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The Economic Returns To An Mba

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  • Peter Arcidiacono
  • Jane Cooley
  • Andrew Hussey

Abstract

Because MBA programs require work experience before admittance, prior wages can be exploited to disentangle the return to the degree from unobserved productivity. We find that controlling for individual fixed effects generally reduces the estimated returns to an MBA, particularly for those in top programs. However, for full-time MBA students attending schools outside of the top-25 the estimated returns are higher when we control for individual fixed effects. We show that there is some evidence that those who take the GMAT but do not obtain an MBA are stronger in dimensions such as workplace skills that are not easily measured. Copyright � 2008 the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 49 (2008)
Issue (Month): 3 (08)
Pages: 873-899

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Handle: RePEc:ier:iecrev:v:49:y:2008:i:3:p:873-899

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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. What is an MBA worth?
    by Economic Logician in Economic Logic on 2008-08-21 08:20:00
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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Cited by:
  1. Gicheva, Dora, 2012. "Worker mobility, employer-provided general training, and the choice of graduate education," Labour Economics, Elsevier, vol. 19(2), pages 232-240.
  2. Gemus, Jonathan, 2010. "College Achievement and Earnings," Working Paper Series 2010:1, Uppsala University, Department of Economics.
  3. Hussey, Andrew, 2011. "The effect of ethics on labor market success: Evidence from MBAs," Journal of Economic Behavior & Organization, Elsevier, vol. 80(1), pages 168-180.
  4. Mai Seki, 2013. "Heterogeneous Returns to U.S. College Selectivity and the Value of Graduate Degree Attainment," Working Papers 13-46, Bank of Canada.
  5. Caroline Elliott & Kwok Tong Soo, 2012. "The International Market for MBA Qualifications," Working Papers 24284581, Lancaster University Management School, Economics Department.
  6. Grove, Wayne A. & Hussey, Andrew, 2014. "Returns to MBA quality: Pecuniary and non-pecuniary returns to peers, faculty, and institution quality," Labour Economics, Elsevier, vol. 26(C), pages 43-54.
  7. Gicheva, Dora, 2011. "Does the Student-Loan Burden Weigh into the Decision to Start a Family?," Working Papers 11-14, University of North Carolina at Greensboro, Department of Economics.
  8. Caroline Elliott & Kwok Tong Soo, 2012. "The Returns to an MBA Degree: The Impact of Programme Attributes," Working Papers 24284646, Lancaster University Management School, Economics Department.
  9. Elliott, Caroline & Soo, Kwok Tong, 2013. "The international market for MBA qualifications: The relationship between tuition fees and applications," Economics of Education Review, Elsevier, vol. 34(C), pages 162-174.

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  1. Economic Logic blog

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