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The Effects of General and Firm-Spesific Training on Wages and Performance: Evidence from Banking

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Author Info
Derek Jones
Panu -Kauhanen Kalmi
Abstract

ABSTRACT : By using new panel data for Finnish banks we study the impact of training on wages and performance. To the best of our knowledge, ours is the first paper to compare explicitly the effects of general and firmspecific workplace training on outcomes for both employees and firms. Unlike much existing literature, we find stronger evidence that training improves worker outcomes rather than organizational performance. Depending upon specification, the estimated wage elasticity with respect to training is in the range of 3-7%, whereas the performance effects vary widely depending on the measures of training intensity. The other key finding is that general training is associated with higher wage and performance effects than is firm-specific training. YLEISEN JA YRITYSKOHTAISEN KOULUTUKSEN VAIKUTUKSET PALKKOIHIN JA MENESTYMISEEN : Näyttöä pankkitoimialalta

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Paper provided by The Research Institute of the Finnish Economy in its series Discussion Papers with number 1184.

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Length: 34 pages
Date of creation: 22 Apr 2009
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Handle: RePEc:rif:dpaper:1184

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Find related papers by JEL classification:
M53 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Training
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages

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  2. Esho, Neil, 2001. "The determinants of cost efficiency in cooperative financial institutions: Australian evidence," Journal of Banking & Finance, Elsevier, vol. 25(5), pages 941-964, May. [Downloadable!] (restricted)
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  4. Cuesta, Rafael A. & Orea, Luis, 2002. "Mergers and technical efficiency in Spanish savings banks: A stochastic distance function approach," Journal of Banking & Finance, Elsevier, vol. 26(12), pages 2231-2247. [Downloadable!] (restricted)
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  8. Loewenstein, Mark A & Spletzer, James R, 1998. "Dividing the Costs and Returns to General Training," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 142-71, January. [Downloadable!] (restricted)
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  10. Jeffrey A. Groen, 2006. "Occupation-specific human capital and local labour markets," Oxford Economic Papers, Oxford University Press, vol. 58(4), pages 722-741, October. [Downloadable!] (restricted)
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