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Asian Review of Financial Research, Vol., No..
pp.326~410
pp.326~410
Contingent Employment and Innovation
Sunwoo Hwang Korea University Business School.
Using novel indirect employment data and a Supreme Court ruling against subcontracted employment, I show that the contingent employment of skilled labor reduces innovation. Following the ruling, establishments with a higher reliance on subcontracted workers innovate more compared to those with a lesser reliance. This ?nding is conditional on compensation schemes rewarding employees for their investment in ?rm-speci?c skills and long-term performance, stems from collaborations with existing inventor employees, and does not coincide with increases in operating leverage, R&D, or capital intensity.
Sunwoo Hwang
Using novel indirect employment data and a Supreme Court ruling against subcontracted employment, I show that the contingent employment of skilled labor reduces innovation. Following the ruling, establishments with a higher reliance on subcontracted workers innovate more compared to those with a lesser reliance. This ?nding is conditional on compensation schemes rewarding employees for their investment in ?rm-speci?c skills and long-term performance, stems from collaborations with existing inventor employees, and does not coincide with increases in operating leverage, R&D, or capital intensity.
contingent employment,labor,innovation,incentive,human capital
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