The determinants of expected returns on higher education in Russia: A human capital theory approach

2020 ◽  
Author(s):  
Ilya Prakhov
Keyword(s):  
Higher Education ◽  
Human Capital ◽  
Human Capital Theory ◽  
Expected Returns ◽  
Theory Approach ◽  
Capital Theory

Human Capital Theory and Internal Migration: Do Average Outcomes Distort Our View of Migrant Motives?

2017 ◽  
Vol 14 (2) ◽  
pp. 237-250 ◽  
Author(s):  
Martin Korpi ◽  
William A.V. Clark
Keyword(s):  
Higher Education ◽  
Human Capital ◽  
Logistic Regression ◽  
Internal Migration ◽  
Metropolitan Areas ◽  
Multinomial Logistic Regression ◽  
Human Capital Theory ◽  
Capital Theory

By modelling the distribution of percentage income gains for movers in Sweden, using multinomial logistic regression, this paper shows that those receiving large pecuniary returns from migration are primarily those moving to the larger metropolitan areas and those with higher education, and that there is much more variability in income gains than what is often assumed in models of average gains to migration. This suggests that human capital models of internal migration often overemphasize the job and income motive for moving, and fail to explore where and when human capital motivated migration occurs.

scholarly journals Does Human Capital Theory Account For Individual Higher Education Choice?

2010 ◽  
Vol 9 (6) ◽  
Author(s):  
Alex Van der Merwe
Keyword(s):  
Higher Education ◽  
Human Capital ◽  
Higher Education Policy ◽  
Analytical Framework ◽  
Human Capital Theory ◽  
Neoclassical Economic ◽  
Individual Choice ◽  
Capital Theory ◽  
Local Evidence ◽  
Students Attitudes

South African higher education policy evidently assumes a human capital interpretation of the value of higher education. However, not much local evidence has been provided to support the human capital view that individuals enroll in higher education primarily on the basis of future earnings they expect to flow from such investments. This paper suggests that one reason for this circumstance is that neoclassical economic epistemology, human capital theory’s philosophical paradigm, cannot deal comfortably in the currency of expectations. The paper argues that individual choice can be understood only on the variable ground of human expectations, perceptions and beliefs. Such terrain is, however, not ideally suited to neoclassical economic analysis, so traditional human capital theory relies on improbable assumptions about human behaviour to model educational choice. The discussion proposes that it is not necessary to employ a neoclassical analytical framework to demonstrate that individuals’ enrolment decisions may be sensitive to their anticipated returns to higher education investments. This case study, within a qualitative research design and using principal components analysis of a purposive sample of Durban University of Technology first year students’ attitudes and perceptions relating to higher education, sought to establish whether their expected returns to higher education investments are significantly associated with their enrolment choices. Using binomial logistic regression analysis, respondents’ anticipated private rates of return were shown to be a significant consideration in respect of their higher education choices. This finding, the product of qualitative analysis, affirms the human capital theory proposition that individuals regard higher education as an investment, that is, as a risk versus return prospect.

scholarly journals Screening and Human Capital Theory: An Empirical Test

2005 ◽  
Vol 41 (4) ◽  
pp. 817-826 ◽  
Author(s):  
Thomas A. Rohling
Keyword(s):  
Higher Education ◽  
Human Capital ◽  
Survey Data ◽  
Empirical Test ◽  
Human Capital Theory ◽  
Capital Theory ◽  
Canadian Survey

This paper uses the Wiles test in an attempt to distinguish between the Human Capital and Screening theories on the role of higher education. Regressions on Canadian survey data reveal support for Human Capital theory at the expense of Screening theory.

scholarly journals Do students take the predictions of human capital theory into account? An analysis of motives behind further studies in higher education

2020 ◽  
Vol 10 (1) ◽  
pp. 74-84
Author(s):  
Hajnalka Fényes ◽  
Márta Mohácsi
Keyword(s):  
Higher Education ◽  
Human Capital ◽  
Research Question ◽  
Social Background ◽  
Wage Premium ◽  
Human Capital Theory ◽  
Minor Importance ◽  
Capital Theory ◽  
Social And Cultural Capital ◽  
The Relationship

AbstractIn this paper, we seek to answer the research question as to whether students take into account the predictions of human capital theory (namely the higher wages associated with further studies) in their decision to participate in higher education. Our alternative research question is whether students can be described by Bourdieu's theory on capital conversion, that is, whether they aim to accumulate cultural and social capital during their studies, which can also be profitable for them in the future. Our research method is quantitative: we use cluster analysis to examine the motives behind further studies and employ cross tabulation and variance analysis to reveal the relationship between clusters and social background variables. We find that the wage premium associated with further studies is not the most important motive among students; it holds only minor importance even for those from a disadvantaged social background. The results suggest that students in secondary schools, especially talented but underprivileged ones, should be motivated to enter higher education by informing them about the potential wage premium they can attain if they study further. Importantly, we also find that underprivileged students may be unaware of the fact that higher education is an efficient mechanism to accumulate social and cultural capital, which then can be converted into economic capital.

scholarly journals Does Human Capital Theory Explain The Value Of Higher Education? A South African Case Study

2010 ◽  
Vol 3 (1) ◽  
pp. 107-118
Author(s):  
Alex Van der Merwe
Keyword(s):  
Higher Education ◽  
Human Capital ◽  
Economic Value ◽  
Empirical Support ◽  
Human Capital Theory ◽  
Productive Capacity ◽  
Capital Theory ◽  
University Of Technology ◽  
Private Demand

A perennial debate in the economics of education is whether human capital or screening/signalling theories best explain the value of schooling and hence the private demand for, in particular, higher education. Human capital theory proposes that formal training such as that offered by higher education institutions improves the productive capacity of individuals. Screening theory, on the other hand, posits that the value of higher education credentials flows primarily from their value as signals to potential employers of the abilities of the holders of such qualifications. Following the application of Wiles’ (1974) test and regression analysis this case study finds that it is probable that both human capital and screening theories account for the economic value of higher education in the perceptions and experiences of a local cohort of recent Durban University of Technology graduates. This finding, in spite of its empirical support, relies on a certain amount of intuition necessitated by technical and analytical constraints that are discussed in the paper.

scholarly journals Higher Education and Skills Development in Africa: An Analytical Paper on the Role of Higher Learning Institutions on Sustainable Development

2021 ◽  
Vol 4 (2) ◽  
pp. 55-70
Author(s):  
Peter M. F. Mbithi ◽  
Judith S. Mbau ◽  
Nzioka J. Muthama ◽  
Hellen Inyega ◽  
Jeremiah Kalai
Keyword(s):  
Higher Education ◽  
Sustainable Development ◽  
Human Capital ◽  
Labour Force ◽  
Human Capital Theory ◽  
Capital Theory ◽  
Demand And Supply ◽  
Academic Mobility ◽  
Industry Partnerships ◽  
National Governments

Many Higher Education Institutions (HEIs) in Africa face challenges that require the intervention of national governments, development partners and other stakeholders. HEIs also require new investment paradigms to maximize students’ acquisition of work-ready skills, knowledge and attitudes to enable students to contribute effectively to the workforce. The objective of this study was to identify reforms and investments needed to strengthen Higher Education (HE) in Africa and to inform the design and implementation of future investments and policy for sustainable development. A systematic review approach, involving a synthesis of literature on this theme in Africa in recent years, by African governments, education networks, academia and international bodies, was employed. The study used data from UNESCO and World Bank databases which were blended with the synthesis of the literature. The obtained literature was analysed and synthesized on the basis of its relevance and value to the HEIs study discourse. Textual and thematic analysis tookcentre stage with a view to establishing current reforms in HEIs and the concomitant investments that national governments and other key stakeholders need to make to have robust HEIs. The study used the Human Capital Theory that postulates that the most efficient path to the national development of any society lies in the improvement of its population, which is considered as the human capital. Despite criticisms of the human capital theory at the individual level on the extent to which education is directly related to improvements in occupation or income, human capital theorists generally assume that after all the known inputs into economic growth have been explained, much of the unexplained residual variance represents the contribution of the improvement of human capital, of which education is seen as most important (Merwe, 2010). The results of the study show that HEIs have done very little to promote Intra-Africa Academic Mobility and nurture HEI-industry partnerships to address demand and supply aspects of the labour force. The massification of higher education, resulting in a democratization of education, and the advent of the knowledge economy and globalization, among other factors, are being experienced without commensurate planning and with no corresponding accompanying increase in resources to enable the HEIs cope with the increased student population.  HEIs in Africa are sub-optimally capacitated to combat Africa’s pressing challenges such as unemployment, climate change and COVID-19 pandemic. The study points out that HEIs need to evolve in tandem with continental and global market needs to achieve Sustainable Development Goal (SDG) number 4 on quality education. Further, it recommends that HEIs should encourage Intra-Africa Academic Mobility and foster HEI-industry partnerships to address demand-and-supply aspects of the labour force. In this respect, HEIs in Africa should be developing curricula aimed at building capacity of leaders and professionals to respond to the need to decarbonize and dematerialize development in Africa and leverage on the Fourth Industrial Revolution. Consequently, HEIs must prepare students to be entrepreneurial and resilient; able to continue to learn and reinvent themselves and their careers throughout their lives. Indeed, HEIs should view themselves as creative hubs where partners come together and harness each other’s synergy to innovate and solve societal problems.

Human Capital and Two Factor Theories on Job Satisfaction

2021 ◽  
Vol 12 (1) ◽  
pp. 51-51
Author(s):  
Kanokwan Somrit ◽  
Dr. Suppanunta Romprasert
Keyword(s):  
Higher Education ◽  
Job Satisfaction ◽  
Human Capital ◽  
Business Strategy ◽  
Skills Training ◽  
Human Capital Theory ◽  
Corporate Structure ◽  
Capital Theory ◽  
Top Managers ◽  
Backward Analysis

Human capital is part of driving business. Knowledge and skill are needed in organization to achieve goals. Research's aim is to study human capital theory combine with two-factor theories on job satisfaction. Because in 2020, there are many employees had resigned from company. The simplified methodology is to analyses on human capital theory as in quantitative for corporate training structure; budget, manpower and training program. Moreover, two-factor theories are qualitative applied for corporate structure; organization policies, salary structure, and achievement. This is survey research using questionnaires with a sample of 109 cases calculating from Taro Yamane's formula. Data analyses are multicollinearity, heteroskedasticity, and autocorrelation. Findings express that the support in higher education and soft skills training are affecting on job satisfaction. Furthermore, in term of two factors show that all key elements are acted as the "Career Life Factors Chain". Business strategy implication expresses as knowledge management via business training rewards. It will be set under terms and conditions on supporting in higher education to employee who works for five years. Besides, upskill and reskill training will provide to employee who works for three years. Meanwhile, two-factor theories business strategy implication as job evaluation and promotion. Criteria for considering are related to position, age, year of service, and salary. Therefore, top managers can apply as its backward analysis with restructuring of human capital management. Keywords: Human Capital, Job Satisfaction, Upskill – Reskill Management

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