Is Supplementary Pension Beneficial to Human Capital Investment? Evidence from China

被引：1
|
作者：
Gong, Yalin [1 ]
Lai, Li [2 ]
Chan, Kam C. [3 ]
Xia, Xiaolan [4 ]
机构：
[1] Southwestern Univ Finance & Econ, Sch Secur & Futures, Chengdu, Peoples R China
[2] Southwestern Univ Finance & Econ, Sch Insurance, Sch Accounting, Chengdu, Peoples R China
[3] Western Kentucky Univ, Gordon Ford Coll Business, Dept Finance, Bowling Green, KY 42101 USA
[4] Sichuan Agr Univ, Sch Management, Chengdu, Peoples R China
来源：
EMERGING MARKETS FINANCE AND TRADE | 2022年 / 58卷 / 03期
关键词：
Supplementary pension; short-term compensation; employee education; human capital investment; CHOICE; PLANS;
D O I：
10.1080/1540496X.2020.1843426
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We examine the impact of a supplementary pension insurance program (SPIP) and short-term compensation on firm-level human capital investment using a sample of Chinese firms from 2007 to 2018. The findings suggest that both SPIP and short-term compensation have positive effects on human capital investment, and the magnitude of SPIP is stronger than that of short-term compensation. Further analysis suggests that the impact of SPIP on human capital investment in a firm is magnified when the firm has high-quality employees. Our findings are robust after accounting for potential endogeneity concerns. When compared with short-term compensation, SPIPs contribute more to establishing a long-term relationship between a firm and its employees, which stimulates human capital investment.
引用
收藏
页码：739 / 753
页数：15
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