Identifying the Influential Investment Factors of Education and Training Cost and Time in Small and Medium-sized Manufacturing Firms
Kye Won Choi, Young-Min Lee · 2022
The purpose of this study is to identify influential investment factors in education and training of the small and medium sized manufacturing firms are influenced and seek solution to activate the education and training accordingly as their investment in education and training has declined these days in S. Korea. For empirical review, the panel data regression analysis was implemented with 6th to 8th year panel survey on the enterprises. Index in the enterprises’ investment in the education and training were set as total cost for the education and training per employee except compulsory education as well as annual average time for the education and training per employee. Research findings were as follows. First, total cost for the education and training per employee was influenced by business scale, personnel expense per employee, labor union, weekly working hours, whether the job analysis was conducted, level of internal training if necessary, and estimation of cost for the education and training in advance. Second, it turned out that annual average time for the education and training per employee was influenced by business scale, whether the job analysis was conducted, program for outstanding employees, and vacation policy for the education and training.