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024 8 $ahttps://doi.org/10.2867/509592
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181   $ctxt$2rdacontent
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200 00$aEIB Working Paper 2020/05 - Financing constraints and employers' investment in training$fChristoph Weiss, Giorgio Brunello, European Investment Bank, A?ron Gereben, Patricia Wruuck$hVolume 2020/5
210  1$aLuxembourg :$cEuropean Investment Bank,$d2020.
215   $a1 online resource (1 p.)
225 1 $aEIB Working Papers
330   $aUsing 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.
410   $aEIB Working Papers
606   $aBusiness & Economics / Finance$2bisacsh
606   $aEconomics
615  7$aBusiness & Economics / Finance
615  0$aEconomics
700   $aWeiss$b Christoph$0220910
702   $aBrunello$b Giorgio
702   $aGereben$b A?ron
702   $aWruuck$b Patricia
712 02$aEuropean Investment Bank
801  0$bScCtBLL
801  1$bScCtBLL
906   $aBOOK
912   $a9910645986603321
996   $aEIB Working Paper 2020$93007935
997   $aUNINA