Which professional skills value more under digital transformation?

Sofiia Paklina and Elena Shakina

Journal of Economic Studies, 2021, vol. 49, issue 8, 1524-1547

Abstract: Purpose - This study seeks to explore the demand side of the labour market influenced by the digital revolution. It aims at identifying the new composition of skills and their value as implicitly manifested by employers when they look for the new labour force. The authors analyse the returns to computing skills based on text mining techniques applied to the job advertisements. Design/methodology/approach - The methodology is based on the hedonic pricing model with the Heckman correction to overcome the sample selection bias. The empirical part is based on a large data set that includes more than 9m online vacancies on one of the biggest job boards in Russia from 2006 to 2018. Findings - Empirical evidence for both negative and positive returns to computing skills and their monetary values is found. Importantly, the authors also have found both complementary and substitutional effects within and between non-domain (basic) and domain (advanced) subgroups of computing skills. Originality/value - Apart from the empirical evidence on the value of professional computing skills and their interrelations, this study provides the important methodological contribution on applying the hedonic procedure and text mining to the field of human resource management and labour market research.

Keywords: Value of skills; Returns to skills; Skills differential; ICT skills; Computing skills; Vacancy data; Hedonic pricing; J24; J31; O30 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jespps:jes-08-2021-0432

DOI: 10.1108/JES-08-2021-0432

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