The return to firm investment in human capital
By: Pedro Carneiro, Rita Almeida
Contributors: Almeida, Rita; World Bank
Series: Policy research working paper -- 3851; Policy research working papers (Online) -- 3851.
Publisher: World Bank
Published: 2006
Place of publication: Washington, D.C
Language: eng
Format: [electronic resource] /
Subjects: Human capital; Capital investments
Description: "In this paper the authors estimate the rate of return to firm investments in human capital in the form of formal job training.  They use a panel of large firms with unusually detailed information on the duration of training, the direct costs of training, and several firm characteristics such as their output, workforce characteristics, and capital stock.  Their estimates of the return to training vary substantially across firms.  On average it is -7 percent for firms not providing training and 24 percent for those providing training.  Formal job training is a good investment for many firms and the economy, possibly yielding higher returns than either investments in physical capital or investments in schooling.  In spite of this, observed amounts of formal training are small. "--World Bank web site.
Notes: Title from PDF file as viewed on 3/8/2006.

Includes bibliographical references.

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Mode of access: World Wide Web.