Abstract

YANEZ CONTRERAS, Martha  and  ACEVEDO GONZALEZ, Karina. Training Return-on-Investment in the small enterprise in Cartagena. estud.gerenc. [online]. 2013, vol.29, n.128, pp.284-292. ISSN 0123-5923.

On the job training is a crucial factor in terms of productivity and labor efficiency. This article presents the results of calculating the return-on-investment in training in small industries in Cartagena. The proposed methodology is the estimation of a Cobb Douglas function, a wages function and a costs function, functions estimated through fixed effects regressions with instrumental variables implemented with a system-Generalized Method of Moments estimator. The results show that an increase of 10% in the hours of training, lead to an increase of 4.5% in the productivity, but does not have an impact on wages. The return rate obtained is roughly of 6.2%, with a depreciation rate of 17%.

Keywords : Training; Generalized Method of Moments; Training return-on-investment; Instrumental variables.

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