Firm-Specific Human Capital as a Shared Investment

By M. Hashimoto. 2001

732 citations recorded by the source corpus.

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Citations in the corpus

Education and Training in Europe (2007, background): “For specific human capital – of value only to the one firm - it is efficient for the firm and the worker to share both the costs and the returns of the training investment to avoid hold-up problems (Hashimoto, 1981; Leuven and Oosterbeck, 2001).”
Firm‐specific knowledge resources and competitive advantage: the roles of economic‐ and relationship‐based employee governance mechanisms (2009, background): “…human capital has 5 limited economic value in alternative settings, efficient outcomes may be achieved under the condition that the costs and returns of specific human capital investments are shared between the firm and the employees (e.g., Becker, 1964; Bartel and Borjas, 1977; Hashimoto, 1981).”
Micro-Foundations of Firm-Specific Human Capital: When Do Employees Perceive Their Skills to be Firm-Specific? (2016, unknown): “This assumption is drawn from the classic human capital literature (Becker, 1964; Glick & Feuer, 1984; Hashimoto, 1981; Jovanovic, 1979; Parsons, 1972).”
The Economics of Private Sector Training: A Survey of the Literature (2005, background): “See Hashimoto (1981).”
Education and job match: The relatedness of college major and work (2007, background): “While research has not explored the type of training received by overeducated workers, on-thejob training may provide skills that are firm specific (Hashimoto, 1981), occupation specific (Weiss, 1971; Shaw, 1984, 1987), or completely general.”
Employee Incentives to Make Firm-Specific Investments: Implications for Resource-Based Theories of Corporate Diversification (2006, background): “The rents generated by these firm-specific investments are often shared between a firm’s employees and its owners (Becker, 1964; Hashimoto, 1981; Rumelt, 1987) and, thus, can be a source of wealth for both the employees and the owners.”
Rethinking Sustained Competitive Advantage from Human Capital (2012, background): “4 This emphasis is due to the deeply held assumption in the classic human capital literature that firm-specific human capital constrains worker mobility (e.g., Bartel & Borjas, 1977; Glick & Feuer, 1984; Hashimoto, 1981; Jovanovic, 1979; Parsons, 1972).”
Human capital matters: Market valuation of firm investments in training and the role of complementary assets (2017, background): “Regarding firm-specific training, the firm is expected to gain at least some of the economic returns from training that increases productivity when the human capital is firm-specific (Coff, 1997; Harris & Helfat, 1997; Hashimoto, 1981).”
Economic resilience in Great Britain: the crisis impact and its determining factors for local authority districts (2016, background): “The second channel is via human and firm-specific capital created through on-the-job training (Becker 1962; Hashimoto 1981).”
Why Do Foreign-Owned Firms Pay More? The Role of On-the-Job Training (2007, unknown): “Section II: Theoretical Framework Traditionally the impact of firm specific training on wages is analysed using Hashimoto's (1981) model where competition ensures that the contract maximizes expected joint surplus in an uncertain world.”
Testing Some Predictions of Human Capital Theory: New Training Evidence from Britain (2005, background): “In the specific training model, it is efficient for the firm and worker to share both the costs and the net returns of the training investment (Hashimoto, 1981).”
Turnover Intention and Turnover Behavior (2012, background): “Workers’ skills tend to become more firm specific as their careers progress, making turnover more costly for both them and their employers (Hashimoto, 1981; Parsons, 1972), making them less likely to leave.”
The Common Factor in Idiosyncratic Volatility: Quantitative Asset Pricing Implications (2014, background): “As noted by Hashimoto (1981), “The stan- 22A large literature including French and Poterba (1991), Coval and Moskowitz (1999) and Calvet, Campbell, and Sodini (2007) indicate that the typical household is exposed to idiosyncratic stock risk above and beyond that due to overallocation of savings to…”
Occupational Specificity of Human Capital (2009, methodology): “Before moving on to the analysis of the sensitivity of our findings, we would like to reiterate that properly attributing the specificity of human capital is important for under(8)See Ingram and Neumann (2000) for an attempt to construct such a metric by merging the occupational titles contained in ”