A Weibull Analysis of the Current Job Tenure in Taiwan with both Accelerated Failure-Time and Proportional Hazards Matrics

Feng-fuh Jiang ()
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Feng-fuh Jiang: Institute of Economics, Academia Sinica, Taipei, Taiwan, https://www.econ.sinica.edu.tw/

No 16-A001, IEAS Working Paper : academic research from Institute of Economics, Academia Sinica, Taipei, Taiwan

Abstract: Relations of current job tenure, which refers to the length of time in the current role at a specific firm, with firm-specific human capital and their determinants are examined theoretically. The approach of estimation for the survival model is explored by associating Weibulls parametric log-linear duration model with the accelerated life model, as well as both proportional and relative hazards as embedded in Cox's proportional hazards model. By fitting the survivalmodel to household data from the May 2012 Manpower Utilization Survey of Taiwan, the estimation results can be briefly summarized as follows: (1) The duration of the current job tenure appears to be positively associated with formal schooling and general experience levels, government and large-sized firms, typical employment, full-time job, married with spouse present,and the prime agers of 29-44, and hence negatively related to the situations that it otherwise would be, i.e., medium- or small-sized firm, atypical employment, part-time job, single or no spouse status, and the mid and elderly agers of 45-64. (2) The current job tenure of the reference subject fails around 8 times as earlier (or ages around 8 times as fast) as that of the subject with covariates. More interestingly, this implies that the risk that the current job tenure of the subject fails is exposed at a given survival time to only around an eighth times the risk that the current job tenure of the reference subject fails at about an eighth time as earlie as the survival time. (3)Of all the covariates, formal schooling level imposes the greatest positive effect on the time length of current job tenure and hence have the greatest mitigating effect on the risk of current job tenure; conversely, atypical employment imposes the largest negative effect on the time length of current job tenure and hence have the largest increasing effect on the risk of current job tenure. (4) Estimation results from Weibull do have implications similar to correspondingly respective results from both the accelerated failure-time and proportional hazards metrics. JEL Classification: J24, J53, J63

Keywords: Current Job Tenure; Weibull Duration Analysis; Accelerated Failure-Time Model; Proportional Hazards; Relative Hazards (search for similar items in EconPapers)
Pages: 73 pages
Date: 2016-02
New Economics Papers: this item is included in nep-bec and nep-hrm
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