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The sale of relational capital through tenure profiles and tournaments [electronic resource] / Paul Frijters
Bib ID 6100692
Format BookBook, OnlineOnline
Author
Frijters, Paul
 
Online Access
Online Versions
Description Brisbane, Qld. : School of Economics, University of Queensland, 1998 
Series

Discussion paper (University of Queensland. School of Economics : Online) ; 443. 1833-1068

PANDORA electronic collection.

Technical Details

Mode of access: Online. Address as at 17/09/2012: http://www.uq.edu.au/economics/443-the-sale-of-relational-capital-through-tenure-profiles-and-tournaments 

System requirements: Adobe Acrobat reader to read PDF file. 

Summary

In this paper, a specific form of human capital is analyzed, relational capital, which consists of matches between market parties. Search and information costs make these matches valuable to both parties. Its peculiarity is that the control over such matches is transferred within firms from those who initially control it to anyone who works with it for a period. This characteristic allows someone who approaches the end of his working life to sell his relational capital to junior partners. This sale can explain upward sloping tenure profiles and can result in tournaments if juniors are budget constrained and perfect contracting is not possible. The need to keep the amount of relational capital constant implies a generation balanced workforce within each firm.

Notes

Title from title screen (viewed on Sept. 17, 2012)

Includes bibliographical references (p. 14-15)

Text and graphics.

Selected for archiving

Subjects Human capital -- Econometric models.  |  Australian
Other authors/contributors University of Queensland. School of Economics

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