Using the job requirements approach and matched employer-employee data to investigate the content of individuals’ human capital

Journal for Labour Market Research

Table 5 Hedonic wage equations. Returns to Managers

	MODEL 1	MODEL 2	MODEL 3	MODEL 4	MODEL 5	MODEL 6	MODEL 7	MODEL 8	MODEL 9
Problem-solving	−0.027	−0.020	−0.019	−0.014					−0.008
Client communication	0.084***	0.066***	0.087***	0.069***					0.074***
High-level communication	0.084***	0.062***	0.046*	0.023					0.045*
Planning skills	−0.000	−0.007	−0.007	−0.012					0.005
Horizontal communication	0.008	0.023	−0.021	−0.003					0.021
Numeracy skills	0.060***	0.056***	0.050**	0.048**					0.037**
Technical know-how	0.057*	0.048	0.062**	0.058**					0.033
Literacy skills	−0.015	−0.015	−0.040	−0.048**					−0.059***
Computer use	−0.025	−0.010	−0.035	−0.018					0.019
Education level 2					0.152***	0.148***	0.107**	0.108**	0.105**
Education level 3					0.307***	0.299***	0.254***	0.254***	0.253***
Education level 4					0.454***	0.461***	0.390***	0.394***	0.394***
Experience					0.042***	0.040***	0.041***	0.039***	0.037***
Experience²					−0.000***	−0.000***	−0.000***	−0.000***	−0.000***
Tenure					0.008	0.012**	0.011**	0.015***	0.016***
Tenure²					−0.000	−0.000**	−0.000**	−0.000***	−0.000***
Training					−0.077**	−0.079***	−0.108***	−0.113***	−0.120***
MBA					0.191***	0.162***	0.173***	0.139***	0.125***
Individual level controls	No	Yes	No	Yes	No	Yes	No	Yes	Yes
Firm level controls	No	No	Yes	Yes	No	No	Yes	Yes	Yes
Constant	7.683***	7.805***	10.478***	10.461***	6.850***	6.965***	7.605***	7.729	7.594***
St. error of est./Log likelihood	−918.880	−905.191	−879.824	−863.527	−849.185	−830.464	−814.101	−795.262	−782.733
Chi²/Probability	31.03	60.11	107.88	128.63	186.19	226.41	249.38	298.54	334.48
McKelvey&Zavoina’s R²	0.033	0.057	0.114	0.137	0.184	0.205	0.232	0.252	0.271

N = 580
*denotes significant at 10 %; **denotes significant at 5 %; ***denotes significant at 1 %