Firm-specific training

• 成果类型: Article
• 署名作者: Felli, Leonardo; Harris, Christopher
• 署名单位: University of London; London School Economics & Political Science; University of Cambridge
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2018.01.010
• 发表日期: 2018
• 页码: 585-623
• 关键词: Specific human capital; training; learning-by-doing; turnover; Productivity enhancement; Employee evaluation

摘要

This paper investigates the market provision of firm-specific training, and identifies the inefficiencies associated with it. Within a general stochastic learning-by-doing model, there is a potential inefficiency in the market provision of firm-specific training. In order to determine whether this inefficiency is in fact present, we analyze two special cases of the model: the accelerated productivity-enhancement model and the accelerated learning model. In both models, the inefficiency is indeed present. However, the nature of the inefficiency depends on the balance between the two key components of training, namely productivity enhancement and employee evaluation. In the accelerated productivity-enhancement model, training results in an increase in productivity enhancement but no change in employee evaluation, and training is overprovided by the market. In the accelerated learning model, training results in a proportionate increase in both productivity enhancement and employee evaluation, and training is underprovided by the market. In both cases, turnover is inefficiently low. (C) 2018 Elsevier Inc. All rights reserved.