The Signaling Role of Promotions: Further Theory and Empirical Evidence
研究了晋升如何作为员工能力的信号，并考察了该信号作用如何随教育水平变化，利用一家金融服务业公司的内部劳动力市场数据验证了相关预测。
An extensive theoretical literature investigates the role of promotions as a signal of worker ability. We extend the theory by focusing on how the signaling role of promotion varies with education and then investigate the resulting predictions using a longitudinal data set that contains detailed information concerning the internal-labor-market history of a medium-sized firm in the financial services industry. Our results support signaling being important for understanding the differences between promotion practices concerning bachelor's and master's degree holders, while the evidence concerning the importance of signaling for high school graduates and PhDs is mixed.