The Effect of Managerial Bias on Employees' Specific Human Capital Investments
研究挑战了管理者承诺升级有害的传统观点，认为在风险项目中，管理者的承诺升级倾向可作为承诺机制，降低项目终止概率，从而激励员工进行专用性人力资本投资。
abstract Contrary to the conventional belief that escalation of commitment by managers is detrimental, this study argues for its potential benefits. While firm‐specific human capital is considered a critical element of knowledge‐based resources that have the potential for superior firm performance, factors affecting the incentives for employees to make such investments are often overlooked. In the case of firms taking on risky projects, fear of project termination often reduces employees' incentives to make specific human capital investments. We argue that in this situation, the firms may find it desirable to commit to a lower probability of project termination in order to encourage the development of specific human capital by employees. Managers' escalation of commitment tendency may function as such a commitment mechanism. We find support for the key argument from the results of two experimental studies.