We propose a new framework modelling intangible capital creation as the joint investment of firm resources and skilled human capital. High-intangible firms require less ex-ante cash spending yet must offer more deferred compensation to retain employees, creating unhedgeable risk. A human capital retention motive for financial prudence thus arises, even absent traditional precautionary needs. Insuring unvested claims requires more net cash in good states and equity rather than debt financing. Because intangibles can be easily diverted, firms need more inside equity and unvested employee claims can exacerbate turnover. The model offers an explanation for recent puzzling trends in corporate financing.
{"title":"Creating Intangible Capital","authors":"Robin Döttling, T. Ladika, E. Perotti","doi":"10.2139/ssrn.3479152","DOIUrl":"https://doi.org/10.2139/ssrn.3479152","url":null,"abstract":"We propose a new framework modelling intangible capital creation as the joint investment of firm resources and skilled human capital. High-intangible firms require less ex-ante cash spending yet must offer more deferred compensation to retain employees, creating unhedgeable risk. A human capital retention motive for financial prudence thus arises, even absent traditional precautionary needs. Insuring unvested claims requires more net cash in good states and equity rather than debt financing. Because intangibles can be easily diverted, firms need more inside equity and unvested employee claims can exacerbate turnover. The model offers an explanation for recent puzzling trends in corporate financing.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123311041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We identify the causal effect of teacher qualifications on parents' investments in their children. Exploiting a unique, high-stakes educational setting in which teachers are randomly assigned to classes, we show that parents react to more qualified teachers by increasing their financial investments in their children. The key mechanism is an increase in parents' belief that academic achievement is driven by student effort—for which financial investment is instrumental. However, higher teacher qualifications do not improve student test scores. This is likely due to a negative effect of teacher qualifications on students' belief in the importance of effort for academic achievement. Our findings uncover various family-wide behavioral reactions to teacher qualifications and highlight the intricacies in educational production within households.
{"title":"Parents’ Responses to Teacher Qualifications","authors":"Simon Chang, D. Cobb-Clark, Nicolás Salamanca","doi":"10.2139/ssrn.3632072","DOIUrl":"https://doi.org/10.2139/ssrn.3632072","url":null,"abstract":"We identify the causal effect of teacher qualifications on parents' investments in their children. Exploiting a unique, high-stakes educational setting in which teachers are randomly assigned to classes, we show that parents react to more qualified teachers by increasing their financial investments in their children. The key mechanism is an increase in parents' belief that academic achievement is driven by student effort—for which financial investment is instrumental. However, higher teacher qualifications do not improve student test scores. This is likely due to a negative effect of teacher qualifications on students' belief in the importance of effort for academic achievement. Our findings uncover various family-wide behavioral reactions to teacher qualifications and highlight the intricacies in educational production within households.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126898905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
João Firmino, Luis C. Nunes, Sílvia Almeida, S. Batista
We provide the most comprehensive description of student segregation in the Portuguese public school system to date, a system that exhibits interesting institutional features potentially linked with the student segregation issue (e.g. school catchment areas, course tracking, and almost no central regulations regarding class composition). The analysis uses the entire regular student population enrolled in all public schools of continental Portugal (grades 1 to 12, from 2006/07 to 2016/17). Looking at three segregation dimensions – economic, academic, and immigrant – at both between and within-school levels, and using a novel dissimilarity index recently proposed in the literature aimed at better capturing systematic segregation, we find that segregation, on median, is mild, across time, grades, and regions. The most important exception is the case of within-school academic segregation. During upper-secondary schooling, in particular, when students are divided across classes according to own course-tracking decisions, it doubles. Moreover, within-school academic segregation estimates have the largest interquartile ranges, within a given year, grade, or region, pointing to heterogeneity in the way different schools set up classes internally in terms of students’ academic characteristics. Academic and economic segregation are positively associated, at both between and within school levels. The Portuguese segregation insights are also compared to those from other geographies.
{"title":"Student Segregation Across and Within Schools - The Case of the Portuguese Public School System","authors":"João Firmino, Luis C. Nunes, Sílvia Almeida, S. Batista","doi":"10.2139/ssrn.3555011","DOIUrl":"https://doi.org/10.2139/ssrn.3555011","url":null,"abstract":"We provide the most comprehensive description of student segregation in the Portuguese public school system to date, a system that exhibits interesting institutional features potentially linked with the student segregation issue (e.g. school catchment areas, course tracking, and almost no central regulations regarding class composition). The analysis uses the entire regular student population enrolled in all public schools of continental Portugal (grades 1 to 12, from 2006/07 to 2016/17). Looking at three segregation dimensions – economic, academic, and immigrant – at both between and within-school levels, and using a novel dissimilarity index recently proposed in the literature aimed at better capturing systematic segregation, we find that segregation, on median, is mild, across time, grades, and regions. The most important exception is the case of within-school academic segregation. During upper-secondary schooling, in particular, when students are divided across classes according to own course-tracking decisions, it doubles. Moreover, within-school academic segregation estimates have the largest interquartile ranges, within a given year, grade, or region, pointing to heterogeneity in the way different schools set up classes internally in terms of students’ academic characteristics. Academic and economic segregation are positively associated, at both between and within school levels. The Portuguese segregation insights are also compared to those from other geographies.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"25 39","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120836158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-03-15DOI: 10.32674/JCIHE.V11IWINTER.1430
Z. Taylor
As higher education continues to internationalize, the United States higher education system remains a predominantly English-speaking entity. This research-in-progress will examine how United States institutions of higher education engage with English-language learning international alumni to explore how these alumni are asked to give back to their alma mater. I hypothesize that many institutions of higher educaiton may be perpetuing academic capitalism by viewing international alumni as sources of financial support and not as sources of rich linguistic capital that could be leveraged to further diversify the institution and facilitate equitable access to higher education.
{"title":"Translation as Charitable Currency: Internationalization Through International Alumni Giving","authors":"Z. Taylor","doi":"10.32674/JCIHE.V11IWINTER.1430","DOIUrl":"https://doi.org/10.32674/JCIHE.V11IWINTER.1430","url":null,"abstract":"As higher education continues to internationalize, the United States higher education system remains a predominantly English-speaking entity. This research-in-progress will examine how United States institutions of higher education engage with English-language learning international alumni to explore how these alumni are asked to give back to their alma mater. I hypothesize that many institutions of higher educaiton may be perpetuing academic capitalism by viewing international alumni as sources of financial support and not as sources of rich linguistic capital that could be leveraged to further diversify the institution and facilitate equitable access to higher education.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129826141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the long-term effects of a randomized intervention targeting children’s socio-emotional skills. The classroom-based intervention for primary school children has positive impacts that persist for over a decade. Treated children become more likely to complete academic high school and enroll in university. Two mechanisms drive these results. Treated children show fewer ADHD symptoms: they are less impulsive and less disruptive. They also attain higher grades, but they do not score higher on standardized tests. The long-term effects on educational attainment thus appear to be driven by changes in socio-emotional skills rather than cognitive skills.
{"title":"The Causal Impact of Socio-Emotional Skills Training on Educational Success","authors":"G. Sorrenti, U. Zölitz, Denis Ribeaud, M. Eisner","doi":"10.2139/ssrn.3553837","DOIUrl":"https://doi.org/10.2139/ssrn.3553837","url":null,"abstract":"We study the long-term effects of a randomized intervention targeting children’s socio-emotional skills. The classroom-based intervention for primary school children has positive impacts that persist for over a decade. Treated children become more likely to complete academic high school and enroll in university. Two mechanisms drive these results. Treated children show fewer ADHD symptoms: they are less impulsive and less disruptive. They also attain higher grades, but they do not score higher on standardized tests. The long-term effects on educational attainment thus appear to be driven by changes in socio-emotional skills rather than cognitive skills.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115240324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article investigates the link between digital technologies and female labor market outcomes in a country with one of the largest gender disparities. It exploits the massive roll-out of mobile broadband technology in Jordan between 2010 and 2016 to identify the effect of internet adoption on labor force participation. Using panel data at the individual level with rich information on labor market outcomes, internet use and gender-biased social norms, the article finds that internet adoption increases female labor force participation but has no effect on male labor force participation. The increase in online job search explains some -- but not all -- of the total increase in female labor force participation. Only older and skilled women experience an increase in employment in response to having internet access. The internet also reduces the prevalence of gender-biased social norms, early marriage and fertility.
{"title":"Does the Internet Reduce Gender Gaps?: The Case of Jordan","authors":"Mariana Viollaz, H. Winkler","doi":"10.1596/1813-9450-9183","DOIUrl":"https://doi.org/10.1596/1813-9450-9183","url":null,"abstract":"This article investigates the link between digital technologies and female labor market outcomes in a country with one of the largest gender disparities. It exploits the massive roll-out of mobile broadband technology in Jordan between 2010 and 2016 to identify the effect of internet adoption on labor force participation. Using panel data at the individual level with rich information on labor market outcomes, internet use and gender-biased social norms, the article finds that internet adoption increases female labor force participation but has no effect on male labor force participation. The increase in online job search explains some -- but not all -- of the total increase in female labor force participation. Only older and skilled women experience an increase in employment in response to having internet access. The internet also reduces the prevalence of gender-biased social norms, early marriage and fertility.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"198 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133792599","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper introduces peer value-added, a new approach to quantify the total contribution of an individual peer to student performance. Peer value-added captures social spillovers irrespective of whether they are generated by observable or unobservable peer characteristics. Using data with repeated random assignment to university sections, we find that students significantly differ in their peer value-added. Peer value-added is a good out-of-sample predictor of performance spillovers in newly assigned student-peer pairs. Yet, students’ own past performance and other observable characteristics are poor predictors of peer value-added. Peer value-added increases after exposure to better peers, and valuable peers are substitutes for low-quality teachers.
{"title":"The Value of a Peer","authors":"Ingo E. Isphording, U. Zölitz","doi":"10.2139/ssrn.3553833","DOIUrl":"https://doi.org/10.2139/ssrn.3553833","url":null,"abstract":"This paper introduces peer value-added, a new approach to quantify the total contribution of an individual peer to student performance. Peer value-added captures social spillovers irrespective of whether they are generated by observable or unobservable peer characteristics. Using data with repeated random assignment to university sections, we find that students significantly differ in their peer value-added. Peer value-added is a good out-of-sample predictor of performance spillovers in newly assigned student-peer pairs. Yet, students’ own past performance and other observable characteristics are poor predictors of peer value-added. Peer value-added increases after exposure to better peers, and valuable peers are substitutes for low-quality teachers.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115741853","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Firms hire workers to undertake tasks and activities associated with particular occupations, which makes occupations a fundamental unit in economic analyses of the labor market. Using a unique set of data on pay in identically defined occupations in developing and advanced countries, we find that occupational pay differentials narrowed substantially from the 1950s to the 1980s, then widened through the 2000s in most countries, creating a U-shaped pattern of change. The narrowing was due in part to the huge worldwide increase in the supply of educated workers. The subsequent widening was due in part to the weakening of trade unions and a shift in demand to more skilled workers associated with rising trade. The data indicate that supply, demand, and institutional forces are all drivers of occupational differentials, ruling out simple single factor explanations of change. The paper concludes with a call for improving the collection of occupational wage data to understand future changes in the world of work.
{"title":"Occupational Skill Premia Around the World: New Data, Patterns and Drivers","authors":"D. Kunst, Richard B. Freeman, Remco Oostendorp","doi":"10.3386/w26863","DOIUrl":"https://doi.org/10.3386/w26863","url":null,"abstract":"Firms hire workers to undertake tasks and activities associated with particular occupations, which makes occupations a fundamental unit in economic analyses of the labor market. Using a unique set of data on pay in identically defined occupations in developing and advanced countries, we find that occupational pay differentials narrowed substantially from the 1950s to the 1980s, then widened through the 2000s in most countries, creating a U-shaped pattern of change. The narrowing was due in part to the huge worldwide increase in the supply of educated workers. The subsequent widening was due in part to the weakening of trade unions and a shift in demand to more skilled workers associated with rising trade. The data indicate that supply, demand, and institutional forces are all drivers of occupational differentials, ruling out simple single factor explanations of change. The paper concludes with a call for improving the collection of occupational wage data to understand future changes in the world of work.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127680643","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I develop and estimate a technology of skill formation nested within a collective model of household behavior to evaluate the effect of various early childhood interventions. The model incorporates different channels of parental investments in children such as time, material investments, and childcare services. I estimate the model in a novel dataset from Chile and evaluate the effects on child development of three policies currently operating in the country: cash transfers, childcare subsidies, and subsidies to child-specific goods. In Chile, as is common in various countries implementing cash transfers to poor households, women are the recipient of cash transfers in bi-parental households with the idea that cash in the hands of women translate into better child outcomes. To allow for different outcomes depending on the recipient of cash transfers, in the model, household decisions are the outcome of a bargaining process between parents with different preferences. I find that cash transfers to women have limited effect on their bargaining power and that subsidies to child-specific goods are much more effective than childcare subsidies or cash transfers. Childcare subsidies increase female labor force participation but do not raise significantly skills of children.
{"title":"Evaluating Early Childhood Policies: An Estimable Model of Family Child Investments","authors":"R. Azuero","doi":"10.2139/ssrn.3545407","DOIUrl":"https://doi.org/10.2139/ssrn.3545407","url":null,"abstract":"I develop and estimate a technology of skill formation nested within a collective model of household behavior to evaluate the effect of various early childhood interventions. The model incorporates different channels of parental investments in children such as time, material investments, and childcare services. I estimate the model in a novel dataset from Chile and evaluate the effects on child development of three policies currently operating in the country: cash transfers, childcare subsidies, and subsidies to child-specific goods. In Chile, as is common in various countries implementing cash transfers to poor households, women are the recipient of cash transfers in bi-parental households with the idea that cash in the hands of women translate into better child outcomes. To allow for different outcomes depending on the recipient of cash transfers, in the model, household decisions are the outcome of a bargaining process between parents with different preferences. I find that cash transfers to women have limited effect on their bargaining power and that subsidies to child-specific goods are much more effective than childcare subsidies or cash transfers. Childcare subsidies increase female labor force participation but do not raise significantly skills of children.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"516 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133632905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-02-25DOI: 10.31014/aior.1992.03.01.198
S. Attahiru, M. Olaoye, B. Isyaku, M. Abubakar
As presently conceptualized, entrepreneurship education is implemented in Nigerian tertiary educational institutions to equip the undergraduate with business skills that would make them self-employed rather than job seekers, at graduation. The assessed relationship between personal attitude and the entrepreneurship intention among students in Federal Polytechnic in Northern Nigeria. This study was guided by a hypothesis. The study adopted causal comparative (Ex-Post-factor) design. The population of the study was made up of all the students in federal polytechnics in Northern Nigeria. Simple random sampling method named Dip-hand sampling method was used to select the sampled states for the study while proportional sampling method was used in selecting respondents from each school in the selected federal polytechnics, while the sample size was 1,135. The instrument for the study was researcher’s developed Likert-type questionnaire named influence of entrepreneur courses in the development of students’ career opportunities in Universities Nigeria. Split-half reliability was used to test the reliability of the instrument with reliability index of 0.79. PPMC was used to test hypothesis six at 0.05 alpha level of significance. It was concluded that students in Federal Polytechnic in Northern Nigeria have personal attitude towards entrepreneurship intention. It was recommended that Government should provide loans to encourage small and medium scale enterprises.
{"title":"Assessment of Relationship between Personal Attitude and the Entrepreneurship Intention among Students in Federal Polytechnic in Northern Nigeria","authors":"S. Attahiru, M. Olaoye, B. Isyaku, M. Abubakar","doi":"10.31014/aior.1992.03.01.198","DOIUrl":"https://doi.org/10.31014/aior.1992.03.01.198","url":null,"abstract":"As presently conceptualized, entrepreneurship education is implemented in Nigerian tertiary educational institutions to equip the undergraduate with business skills that would make them self-employed rather than job seekers, at graduation. The assessed relationship between personal attitude and the entrepreneurship intention among students in Federal Polytechnic in Northern Nigeria. This study was guided by a hypothesis. The study adopted causal comparative (Ex-Post-factor) design. The population of the study was made up of all the students in federal polytechnics in Northern Nigeria. Simple random sampling method named Dip-hand sampling method was used to select the sampled states for the study while proportional sampling method was used in selecting respondents from each school in the selected federal polytechnics, while the sample size was 1,135. The instrument for the study was researcher’s developed Likert-type questionnaire named influence of entrepreneur courses in the development of students’ career opportunities in Universities Nigeria. Split-half reliability was used to test the reliability of the instrument with reliability index of 0.79. PPMC was used to test hypothesis six at 0.05 alpha level of significance. It was concluded that students in Federal Polytechnic in Northern Nigeria have personal attitude towards entrepreneurship intention. It was recommended that Government should provide loans to encourage small and medium scale enterprises.","PeriodicalId":210669,"journal":{"name":"Labor: Human Capital eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128995136","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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