TY  - BOOK
AU  - Weiss,Christoph
AU  - Brunello,Giorgio
AU  - European Investment Bank
AU  - Gereben,Áron
AU  - Wruuck,Patricia
TI  - EIB Working Paper 2020/05 - Financing constraints and employers' investment in training
T2  - EIB Working Papers
SN  - 9789286146756
PB  - European Investment Bank
KW  - Business & Economics / Finance
KW  - bisacsh
KW  - Economics
KW  - Electronic books
N1  - Access copy available to the general public
N2  - Using a representative sample of European firms, this paper studies whether and to what extent financing constraints affect employers' decisions to invest in employee training. It combines survey data on investment activities with administrative data on financial statements to develop an index of financing constraints. It estimates that a 10 percent increase in this index reduces investment in training as a share of fixed assets by 2.9 to 4.5 percent and investment in training per employee by 1.8 to 2.5 percent. The paper documents that lower investment in training reduces productivity, and show that firms facing tighter financing constraints cut back the investment in training and tangible assets less than investment in R&D and software and data
UR  - https://openresearchlibrary.org/content/6a1d5a0d-802c-41df-b0c0-ddff2015d910
ER  -