397 research outputs found

    Essays on the Role of Specific Human Capital

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    Human capital theory states that workers' knowledge and skills increase their productivity and thus raise their earnings. An important dimension of human capital theory distinguishes between general human capital and specific human capital. Chapter Two and Chapter Three of this dissertation examine two groups of individuals who encounter interruptions in their work careers and cannot completely transfer their specific human capital to their new jobs. Chapter Two investigates displaced workers who lose jobs due to mass layoffs by their employers. Their success in job transition depends partially on the extent to which their human capital can be carried over across jobs. The Chapter Two analysis adds to the extensive literature on the earnings cost of displacement by distinguishing the earnings losses between high technology (hi-tech) displaced workers and low-tech displaced workers. Earnings losses are estimated using a generalized difference-in-difference model which compares the earnings patterns of displaced workers with a comparison group of non-displaced workers. The empirical results demonstrate that earnings decline substantially upon displacement and then recover gradually. Hi-tech displaced workers suffer larger initial earnings losses and have faster recoveries than other displaced workers. Chapter Three examines female immigrants to the U.S. whose entry wages fall short of those of comparable natives because their human capital accumulated in foreign countries is not completely transferable to the U.S. labor market. The entire literature on immigrant skills has focused almost exclusively on male immigrants. Chapter Three extends the previous research to the population of female immigrants by examining changes across cohorts in their labor market skills, as measured by their English proficiency, educational attainment and wages. The results show that, across successive cohorts of female immigrants, English proficiency at entry stays constant and average education level increases. After controlling for human capital and demographic characteristics, predicted wages are lower for female immigrants upon entry relative to female natives. Compared to male immigrants in the same period, female immigrants exhibit faster growth across cohorts in educational attainment and in predicted wages. Overall, this dissertation provides further evidence of the role of specific human capital in explaining multiple dimensions of workers' earnings patterns

    The golden touch: how screen touches influence product attitude and purchase intention

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    The widespread usage of touch screen devices such as smartphones and tablets has changed how people interact with mediated information. The physical action of touch is more direct in that people interact with the information on the screen, rather than indirectly via input devices like a mouse or trackpad. The goal of this study is to examine whether different ways of physically interacting with media influence consumers’ attitude and purchase intention in online shopping, and how congruity between the touch feeling of specific products and touchscreens may moderate this effect of interaction. Participants viewed pictures of products which had either congruent or incongruent haptic feeling with an iPad screen by directly touching the screen or indirectly using a mouse, and then indicated their attitude, purchase intention and valuation toward these products. The results showed that consumers assigned more value when product information was acquired by touching. However, the main effect of physical interaction on attitude and purchase intention, and interaction effect between interaction and haptic congruity were not found

    The effect of environmental regulations on innovation in heavy-polluting and resource-based enterprises : Quasi-natural experimental evidence from China

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    Correction: The affiliation for the third author is incorrect. The correct affiliation for Xiaohan Hu is: Faculty of Agriculture and Forestry, University of Helsinki, Finland. Volume 17 Issue 7 Article Numbere 0272098 DOI 10.1371/journal.pone.0272098 Published JUL 21 2022Environmental protection regulations adopted by governments affect the microeconomic behavior of enterprises. The Chinese government began piloting the outgoing leading officials’ accountability audit of natural resources assets (OANRA) in some regions in 2014. Based on this quasi-natural experimental setting, this paper chose heavy-polluting and resource-based enterprises in pilot regions of China from 2011 to 2016 as examples for studying the impact of the OANRA on enterprise innovation and further examines the role of government subsidies in this process. The study finds that the OANRA has no significant impact on enterprise innovation. However, with support from government subsidies, the OANRA dramatically accelerates enterprise innovation investment. The results are still seen after applying propensity matching analysis (PSM), balancing panel data and deleting special provinces. Further analysis shows that this effect is more obvious among small-scale, state-owned enterprises that are located in areas with high degrees of marketization and high bank credit constraints. This study advances the research of the OANRA’s effects on the microeconomic behavior of enterprises. Moreover, the adjustment effect of government subsidies also provides great reference value to making rational use of policy to cooperate with the OANRA.Peer reviewe

    Impact of the implementation of carbon emission trading on corporate financial performance : Evidence from listed companies in China

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    With the development of ecological paradigm coupled with the relentless implementation of myriad environmental policies in China, the rapid development of carbon emission trading and carbon trading market has had a vital impact on the financial performance of enterprises at the microlevel. This study has sampled the A-share listed companies in China, from 2009 to 2018, and adopted the difference-in-difference (DID) method to investigate the effect of the carbon emission trading on corporate financial performance from the microlevel. Evidence showed that the implementation of carbon emission trading effectively improved the total asset-liability ratio of enterprises, though it reduced the value of the current capital market. Moreover, in the regions under strict legal environment, the enhancement effect of the total asset-liability ratio was more obvious, whereas in the regions under loose legal environment, the reduction effect of the value of the capital market was more obvious. Further analysis showed that the implementation of carbon emission trading could not promote Chinese enterprises to increase R&D investment. Hence the implementation of carbon emission trading has improved the level of non-business income of enterprises incorporated into the trading system, but its impact on the investment income of enterprises was not significant.Peer reviewe
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