The significance of firm and occupation specific human capital for hiring and promotions

Illoong Kwon () and Eva M. Meyersson Milgrom

Labour Economics, 2014, vol. 31, issue C, 162-173

Abstract: This paper analyzes firms' hiring and promotion patterns, and infers the relative significance of the firm- and occupation-specific human capital required for each job rank. The results suggest that firm-specific skills are just as valuable as occupation-specific skills, and that the value of these specific skills increases in job rank. However, there is great heterogeneity across occupations. This paper also shows that the lengths of firm- and occupation-tenure are noisy measures of firm- and occupation-specific human capital, and contrasts our results with those of other recent studies on the returns to firm- and occupation-tenure for wages.

Keywords: Firm-specific human capital; Occupation-specific human capital; Promotions (search for similar items in EconPapers)
JEL-codes: J24 J62 M51 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:labeco:v:31:y:2014:i:c:p:162-173

DOI: 10.1016/j.labeco.2014.07.003

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