INTRODUCTION
Problem Statement
Numerous studies have explored human capital and social capital separately in relation to various status attainments, including economics, education, and environmental factors, each impacting individuals, firms, organizations, and society differently While some researchers, such as Piazza-Georgi (2002), suggest that human capital and social capital function as substitutes, others, including Bruderl and Preisendorfer (1998), argue for a complementary relationship between the two.
In Vietnam's evolving market economy, education plays a crucial role in enhancing knowledge and competency, with human capital serving as a vital element for boosting wages, skills, and productivity for individuals, firms, and society at large Research by Grayson (2004) highlighted the positive impact of human capital on the income of university graduates in Canada As the Vietnamese government attracts multinational companies, the demand for employees with specific human capital has surged to meet the competitive business landscape According to the OECD (1998), human capital encompasses the knowledge, skills, competencies, and other attributes relevant to economic activity In this study, human capital is specifically represented by English proficiency, computer skills, and communication skills.
Numerous studies have explored the influence of social capital on various positive outcomes at the individual, household, and firm levels For instance, Yandan Wang's 2008 research utilizing the National Education Longitudinal Study highlighted the significance of the university environment in fostering social capital, which positively impacts job outcomes for graduates Similarly, Nguyen Van Ha's 2004 study examined the effects of social capital on household welfare in a paper-recycling craft village in Vietnam, while Ha Anh Tuan investigated its impact on individual income in Ho Chi Minh City However, there is a scarcity of research that integrates both human capital and social capital to assess their combined effects on individual outcomes.
Research Objective
With the above in mind, I am going to investigate the impact of combination between human capital and social capital on the income of university graduate in
Ho Chi Minh City serves as a focal point for understanding the transition of university graduates, where both family and educational institutions play a crucial role in shaping their social networks (Yadan Wang, 2008) During their university years, students accumulate human capital through learning experiences This study emphasizes the significant impact of social and human capital on income, providing valuable insights for students, educators, and educational policymakers.
Research Question
The major relationships investigated in this study are:
Research question 1: Does the investment of individual for the human capital bring the positive relationship to income?
Research question 2: Does the current social capital and cumulative social capital during university period have the positive impact on income of university graduate in Ho Chi Minh City?
Research Methodology
This study analyzes survey data from 252 university graduates in Ho Chi Minh City, utilizing a combination of face-to-face interviews, drop-off surveys, and email questionnaires The research employs the Ordinary Least Squares (OLS) econometric method, incorporating robust standard errors to ensure the reliability of the findings.
The proposed model identifies key independent variables, including cumulative social capital acquired during university through extracurricular activities, volunteer work, and social connections It also considers current social capital and home base social capital, which is represented by socioeconomic status, specifically parental education levels Additionally, human capital is assessed through English proficiency, communication skills, and computer skills.
This study offers valuable insights for a diverse audience Firstly, students can utilize its findings to enhance their preparation for the transition period Secondly, educators and educational policymakers can leverage this information to design effective programs that support students in university, ultimately fostering the development of essential human and social capital.
LITERATURE REVIEW
Social capital and status attainment theory
Bourdieu (1986) defines social capital as the collection of actual or potential resources linked to a durable network of institutionalized relationships characterized by mutual recognition and acquaintance He emphasizes the significance of social capital in contexts such as family, education, and the workplace, suggesting that it transforms casual relationships—like those found in neighborhoods or among kin—into essential and chosen connections that foster enduring obligations, including feelings of gratitude, respect, and friendship (Bourdieu, 1983).
Social capital encompasses three key forms: obligations and expectations, relational networks, and social trust and norms (Coleman, 1990) It plays a vital role in helping individuals achieve their objectives through social relationships and networks Coleman's 1988 study, which analyzed the National Educational Longitudinal Study, explored the connection between social capital and educational achievement, highlighting how social relationships facilitate task completion and goal attainment Furthermore, social capital enhances individual learning and adaptation to societal norms.
According to Putnam (2000), social capital is defined as the connections among individuals, encompassing social networks and the norms of reciprocity and trustworthiness that emerge from these interactions He identifies two types of social capital: bonding social capital, which pertains to inward relationships within families, friend groups, or ethnic communities, and bridging social capital, which involves outward relationships among diverse groups.
Research primarily emphasizes the influence of human capital on the job attainment process, as the status attainment theory posits that educational achievements—specifically knowledge and skills—are essential for gaining a competitive edge in securing better employment opportunities (Becker, 1975; Mincer).
Status attainment theory posits that an individual's educational achievement is influenced by their parents' social status Research by Featherman & Carter (1976) and Jencks (1979) indicates a strong correlation between parents' occupations, education levels, and income with their children's educational outcomes Consequently, the education level attained by children significantly impacts their future occupational status and income potential.
Research on the impact of cumulative social capital during university on income is limited However, connections made through extracurricular activities and other university engagements significantly influence an individual's occupational status The social capital developed during this period can facilitate job opportunities through networking, potentially shaping career trajectories and income levels Conversely, Buerkle and Guseva (2002) argue that the cumulative social capital acquired during university independently affects individual income.
Buerkle and Guseva (2002) highlight that the social capital acquired during university significantly influences an individual's income, with variations depending on their education and experience levels This social capital is particularly valuable for career success as it aligns closely with students' career interests and aspirations Thus, understanding the university experience is crucial as it serves as a vital source of social capital.
In 1999, Lin conducted research to explore the connection between social capital and status attainment The study comprised two key processes: the first examined how individuals access social capital through general social networks, including their educational background and prior experiences The second process analyzed the role of social contacts and the resources they provide during the job search, such as networking opportunities, education, and initial job positions These elements are anticipated to influence achieved status, including occupational status and earnings.
Human capital and status attainment theory
In today's knowledge economy, countries and individuals strive to discover innovative methods to enhance and sustain their competitive edge In Vietnam, individual success is significantly influenced by competency levels Consequently, people are increasingly viewed as valuable assets, highlighting the importance of human capital.
Human capital refers to the combination of individuals' skills, knowledge, and abilities that drive economic activities such as production, consumption, and transactions From an economic standpoint, "human" signifies the active participants in these activities, while "capital" denotes the resources utilized to generate goods or services without being significantly depleted in the process.
2008) On the creation of these concepts, human capital means one of production elements, which can generate benefits through inputting it
Numerous studies indicate that human capital significantly impacts various positive outcomes, with economists demonstrating that investing in human capital leads to higher individual wages compared to other inputs like land, labor, and financial capital (Salamon, 1991) The knowledge and skills acquired through this investment can be easily transformed into goods and services (Romer, 1990) Learning plays a crucial role in developing human capital, enhancing relationships, and fostering personal growth (Sleezer, Conti, & Nolan, 2003) From a micro perspective, human capital is essential for a firm's competitiveness and comparative advantage (Lepak & Snell, 1999).
According to Dension (1962) and Schultz (1961), human capital significantly influences individual wages, firm productivity, and national economies Schultz emphasized that the development of human capital is crucial for economic growth.
Investing in human capital goes beyond just enhancing productivity; it also encompasses various skills and competencies Engaging in learning activities equips individuals with the tools necessary for effective job-seeking Once employed, these individuals can efficiently manage their work tasks, adapt swiftly to changing conditions, and ultimately achieve greater rewards in their current positions and within the labor market.
Human capital refers to the knowledge, skills, competencies, and experience that individuals acquire through learning activities These elements are essential factors that contribute to a person's overall human capital.
Human capital, viewed from an individual perspective, is considered a valuable asset related to the labor force, as noted by Schultz (1961) It encompasses knowledge, skills, education, and abilities (Garavan, 2001; Youndt, 2004), and is defined as the "knowledge, competency, attitude, and behavior embedded in an individual" (Rastogi, 2002).
Human capital is viewed as an accumulative process where individuals gain knowledge and skills through various learning activities, including university, college, and vocational education (Alan, 2008) In essence, human capital is developed through both formal education and experiential learning.
The production-oriented perspective of human capital emphasizes its role as a vital contributor to economic productivity Human capital encompasses various factors, including education, experience, training, intelligence, energy, work habits, trustworthiness, and initiative, all of which influence a worker's marginal product value (Frank and Bernanke, 2007) According to Romer (1990), it serves as a fundamental source of economic productivity, while the OECD (2001) defines human capital as the knowledge, skills, competencies, and attributes that enable individuals to foster personal, social, and economic well-being.
According to the OECD (1998), human capital encompasses the knowledge, skills, competencies, and attributes of individuals that are crucial for economic activity In Vietnam's evolving job market, there is a growing demand for university graduates equipped with essential skills such as communication, self-management, and adaptability Particularly, proficiency in English and computer skills are vital, as they align with the needs of multinational companies increasingly interested in the region.
Research by Becker (1975) and Mincer (1974) emphasizes the critical role of human capital, including knowledge and skills, in the job acquisition process, rooted in the theory of status attainment Featherman & Carter (1976) and Jencks (1979) highlight that an individual's job status is influenced by their skills and knowledge, parental education, personal educational attainment, income, and parental occupation.
Since the late 1970s, numerous studies have explored the connection between income and language proficiency, primarily focusing on developed countries that attract immigrants Research by Chiswick and Miller (1995) highlights the significance of language skills in enhancing economic opportunities for immigrants.
In their 1998 study, Bellante and Kogut explored the connection between English proficiency and income among immigrants in the United States A similar investigation was conducted in the United Kingdom by Shields and Wheatley Price in 2002 Most research in this area has predominantly concentrated on how fluency in the host country's language affects the earnings of immigrants.
In developing countries, the diverse native languages often hinder effective business communication, with English proficiency emerging as the dominant language in the corporate sector This article examines the relationship between English language skills and income levels among the indigenous population, highlighting that earnings are more closely linked to proficiency in the dominant business language rather than fluency in native tongues.
Language proficiency is a crucial component of human capital, significantly enhancing individual productivity by lowering transaction costs and facilitating effective information exchange (Chiswick & Miller, 1995) Research by Dustmann (1994) and Shields & Wheatley Price (2002) indicates that strong language skills enable individuals to negotiate better with employers, leading to higher earnings Most studies focus on the impact of destination language on immigrants' income; in this context, my study defines language proficiency specifically as English proficiency, the predominant language in business.
Measurement of human capital
Human capital measurement can be categorized into three main approaches: the income approach, output approach, and cost approach The income approach focuses on the wages or benefits individuals gain from their investment in education or training The output approach emphasizes metrics such as the level of knowledge acquired and years of schooling completed Lastly, the cost approach considers the expenses incurred in obtaining knowledge or certifications.
Income approach is the returns, income or benefit, which an individual obtains from labor market through education investment Mulligan & Sala-i-Martin
(1995) defines that aggregate human capital is the sum of quality adjustment of each individual’s labor force, and presents the stock of human capital utilizing an individual’s income
The measurement of human capital can be approached through various indicators, including schooling enrollment rates, education attainment, and production output Psacharopoulos (1984) proposed using the average years of schooling as a proxy for assessing the stock of human capital, emphasizing its significance Similarly, Barro (1991) and Barro and Lee (1993) employed school enrollment rates to gauge human capital Additionally, Nehru, Swanson, and Dubey (1993) explored the relationship between human capital and the accumulated years of schooling of individuals in the employable age, highlighting educational attainment as a crucial factor.
Cost approach is the accumulated cost to investing for one’s human capital
Jorgenson and Fraumeni (1989) introduce the concept of discounted future income as a method for evaluating human capital, while Kendric's 1976 study utilizes individual investment costs as a measurement tool.
Chiswick and Miller (1995) highlight that language proficiency is a crucial component of human capital In Vietnam's open economy, where many multinational companies are establishing operations, English skills are increasingly recognized as vital for university graduates to remain competitive in the labor market However, there is a significant lack of empirical research examining the earnings returns associated with varying levels of English proficiency in Vietnam, as well as its relationship with other educational outcomes and social capital.
Casale and Posel (2010) conducted research utilizing the National Income Dynamics Survey (NIDS) from 2008, which revealed that Africans with strong English reading and writing skills experience significant economic returns The study assessed participants' proficiency in English alongside their indigenous languages, using a four-point scale: “very well,” “fair,” “not well,” and “not at all.”
Computer skills are a vital component of human capital, significantly impacting earnings A study by Sakellariou and Patrinos (2004) in Vietnam revealed that individuals with computer skills earn 10-14% more than those without This finding was reinforced in subsequent research using an instrumental variable approach, where university graduates rated their computer skills on a four-point scale Similarly, Choi's (1993) research in Korea indicated that workers with computer skills earned more in industries experiencing rapid technological change compared to those in slower-changing sectors Additionally, Sakellariou and Patrinos' study highlighted a positive correlation between educational outcomes and computer skills in Singapore.
Measurement of social capital
Home based social capital Social Economic Status:
The accumulation of social capital occurs when students and parents actively participate in daily educational activities, with parents contributing essential resources that enhance educational development This involvement not only supports academic growth but also fosters the overall development of children.
Socioeconomic status (SES) is a comprehensive measure that reflects an individual's or family's economic and social standing based on income, education, and occupation This study highlights the role of parents' education as a form of social capital that significantly influences children's educational outcomes, particularly in terms of earnings Parents with higher levels of education tend to provide greater support and involvement in their children's educational activities, fostering an environment that enhances social capital within the family.
Social capital plays a crucial role in shaping young students' behavior and academic performance in university, as it provides essential resources for their success According to Coleman (1988), the relationships between parents and children are fundamental to the development of social capital, influencing students' attainment and overall university experience.
Research by Crosnoe (2004) indicates that emotionally distant relationships with parents can lead to a decline in academic achievement Additionally, studies have explored the connection between family social capital and the number of years of schooling attained Earlier investigations have also demonstrated a positive correlation between a family's socioeconomic status and their children's educational outcomes.
Social Capital in College Extra-curricular activities:
Extracurricular activities are voluntary pursuits beyond the standard academic curriculum that play a significant role in the personal development of students on college campuses These activities foster social interaction and provide essential skills that enhance the overall collegiate experience Involvement in such activities not only serves entertainment and social purposes but also contributes to the development of critical competencies, including leadership and interpersonal skills Research indicates that active participation positively influences educational attainment and career readiness, making students more attractive to future employers Furthermore, these activities help build community on campus, promoting student retention and engagement by connecting individuals with shared interests and goals.
Extracurricular activities provide students with opportunities to meet and interact with diverse individuals beyond their immediate circle, thereby expanding their social networks and enriching their relationships These activities facilitate effective information exchange and learning outside of the classroom environment Engaging in extracurricular pursuits allows students to develop essential social skills and collaborate with peers from various backgrounds, which contributes significantly to their social capital Additionally, these experiences enhance teamwork abilities, ultimately leading to improved academic performance and better job prospects in the future.
“web of cooperative relationships between citizens”
Participation in extracurricular activities significantly enhances social networks and relationships within universities and communities, contributing to social capital For instance, joining an English club allows students to improve their language skills while also fostering friendships with individuals from diverse backgrounds.
Numerous studies highlight the positive correlation between student participation in extracurricular activities and their academic performance and overall outcomes Rombokas (1995) explored how varying degrees of involvement in these activities impact college success, revealing a beneficial relationship with job outcomes Similarly, Guest and Schneider (2003) noted that engagement in extracurriculars, particularly sports, contributes to student development Eccles (2003) emphasized the significant effects of extracurricular activities on academic achievement, personality development, and social behavior.
Numerous studies highlight the significant impact of peer relationships on students' social behavior and academic performance Research by Nichol & White (2001) emphasizes that peer relationships are crucial for student development Additionally, empirical studies by Berndt & Keefe (1995) and Wentzel & Caldwell (1997) reveal a positive correlation between academic success and friendships These findings suggest that strong friendships enhance students' overall engagement in school and their commitment to academic pursuits Moreover, evidence from Nichols and White supports the idea that peer groups positively influence academic achievement, particularly in subjects like algebra.
Understanding the context of peer groups is crucial for analyzing students' social behavior and academic performance (Nichols and White, 2001) Research indicates that strong peer relationships serve as vital social resources, motivating students to engage in positive behaviors During university, students predominantly interact with peers, making these relationships significant in shaping their lives and influencing their opinions and actions In fact, peer influence often holds more weight than parental guidance, highlighting the critical role of peers in students' development.
The teacher – student relationship considers as another form of social capital This relationship has the effect to many outcome of student
The teacher-student relationship is influenced by various factors, including student demographics, academic orientations, and behavioral characteristics (Murray and Greenberg, 2000) Research by Birch & Ladd (1997) indicates that individual student traits, behaviors, and academic performance significantly impact this relationship A positive rapport between teachers and students fosters an environment where students feel comfortable discussing challenges and seeking help, ultimately enhancing their academic performance Furthermore, Birch & Ladd's study highlights that students who receive close attention from their teachers tend to work harder and achieve better results, particularly those with poor social skills who benefit greatly from strong personal connections with their educators.
Relationship between human capital and social capital
Regarding the relationship between social capital and human capital, Coleman
Social capital plays a crucial role in the development of human capital, as highlighted by researchers in 1998 However, some scholars, such as Buerkle and Guseva (2002), propose an alternative perspective, suggesting that social capital may actually emerge as an unintended consequence of the formation of human capital.
Numerous studies have examined the impacts of human capital and social capital on various outcomes, often focusing on each separately rather than their interplay While some researchers view human and social capital as substitutes, others consider them complementary Investing in both forms of capital simultaneously can be challenging for individuals Bruderl and Preisendorfer (1998) suggest that social capital can offset deficiencies in human capital, whereas Piazza-Georgi (2002) argues that investing in human capital may result in a decline in social capital.
Research by Knack and Keefer (1997) indicates that social capital yields greater societal returns compared to human capital Furthermore, Barro and Sala-i-Martin (1995) highlight that the interplay between social and human capital is a key factor in driving economic growth.
A 1998 study by Pennings revealed that human capital and social capital are significant predictors of accounting firm failures in the Netherlands Social capital is reflected in the connections potential clients have with the firm, while human capital encompasses the firm's industry experience, educational qualifications, and employee tenure.
A study by Davidsson and Honig in 2003 examined the relationship between opportunity discovery and exploitation, highlighting the significant roles of human capital and social capital Utilizing longitudinal data from Sweden, their findings revealed that social capital is closely linked to the success of opportunity exploitation, while human capital serves as a strong predictor of entrepreneurial discovery.
Investing in human and social capital significantly enhances a firm's performance, as evidenced by the research conducted by Bosma and Van Praag (2004) This performance is measured through key indicators such as profits, survival rates, and job creation, utilizing data gathered from Dutch entrepreneurs.
According to Coleman (1988), there exists a complementary relationship between human capital and social capital, where social capital within communities and families enhances individual human capital development Burt (2001) emphasizes that "social capital is the contextual complement to human capital." Conversely, some researchers, including Bruderl & Preisendorfer (1998) and Piazza-Georgi (2002), argue that human capital and social capital can exhibit a substitution effect.
Introduction
This study investigates the relationships among key variables affecting university graduates, specifically focusing on accumulative social capital, human capital, and job outcomes measured by income The primary relationships highlighted in the proposed model include human capital factors such as English proficiency, computer skills, and communication skills, alongside social capital elements like socioeconomic status, social connections, extracurricular activities, peer relationships, teacher-student interactions, and the overall impact of the university The chapter outlines the research methodology, detailing data sources, sample selection, and analytical models It begins with a description of data collection methods and proceeds to explain the instrumentation, measurement models, hypotheses, and testing procedures used in the study.
Data collection
Data was collected using a personal network through a structured questionnaire administered to Vietnamese respondents The survey utilized three methods: 10% of the sample was conducted face-to-face, 40% via email, and 50% through drop-off surveys Out of 290 questionnaires distributed, 252 met the criteria of respondents who graduated within the last three years The questionnaire consisted of three sections: the first gathered general information about individuals, the second assessed human capital through questions on English proficiency, computer skills, and communication abilities, and the final section measured social capital, focusing on socioeconomic status, social connections, and experiences during university, including extracurricular activities and relationships with peers and faculty.
The empirical model
This study aims to analyze the causal impact of human capital and social capital on individual income or wages, utilizing survey data as the dependent variable To estimate this relationship, Ordinary Least Squares (OLS) regression with robust standard errors is employed, ensuring accurate and reliable results.
Human capital determinants such as English proficiency, computer skills, and communication skills significantly influence individual outcomes Researchers caution that using Ordinary Least Squares (OLS) can introduce bias due to unobserved characteristics like ability and motivation, which impact educational attainment and learning outcomes Most empirical studies focus on the relationship between education levels and income, often overlooking critical unobservable factors that can skew results My study aims to explore the positive correlation between individual learning outcomes and income, assuming that controlling for various individual characteristics will mitigate the biases associated with endogenous education.
The simplified general model presented in this research illustrates the relationship between social capital, human capital, and income This model highlights how human capital factors, such as English proficiency, computer skills, and communication skills, alongside social capital elements like socioeconomic status, friend connections, and accumulated social capital through university experiences—such as extracurricular activities and peer and teacher-student relationships—can ultimately influence an individual's income.
Human capital refers to the cumulative process through which individuals acquire knowledge and skills via educational activities, including university, college, and vocational training (Alan, 2008) Proficiency in English, computer skills, and communication abilities are assessed by soliciting individual responses, which are rated on a scale from 1 to 5 In this scale, a rating of 1 indicates a beginner level, while a rating of 5 signifies an excellent level of competency in relation to job requirements.
Social capital encompasses various forms of home-based capital, connections with friends, and the accumulation of social capital within a university setting This includes participation in extracurricular activities, the quality of peer relationships, interactions between teachers and students, and the overall impact of the university environment on individual development.
Home-based capital measures are assessed through socio-economic status (SES), specifically by evaluating the education levels of parents This assessment utilizes the "Year of schooling of parent" as a key metric, with responses ranging from 1 to 5 A score of 5 indicates education beyond university level, while scores of 4, 3, 2, and 1 correspond to university, vocational, college, and high school levels, respectively A score of 1 signifies education below high school level.
Friend connection is often measured by the number of friends one believes will offer support during challenging times When faced with difficulties, individuals typically estimate having between one to five friends who they can rely on, with responses ranging from having just one friend to five or more.
Figure 2: Measurement of Friend connection
Extracurricular activities play a vital role in university life, encompassing a variety of options such as sports, music clubs, the green summer volunteer campaign, and English clubs When assessing participation in these activities, respondents rated their involvement on a scale from 5 to 1, where 5 indicates consistent attendance and 1 signifies no participation at all.
Figure 3: Measurement of Extra-curricular activity
Peer relationships in university can be assessed through key questions that gauge their importance among friends These questions include the significance of achieving good grades, the value placed on participating in sports, and the importance of spending time together Understanding these dynamics can provide insight into the social interactions and priorities of university students.
Participation in community volunteer work
Friend connection Number of friend
Time for those relationships answer has 5 options ranged from 5 to 1where 5 is very the most important and 1 is not important at all
Figure 4: Measurement of Peer relationship
The teacher-student relationship in universities can be evaluated through key statements regarding the educational environment These include the extent to which teachers show genuine interest in their students, the fairness of grading practices, and the prevalence of cheating within the institution Understanding these factors is essential for fostering a positive and effective learning atmosphere.
4) Teachers ignore cheating The answer has five options ranged from 1 meaning not agree at all to 5 indicating strongly agree
Impt to have good grade
Figure 5: Measurement of Teacher student relationship
The impact of university education on job outcomes is assessed through various factors, with individuals being asked about its positive influence on their work performance Respondents consider whether their university experience will lead to better job prospects, higher salaries, increased responsibilities, and improved opportunities for promotion Answers are rated on a scale from 1, indicating strong disagreement, to 5, reflecting strong agreement.
Teachers are interested in students
There is cheating in college
Figure 6: Measurement of University impact
Job outcome measures are assessed based on monthly income, with respondents asked, "How much do you earn in your main job?" The responses are reverse coded: a score of 1 indicates earnings below 4 million VND, 2 signifies earnings between 4 and 5.6 million VND, 3 represents earnings from 5.6 to 7.2 million VND, while scores of 4 and 5 correspond to earnings between 7.2 to 8.8 million VND and above 8.8 million VND, respectively.
The model developed by Grootaert (1999) and further refined by Grootaert and Narayan (1999) and Grootaert and Swamy (2002) utilizes human and social capital as inputs, with income as the resulting outcome In this study, I will adopt and apply the same model framework.
Where Y is income or wage H is human capital S is social capital C is characteristic of individual
From the function (1), it can be made model specification by the regression econometric model with ordinary least square technique
Y = β0 + β1Eng + β2Comp + β3ComSki + β4PareEdu + β5Frie + β6FrieMeet + β7ECA1 + β8ECA2 + β9PeerEdu + β10PeerPopu1 + β11Peerpopu2 + β12TeachStu1 + β13TeachStu2 + β14TeachStu3 + β14TeachStu4 + β15ImpStu1 + β16ImpStu2 + β17ImpStu3 + β18ImpStu4 + ei
Where: Y – Income: Monthly income or wage in VND
ECA – Extra-curricular activity PeerPopu - Peer relationship TeachStu - Teacher and student relationship ImpStu - Important of study
The dependent variable Y, representing income, measures the monthly earnings of individuals from their primary job in millions of VND Responses are reverse coded: a score of 1 indicates earnings below 4 million VND, a score of 2 reflects earnings between 4 and 5.6 million VND, and a score of 3 corresponds to earnings ranging from 5.6 to 7.2 million VND.
4 and 5 meaning from 7.2 – 8.8 million VND and above 8.8 million VND
English proficiency (Eng) refers to the level of English skills necessary to fulfill job requirements Respondents are asked to evaluate their English proficiency on a scale of 1 to 5, where 5 indicates an excellent level, 4 represents a good level, 3 signifies an intermediate level, 2 indicates a level between intermediate and beginner, and 1 denotes a beginner level.
Descriptive Statistics
Table 1 presents the descriptive statistics for the variables in the proposed model, highlighting the characteristics of the sampled population This section details the dependent variable alongside the essential independent variables, providing insight into their key attributes.
Table2: Summary statistics of independent and dependent variables
Kurtosis -0.47 0.18 0.68 -1.3 -1.4 0.89 1.68 0.39 0.78 0.39 -0.23 0.08 -0.37 -0.68 0.92 -0.29 -0.5 -0.64 -0.19 -1.50 Skewness -0.07 0.15 0.09 0.32 -0.1 0.75 1.12 -0.42 -0.2 -0.60 -0.01 -0.64 -0.55 -0.22 -0.56 -0.04 0.13 0.06 -0.35 -0.01 Range 4.00 4.00 4.00 4.00 4.00 5.00 4.00 3.00 4.00 4.00 3.00 3.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 Minimum 1.00 1.00 1.00 1.00 1.00 0.00 1.00 2.00 1.00 1.00 2.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Maximum 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00
Human capital is assessed using three variables on a scale from 1 to 5, where 1 represents the lowest skill level and 5 the highest The average scores for English proficiency, computer skills, and communication skills are 2.67, 3.19, and 2.98, respectively, indicating an intermediate level of competency Correlation analysis reveals no significant relationships among these variables According to Tabachnick & Fidell (2001), an absence of correlations above 0.4 suggests that further analysis may be unnecessary, which is not an issue in this case.
Parental education, measured on a scale from 1 to 5, reflects varying levels of educational attainment, with 5 representing a higher university degree and 1 denoting education below high school The average parental education level is 2.42, suggesting that most parents have completed high school or attained a vocational college education.
The average number of friends (Frien) is 3.2, while the average time spent with friends (FrienMeet) is 2.3 hours per week Both variables range from 1 to 5, reflecting the frequency of social interactions and the time dedicated to meeting friends each week.
University activities are assessed through two key measures: participation in extra-curricular activities (ECA1), including music groups, sports teams, and English clubs, and involvement in community volunteer work (ECA2), such as green summer campaigns, environmental clean-ups, and traffic control efforts The average participation scores reveal that students engage more in community volunteer work (3.79) compared to extra-curricular activities (1.93), indicating a higher commitment to community service.
The study examines three key variables related to peer relationships during university: the importance of academic performance and popularity among friends The survey assessed peers' views on education, specifically the significance of achieving good grades (PeerEdu), and the importance of sports (PeerPupo1) and social gatherings (PeerPopu2) among friends The average responses were 2.97 for educational value, 3.48 for the importance of sports, and 3.51 for social interactions, indicating a moderate level of importance placed on education within the sample.
The quality of the teacher-student relationship during university significantly contributes to social capital, as evidenced by four key questions (TeachStu1, TeachStu2, TeachStu3, and TeachStu4) that assess this dynamic The average scores for these items—3.60, 4.02, 3.87, and 3.49—indicate a generally positive perception of the teaching quality and the rapport between students and educators.
Students' perceptions of the impact of university education are assessed through four key items, focusing on its effects on job opportunities, salary, responsibilities, and promotion prospects The average scores for these items are 2.95 for better job opportunities, 2.83 for higher salaries, 2.85 for increased responsibilities, and 3.12 for promotion opportunities Overall, respondents indicated a moderate belief in the university's influence on these aspects of their professional lives.
Income of individual (Y): Mean of income of individual is 3.18, which is very close to monthly income from 5.6 to 7.2 million VND a month
The correlation matrix of independent variables, found in Appendix 1, reveals that there are no significant correlations among the variables According to Tabachnick and Fidell (2001), if correlations exceed 0.4, it may hinder the analysis; however, this issue is not present in our findings.
Modeling Analyses
This section employs regression analysis to investigate the factors influencing individual income It is essential to validate the regression function to confirm its compliance with the Ordinary Least Squares (OLS) method, ensuring that the estimators are Best Linear Unbiased Estimators (BLUE) The diagnostic tests for the regression function encompass assessments for functional form, heteroscedasticity, normality, correlation, and multicollinearity The results of the final regression function are summarized in the following table.
Variable Coefficient Std Error t-Statistic Prob Note
Coefficient of determination, R-square, is 0.41, suggesting that about 41% of the variation in the individual income has been explained by the explanatory variable use in the model
Table 4: Regression result of continuous dependent variable
Variable Coefficient Std Error t-Statistic Prob Note
Coefficient of determination, R-square, is 0.27, suggesting that about 27% of the variation in the individual income has been explained by the explanatory variable use in the model
The regression result in table 4 with INCOME is continuous variable The result is similar to the result of table 3 There are four variables, Eng, PareEdu,
TeachStu1, and FRIEMEET, statistical significant at level 5% The differences are TeachStu2, ComuSkill are insignificant, and FRIENMEET is significant at level 5%
Table 5: Regression result (CFA method for social capital)
Std Error of the Estimate
Peer relationship-PEER -0.10 0.08 -0.06 -1.13 0.26 Teacher and Student relationship - TECHSTU
The regression result in table 5 uses CFA for social capital Most of variables are insignificant except PARE is significant at level 5%
Among the three methods analyzed, the results from Table 3 are the most favorable, aligning with both existing literature and expectations Therefore, I will focus on the findings from Table 3 for the explanation, policy implications, and conclusion of my research.
Explanation of coefficients
The regression analysis presented in Table 3 reveals a statistically significant relationship between human capital, social capital, and individual income Among the four variables analyzed—Eng, PareEdu, TeachStu1, and TeachStu2—each demonstrates statistical significance at the 5% level Additionally, the variable ComuSkill shows significance at the 10% level.
Proficiency in English is positively correlated with individual income, as indicated by a coefficient of 0.24, which is statistically significant at the 5% level This finding aligns with existing literature and supports the hypothesis that an increase in English proficiency by one level can lead to a 24% rise in individual income, assuming other factors remain constant.
Comuski highlights the importance of communication skills, showing a significant positive correlation with individual income at a 10% level Consistent with existing literature, the coefficient for Comuski is 0.26, indicating that an improvement in communication skills by one level can lead to a 26% increase in an individual's income, assuming all other factors remain constant.
Parent education (PareEdu) is a crucial exogenous variable in this study, demonstrating a significant positive effect on children's income at a 5% level, with a coefficient of 0.58 This indicates that an increase of one level in parental education correlates with a 58% rise in individual income, assuming other factors remain constant This finding aligns with existing literature, which emphasizes the importance of socioeconomic status (SES) as a key variable in research In this context, SES is conceptualized through parents' education, revealing a strong positive influence on individual income The relationship highlights the role of home-based social capital—such as parent-child discussions about school activities and parental involvement in educational events—strongly linked to parents' educational attainment Families with higher SES tend to provide more home-based social capital, benefiting children through enhanced parental interaction Conversely, children from disadvantaged SES backgrounds may experience limited engagement with their parents regarding school matters and reduced parental participation in school activities.
Research shows that when teachers demonstrate genuine interest in their students, it positively impacts student outcomes, with a significant correlation coefficient of 0.30 at the 5% level This finding aligns with existing literature, indicating that heightened teacher engagement leads to improved student performance Furthermore, if teacher interest increases by one level, individual income can rise by 30%, highlighting the broader benefits of fostering teacher-student relationships in the learning environment.
Cheating in university negatively impacts individual income, with a significant correlation coefficient of 0.21 at the 5% level Reducing cheating among students can lead to a 21% increase in income, assuming all other factors remain constant.
Policy implication
This study examines whether social capital, especially in the form of parent’s education, and teacher and student relationship, and human capital, in form of
Effective English and communication skills are strongly linked to higher individual income, providing valuable insights for educators and policymakers This study reinforces existing literature, making its findings particularly relevant for university policymakers and career counselors focused on enhancing student success.
The findings highlight the significant impact of human capital, represented by English and communication skills, and social capital, reflected in parental education and teacher-student relationships, on individual income This aligns with existing theories and research, underscoring the importance of both human and social capital for university graduates, influencing not only their economic outcomes but also their overall well-being The challenge lies in enhancing these forms of capital, a responsibility shared by individuals, educators, and policymakers By fostering a culture of collaboration and mutual support, we can strengthen social structures, ultimately improving both material and spiritual quality of life.
Investing in human capital, particularly in English and communication skills, is essential for individuals seeking to achieve a good income in today's knowledge economy Students should proactively enhance their English proficiency and communication abilities beyond their academic studies by participating in clubs or groups, such as English speaking clubs, which provide valuable opportunities for improvement.
Parents' education serves as an exogenous variable that significantly impacts children's development Highly educated parents are more likely to engage positively with their children regarding academic matters, future career prospects, and various activities that contribute to their overall well-being This underscores the importance of parental education in fostering a supportive environment for children's growth and success.
The relationship between teachers and students significantly impacts individual income, making it a crucial factor for educators to consider Engaging classroom interactions, such as encouraging questions and delivering motivating lessons, play a vital role in this dynamic Therefore, educators should focus on developing additional out-of-class activities to strengthen the teacher-student relationship and enhance overall learning outcomes.
Educational policymakers play a crucial role in fostering a positive environment for educators, enabling them to effectively engage in their work and inspire their students Additionally, these policymakers must commit to the continuous improvement of the education system, ensuring that both students and educators have the necessary support to thrive and develop their skills.
CONCLUSIONS AND RECOMMENTDATION
This study presents a summary of findings, discusses implications, and addresses limitations while offering suggestions for future research Unlike previous studies, it specifically focuses on university graduates in Ho Chi Minh City, examining income as an outcome influenced by both current and cumulative social capital, along with the impact of human capital.
Regression analyses reveal that human capital factors, including English proficiency and communication skills, positively influence individual income This aligns with existing literature and the views of educators, who believe that developing human capital provides long-term advantages for students.
Socioeconomic status (SES) is often analyzed in relation to parental education, which has been identified as a significant factor influencing individual income, with a strong positive correlation (b = 0.58, Prob 0.00) The educational level of parents is closely linked to their engagement in discussions with children about school activities, future education, and career orientation This finding aligns with previous research that consistently highlights the importance of parental education in shaping children's outcomes (Griffith, 1998; Grolnick and Slowiaczek, 1994; Sheldon, 2002).
For the effect of teacher-student relationship on income of university’s graduate,
My study strongly supports the conclusion that the teacher-student relationship significantly impacts an individual's income While two out of four findings were deemed insignificant (b = 0.30, Prob = 0.02 and b = 0.21, Prob = 0.03), previous research has shown that positive teacher-student relationships enhance students' learning in later years, which may directly influence their future income.
Due to time and budget constraints, my research primarily focused on university graduates in Ho Chi Minh City, utilizing a limited sample size Consequently, the findings may not be adequate to inform policies for the entire education system or other provinces Therefore, further studies are recommended to gain a more comprehensive understanding, serving as a valuable reference for individuals, educators, and policymakers Additionally, a more extensive investigation is necessary to assess the long-term effects of these findings.
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