“Noon Sunshine-Young Scholars Seminar” is a regular academic exchange platform held by School of Finance. It aims to offer valuable occasions of communications among scholars in our college, between teachers and students, the domestic and the oversea. In this semester, we keep our original intention, set off for a new voyage. We will devote ourselves to fostering the academic atmosphere in the college, and promoting the academic level for both teachers and students.

The seventh session of “Noon Sunshine-Young Scholars Seminar” for the Spring Semester in 2024 is arranged as follows:

Lecture topic：Protective Effect of Human Capital Diversification: Evidence from Double Majors

Keynote Speaker: Wang Bo

Commentator: Zhong Ling

Date：Thursday, April 25th, 2024

Time：12:00-13:00

Lecture Venue：Room 116, School of Finance

Abstract

We study how human capital diversification, in the form of double majoring, affects the response of earnings to labor market shocks. Results indicate that diversified human capital is associated with substantial protective effect against earnings shocks, of 56%. This finding holds across different model specifications and data sets. Furthermore, the protection double majors experience is more pronounced when the two majors are more distantly related, highlighting the importance of diverse skill sets. Additional analyses demonstrate that double majors are more likely to work in jobs that require a diverse set of skills and knowledge and are less likely to work in occupations that are closely related to their majors. Our analyses highlight the value of diversified human capital, which serves as a hedge against labor market uncertainties during economic slumps.