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Article: Imperfect information and labor market bias against small and medium-sized enterprises: a Korean case

TitleImperfect information and labor market bias against small and medium-sized enterprises: a Korean case
Authors
KeywordsTurnover intentions
Imperfect information
Korea
Labor shortage
Small and medium-sized enterprises
Issue Date2014
Citation
Small Business Economics, 2014, v. 43 n. 3, p. 725-741 How to Cite?
AbstractWe 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 Springer Science+Business Media New York.
Persistent Identifierhttp://hdl.handle.net/10722/202210
ISSN
2015 Impact Factor: 1.795
2015 SCImago Journal Rankings: 2.013
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorPark, Soonae-
dc.contributor.authorKim, Byungyeon-
dc.contributor.authorJang, Wonchang-
dc.contributor.authorNam, Kyungmin-
dc.date.accessioned2014-08-22T02:57:48Z-
dc.date.available2014-08-22T02:57:48Z-
dc.date.issued2014-
dc.identifier.citationSmall Business Economics, 2014, v. 43 n. 3, p. 725-741-
dc.identifier.issn0921-898X-
dc.identifier.urihttp://hdl.handle.net/10722/202210-
dc.description.abstractWe 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 Springer Science+Business Media New York.-
dc.languageeng-
dc.relation.ispartofSmall Business Economics-
dc.subjectTurnover intentions-
dc.subjectImperfect information-
dc.subjectKorea-
dc.subjectLabor shortage-
dc.subjectSmall and medium-sized enterprises-
dc.titleImperfect information and labor market bias against small and medium-sized enterprises: a Korean case-
dc.typeArticle-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1007/s11187-014-9571-7-
dc.identifier.scopuseid_2-s2.0-84896410468-
dc.identifier.hkuros239552-
dc.identifier.volume43-
dc.identifier.issue3-
dc.identifier.spage725-
dc.identifier.epage741-
dc.identifier.eissn1573-0913-
dc.identifier.isiWOS:000341926400012-

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