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In this paper, a specific form of human capital is analyzed, relational capital, which consists of matches between market parties. Search and information costs make these matches valuable to both parties. Its peculiarity is that the control over such matches is transferred within firms from...
Persistent link: https://www.econbiz.de/10014171733
In this paper, a specific form of human capital is analyzed, relational capital, which consists of matches between market parties. Search and information costs make these matches valuable to both parties. Its peculiarity is that the control over such matches is transferred within firms from...
Persistent link: https://www.econbiz.de/10014171829
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We develop a product market theory that explains why firms invest in general training of their workers. We consider a …-specific training if others do the same, because they would otherwise suffer a competitive disadvantage or need to pay high wages in …
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