Firm Location and the Creation and Utilization of Human Capital

  title={Firm Location and the Creation and Utilization of Human Capital},
  author={A. Almaz{\'a}n and Adolfo de Motta and S. Titman},
  journal={Organizations & Markets eJournal},
  • A. Almazán, Adolfo de Motta, S. Titman
  • Published 2003
  • Business, Economics
  • Organizations & Markets eJournal
  • This paper presents a theory of location choice that draws on insights from the incomplete contracts and investment flexibility (real option) literatures. We provide conditions under which human capital is more efficiently created and better utilized within industrial clusters that contain similar firms. Our analysis indicates that location choices are influenced by the extent to which training costs are borne by firms versus employees as well as by the uncertainty about future productivity… CONTINUE READING
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