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Human Capital and Career Success: Evidence from Linked Employer‐Employee Data

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  • Anders Frederiksen
  • Takao Kato

Abstract

Using Danish registry data covering the population of Danish workers, we provide new and robust evidence with external validity on the importance of the breadth of human capital for top management appointments, and support/enrich the human capital theory of corporate leadership by Gibbons and Waldman and Lazear. Our analysis allows for both internal promotion and external recruitment as means to achieve top management appointments, and yields additional findings: the breath of human capital is more important in mature firms, as predicted by the theory; and the concept of firm‐specific human capital applies to the breadth of human capital.

Suggested Citation

  • Anders Frederiksen & Takao Kato, 2018. "Human Capital and Career Success: Evidence from Linked Employer‐Employee Data," Economic Journal, Royal Economic Society, vol. 128(613), pages 1952-1982, August.
    • Handle: RePEc:wly:econjl:v:128:y:2018:i:613:p:1952-1982
    DOI: 10.1111/ecoj.12504
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    More about this item

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • M5 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics

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