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Financing On-The-Job Training: Shared Investment or Promotion Based System? Evidence from Germany
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 117 (1997), Iss. 4 : pp. 525–543
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Pannenberg, Markus
Cited By
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La spécificité de la formation en milieu de travail : un survol des contributions théoriques et empiriques récentes
Vilhuber, Lars
L'Actualité économique, Vol. 77 (2009), Iss. 1 P.133
https://doi.org/10.7202/602347ar [Citations: 0]
Abstract
Though the shared investment hypothesis of human capital theory, i.e. that employers and employees share the costs of and the return on investment in firm-specific human capital, is widely accepted, we know little about the empirical evidence. The paper shows that in German data (1984 - 1991) there is no empirical evidence for the shared investment hypothesis. Rather we observe that employers are able to protect one-sided investments against opportunistic bargaining. Moreover there is a positive correlation between the incidence of employer-supported on-the-job training and promotions within firms.