122 research outputs found

    The measurement and determinants of skill acquisition in young workers' first job

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    The article analyses participation in five types of training (formal on-site, formal off-site, informal co-worker training, learning by watching and learning by doing) and self-assessed skill acquisition in young Flemish workers' first job. A skill production function is estimated whereby the simultaneity of participation in the different types of training and skill acquisition is taken into account. The results clearly demonstrate the importance of informal training. Formal training participation is found to be only a fraction of total training participation. Moreover, the determinants of total training participation and skill acquisition differ from those of formal training participation. While some training types are complementary, others are clearly substitutes. Finally, most types of training generate additional skills. Nonetheless, learning by doing is found to be complementary to formal education in the production of both specific and general skills, whereas formal training serves as a substitute

    The Effects of Cost and Asset Retrenchment on Firm Performance: The Overlooked Role of a Firm’s Competitive Environment

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    When firms face declining financial performance, research suggests that cost and asset retrenchment can lead to improved performance among poorly performing firms. However, previous studies have largely focused on firms operating in mature industries. This research develops and tests arguments that cost and/or asset retrenchment strategies will have different effects on firm performance in competitive environments characterized as growing and declining. In growth industries, asset retrenchment was positively related to performance improvement while cost retrenchment was unrelated. In declining industries, cost retrenchment was positively related to improved performance while asset retrenchment had a negative effect on firm performance. Implications of these findings for turnaround strategies are discussed.Yeshttps://us.sagepub.com/en-us/nam/manuscript-submission-guideline
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