Varieties of Capitalism and Investments in Human Capital

53 Pages Posted: 12 Feb 2008 Last revised: 16 Jan 2012

See all articles by Marc Goergen

Marc Goergen

IE Business School, IE University; European Corporate Governance Institute (ECGI)

Chris Brewster

Henley Management College - Human Resource Management

Geoffrey Wood

University of Sheffield - School of Management

Adrian J. Wilkinson

Griffith University

Multiple version iconThere are 2 versions of this paper

Date Written: 2007

Abstract

This paper uses a large-scale database to test the link between corporate governance regimes (specifically, the varieties of capitalism literature), investment in training and economic performance. The evidence presented here does not match with common assumptions that countries can be classified into Anglo-Saxon and other forms of capitalism, supporting a considerable body of the more empirically orientated literature on employment security and human resource development. We propose a new categorization of countries that links types of broad corporate governance regimes and associated sets of regulations with the relative propensity of firms to engage in specific types of investment towards a core stakeholder: employees.

Keywords: capitalist systems, corporate governance systems, employment practices

JEL Classification: G30, P10, J24, O15

Suggested Citation

Goergen, Marc and Brewster, Chris and Wood, Geoffrey and Wilkinson, Adrian J., Varieties of Capitalism and Investments in Human Capital (2007). ECGI - Finance Working Paper No. 188/2007 (revised), Available at SSRN: https://ssrn.com/abstract=1016363 or http://dx.doi.org/10.2139/ssrn.1016363

Marc Goergen (Contact Author)

IE Business School, IE University ( email )

Finance Department
Maria de Molina, 12
Madrid, 28006
Spain

HOME PAGE: http://www.ie.edu/business-school/faculty-and-research/faculty/marc-goergen/

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Chris Brewster

Henley Management College - Human Resource Management ( email )

Greenlands
Henley-on-Thames
Oxfordshire RG9 3AU, England
United Kingdom

Geoffrey Wood

University of Sheffield - School of Management ( email )

9 Mappin Street
Sheffield, S1 4DT
United Kingdom
0114 22 23346 (Phone)

Adrian J. Wilkinson

Griffith University ( email )

Business School
Nathan
Brisbane 4111, Queensland
Australia
61 (0)7 37356792 (Phone)

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