{"id":"https://openalex.org/W7225413839","doi":"https://doi.org/10.70693/smr.v1i4.27","title":"Highly Educated Employees and Firm Productivity: Agency Cost and Innovation Efficiency Channels in Chinese Listed Firms","display_name":"Highly Educated Employees and Firm Productivity: Agency Cost and Innovation Efficiency Channels in Chinese Listed Firms","publication_year":2026,"publication_date":"2026-11-06","ids":{"openalex":"https://openalex.org/W7225413839","doi":"https://doi.org/10.70693/smr.v1i4.27"},"language":"en","primary_location":{"id":"doi:10.70693/smr.v1i4.27","doi":"https://doi.org/10.70693/smr.v1i4.27","is_oa":true,"landing_page_url":"https://doi.org/10.70693/smr.v1i4.27","pdf_url":"https://smrjournal.com/index.php/smr/article/download/27/13","source":{"id":"https://openalex.org/S5407056648","display_name":"Sustainable Management Review","issn_l":"3106-5805","issn":["3106-5805","3106-5813"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Sustainable Management Review","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://smrjournal.com/index.php/smr/article/download/27/13","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5161108639","display_name":"LIN LI","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I167274908","display_name":"Guangxi Minzu University","ror":"https://ror.org/0495efn48","country_code":"CN","type":"education","lineage":["https://openalex.org/I167274908"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"LIN LI","raw_affiliation_strings":["Guangxi Minzu University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Guangxi Minzu University","institution_ids":["https://openalex.org/I167274908"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5161108639"],"corresponding_institution_ids":["https://openalex.org/I167274908"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"1","issue":"4","first_page":"10","last_page":"15"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.7534000277519226,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.7534000277519226,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12851","display_name":"Firm Innovation and Growth","score":0.10949999839067459,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11849","display_name":"Intellectual Capital and Performance Analysis","score":0.05559999868273735,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/employee-education","display_name":"employee education","score":0.8519999980926514},{"id":"https://openalex.org/keywords/human-capital","display_name":"human capital","score":0.9110000133514404},{"id":"https://openalex.org/keywords/firm-productivity","display_name":"firm productivity","score":0.9860000014305115},{"id":"https://openalex.org/keywords/total-factor-productivity","display_name":"total factor productivity","score":0.8349999785423279},{"id":"https://openalex.org/keywords/agency-costs","display_name":"agency costs","score":0.7850000262260437},{"id":"https://openalex.org/keywords/innovation-efficiency","display_name":"innovation efficiency","score":0.9440000057220459},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.7789999842643738},{"id":"https://openalex.org/keywords/chinese-listed-companies","display_name":"Chinese listed companies","score":0.6190000176429749}],"concepts":[{"id":"https://openalex.org/C2780148112","wikidata":"https://www.wikidata.org/wiki/Q1432581","display_name":"Proxy (statistics)","level":2,"score":0.6944000124931335},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.6435999870300293},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.633400022983551},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.623199999332428},{"id":"https://openalex.org/C204983608","wikidata":"https://www.wikidata.org/wiki/Q2111958","display_name":"Productivity","level":2,"score":0.6133000254631042},{"id":"https://openalex.org/C36673458","wikidata":"https://www.wikidata.org/wiki/Q392896","display_name":"Agency cost","level":4,"score":0.5501000285148621},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.51910001039505},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.4611000120639801},{"id":"https://openalex.org/C179420905","wikidata":"https://www.wikidata.org/wiki/Q223871","display_name":"Mediation","level":2,"score":0.43320000171661377},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.40860000252723694},{"id":"https://openalex.org/C23032112","wikidata":"https://www.wikidata.org/wiki/Q1344727","display_name":"Enterprise value","level":2,"score":0.3917999863624573},{"id":"https://openalex.org/C108170787","wikidata":"https://www.wikidata.org/wiki/Q3951828","display_name":"Agency (philosophy)","level":2,"score":0.3765999972820282},{"id":"https://openalex.org/C127162648","wikidata":"https://www.wikidata.org/wiki/Q16858953","display_name":"Channel (broadcasting)","level":2,"score":0.3718000054359436},{"id":"https://openalex.org/C202552767","wikidata":"https://www.wikidata.org/wiki/Q1901350","display_name":"Market value","level":2,"score":0.3650999963283539},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.35510000586509705},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.3528999984264374},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3319999873638153},{"id":"https://openalex.org/C107645774","wikidata":"https://www.wikidata.org/wiki/Q5467169","display_name":"Human resources","level":2,"score":0.32670000195503235},{"id":"https://openalex.org/C120009192","wikidata":"https://www.wikidata.org/wiki/Q1936153","display_name":"Total factor productivity","level":3,"score":0.32510000467300415},{"id":"https://openalex.org/C148609458","wikidata":"https://www.wikidata.org/wiki/Q7021281","display_name":"Nexus (standard)","level":2,"score":0.3172000050544739},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.31349998712539673},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.29989999532699585},{"id":"https://openalex.org/C4249254","wikidata":"https://www.wikidata.org/wiki/Q3044431","display_name":"Demographic economics","level":1,"score":0.27810001373291016},{"id":"https://openalex.org/C2780888560","wikidata":"https://www.wikidata.org/wiki/Q9852","display_name":"R&D intensity","level":2,"score":0.27480000257492065},{"id":"https://openalex.org/C2993311118","wikidata":"https://www.wikidata.org/wiki/Q51379","display_name":"Positive relationship","level":2,"score":0.2734000086784363},{"id":"https://openalex.org/C610760","wikidata":"https://www.wikidata.org/wiki/Q1340706","display_name":"Endogeneity","level":2,"score":0.27059999108314514},{"id":"https://openalex.org/C17923572","wikidata":"https://www.wikidata.org/wiki/Q7250160","display_name":"Propensity score matching","level":2,"score":0.2630000114440918},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2590999901294708},{"id":"https://openalex.org/C2779093199","wikidata":"https://www.wikidata.org/wiki/Q338010","display_name":"Shareholder value","level":4,"score":0.25760000944137573},{"id":"https://openalex.org/C200707436","wikidata":"https://www.wikidata.org/wiki/Q1053211","display_name":"Principal\u2013agent problem","level":3,"score":0.25519999861717224},{"id":"https://openalex.org/C142853389","wikidata":"https://www.wikidata.org/wiki/Q744778","display_name":"Association (psychology)","level":2,"score":0.2538999915122986}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.70693/smr.v1i4.27","doi":"https://doi.org/10.70693/smr.v1i4.27","is_oa":true,"landing_page_url":"https://doi.org/10.70693/smr.v1i4.27","pdf_url":"https://smrjournal.com/index.php/smr/article/download/27/13","source":{"id":"https://openalex.org/S5407056648","display_name":"Sustainable Management Review","issn_l":"3106-5805","issn":["3106-5805","3106-5813"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Sustainable Management Review","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.70693/smr.v1i4.27","doi":"https://doi.org/10.70693/smr.v1i4.27","is_oa":true,"landing_page_url":"https://doi.org/10.70693/smr.v1i4.27","pdf_url":"https://smrjournal.com/index.php/smr/article/download/27/13","source":{"id":"https://openalex.org/S5407056648","display_name":"Sustainable Management Review","issn_l":"3106-5805","issn":["3106-5805","3106-5813"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Sustainable Management Review","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.9211000204086304,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7225413839.pdf","grobid_xml":"https://content.openalex.org/works/W7225413839.grobid-xml"},"referenced_works_count":4,"referenced_works":["https://openalex.org/W1533695912","https://openalex.org/W2094265209","https://openalex.org/W2125918728","https://openalex.org/W4288063255"],"related_works":["https://openalex.org/W2059269875","https://openalex.org/W7225204457","https://openalex.org/W4392582435","https://openalex.org/W4210775755","https://openalex.org/W4384406671","https://openalex.org/W4388990342","https://openalex.org/W2547254789","https://openalex.org/W2068791046","https://openalex.org/W2590954226","https://openalex.org/W4386037448"],"abstract_inverted_index":{"This":[0],"study":[1],"examines":[2],"the":[3,14,39,55,103,109,127,139,151,176,183,191],"association":[4,20],"between":[5,113],"education-based":[6],"human":[7,36],"capital":[8,37],"and":[9,12,49,61,85,105,115,129,167,172],"firm":[10,77],"productivity":[11,53,152],"investigates":[13],"organizational":[15],"channels":[16],"through":[17],"which":[18],"that":[19,66,82,126,150],"operates.":[21],"Using":[22],"an":[23],"unbalanced":[24],"panel":[25],"of":[26,41,70,154],"Chinese":[27],"listed":[28],"firms":[29],"from":[30],"2007":[31],"to":[32,163],"2023,":[33],"we":[34],"measure":[35],"as":[38],"share":[40,69],"employees":[42,72,157],"holding":[43],"a":[44,67,119,160],"master's":[45],"degree":[46],"or":[47],"above":[48],"estimate":[50],"total":[51],"factor":[52],"with":[54,59,76,89],"Olley-Pakes":[56],"method.":[57],"Regressions":[58],"industry":[60],"year":[62],"fixed":[63],"effects":[64],"show":[65,149],"larger":[68],"postgraduate-educated":[71],"is":[73,100,132,142],"positively":[74],"associated":[75],"productivity.":[78],"Mediation":[79],"tests":[80],"indicate":[81],"internal":[83],"governance":[84,128,170],"operating":[86,130],"measures,":[87],"together":[88],"patent-based":[90],"innovation":[91,140],"efficiency,":[92],"partly":[93],"transmit":[94],"this":[95],"association.":[96],"The":[97,147],"invention-patent":[98],"channel":[99,131,141],"stronger":[101,143],"than":[102],"utility-model":[104],"design-patent":[106],"channel,":[107],"whereas":[108],"proxy":[110],"for":[111],"conflicts":[112],"controlling":[114],"minority":[116],"shareholders":[117],"has":[118],"negative":[120],"indirect":[121],"effect.":[122],"Industry-level":[123],"analyses":[124],"suggest":[125],"more":[133],"pronounced":[134],"in":[135,144],"secondary":[136],"industries,":[137],"while":[138],"tertiary":[145],"industries.":[146],"results":[148],"value":[153],"highly":[155],"educated":[156],"depends":[158],"on":[159],"firm's":[161],"ability":[162],"incorporate":[164],"their":[165],"knowledge":[166],"skills":[168],"into":[169],"arrangements":[171],"substantive":[173],"innovation.":[174],"Because":[175],"research":[177],"design":[178],"primarily":[179],"identifies":[180],"conditional":[181],"associations,":[182],"analysis":[184],"does":[185],"not":[186],"make":[187],"causal":[188],"claims":[189],"beyond":[190],"evidence.":[192]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2026-11-07T00:00:00"}
