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Shareholders and Stakeholder: Human Capital and Industry Equilibrium

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Author Info

  • Miller, M.
  • Ippolito, R.
  • Zhang, L.

Abstract

Producing high technology output and supplying sophisticated services often involves costly investment in industry specific skills. But the threat of poaching means that it is the individual "stakeholder", not the firm, who must bear the cost. We investigate various mechanisms for funding human capital investment in an industry equilibrium framework where capital market imperfections would (in the absence of intervention) result in underinvestment.

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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 481.

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Length: 22 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:wrk:warwec:481

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Keywords: HUMAN CAPITAL ; INDUSTRY ; INVESTMENTS;

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Cited by:
  1. Booth, Alison L & Francesconi, Marco & Zoega, Gylfi, 1999. "Training, Rent-Sharing and Unions," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2200, C.E.P.R. Discussion Papers.

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