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bor Productivity
Jung, Dae Bum
. Introduction
Key words of current world trends
Globalization
Knowledge-based economy
Communicopia
post-information
Ubiquitous-computing (mobile based network)
conomic development
Limitation
Use the cross-section data (1950s 1960s)
Research methods : Correlation, Coefficient
Labor productivity
Research method
Variable control
Regression formulation
. Theoretical Background
(Precedent Research)
Researcher
Harbison
&
Myers
Bannett
Analysis Year
Analysis Target
Analysis Method
GNP / capita
GNP / capita
% of enrollment in Schools
1959
75 countries
% of public education fee
1955-1956
69 countries
% of academic education
in secondary school
% of vocational education
in secondary school
Rate of savings
% of enrollment in secondary school
GNP / capita
Curle
1958
57 countries
% of investment in education
Rate of economic
growth
% of enrollment in elementary school
Infant mortality rate
Bowman
1950-1955
83 countries
% of literacy
GNP / capita
. Research Methods
Analysis Data
Data from Korea Information Service-Financ
Population of
Higher Education
Economically
Active
population
Labor
Productivity
Research Variables
Item
Variables
Dependent
Variables
(lnSPP)
Quality of human
capital
(LnEDU)
Details of Variables
the value after taking a natural logarithm to the total sales/the number
of employees (1 million won)
the value after taking a natural logarithm to population with college
degree available for economical activities (1 thousand people)
Capital intensity /
person
(lnFCP)
won)
Explanator
y Variables
(lnEEP)
Employees
(lnNOE)
Proportion of incentives
(INC)
the value after taking a natural logarithm to (the total cost for training
the number of employees) (1 thousand won)
Average
Standard Deviation
Minimum
Maximum
1990
4.496
0.674
2.706
7.719
1991
4.634
0.704
2.710
7.886
1992
4.750
0.701
2.831
8.057
1993
4.849
0.706
2.592
8.084
1994
5.010
0.679
2.975
8.352
1995
5.146
0.688
3.138
8.619
1996
5.278
0.691
3.406
8.972
1997
5.437
0.714
3.508
9.523
1998
5.578
0.773
3.494
9.794
1999
5.690
0.746
3.666
9.747
2000
5.776
0.743
3.891
8.827
2001
5.833
0.733
4.038
8.872
2002
5.930
0.760
4.163
8.765
2003
5.957
0.744
4.199
8.587
2004
6.068
0.761
4.401
8.809
2005
6.121
0.752
4.394
8.784
2006
6.189
0.778
4.416
8.732
2007
6.254
0.778
4.166
8.761
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
8.074
8.183
8.310
8.408
8.456
8.522
8.584
8.616
8.763
8.806
8.858
8.913
8.969
9.096
9.145
9.195
9.243
9.293
Ln
3.787
4.024
4.135
4.1770
4.374
4.584
4.677
4.626
3.900
4.092
4.357
4.367
4.692
4.724
4.880
5.018
5.166
5.190
EEP
(1.357)
(1.376)
(1.401)
(1.564)
(1.524)
(1.476)
(1.427)
(1.396)
(1.736)
(1.575)
(1.537)
(1.760)
(1.504)
(1.638)
(1.449)
(1.483)
(1.513)
(1.542)
Ln
11.510
11.694
11.830
11.939
12.095
12.232
12.373
12.588
12.809
12.902
12.908
12.929
12.958
12.999
13.066
13.145
13.230
13.310
FCP
(0.754)
(0.753)
(0.740)
(0.755)
(0.708)
(0.698)
(0.710)
(0.735)
(0.772)
(0.758)
(0.760)
(0.732)
(0.750)
(0.742)
(0.746)
(0.712)
(0.744)
(0.741)
Ln
6.866
6.877
6.852
6.827
6.806
6.820
6.811
6.759
6.595
6.564
6.578
6.551
6.505
6.477
6.450
6.421
6.396
6.378
NOE
(1.156)
(1.145)
(1.144)
(1.150)
(1.145)
(1.152)
(1.158)
(1.156)
(1.188)
(1.185)
(1.193)
(1.175)
(1.154)
(1.160)
(1.187)
(1.217)
(1.231)
(1.258)
9.383
8.560
7.602
7.218
7.780
7.903
7.664
5.652
5.958
7.948
8.076
8.135
9.882
10.851
14.277
(4.812)
(4.976)
(5.228)
(5.557)
(5.848)
(5.991)
(6.922)
(8.035)
(9.202)
(9.23)
(9.197)
(13.464
12.573
(4.664)
(10.500
)
(17.189)
(25.122)
216
216
216
216
216
216
216
216
216
216
216
216
216
216
216
216
Ln
EDU
INC
12.124
(16.765)
216
13.285
(23.274
)
216
Research Model
Basic statistics model
* = firm , * = year
*L= the number of labor, *Q=gross sales
*EDU= the level of education
* = firm , * = year
Research Model
*
*
= the value after taking a natural logarithm to the sales per person
= the value after taking a natural logarithm to the percentage of people who
completed middle school and high school out of all the people involved in
economical activity
= the value after taking a natural logarithm to capital intensity per person
= the value after taking a natural logarithm to capital intensity per person
. Study Results
Analysis of correlation
[Labor productivity HER(Higher Education Ratio)]
0.96**
373
1990
3,211
242,687
484,309
1991
3,583
263,915
531,404
1992
4,068
279,507
559,920
1993
4,487
290,365
586,850
1994
4,704
317,486
644,109
1995
5,025
352,854
736,868
1996
5,350
394,950
815,067
1997
5,520
474,145
880,504
1998
6,399
539,473
821,897
1999
6,679
572,381
909,222
2000
7,031
552,099
1,016,294
2001
7,431
556,407
1,032,935
2002
7,863
606,382
1,075,459
2003
8,927
582,117
1,050,310
2004
9,371
642,522
1,153,542
2005
9,848
657,241
1,178,319
2006
10,337
698,761
1,204,078
2007
10,867
730,776
1,267,300
Figure 1. The change of the rate of people with higher education among
economically active population and the average sales of companies by
year
Notes:
SPPP= the average sales
EDU= college graduates rate among economically active population
POLS
RE
LnEDU
0.710
(33.56)**
0.286
(12.51)**
0.672
(20.86)**
LnEEP
0.051
(11.83)**
0.043
(9.37)**
0.055
(12.44)**
LnFCP
0.486
(36.00)**
0.781
(85.30)**
0.515
(38.79)**
LnNOE
-0.008
(-0.53)
-0.036
(-5.91)
-0.042
(-3.79)**
INC
0.001
(3.90)**
0.002
(5.13)**
0.001
(4.01)**
Adj-R2
0.756
0.796
0.587
3888
Notes :
1. * : p < 0.05, ** : p< 0.01
2. The value in parenthesis is t.
3. variables:
LnEDU = the value taken natural logarithm into the number of economically active population
with more than college education
LnEEP = the value taken natural logarithm into the education fee per person
LnFCP = the value taken natural logarithm into capital intensity per person
LnNOE = the value taken natural logarithm into the number of workers
INC = incentive index
POLS
RE
LnEDU
0.429
(18.44)**
0.665
(23.93)**
0.440
(19.26)**
LnEEP
0.044
(9.76)**
0.030
(5.08)**
0.043
(9.63)**
LnFCP
0.297
(33.11)**
0.538
(53.88)**
0.309
(34.86)**
INC
0.002
(5.08)**
0.002
(4.10)**
0.002
(5.03)**
SSIZE
-0.433
(-12.40)**
-1.616
(-43.71)**
-0.514
(-14.95)**
MSIZE
-0.301
(-11.02)**
-1.166
(-37.85)**
-0.360
(-13.34)**
MLSIZE
-0.184
(-8.79)**
-0.804
(-29.37)**
-0.221
(-10.57)**
Adj-R2
0.573
0.665
0.586
3888
Notes :
1. * : p < 0.05, ** : p< 0.01
2. The value in parenthesis is t.
3. variables:
SSIZE= number of workers<350
MSIZE= 350<number of workers<690
MLSIZE= 690<number of workers<1320
LSIZE= number of workers>1320
divided by quartile of the number of workers
Suggestions
Need more support to HR Development
at the level of nation and company
Thank you