Firms' human capital,R&D and performance: a study on French and Swedish firms |
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| Institution: | 1. Université Panthéon-Assas (Paris II) and ERMES-CNRS, 92, rue d''Assas 75006 Paris, France;2. Middle East Technical University, Ankara, Turkey;1. National Kaohsiung First University of Science and Technology, No. 2, Jhuoyue Rd., Nanzih District, Kaohsiung City 811, Taiwan, ROC;2. Ming Chuan University, 250 Zhong Shan N. Rd., Sec. 5, Taipei 111, Taiwan, ROC;3. National Taichung University of Science and Technology, No. 129 Sec. 3, Sanmin Road, Taichung City 404, Taiwan, ROC;1. Colin Powell School and City University of New York (CUNY), 160 Convent Avenue, New York, NY 10031, USA;2. Department of Economics, University of Cantabria, Avda. Los Castros s/n, 39005 Santander, Spain;1. Institut National de la Statistique et des Études Économiques (STATEC), EPR2 Unit, 13 Rue Erasme BP304 L-2013, Luxembourg;2. CREST-Timbre J390,15 Boulevard Gabriel Péri 92245 Malakoff Cedex, France;3. UNU-MERIT, Maastricht University and CIRANO, University of Maastricht, P.O. Box 616, 6200 MD Maastricht, The Netherlands;4. Maastricht University, Department of Quantitative Economics, P.O. Box 616, 6200 MD Maastricht, The Netherlands;1. Department of Global Sustainable Development University of Warwick, Ramphal Building, Coventry CV4 7AL, United Kingdom;2. Judge Business School, University of Cambridge, Trumpington Street, UK |
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| Abstract: | This paper studies the effects of human and technological capital on productivity in a sample of large French and Swedish firms. While the role of technological capital as measured by R&D has been intensively investigated, almost no work has been done on the role of human capital as measured by firm-sponsored training and even less its interaction with technological capital. The level of intangible capital may also have a lasting effect on productivity growth, as emphasised by some endogenous growth models in a macroeconomic setting.The study uses data from two panels of large French and Swedish firms for the same period (1987–1993). It constructs measures of a firm's human capital stock, based on their past and present training expenditures. The results confirm that firm-sponsored training and R&D are significant inputs in the two countries, although to a different extent, and have high returns. However, except for managers and engineers in France, we do not find evidence of positive interactions between these two types of capital. Finally, growth effects at the firm level do not appear. |
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