Updated on 2024/10/03

Information

 

写真a

 
XIE JUN
 
Organization
Urban Insitute Assistant Professor
Title
Assistant Professor
External link

Papers

  • The role of female managers in enhancing employee well-being: a path through workplace resources Reviewed

    Jun Xie, Xiangdan Piao, Shunsuke Managi

    Gender in Management: An International Journal   2024.8   ISSN:1754-2413 eISSN:1754-2421

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    Authorship:Lead author   Language:English   Publishing type:Research paper (scientific journal)   Publisher:Gender in Management  

    <jats:sec>
    <jats:title content-type="abstract-subheading">Purpose</jats:title>
    <jats:p>Following the job demands-resources theory, this study aims to investigate the role of female managers in enhancing employee well-being in terms of psychological health via workplace resources.</jats:p>
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    <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title>
    <jats:p>Based on a large-scale job stress survey of approximately 96,000 employee-year observations ranging from 2017 to 2019, this study applies structural equation modeling to construct latent workplace resources at the task, group and worksite levels and then examines the impact of female managers on employee well-being, including occupational stress, job satisfaction, work engagement and workplace cohesiveness.</jats:p>
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    <jats:title content-type="abstract-subheading">Findings</jats:title>
    <jats:p>The findings provide supporting evidence for the transformational leadership behaviors of female managers. The presence of women in management is associated with improved workplace resources and employee well-being, particularly workplace cohesiveness, work engagement and reduced occupational stress. These relationships are significantly mediated by workplace resources, which elucidates the underlying mechanisms involved. Notably, the positive indirect effects via workplace resources could counteract the negative direct effects of female managers. Compared with top managers, female middle managers have more substantial impacts.</jats:p>
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    <jats:title content-type="abstract-subheading">Practical implications</jats:title>
    <jats:p>In practice, it is recommended to promote female representation at the management level and strengthen policies that support female middle managers to ensure favorable effects on workplace resources. In a gender-diverse management team, it is important to share female managers’ experiences in improving employee psychological well-being.</jats:p>
    </jats:sec>
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    <jats:title content-type="abstract-subheading">Originality/value</jats:title>
    <jats:p>This study provides new empirical evidence to support the transformational leadership behaviors of female managers and elucidates the mechanism of female managers’ influence on employee well-being by introducing workplace resources as mediators.</jats:p>
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    DOI: 10.1108/GM-09-2023-0307

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  • How corporate climate change mitigation actions affect the cost of capital Reviewed

    Yizhou Wang, Siyu Shen, Jun Xie, Hidemichi Fujii, Alexander Ryota Keeley, Shunsuke Managi

    Corporate Social Responsibility and Environmental Management   2024.5   ISSN:1535-3958 eISSN:1535-3966

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    Publishing type:Research paper (scientific journal)   Publisher:Wiley  

    Abstract

    Japan has been at the forefront of global efforts to accelerate climate change mitigation. Japanese firms have led in the development of decarbonization technologies and have positively disclosed climate change‐related information based on the Task Force on Climate‐related Financial Disclosures recommendations to address climate change. We explore the relationship between corporate climate change mitigation actions and the cost of capital for 2100 Japanese listed companies from 2017 to 2021. The results reveal that a higher carbon intensity correlates with an increased cost of equity, debt, and weighted average cost of capital. Interestingly, although climate‐related information disclosure is associated with an increased cost of debt, it concurrently lowers the cost of equity and overall capital. This research recommends strategic approaches for firms to reduce their costs of capital while proactively combating climate change, highlighting the divergent responses of equity and bond markets to decarbonization initiatives.

    DOI: 10.1002/csr.2853

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  • Do local government sustainability initiatives impact corporate social sustainability practices? Reviewed

    Atsuhiro Ida, Kenichi Yoshida, Jun Xie, Yoshitaka Tanaka, Shunsuke Managi

    Business Strategy and the Environment   2024.4   ISSN:0964-4733 eISSN:1099-0836

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    Publishing type:Research paper (scientific journal)   Publisher:Wiley  

    Abstract

    This study quantifies the initiatives of local governments' Sustainable Development Goals (SDGs) and examines their impacts on regional corporate social sustainability practices. Our analysis reveals statistically significant results for corporate action on the following government initiatives on SDGs: BOD/COD effluent standard (6. clean water and sanitation and 14. life below water); number of students per personal computer (PC) (4. quality education); percent of female prefectural assembly members (5. gender equality and 16. peace, justice, and strong institutions); and minimum wage (1. no poverty and 2. zero hunger). These results are robust after controlling for peer effects by other firms in the surrounding regions. The evidence also indicates that these trends are more pronounced in footloose industries than in heavy industries.

    DOI: 10.1002/bse.3780

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  • Do investors incorporate financial materiality? Remapping the environmental information in corporate sustainability reporting Reviewed

    Jun Xie, Yoshitaka Tanaka, Alexander Ryota Keeley, Hidemichi Fujii, Shunsuke Managi

    Corporate Social Responsibility and Environmental Management   30 ( 6 )   2924 - 2952   2023.11   ISSN:1535-3958 eISSN:1535-3966

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    Authorship:Lead author   Language:English   Publishing type:Research paper (scientific journal)   Publisher:Wiley  

    Although the consideration of financial materiality is important for securing shareholders' interests, the degree of financial materiality that is considered for existing sustainability ratings is still questionable. In this study, we hand-mapped the financial materiality of environmental information based on Sustainability Accounting Standards Board (SASB) industry-specific accounting metrics to reassess environmental performance. Based on the SASB-based environmental score, we tested whether investors price environmental risk. The results show significant pricing anomalies related to environmental risk. Companies with lower SASB-based environmental scores experience higher environmental risk. Additionally, a premium in the cross-section of stock returns compensates for this risk. Our findings suggest that integrating financial materiality based on the SASB could be an effective way to capture corporate environmental risk.

    DOI: 10.1002/csr.2524

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  • Lessons on the COVID-19 pandemic: who are the most affected Reviewed

    Jun Xie, Xiangdan Piao, Shunsuke Managi

    Scientific Reports   13 ( 1 )   9365   2023.6   ISSN:2045-2322 eISSN:2045-2322

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    Authorship:Lead author   Language:English   Publishing type:Research paper (scientific journal)   Publisher:Springer Science and Business Media {LLC}  

    <jats:title>Abstract</jats:title><jats:p>The COVID-19 pandemic has led to significant changes in work and lifestyle, impacting occupational mental health. This study examines the time and individual heterogeneity in the pandemic's effects on occupational mental health using panel data from job stress checks spanning 2018 to 2021. On average, there was an initial alleviation of high-stress risk in 2020, followed by a deterioration in 2021. Based on the job demand-resource theory, we identify the group of employees most affected by the pandemic. The findings highlight that employees in unfavorable workplace conditions are more likely to experience substantial adverse impacts. Adequate workplace support, including factors like interpersonal relationships, managerial support, job meaning, control, and work-life balance, is crucial for mitigating high-stress risk. Additionally, during the early phase of the pandemic, engaged employees experienced a slight decline in occupational mental health, while those lacking job resources at their worksite faced higher levels of occupational stress in the subsequent year. These findings offer practical suggestions for person-centered coping strategies to mitigate the pandemic's adverse impact.</jats:p>

    DOI: 10.1038/s41598-023-36493-7

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  • The nexus of top executives’ attributes, firm strategies, and outcomes: Large firms versus SMEs Reviewed

    Jun Xie, Wataru Nozawa, Shunsuke Managi

    Humanities and Social Sciences Communications   10 ( 1 )   2023.3   ISSN:2662-9992 eISSN:2662-9992

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    Authorship:Lead author   Language:English   Publishing type:Research paper (scientific journal)   Publisher:Springer Science and Business Media {LLC}  

    <jats:title>Abstract</jats:title><jats:p>Based on a unique and extensive dataset of top executives, this study explores the effect of top executives’ attributes on firm performance through strategic choices for capital structure and investments. The big five personalities and top executives’ other four essential personal attributes are identified from over 970,000 observations in Japanese firms. We applied structural equational modeling to test the hypothesized mediation models and the differences across large, medium, and small-sized firms. The results show that top executives in small and medium-sized enterprises (SMEs) present stronger linkages with strategic choices, significantly mediating the relationship between top executives’ attributes and firm performance. Specifically, top executives with higher <jats:italic>conscientiousness</jats:italic>, <jats:italic>decisiveness</jats:italic>, and <jats:italic>financial prudence</jats:italic> tend to choose conservative strategies, while those with higher <jats:italic>neuroticism, openness</jats:italic>, and <jats:italic>agreeableness</jats:italic> tend to adopt risky and innovative strategies. In contrast, top executives’ attributes can hardly predict firm strategies and outcomes for large firms, and neither fails to predict firm outcomes in SMEs given the inconsistent mediation.</jats:p>

    DOI: 10.1057/s41599-023-01628-8

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  • ESG metrics and social equity: Investigating commensurability Reviewed

    Alexander R. Keeley, Andrew J. Chapman, Kenichi Yoshida, Jun Xie, Janaki Imbulana, Shutaro Takeda, Shunsuke Managi

    Frontiers in Sustainability   3   2022.9   ISSN:2673-4524 eISSN:2673-4524

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    Publishing type:Research paper (scientific journal)   Publisher:Frontiers Media {SA}  

    <jats:p>During the past two decades, the world has seen exponential growth in the number of companies reporting environmental, social, and governance (ESG) data, and various ESG metrics have been proposed and are now in use. ESG metrics play a crucial role as an enabler of investment strategies that consider ESG factors, which are often referred to as “ESG investments”. The ESG metrics and investment market are evolving rapidly, as investors, corporations, and the public are giving more priority to the “S” in ESG, including social equity issues, such as diversity, income inequality, worker safety, systemic racism, and companies' broader role in society. In this critical, systematic review, utilizing in-depth assessments, we investigate and compare the approaches employed in major ESG metrics and studies, then, we shed light on the “S” aspect by reviewing existing approaches used to assess social equity to clarify commensurability with ESG. Through the systematic review, this paper confirms that ESG investments can be expected to provide stable and high returns especially over the long term. This paper also clarifies how elements considered in social equity studies are largely reflected in major ESG metrics.</jats:p>

    DOI: 10.3389/frsus.2022.920955

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  • Occupational stress: evidence from industries affected by COVID-19 in Japan Reviewed

    Xiangdan Piao, Jun Xie, Shunsuke Managi

    BMC Public Health   22 ( 1 )   1005   2022.5   ISSN:1471-2458 eISSN:1471-2458

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Springer Science and Business Media {LLC}  

    <jats:title>Abstract</jats:title><jats:sec>
    <jats:title>Background</jats:title>
    <jats:p>This study provides objective evidence on the impact of COVID-19 based on employee occupational stress reported from 13 different industries, and examines the determinants of employee psychological well-being. As the economic and social impacts of the COVID-19 pandemic continue, governments should consider industry-level differences when making support decisions concerning public resource allocation to corporations. However, little evidence exists regarding the differences in occupational stress across industries.</jats:p>
    </jats:sec><jats:sec>
    <jats:title>Methods</jats:title>
    <jats:p>Employee occupational stress data (<jats:italic>N</jats:italic> = 673,071) was derived from workers in Japan from 2018 to 2020. The sample comprises workers from 13 industries, including civil services, service industry (other), real estate, medical/welfare, wholesale/retail, academic research, and accommodation/restaurant business. A logit model is employed to investigate the differences in employees’ psychological well-being before and during the pandemic.</jats:p>
    </jats:sec><jats:sec>
    <jats:title>Results</jats:title>
    <jats:p>In 2020, 11 out of 12 industries had significantly worse occupational stress compared to employees engaged in civil services. Over 23% of employees from the wholesale/retail and accommodation/restaurant industries were observed as high-stress employees. Improved compensation policies supporting these industries are suggested. In contrast, reduced occupational stress was found among employees in the transportation/postal and information/communication industries. Among the 13 industries, aside from high job demands, tough inter-person relationships in the workplace became the most significant stressors during the pandemic.</jats:p>
    </jats:sec><jats:sec>
    <jats:title>Conclusions</jats:title>
    <jats:p>The results confirm that the pandemic has had a heterogeneous effect on employee occupational stress across industries, thus suggesting that the level of compensation given to different industries during the COVID-19 pandemic should be discussed and approved by the Japanese government. Additionally, support for the wholesale/retail and accommodation/restaurant industries during the pandemic should be improved.</jats:p>
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    DOI: 10.1186/s12889-022-13257-y

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  • Environmental, social, and corporate governance activities with employee psychological well-being improvement Reviewed

    Xiangdan Piao, Jun Xie, Shunsuke Managi

    BMC Public Health   22 ( 1 )   22   2022.1   ISSN:1471-2458 eISSN:1471-2458

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    Language:English   Publishing type:Research paper (scientific journal)   Publisher:Springer Science and Business Media {LLC}  

    <jats:title>Abstract</jats:title><jats:sec>
    <jats:title>Background</jats:title>
    <jats:p>Environmental, social, and governance (ESG) engagement is expected to benefit corporations in terms of their efficiency and sustainability. The transformative change in management practices would not only provide support for employees but also bring about additional workload, which may affect employee psychological well-being. However, the examination of the relationship between corporate ESG activities and occupational stress is scarce; hence, this study aims to fill this knowledge gap.</jats:p>
    </jats:sec><jats:sec>
    <jats:title>Methods</jats:title>
    <jats:p>In total, 110,351 observations were collected from 41,998 employees regarding occupational stress to reflect employee psychological well-being. The data were derived from 11 corporations in Japan from 2017 to 2019. Data on ESG activities were collected from the MSCI ESG database from 2015 to 2017. The effect of 1-year lagged corporate ESG activities on employee psychological well-being was investigated using a lagged variable linear regression model.</jats:p>
    </jats:sec><jats:sec>
    <jats:title>Results</jats:title>
    <jats:p>Positive and negative relationships were found between corporate environmental activities and occupational stress. Activities that reduce water stress during operation and adopt clean technology were found to benefit employees’ psychological well-being. On the contrary, the program for reducing toxic emissions and waste lowered employees’ occupational stress levels significantly. Regarding corporate social activities, the improvement of job satisfaction or work-life balance was associated with occupational stress. However, corporate governance activities were found to have unfavorable effects on employees’ psychological well-being.</jats:p>
    </jats:sec><jats:sec>
    <jats:title>Conclusion</jats:title>
    <jats:p>The effects of corporate ESG activities on employees’ psychological well-being are found. The managerial implications suggest that caring for employees’ occupational stress during the implementation of environmental activities is necessary, and the adoption of social activities could enhance employees’ psychological well-being. Notably, corporate governance activities are a stressor for employees; top management teams should pay attention to it.</jats:p>
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    DOI: 10.1186/s12889-021-12350-y

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  • The role of women on boards in corporate environmental strategy and financial performance: A global outlook Reviewed

    Xie, J., Nozawa, W., Managi, S.

    Corporate Social Responsibility and Environmental Management   27 ( 5 )   2044 - 2059   2020   ISSN:1535-3966

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    DOI: 10.1002/csr.1945

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  • Do environmental, social, and governance activities improve corporate financial performance? Reviewed

    Jun Xie, Wataru Nozawa, Michiyuki Yagi, Hidemichi Fujii, Shunsuke Managi

    Business Strategy and the Environment   28 ( 2 )   286 - 300   2019.2   ISSN:1099-0836 eISSN:1099-0836

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    Authorship:Lead author   Publishing type:Research paper (scientific journal)   Publisher:Wiley  

    Abstract

    This study investigated the relationship between corporate efficiency and corporate sustainability to determine whether firms concerned about environmental, social, and governance (ESG) issues can also be efficient and profitable. We applied data envelopment analysis to estimate corporate efficiency and investigated the nonlinear relationship between corporate efficiency and ESG disclosure. Evidence shows that corporate transparency regarding ESG information has a positive association with corporate efficiency at the moderate disclosure level, rather than at the high or low disclosure level. Governance information disclosure has the strongest positive linkage with corporate efficiency, followed by social and environmental information disclosure. Moreover, we explored the relationship between particular ESG activities and corporate financial performance (CFP), including corporate efficiency, return on assets, and market value. We found that most of the ESG activities reveal a nonnegative relationship with CFP. These findings may provide evidence about voluntary corporate social responsibility strategy choices for enhancing corporate sustainability.

    DOI: 10.1002/bse.2224

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Presentations

  • Female managers and employee well-being: Test of the mediating effects of workplace resources

    Jun XIE, Xiangdan PIAO, Shunsuke MANAGI

    the 20th International Conference of the Japan Economic Policy Association  2021.11 

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  • Board Composition, Corporate Environmental Policy and Corporate Financial Performance

    Jun XIE, Wataru NOZAWA, Shunsuke MANAGI

    WEAI  2019.3 

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  • The Dynamics of ESG Performance in Global Supply Chains: A Multilevel Approach

    Jun Xie

    the Society for Environmental Economics and Policy Studies  2024.9 

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  • Remapping the financial materiality of environmental information in corporate sustainability reporting

    Jun XIE, Yoshitaka TANAKA, Alexander Ryota KEELEY, Hidemichi FUJII, Shunsuke MANAGI

    the Society for Environmental Economics and Policy Studies  2022.10 

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  • Determinants and financial consequences of corporate climate change strategy

    Jun XIE, Kenichi YOSHIDA, Shunsuke MANAGI

    the Society for Environmental Economics and Policy Studies  2023.10 

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    Language:Japanese  

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  • A Matter of Time? Corporate Environmental Strategy and Firm Performance

    Jun XIE, Kenichi YOSHIDA, Shunsuke MANAGI

    WEAI  2023.7 

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MISC

  • Environmental, Social, and Governance Performance and Financial Impacts: Comparative Analysis of Companies in Asia

    Kenichi Yoshida, Jun Xie, Shunsuke Managi, Satoru Yamadera

    ADB Economics Working Paper Series No. 741   2024.9

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    Publisher:Asian Development Bank  

    This paper investigates environmental, social, and governance (ESG) performance and financial impacts across 38 economies, with a focus mostly on Asian firms. The key findings include disparities in ESG assessments due to differing methods among rating agencies, significant potential for ESG improvement in Asian companies compared with their European counterparts, and relatively stronger positive financial impacts of ESG practices in Southeast Asia.

    DOI: 10.22617/wps240415-2

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  • Workplace typology and employee well-being: a data-driven approach

    Jun Xie, Xiangdan Piao, Shunsuke Managi

    2024.8

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    Publisher:Springer Science and Business Media LLC  

    Abstract <p>This study employs a data-driven approach to explore the landscape of workplace environments and its implications for employee well-being. By analyzing a large-scale dataset comprising over 1.3 million observations spanning from 2017 to 2021, we identify nine key workplace factors of job demands and job resources, using factor analysis. These factors encompass dimensions such as workload, emotional burden, organizational integrity, job autonomy, and surrounding support. Subsequently, employing Gaussian mixture models (GMM), we classify employees into ten distinct workplace clusters, ranging from Grade D (the most challenging) to Grade A1 (the most favorable). Our findings reveal significant variations in employee well-being across these clusters, with higher grades associated with better mental health, work engagement, job satisfaction, and workplace cohesiveness. Additionally, we examine the impact of workplace cluster changes on employee well-being, highlighting the importance of understanding how shifts in the workplace environment affect employee outcomes. Our study contributes to the literature by providing a comprehensive understanding of workplace dynamics and offering valuable insights for organizational management and policy formulation.</p>

    DOI: 10.21203/rs.3.rs-4786669/v1

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    Other Link: https://www.researchsquare.com/article/rs-4786669/v1.html

  • Advancing Hospital Sustainability: A Multidimensional Index Integrating ESG and Digital Transformation

    Midori Takeda, Jun Xie, Kenichi Kurita, Shunsuke Managi

    2024

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    Publisher:Elsevier BV  

    DOI: 10.2139/ssrn.4710130

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  • Fostering Employee Loyalty: Evaluating Wage Strategies and Workplace Conditions in Japanese SMEs

    Yoshitaka Tanaka, Jun Xie, Shunsuke Managi

    2024

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    Publisher:Elsevier BV  

    DOI: 10.2139/ssrn.4878329

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  • Decreasing per capita human capital growth in 166 countries from 1990 to 2020

    Shuning Chen, Xiangdan PIAO, Jun Xie, Shunsuke Managi

    2023.3

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    Publisher:Research Square Platform LLC  

    Abstract

    Human capital is widely acknowledged as an inclusive resource that encompasses the knowledge and expertise of citizens, which propels economic development. This research integrates education data with demographic, health, and socioeconomic factors to construct a cross-country human capital monetary accounting framework. We evaluate the levels of educational attainment and the total adult population by stage of life expectancy. Subsequently, we assess education returns based on lifetime income and educational attainment. This accounting tracks the level and changes of human capital in 166 countries from 1990 to 2020, providing multiple indicators to measure human capital for sustainability. The primary findings indicate that globally, the growth trajectory of human capital has declined over the past decade, suggesting a threshold for human capital growth under current investment levels. Based on these findings, it is recommended that policymakers consider this shift and align long-term human capital investment with sustainable growth paths.

    DOI: 10.21203/rs.3.rs-2594686/v1

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  • Global change and the contextual dynamics shaping education: A view from the sustainability-education nexus

    Heila Lotz-Sisitka, Shunsuke Managi, Thomas Macintyre, Edward A. Vickers, Anya Chakraborty, Yuto Kitamura, Jun Xie, Chi Zhang

    Reimagining Education: The International Science and Evidence based Education Assessment   2022.3

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    Publisher:{UNESCO} {MGIEP}  

    DOI: 10.56383/qknp4119

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