The Return to Firm Investment in Human Capital
In this paper the authors estimate the rate of return to firm investments in human capital in the form of formal job training. They use a panel of large firms with unusually detailed information on the duration of training, the direct costs of training, and several firm characteristics such as their...
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| Format: | Policy Research Working Paper |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2006/02/6600547/return-firm-investment-human-capital http://hdl.handle.net/10986/8742 |
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okr-10986-87422021-04-23T14:02:40Z The Return to Firm Investment in Human Capital Almeida, Rita Carneiro, Pedro BOOK VALUE BUSINESS SCHOOL COLLEGE DEGREES COST FUNCTIONS COST OF TRAINING DISCOUNTED VALUE ECONOMETRICS ECONOMIC RESEARCH ECONOMIC SURVEYS ECONOMICS OF EDUCATION EDUCATED WORKERS EDUCATIONAL ATTAINMENT EDUCATIONAL QUALITY EMPLOYMENT ENDOGENOUS VARIABLES EXTERNALITY FORMAL TRAINING FORMAL TRAINING PROGRAMS HUMAN CAPITAL HUMAN RESOURCES IMPERFECT COMPETITION INFORMATION TECHNOLOGY INVENTORY JOB TRAINING KNOWLEDGE ECONOMY LABOR MARKETS LEARNING LIFELONG LEARNING LITERATURE MARGINAL BENEFITS MARGINAL COST MARGINAL COSTS MARGINAL PRODUCT MARGINAL PRODUCTIVITY OCCUPATIONS PAPERS POLITICAL ECONOMY PRIMARY EDUCATION PRIVATE SECTOR TRAINING PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PUBLIC TRAINING SCHOOLING SKILLED OCCUPATIONS TEACHERS TOTAL COSTS TRAINING COSTS TRAINING INSTITUTIONS TRAINING PROGRAMS UNIVERSITY COLLEGE VALUE ADDED WAGES WORKING HOURS In this paper the authors estimate the rate of return to firm investments in human capital in the form of formal job training. They use a panel of large firms with unusually detailed information on the duration of training, the direct costs of training, and several firm characteristics such as their output, workforce characteristics, and capital stock. Their estimates of the return to training vary substantially across firms. On average it is -7 percent for firms not providing training and 24 percent for those providing training. Formal job training is a good investment for many firms and the economy, possibly yielding higher returns than either investments in physical capital or investments in schooling. In spite of this, observed amounts of formal training are small. 2012-06-21T22:32:59Z 2012-06-21T22:32:59Z 2006-02 http://documents.worldbank.org/curated/en/2006/02/6600547/return-firm-investment-human-capital http://hdl.handle.net/10986/8742 English Policy Research Working Paper; No. 3851 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
BOOK VALUE BUSINESS SCHOOL COLLEGE DEGREES COST FUNCTIONS COST OF TRAINING DISCOUNTED VALUE ECONOMETRICS ECONOMIC RESEARCH ECONOMIC SURVEYS ECONOMICS OF EDUCATION EDUCATED WORKERS EDUCATIONAL ATTAINMENT EDUCATIONAL QUALITY EMPLOYMENT ENDOGENOUS VARIABLES EXTERNALITY FORMAL TRAINING FORMAL TRAINING PROGRAMS HUMAN CAPITAL HUMAN RESOURCES IMPERFECT COMPETITION INFORMATION TECHNOLOGY INVENTORY JOB TRAINING KNOWLEDGE ECONOMY LABOR MARKETS LEARNING LIFELONG LEARNING LITERATURE MARGINAL BENEFITS MARGINAL COST MARGINAL COSTS MARGINAL PRODUCT MARGINAL PRODUCTIVITY OCCUPATIONS PAPERS POLITICAL ECONOMY PRIMARY EDUCATION PRIVATE SECTOR TRAINING PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PUBLIC TRAINING SCHOOLING SKILLED OCCUPATIONS TEACHERS TOTAL COSTS TRAINING COSTS TRAINING INSTITUTIONS TRAINING PROGRAMS UNIVERSITY COLLEGE VALUE ADDED WAGES WORKING HOURS |
| spellingShingle |
BOOK VALUE BUSINESS SCHOOL COLLEGE DEGREES COST FUNCTIONS COST OF TRAINING DISCOUNTED VALUE ECONOMETRICS ECONOMIC RESEARCH ECONOMIC SURVEYS ECONOMICS OF EDUCATION EDUCATED WORKERS EDUCATIONAL ATTAINMENT EDUCATIONAL QUALITY EMPLOYMENT ENDOGENOUS VARIABLES EXTERNALITY FORMAL TRAINING FORMAL TRAINING PROGRAMS HUMAN CAPITAL HUMAN RESOURCES IMPERFECT COMPETITION INFORMATION TECHNOLOGY INVENTORY JOB TRAINING KNOWLEDGE ECONOMY LABOR MARKETS LEARNING LIFELONG LEARNING LITERATURE MARGINAL BENEFITS MARGINAL COST MARGINAL COSTS MARGINAL PRODUCT MARGINAL PRODUCTIVITY OCCUPATIONS PAPERS POLITICAL ECONOMY PRIMARY EDUCATION PRIVATE SECTOR TRAINING PRODUCTION FUNCTION PRODUCTION FUNCTIONS PRODUCTIVITY PUBLIC TRAINING SCHOOLING SKILLED OCCUPATIONS TEACHERS TOTAL COSTS TRAINING COSTS TRAINING INSTITUTIONS TRAINING PROGRAMS UNIVERSITY COLLEGE VALUE ADDED WAGES WORKING HOURS Almeida, Rita Carneiro, Pedro The Return to Firm Investment in Human Capital |
| relation |
Policy Research Working Paper; No. 3851 |
| description |
In this paper the authors estimate the rate of return to firm investments in human capital in the form of formal job training. They use a panel of large firms with unusually detailed information on the duration of training, the direct costs of training, and several firm characteristics such as their output, workforce characteristics, and capital stock. Their estimates of the return to training vary substantially across firms. On average it is -7 percent for firms not providing training and 24 percent for those providing training. Formal job training is a good investment for many firms and the economy, possibly yielding higher returns than either investments in physical capital or investments in schooling. In spite of this, observed amounts of formal training are small. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Almeida, Rita Carneiro, Pedro |
| author_facet |
Almeida, Rita Carneiro, Pedro |
| author_sort |
Almeida, Rita |
| title |
The Return to Firm Investment in Human Capital |
| title_short |
The Return to Firm Investment in Human Capital |
| title_full |
The Return to Firm Investment in Human Capital |
| title_fullStr |
The Return to Firm Investment in Human Capital |
| title_full_unstemmed |
The Return to Firm Investment in Human Capital |
| title_sort |
return to firm investment in human capital |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2006/02/6600547/return-firm-investment-human-capital http://hdl.handle.net/10986/8742 |
| _version_ |
1764405929203204096 |