Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case
We examine the labor market’s bias against small and medium-sized enterprises focusing on the Seoul Digital Industrial Complex case. We adopt Heckman’s approach to control selection bias, and use primary data from questionnaire surveys conducted at both firm and employee levels. We find that convent...
| Main Authors: | , , , |
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| Other Authors: | |
| Format: | Article |
| Language: | en_US |
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Springer-Verlag
2014
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| Online Access: | http://hdl.handle.net/1721.1/86415 https://orcid.org/0000-0002-4579-4815 |
| _version_ | 1811068633065979904 |
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| author | Park, Soonae Kim, Byung-Yeon Jang, Wonchang Nam, Kyung-min |
| author2 | Massachusetts Institute of Technology. Joint Program on the Science & Policy of Global Change |
| author_facet | Massachusetts Institute of Technology. Joint Program on the Science & Policy of Global Change Park, Soonae Kim, Byung-Yeon Jang, Wonchang Nam, Kyung-min |
| author_sort | Park, Soonae |
| collection | MIT |
| description | We examine the labor market’s bias against small and medium-sized enterprises focusing on the Seoul Digital Industrial Complex case. We adopt Heckman’s approach to control selection bias, and use primary data from questionnaire surveys conducted at both firm and employee levels. We find that conventional firm-specific factors, such as wages, fringe benefits, and weekly work hours, primarily explain the labor market bias, but imperfect information is also positively associated with the bias. For example, a firm’s inadequate ability to identify a pool of potential employee candidates or to provide them comprehensive firm- or job-specific information tends to worsen labor shortages, and an employee’s ex-ante incomplete knowledge of on-the-job training or education opportunities tends to increase ex-post turnover intentions. Our results suggest that reducing the market bias requires improving imperfect information as well as conventional firm-specific conditions. |
| first_indexed | 2024-09-23T07:58:50Z |
| format | Article |
| id | mit-1721.1/86415 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T07:58:50Z |
| publishDate | 2014 |
| publisher | Springer-Verlag |
| record_format | dspace |
| spelling | mit-1721.1/864152022-10-25T05:45:58Z Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case Park, Soonae Kim, Byung-Yeon Jang, Wonchang Nam, Kyung-min Massachusetts Institute of Technology. Joint Program on the Science & Policy of Global Change MIT Energy Initiative Nam, Kyung-Min Nam, Kyung-min We examine the labor market’s bias against small and medium-sized enterprises focusing on the Seoul Digital Industrial Complex case. We adopt Heckman’s approach to control selection bias, and use primary data from questionnaire surveys conducted at both firm and employee levels. We find that conventional firm-specific factors, such as wages, fringe benefits, and weekly work hours, primarily explain the labor market bias, but imperfect information is also positively associated with the bias. For example, a firm’s inadequate ability to identify a pool of potential employee candidates or to provide them comprehensive firm- or job-specific information tends to worsen labor shortages, and an employee’s ex-ante incomplete knowledge of on-the-job training or education opportunities tends to increase ex-post turnover intentions. Our results suggest that reducing the market bias requires improving imperfect information as well as conventional firm-specific conditions. 2014-05-05T18:51:49Z 2014-05-05T18:51:49Z 2014-03 2014-02 Article http://purl.org/eprint/type/JournalArticle 0921-898X 1573-0913 http://hdl.handle.net/1721.1/86415 Park, Soonae, Byung-Yeon Kim, Wonchang Jang, and Kyung-Min Nam. “Imperfect Information and Labor Market Bias Against Small and Medium-Sized Enterprises: a Korean Case.” Small Business Economics (March 20, 2014). https://orcid.org/0000-0002-4579-4815 en_US http://dx.doi.org/10.1007/s11187-014-9571-7 Small Business Economics Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. application/pdf Springer-Verlag Nam |
| spellingShingle | Park, Soonae Kim, Byung-Yeon Jang, Wonchang Nam, Kyung-min Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case |
| title | Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case |
| title_full | Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case |
| title_fullStr | Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case |
| title_full_unstemmed | Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case |
| title_short | Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case |
| title_sort | imperfect information and labor market bias against small and medium sized enterprises a korean case |
| url | http://hdl.handle.net/1721.1/86415 https://orcid.org/0000-0002-4579-4815 |
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