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This paper examines how soft skills training for owner-managers affects the financial performance of exporting small and medium-sized enterprises (SMEs). Furthermore, the authors examine the differential influence of specific owner-manager skills, such as “team working skills”, “technical skills” and “leadership skills”, on performance.

The paper utilises the Longitudinal Small Business Survey, which is a nationally representative employer dataset of UK SMEs with up to 249 employees, including those with no employees. The dataset contains information on firms' turnover, export status of goods or services and training provision for employees or owner-managers.

The results suggest that owner-manager's training has a positive effect on turnover in non-exporting firms. Moreover, a combination of soft and hard skills is associated with higher turnover in exporting firms. Amongst the specific skills of owner-managers, training on “team working” has the most significant impact on exporting SMEs' performance.

The authors' findings imply that managerial training to develop soft skills such as leadership, decision-making and communication is a worthwhile investment. The knowledge that owner-managers acquire through soft and hard skills training enables them to develop essential internationalisation competencies. Moreover, the authors demonstrate that teamwork is a significant predictor of performance.

The authors contribute to the literature by examining the role of owner-managers' training in shaping internal systems, structure, processes and internationalisation strategies, thus affecting SMEs performance. The authors' also provide a nuanced analysis of how various types of soft and hard skills underpin the successful implementation of internationalisation initiatives.

The aim of the paper is to assess the determinants and impact of employer sponsored further training on wage growth in West Germany over the period 1992 to 2002.

Following a descriptive narrative on further training and wages in Germany, data derived from the West German sub‐sample of the German Socio‐Economic Panel is being utilised, which has the main advantage of providing detailed information about the respondents' labour market histories prior to and after 1992. The information provides powerful predictors, controlling for the endogeneity of the training participation decision when estimating a wage growth equation. To assess the impact of training on wages, Heckman selectivity corrected wage equations are used, with the selection being based on a probit model for the probability that an individual receives firm‐sponsored training.

The analysis provides details of significant gender differences in both, the incidence and earnings impact of further training. The results show that further training has a strong positive effect on wages. However, gender inequality issues remain a salient feature of the German training system, which further training only reinforces. The analysis also suggests that the economic conditions during Germany's post‐unification period may have mitigated some of the potential benefits of further training on wage growth.

Despite its growing importance, the determinants and earnings impact of employer‐sponsored, further training have attracted little attention in the empirical literature. Even less is known about the impact of further training during Germany's post‐unification period. This paper adds value by contributing to this fledgling field of investigation.

To introduce the papers which make up a special issue of IJM on labour market intervention.

Briefly describes each of the five papers which comprise this issue of IJM.

Notes that the study contexts of the papers are New Zealand, the UK, Sweden, West Germany, and 14 member countries of the EU.

The papers provide an international overview of contemporary, empirical findings on the effectiveness of various types of labour market intervention.

Using a sample of some 300 small independent businesses, drawn from Central London, the paper examines how entrepreneurial behaviour affects business performance. It is argued that small businesses motivated by a desire to grow in terms of sales and/or employees and to survive in a dynamic and competitive environment need to be innovative. However, to what extent they will innovate successfully depends on their capacity to plan ahead, their capacity to innovate and their willingness to take risk. It is shown that entrepreneurial businesses are characterised by these competencies that allow them to innovate and thus develop and grow successfully. Not surprisingly, not all small businesses are equipped with these three competencies owing to their diverse array of strengths and weaknesses arising from the diversity in the managerial motives and aspirations of entrepreneurship. These results highlight the importance of the capacity to innovate and the capacity to plan ahead as strong predictors of small businesses’ performance.

The aim of this paper is to model the dynamic path of adjustment towards pre‐unemployment levels of wellbeing for a group of full‐time workers who experienced job loss.

Based on data from the German Socio‐economic Panel, a large‐scale panel survey, the paper captures the non‐linear nature of the adaptation process by using an Exponential Smooth Transition Autoregressive (ESTAR) model.

The study finds that adaptation takes place in a non‐linear fashion, with the speed of adjustment being higher for high earners, those with high pre‐unemployment levels of life satisfaction and those who were most satisfied with their jobs before becoming unemployed. It also finds that most of the adaptation takes place during the first year of unemployment, with adaptation speeds decreasing with unemployment duration, suggestive of possible habituation effects being present.

This is the first study to model the dynamic path of adjustment towards pre‐unemployment wellbeing levels as a non‐linear process. Despite the challenge posed by adaptation theory and the recent interest in the wellbeing effects of job loss, there is only sparse empirical evidence on the dynamics of the adaptation to unemployment process.

This paper aims to contribute to the growing body of empirical evaluations of subjective wellbeing by assessing the impact of basic cultural values and beliefs on job satisfaction across 20 countries in Eastern and Western Europe.

Basic cultural values and beliefs are defined by reference to traditional vs secular values and survival vs self‐expression values, respectively. Data derived from the European Values Study 1999/2000 are utilised, which provide detailed information not only on job satisfaction and socio‐demographic characteristics, but also on individuals' subjective views on religion, family values, work, child‐parent ties, political engagement, tolerance and interpersonal trust. Ordered probit regressions are performed to determine the significance of these characteristics, values and beliefs on job satisfaction.

The study highlights the strong influence of a society's broad cultural heritage on individuals' wellbeing at work. This raises questions about the impetus for numerous motivational interventions by managers and consultants. Traditional cultural values exhibit a strong influence on workers' job satisfaction in Western Europe. Interpersonal trust serves as a particularly strong predictor of job satisfaction for both Eastern and Western Europe, and for both male and female workers. The main difference between Eastern and Western Europe is driven primarily by the importance of family and religion.

In previous studies, job satisfaction has been strongly associated with measures of organisational culture. In contrast, the broad cultural heritage of a society as measured by its basic value and belief system has not figured prominently in this literature. This paper adds value by contributing to this fledgling field of empirical research.