scholarly journals Specialized Human Capital, Unemployment Risk, and the Value Premium

2014 ◽  
Author(s):  
Stephan Jank
Keyword(s):  
Human Capital ◽  
Value Premium ◽  
Specialized Human Capital ◽  
Unemployment Risk

Immigrant Entrepreneurship: The Effect of Early Career Immigration Constraints on New Venture Formation

2021 ◽  
Author(s):  
Rajshree Agarwal ◽  
Martin Ganco ◽  
Joseph Raffiee
Keyword(s):  
United States ◽  
Human Capital ◽  
The United States ◽  
Early Career ◽  
Theory And Practice ◽  
New Venture ◽  
Opportunity Costs ◽  
Paid Employment ◽  
Specialized Human Capital ◽  
New Venture Formation

We examine how institutional factors may affect microlevel career decisions by individuals to create new firms by impacting their ability to exercise entrepreneurial preferences, their accumulation of human capital, and the opportunity costs associated with new venture formation. We focus on an important institutional factor—immigration-related work constraints—given that technologically intensive firms in the United States not only draw upon immigrants as knowledge workers but also because such firms are disproportionately founded by immigrants. We examine the implications of these constraints using the National Science Foundation’s Scientists and Engineers Statistical Data System, which tracks the careers of science and engineering graduates from U.S. universities. Relative to natives, we theorize and show that immigration-related work constraints in the United States suppress entrepreneurship as an early career choice of immigrants by restricting labor market options to paid employment jobs in organizational contexts tightly matched with the immigrant’s educational training (job-education match). Work experience in paid employment job-education match is associated with the accumulation of specialized human capital and increased opportunity costs associated with new venture formation. Consistent with immigration-related work constraints inhibiting individuals with entrepreneurial preferences from engaging in entrepreneurship, we show that when the immigration-related work constraints are released, immigrants in job-education match are more likely than comparable natives to found incorporated employer firms. Incorporated employer firms can both leverage specialized human capital and provide the expected returns needed to justify the increased opportunity costs associated with entrepreneurial entry. We discuss our study’s contributions to theory and practice.

Optimal Life Cycle Unemployment Insurance

2015 ◽  
Vol 105 (2) ◽  
pp. 816-859 ◽  
Author(s):  
Claudio Michelacci ◽  
Hernán Ruffo
Keyword(s):  
Human Capital ◽  
Life Cycle ◽  
Moral Hazard ◽  
Unemployment Insurance ◽  
Older Workers ◽  
Life Cycle Model ◽  
Cycle Model ◽  
Welfare Gains ◽  
High Return ◽  
Unemployment Risk

We argue that US welfare would rise if unemployment insurance were increased for younger and decreased for older workers. This is because the young tend to lack the means to smooth consumption during unemployment and want jobs to accumulate high-return human capital. So unemployment insurance is most valuable to them, while moral hazard is mild. By calibrating a life cycle model with unemployment risk and endogenous search effort, we find that allowing unemployment replacement rates to decline with age yields sizeable welfare gains to US workers. (JEL D91, E24, J13, J64, J65)

scholarly journals Proposal of Postgraduate in Management to Collaborate with the Sustainable Regional Development in the State of Mexico

2016 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Israel Patiño Galván
Keyword(s):  
Human Capital ◽  
Regional Development ◽  
Educational Program ◽  
Information Gathering ◽  
The State ◽  
Education Sector ◽  
Administrative Process ◽  
Specialized Human Capital ◽  
Government Education ◽  
Sustainable Regional Development

Regional Development of the countries depends of the relation and interaction between enterprises, government, education sector and society, and the strategies to take advantage of the available resources. In that sense, the education sector plays a very important role as a supplier of competitive human capital. This study is the result of a special research made for Technologic of Higher Studies of Ecatepec which is interested in launching a new postgraduate program that can respond to the new regional challenges. Nowadays it doesn’t exist an educational program in the State of Mexico that collaborates in generation of specialized human capital to manage the productive and administrative process of the enterprises. This research is supported with the induction deduction, analysis-synthesis methodologies, moreover, the information gathering of different database scholars was reviewed, and it was also compare institutions within similar context and programs to get and analyzing previous research about tendencies of modern management.

Elites and Useful Knowledge in Britain

2020 ◽  
pp. 94-115
Author(s):  
B. Zorina Khan
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
General Population ◽  
Informal Institutions ◽  
Scientific Training ◽  
Useful Knowledge ◽  
Specialized Human Capital ◽  
Technological Advances ◽  
Inventive Activity ◽  
Special Knowledge

A longstanding claim attributes economic growth and technological change to social and scientific elites, who possess special knowledge that is unavailable to the general population. This chapter considers the significance of scientific training, costly human capital, and different types of knowledge during British industrialization by assessing the backgrounds, education, and inventive activity of major contributors to technological advances. The results show that scientists, engineers, or technicians were not well represented among the cadre of important British inventors, and many innovators remained unspecialized until very late in the nineteenth century. Informal institutions like apprenticeship and learning on the job efficiently helped creative individuals to increase their skills and productivity. Costly investments in specialized human capital and esoteric knowledge were less important than incentives for creativity, flexibility, and the ability to make incremental adjustments to produce innovations that are appropriate for prevailing conditions.

Redefining the boundaries of the firm: the role of 4PLs

2015 ◽  
Vol 26 (1) ◽  
pp. 30-41 ◽  
Author(s):  
Cécile Cezanne ◽  
Laurence Saglietto
Keyword(s):  
Human Capital ◽  
Future Research ◽  
Organizational Boundaries ◽  
Content Type ◽  
Knowledge Based ◽  
Dynamic Relationship ◽  
Specialized Human Capital ◽  
Fourth Party Logistics ◽  
The Relationship

Purpose – The purpose of this paper is to analyse the specific valuable partnership between human capital-intensive firms (HCIFs) and fourth-party logistics (4PLs), and in particular, to explore the way boundaries of HCIFs are changing as a consequence of the growing importance of 4PLs. Design/methodology/approach – The paper represents the viewpoints of the authors as far as the role of 4PLs in the changing boundaries of HCIFs is concerned. It is based on a literature review, especially on the analysis of the recent works on organizational boundaries developed by Garicano, Santos and their co-authors. It establishes the prerequisites on the actors of the phenomenon and provides a knowledge-based conceptual framework to understand their dynamic relationship. Findings – The authors show that the relationship between a HCIF and a 4PL represents a balance of power between two partners based on the co-specialized human capital provided by each of them. From four main propositions, the authors explain that the HCIF extends its boundaries and create more value through the in-house and outside critical human capital it uses. Originality/value – The specific partnership between HCIFs and 4PLs has been rarely mentioned in the economics and management literature. This interdisciplinary viewpoint essentially provides both academics and practitioners with a conceptual map of 4PLs and HCIFs research and also points out opportunities for future research.

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