levels, and there is no relation between manager characteristics and management fees.Research limitations/implicationsThis study considers only one cross‐sectional time period. Future research might use longitudinal data.Practical implicationsDespite real estate being a specialized field of finance, there is little if any support for the predictions of human capital theory that experience, education and training result in greater performance among managers of REMFs.Originality/valueThis paper extends prior work in mutual fund management characteristics and fund performance to real estate funds.

Suzhi development: indigenous approaches to enhancing the quality of human resources

2014 ◽  
Vol 5 (2) ◽  
pp. 115-128 ◽  
Author(s):  
Connie Zheng
Keyword(s):  
Human Capital ◽  
Historical Context ◽  
Three Dimensional ◽  
Human Capital Theory ◽  
Future Research ◽  
Capital Theory ◽  
Content Type ◽  
Political Sciences ◽  
Key Dimensions

Purpose – This paper aims to examine the Chinese indigenous concept of suzhi (素质) by analyzing its historical evolution and its contemporary implications for human resource management (HRM) research and practice at the national and organizational levels. Design/methodology/approach – An integrated review of literatures in sinology, political science, anthropology and sociology concerned with suzhi-related research, combined with recent incidents associated with suzhi. Findings – Suzhi is an indigenous concept embedded in the centuries-long historical context of China. Suzhi development has been focused on three key dimensions, moral, physical and mental, as a way of building quality employees and citizens. Yet developing and quantifying the moral aspects of suzhi is more challenging than measuring its physical and mental dimensions. Linking suzhi development to human capital theory enriches the understanding of this indigenous concept at both organizational and national levels. Research limitations/implications – By analyzing a three-dimensional suzhi composite, the article offers an example of how suzhi may be linked to human capital theory and identifies directions for future research. Originality/value – By analyzing suzhi at organizational and national levels for HRM purposes, this article broadens the suzhi literature from its place in the political sciences and social anthropology to encompass a theoretical analysis in HRM and development for the benefit of organizations and the society.

Career Development and Human Capital Theory: Preaching the “Education Gospel”

2020 ◽  
Author(s):  
Tristram Hooley
Keyword(s):  
Human Capital ◽  
Career Development ◽  
Education System ◽  
Historical Development ◽  
Human Capital Theory ◽  
Development Education ◽  
Capital Theory ◽  
Development Interventions ◽  
The Relationship ◽  
Alternative Relationships

This chapter analyses the relationship between career development, education, and human capital theory. It argues that education lies at the heart of our understanding of how individuals develop their careers and how purposeful career development interventions can support them in this endeavour. Career development services are most evident and accessible in the education system. This relationship is not accidental but is rooted in both the historical development of the field and in the importance of human capital theory to the ideology of both education and career development. The chapter finishes by critiquing the dependence of policymakers and advocates for the field on human capital theory and by considering alternative relationships that could be built between education and career development.

scholarly journals CEOs’ International Work Experience and Compensation

2021 ◽  
Author(s):  
Stefan Schmid ◽  
Sebastian Baldermann
Keyword(s):  
Human Capital ◽  
Empirical Analysis ◽  
Work Experience ◽  
Resource Dependence ◽  
Human Capital Theory ◽  
Work Experiences ◽  
Capital Theory ◽  
International Work ◽  
Executive Remuneration ◽  
To Receive

AbstractIn this paper, we study the effect a CEO’s international work experience has on his or her compensation. By combining human capital theory with a resource dependence and a resource-based perspective, we argue that international work experience translates into higher pay. We also suggest that international work experience comprises several dimensions that affect CEO compensation: duration, timing and breadth of stays abroad. With data from Europe’s largest stock market firms, we provide evidence that the longer the international work experiences and the more numerous they are, the higher a CEO’s compensation. While, based on our theoretical arguments, we expect to find that later international work experiences pay off for CEOs, our empirical analysis shows that earlier international work experiences are particularly valuable in terms of compensation. In addition, our data support the argument that maturity allows a CEO to take advantage of the skills, knowledge and competencies obtained via international experience—and to receive a higher payoff. With our study, we improve the understanding of how different facets of a CEO’s background shape executive remuneration.

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