ЕCONOMICS OF CONTINUING EDUCATION: THEORETICAL PARADIGMS AND EMPIRICAL EVIDENCE

Abstract

This study aims at presenting the theoretical background as well as main empirical findings of recent papers regarding buisness investments in continuing education and training. The output indicates that the two underlining theories - human capital theory and institutional theory- complement each other in explaining those investments. On the emprical side, the inside firm-related determinants such as learning culture, human resource development practices, employees’ voice, and management’s short-termism are most important. However, the role of outside environment including regional development and institutional support has been increasing recently.