经理层整体教育水平与上市公司经营绩效的实证研究

为了避开传统的劳动经济学模型中利用工资度量市场回报的缺陷,本文利用经营绩效指标托宾Q,通过对1999年到2003年间中国上市公司综列数据的实证研究,发现经理层的整体教育水平与公司经营绩效之间显著的正相关关系。进一步的研究发现,教育的市场回报率在市场经济发达程度不同的地区表现出不同的显著性程度,经济发达地区上市公司经理层整体教育水平对公司绩效的作用更加显著。在方法论上,本文根据中国公司治理结构的特殊性,巧妙地处理了教育本身的内生性问题。     

行政腐败对居民收入的影响——基于中国居民微观调查的证据

本文利用CGSS(2008)家庭调查数据、世界银行(2005)对中国120个地级市的企业调查数据和国家统计局工业企业调查数据,研究了行政腐败对居民个体收入的影响。根据世行数据,我们构造了两个腐败指标,其一是当地企业向银行贷款时需要向银行信贷员行贿的平均比例;其二是企业高层每年用于陪伴政府官员的平均时间。根据统计局的工业调查数据,我们用区、县规模以上企业的总资产和总销售量度量当地经济发展水平。通过对全样本和城市、农村分地区的线性回归、分位数回归和引入交互项分析,我们发现:(1)不论是在城镇还是农村、不论是收入高的群体还是收入低的群体,行政腐败从总体上都减少了居民的收入;(2)受教育水平是影响居民收入的重要因素,腐败则显著地通过影响教育回报率而影响居民收入。具体说来,在城镇,腐败降低了教育的回报;然而在农村,腐败的影响正好相反。     

中国不同所有制部门的工资决定与教育回报:分位回归的证据

文中利用分位回归估计了不同所有制部门的工资方程.对于国有部门而言,1991、1993年的结果表明,低分位回归中的教育回报率比较高(1997年的结果没有明显的规律)。而对于私营经济而言,1993、1997年的结果表明,高分位回归中的教育回报率高于低分位回归。这种规律在城市和农村地区都是成立的。国有部门中处在收入条件分布低端的样本工资增长快于处在条件分布高端的样本,民营部门则没有这样的规律,甚至与之相反。     

重点高中带来的工资溢价：来自大学生就业调查的证据北大核心CSSCI

本文利用大学毕业生就业调查2010、2013年的数据,估算就读重点高中对大学毕业生初始工资的影响。研究表明,给定个人和家庭特征以及高中前的学业表现,毕业于省重点高中的大学毕业生比其他大学毕业生起薪水平高出了约17%。重点高中起作用的主要渠道是重点高中的学生取得了更高的高考成绩并上了更好的大学和专业,这解释了约10个百分点的重点高中回报率。我们可以观测到高中阶段和大学期间的其他人力资本变量(如成绩排名等)贡献都很小,加起来不到1个百分点。因此,有将近5个百分点的回报率可以归为我们不可观测的能力(如自信心、表达沟通能力)或社会资源(如社交网络)的回报。此外,重点高中回报率没有明显的性别、城乡和年度差别。     

基础设施资本回报率的估算及影响因素研究

文章在合理界定并调整基础设施统计口径基础上，运用永续盘存法非传统途径和生产函数法谨慎测算了基础设施的全套资本存量和资本回报率，并构造1993-2016年省级面板数据，从三个方面分解并检验了基础设施资本回报率的影响因素。研究发现：（1）全国生产性基础设施资本存量急剧攀升，年均增速达到12.6%。其中，经济基础设施存量持续高于社会基础设施。（2）基础设施资本回报率呈现倒"U"型变动趋势，且在不同基础设施类型和区域间保持稳健。其中，社会基础设施的资本回报率整体高于经济基础设施，东部地区的基础设施资本回报率高于中部地区，西部地区则长期处于低位运行。（3）基于基础设施资本产出比不断上升是其资本回报率持续下降的主因这一判断，进一步证实基础设施投资率及其资本深化程度，以及人力资本积累、城镇化等因素整体上均显著影响基础设施资本回报率。     

中国城市房价对居民消费的影响——基于中国城镇家庭的经验研究

本文运用2002-2009年的中国城镇住户调查数据,对家庭异质性进行分项研究,并由此得出结论:1平均而言,房价上涨对老年户主的消费影响最大;2对于没有住房的家庭,年轻家庭与年老家庭不会因为房价上涨而额外的改变其非租金消费;3对于有一套房的家庭,依然不会改变老年家庭的非租金消费;4在分析是否有未婚子女特征的家庭中发现,有未婚男性的家庭消费抑制效果基本高于有未婚女性的家庭,但在35-44岁与45-54岁家庭中因未婚男性的因素消费存在相反的效果。总体而言,拥有儿子的家庭其消费抑制效果要高于拥有女儿的家庭。     

英语技能在中国劳动力市场的工资溢价测算

作为人力资本的一种形式,语言能力在劳动力市场很可能有一定的经济回报。文章采用CFPS、CLDS和CGSS三套数据,检验了英语的工资回报效应。总体上,英语存在显著的"工资溢价"效应,且这种效应具有异质性。例如,年龄较大、受教育程度较高、从事管理和技术职业以及东部地区劳动者的英语经济回报率显著,同时英语能力对城市居民的影响要大于农村居民,对城市本地居民的影响要大于农民工。另外,在工资回报率上,英语的听说能力要明显大于英语的读写能力,而口语的作用又要大于听力。     

教育收益率、行业与工资的性别差异:基于西部三个城市的经验研究

本文通过使用扩展的性别工资差异分解方法对中国西部城市的性别行业进入差异和行业内部工资差异进行分解,分析了高等教育回报对行业选择和收入差异的影响。经验研究的基本结果包括:(1)在全部的性别工资差异上,由于男女的禀赋差异引起的可解释部分占差异的57.77%,歧视解释了总差异的42.24%,在歧视部分中,行业进入方面的对女性的歧视就占了1/3强的部分,行业内部的工资歧视占2/3左右;(2)对于受过高等教育的女性来说,存在显著的行业进入方面的不利性别偏向,在行业选择方面,女性的高等教育回报率低于男性。在低收入行业中,女性高等教育和"高中/职高"层次的教育其回报率都显著的高于男性,高收入行业内部则相反;(3)在可解释的行业和工资性别差异中,教育解释了其中的5%左右,并且教育具有显著的缩小行业进入性别差异的作用。在高收入行业内部,高等教育显著缩小了男女工资差异,而在低收入行业内部,高等教育解释力较弱,而经验和健康状况对于这部分差异贡献率较大。     

妇女教育对农户收入与收入差距的影响:山西的经验证据

本文基于中国山西省947个农户微观数据,针对男女劳动力的教育对农户收入和农户收入差距的影响进行测算。经验研究的结果显示:平均来说,男性和女性劳动力多接受一年的教育能够使家庭收入分别提高14.1%和16.3%;不同收入组人群教育的边际收益亦不同,女性劳动力教育的边际收益在中高收入组高于低收入组,而男性劳动力教育的边际收益情况则相反,说明女性劳动力的教育回报差异是扩大农户收入不平等的原因之一。     

最低工资提升的劳动供给效应:一个基于自然实验的经验研究

本文以2005年和2006年之间中国各省市最低工资的提升作为一项自然实验,使用就业方程和工作时间方程控制个体异质性,应用“双重差分法”分析了最低工资提升的劳动供给效应.研究结果表明:最低工资提升对女性就业产生了显著的负面影响,对男性周工作时间产生了显著的正面影响;随着最低工资提升幅度的逐渐增大,其对女性就业的负面影响越来越大,对男性工作时间的正面影响也越来越大;当最低工资提升30％以上时,其对男性就业也产生了显著的负面影响.因此,为了保证最低工资在提高低技能劳动力工资水平的同时,不会对其劳动供给产生较大负面影响,最低工资提升应该是一个适度渐进的过程.     

Education and Earnings in Transition: The Case of Lao*

This paper is a study on the returns to education in Lao, a country that has been largely neglected by the published literature. The authors found that the private rates of returns to education have risen significantly with economic transition. In particular, returns for young workers are considerably higher than for older workers. Although large earnings premiums are generally received by workers with high levels of education, the most profitable investment in education for a large number of paid employees is still the primary level. Moreover, there are the significant public–private sector wage differentials. The research findings have important implications for public sector salaries and the financing of education in Lao.     

Women's higher education in Japan: Family background,economic factors,and the Equal Employment Opportunity Law

Since the mid-1980s there has been a striking increase in the propensity of young Japanese women to attend four-year universities. During this same period, the Japanese Diet, in 1985, passed the Equal Employment Opportunity Law, which focused on improving women's access to career employment. This paper uses micro-data from the Japanese Panel Survey on Consumers (JPSC) to investigate the importance of socio-economic and demographic factors, as well as the EEO Law, in determining the higher education decisions of young women in Japan.We find that one of the most important factors in determining whether or not a young woman attends university is whether or not her mother attended university. Other important factors we identify include whether or not her father attended university, whether or not the young woman attended juku in high school, family income, and attendance at private secondary school. Data limitations prevent drawing strong conclusions about the role of the passage of the EEO Law, but our results suggest that the passage of the law was associated with an increase in the propensity of young women to choose university over junior college.     

Returns to school resources in the Jim Crow South

We estimate returns to school resources in the Jim Crow era, as measured by young males' 1940 wage earnings, occupational status, and cognitive aptitude scores. Results point to a 16 cent annual return on each $1 invested in public schools. To the question of whether some school inputs mattered more than others, we find comparable 25–32 cent returns per dollar invested in extended school years, teacher salaries, and smaller classes. School spending and inputs had much more bearing on labor market outcomes than aptitude scores. We document diminishing returns to school expenditures, which, in combination with segregated schools, resulted in higher returns to expenditures in black schools relative to white.     

The economic returns to proficiency in English in China

We examine economic returns to proficiency in English in China using two waves of the China Labor-Force Dynamics Survey (CLDS). We find positive earnings returns to proficiency in English. We find considerable heterogeneity in the economic returns to proficiency in English across age groups, coastal and inland provinces, levels of education and occupation. We find that the returns to proficiency in English are higher in the coastal region, higher for women and evidence of education-language and skill-language complementarity. We also see differences in the economic returns to English between urban and rural residents and between rural-urban migrants and urban locals. Our findings help to explain why the demand for learning English is so high in China, as well as having implications for the Chinese government at a time when it is re-evaluating the importance attached to learning English in the curriculum.     

Wage Returns to Schooling in Nigeria

Abstract: In the last two decades, primary and secondary school enrollment rates have declined in Nigeria while enrollment rates in post‐secondary school have increased. This paper estimates from the General Household Survey for Nigeria the private returns to schooling associated with levels of educational attainment for wage and self‐employed workers. The estimates for both men and women are small at primary and secondary levels, 2–4 percent, but are substantial at post‐secondary education level, 10–15 percent. These schooling return estimates may account for the recent trends in enrollments. Thus, increasing public investment to encourage increased attendance in basic education is not justifiable on grounds of private efficiency, unless investments to increase school quality have higher private returns. With high private returns to post‐secondary schooling, students at this level should pay tuition, to recoup more of the public costs of schooling, which may be redistributed to poor families through scholarships.     

Off‐farm wage returns to education: A study in KwaZulu

Off‐farm wage returns to school education are estimated using sample survey data gathered in rural KwaZulu. The results show that returns to school education are relatively high for both men and women. Conclusions are drawn regarding structural changes and appropriate policy in rural KwaZulu.     

Are Charters the Best Alternative? A Cost Frontier Analysis of Alternative Education Campuses in Texas

Previous research on the relative efficiency of charter schools focused on schools that serve a general student population. In Texas, as in many other states, some charter schools have been designed specifically to serve students who are at risk of dropping out of school. Such “alternative education campuses” may have very different cost and efficiency profiles than schools designed to serve students in regular education programs. In this article, we estimate a translog stochastic cost frontier model using panel data for alternative public high school campuses in Texas over the five‐year period 2007–2011, and find that alternative education high school campuses operated by charter schools are systematically more efficient than alternative education high school campuses operated by traditional public school districts. Policies that encourage the formation of alternative education charter campuses may thus be a sensible component of strategies to combat the pervasive and pernicious problem of high school dropouts.     

Financial risk exposure of returns to education: Panel evidence from Korea*

The present study examined financial market risk exposure of human capital returns, which are represented by the returns to education, using panel data for Korea. Overall, financial market shocks seem to be irrelevant to returns to education. However, when we divide a financial market shock into cash flow news and discount rate news leading to a negative risk premium, returns to education increase after positive news about future cash flows and unexpected increases in discount rates Therefore, the risk exposure to cash flow shocks is offset by the exposure to discount rate shocks. The returns to education of low‐income workers were significantly exposed to the cash flow risk as compared to those with a high income, but they were offset by the positive correlation to discount rate shocks. In contrast, considering the gap between generations, the old generation was not only less exposed to the cash flow risk compared to the young generation regarding returns to education but also positively correlated with the discount rate shock, resulting in less exposure to financial market risks.     

The relationship of returns to investment in undergraduate education and major area selection

Conclusions The results of the present analysis indicate that the human capital based theory of major area selection does not predict. Furthermore, the results cast substantial doubt upon the generality of Koch's results to other colleges and universities. Although the present analysis indicates that returns were not a major consideration in the selection of majors in the 1960's, if students were more aware of the magnitude of differences in pecuniary returns available in various occupations and associated major areas such returns might play a more important role in major area selection decisions. Examination of the returns determined in the present analysis reveals that there were many occupations and associated major areas exhibiting high pecuniary returns. A baccalaureate degree may no longer be as great an influence as in the past with respect to entry into high paying or prestige occupations, but high pecuniary returns are still available in many areas. Better high school counseling would make students aware of such returns so that better returns on investment in college education could be obtained. In addition, better college counseling of freshmen and sophomores concerning differences in returns available in various major areas could help students obtain better returns for their investments in education. This research is based upon the author's dissertation completed at the University of Kansas in 1975.