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Titel
Financing constraints and employers' investment in training / Giorgio Brunello (University of Padova and IZA), Áron Gereben (European Investment Bank), Christoph Weiss (European Investment Bank), Patricia Wruuck (European Investment Bank) ; IZA Institute of Labor Economics
VerfasserBrunello, Giorgio ; Gereben, Áron ; Weiss, Christoph ; Wruuck, Patricia
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, March 2020
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (40 Seiten) : Diagramme
SerieDiscussion paper ; no. 13067
URLVolltext
URNurn:nbn:de:hbz:5:2-215775 
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 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
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Financing constraints and employers' investment in training [0.4 mb]
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Zusammenfassung

Using a representative sample of European firms, we study whether and to what extent financing constraints affect employers' decision to invest in employee training. We combine survey data on investment activities with administrative data on financial statements to develop an index of financing constraints. We estimate that a 10 percent increase in this index reduces investment in training as a share of fixed assets by 2.9 to 4.5 percent and investment in training per employee by 1.8 to 2.5 percent. We document that lower investment in training reduces productivity, and show that firms facing tighter financing constraints cut back the investment in training and tangible assets less than the investment in R&D and software and data.

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