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Research ArticleArticles
Open Access

Teamwork and Human Capital Development

View ORCID ProfileChunchao Wang, Aiping Xiao and View ORCID ProfileYu Zhou
Journal of Human Resources, September 2024, 59 (5) 1425-1457; DOI: https://doi.org/10.3368/jhr.0121-11400R2
Chunchao Wang
Chunchao Wang is a professor of economics at Jinan University.
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Aiping Xiao
Aiping Xiao is an assistant professor of economics at Guangdong University of Finance (Joint first author).
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Yu Zhou
Yu Zhou is an associate professor of economics at Liaoning University (corresponding author: .
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  • For correspondence: zhouyu23{at}vt.edu
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  • Figure 1
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    Figure 1

    Seating Arrangement in a Typical Classroom

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    Figure 2

    Experimental Procedure

Tables

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    Table 1

    Gender Composition of Sample Schools

    NumberPercentage
    School CodeTotal no. of StudentsMaleFemaleMaleFemaleTreatment Class CodeControl Class Code
    HN0125813612253%47%III (2)III (1)
    IV (2)IV (1)
    V (2)V (1)
    HN0230416713755%45%III (2)III (1)
    IV (2)IV (1)
    V (2)V (1)
    HN0433818715155%45%III (2)III (4)
    IV (2)IV (1)
    V (1)V (2)
    HN0536521814760%40%III (2)III (1)
    IV (2)IV (1)
    V (2)V (1)
    HN0632419912561%39%III (117)III (118)
    IV (113)IV (115)
    V (111)V (112)
    Total1,58990768257%43% 
    • Data source: Experimental data.

    • Notes: In last two columns, Roman numerals denote grade years, and Arabic numbers enclosed in parentheses refer to class codes.

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    Table 2

    Descriptive Statistics of Treatment and Control Classes

    Treatment ClassesControl Classes
    VariablesMeanSDNMeanSDNMean Differences
    Average baseline score55.11218.41879055.26019.308799−0.148
    Noncognitive Skills
    Openness0.0151.018775−0.0150.9827830.030
    Conscientiousness0.0111.026775−0.0120.9777830.023
    Extraversion−0.0111.0187750.0130.985783−0.024
    Agreeableness−0.0491.0407750.0490.957783−0.098*
    Neuroticism0.0741.011775−0.0770.0357830.151***
    Individual Characteristics
    Gender (1 = male, 0 = female)0.5680.4967900.5730.495799−0.005
    Age (year)9.5011.0707909.5031.009799−0.002
    Height (cm)135.30611.621790134.5859.4637990.722
    • Data source: Experimental data.

    • Notes: Noncognitive skills are standardized to have a mean of zero and SD of one. Significance: *p < 0.1, ***p < 0.01.

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    Table 3

    Descriptive Statistics of Variables

    VariablesMeanSDMin.Max.N
    Cognitive Skills
    Standardized baseline scores01−2.932.081,589
    Standardized midterm scores01−3.022.331,589
    Standardized final scores01−3.012.271,589
    Noncognitive Skills
    Openness01−4.955.263,043
    Conscientiousness01−3.614.633,043
    Extraversion01−4.035.273,043
    Agreeableness01−2.664.293,043
    Neuroticism01−4.903.363,043
    Control Variables
    Treatment × Post0.250.43013,178
    Treatment team dummy0.500.50013,178
    Extracurricular reading time11.7417.5603003,036
    Household chore time12.3620.5102883,035
    Parents’ yearly income1.890.5905.193,011
    • Data source: Experimental data.

    • Notes: Extracurricular reading time and household chore time are measured in minutes per day. Parents’ yearly income is the logarithm of RMB 10,000.

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    Table 4

    Effects of Forming Teams on Cognitive Skills

    Midterm ExaminationFinal Examination
    (1)(2)(3)(4)(5)(6)(7)(8)
    Panel A: OLS Estimate
    Treatment0.073***0.077***0.078***0.095***0.072***0.075***0.076***0.082***
    (0.013)(0.013)(0.014)(0.018)(0.018)(0.020)(0.021)(0.025)
    Baseline0.816***0.816***0.810***0.791***0.791***0.788***
    (0.026)(0.026)(0.027)(0.024)(0.024)(0.024)
    Individual characteristicsYesYesYesYesYesYes
    Class characteristicsYesYesYesYes
    Family characteristicsYesYes
    N1,5891,5891,5891,4621,5891,5891,5891,462
    Adjusted R20.0040.7000.6990.6950.0010.6850.6830.686
    Panel B: DID Estimate
    Treatment−0.018−0.012−0.011−0.011−0.017−0.012−0.009−0.009
    (0.014)(0.012)(0.012)(0.014)(0.014)(0.012)(0.011)(0.012)
    Post−0.023*−0.023*−0.024−0.026−0.033−0.033−0.032−0.028
    (0.014)(0.012)(0.015)(0.015)(0.020)(0.020)(0.021)(0.021)
    Treatment × Post0.090***0.090***0.091***0.100***0.089***0.089***0.087***0.085***
    (0.015)(0.015)(0.015)(0.018)(0.023)(0.023)(0.023)(0.025)
    Baseline0.909***0.909***0.908***0.897***0.897***0.898***
    (0.012)(0.012)(0.013)(0.012)(0.0123)(0.012)
    Individual characteristicsYesYesYesYesYesYes
    Class characteristicsYesYesYesYes
    Family characteristicsYesYes
    N3,1783,1783,1783,0033,1783,1783,1783,003
    Adjusted R20.0010.8290.8280.8280.0010.8200.8200.823
    Finite sample inference p0.0000.000
    • Notes: Each column is a separate regression. Panel A reports the OLS estimates using test scores in midterm examination (Columns 1–4) and final examination (Columns 5–8) as dependent variables. Panel B reports the results of DID estimates from Equation 1 using midterm examination scores in Columns 1–4 and final examination scores in Columns 5–8. Individual characteristics are gender, age, and height. Class characteristics are school, grade, class, and team dummy variables. Family characteristics are parents’ income, extracurricular reading time, and household chore time. Standard errors are clustered at the school–grade level and enclosed in parentheses. The last row reports finite sample inference. Significance: *p < 0.1, ***p < 0.01.

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    Table 5

    Heterogeneous Effects of Forming Teams: Cognitive Skills

    GenderAcademic PerformanceGrade
    MaleFemaleABCDThirdFourthFifth
    (1)(2)(3)(4)(5)(6)(7)(8)(9)
    Midterm0.128***0.065*0.2400.0460.0430.086**0.186***0.116*0.037**
    (0.035)(0.035)(0.184)(0.052)(0.364)(0.041)(0.019)(0.038)(0.011)
    Between group testp(female = male) = 0.3001p(A = B) = 0.4957 p(A = C) = 0.5727p(third = fourth) = 0.3666
    p(A = D) = 0.5377 p(B = C) = 0.9694p(third = fifth) = 0.0322
    p(B = D) = 0.4338 p(C = D) = 0.4448p(fourth = fifth) = 0.3107
    Final0.0570.105*0.2760.0680.0470.063**0.165***0.1190.003
    (0.043)(0.049)(0.236)(0.082)(0.068)(0.031)(0.024)(0.059)(0.020)
    Between group testp(female = male) = 0.4294p(A = B) = 0.8110 p(A = C) = 0.9432p(third = fourth) = 0.5594
    p(A = D) = 0.3412 p(B = C) = 0.7995p(third = fifth) = 0.0221
    p(B = D) = 0.3135 p(C = D) = 0.3654p(fourth = fifth) = 0.1322
    • Notes: Each column reports the results of a cohort with the specification including individual characteristics, school characteristics, and family characteristics controlled. Midterm represents the DID analysis comparing midterm examination scores with baseline scores. Final represents the DID analysis comparing final examination scores with baseline scores. A, B, C, and D denote levels of academic performance from high to low. Standard errors are clustered at the school–grade level and enclosed in parentheses. Between‐group test reports the p‐value from the between‐group t‐test. Significance: *p < 0.1, **p < 0.05, ***p < 0.01.

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    Table 6

    Between‐Group Comparison of Noncognitive Skills

    First‐Round QuestionnaireSecond‐Round Questionnaire
    Treatment ClassesControl ClassesMean DifferencesTreatment ClassesControl ClassesMean Differences
    Openness0.015−0.0150.0300.034−0.0350.070
    Conscientiousness0.011−0.0110.0230.112−0.1070.219***
    Extraversion−0.0110.013−0.0240.066−0.0630.129**
    Agreeableness−0.0490.049−0.098*−0.0730.068−0.140***
    Neuroticism0.074−0.0770.151***0.115−0.1080.223***
    • Data source: Experimental data.

    • Notes: Significance: *p < 0.1, **p < 0.05, ***p < 0.01.

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    Table 7

    Effects of Forming Teams on Noncognitive Skills

    OLS EstimatesDID Estimates
    (1)(2)(3)(4)(5)(6)(7)(8)(9)
    Agreeableness−0.138*−0.127*−0.147***−0.141**−0.116*−0.122*−0.133**−0.149**0.020
    (0.075)(0.073)(0.055)(0.054)(0.063)(0.063)(0.062)(0.063)
    Conscientiousness0.219***0.215**0.222**0.217**0.209**0.207***0.154**0.140*0.000
    (0.052)(0.105)(0.105)(0.098)(0.087)(0.072)(0.070)(0.078)
    Extraversion0.129**0.1180.1230.1150.1560.1470.1400.1300.100
    (0.052)(0.099)(0.111)(0.122)(0.109)(0.122)(0.116)(0.109)
    Neuroticism0.223***0.214***0.229***0.226***0.170***0.172***0.162**0.200***0.010
    (0.076)(0.075)(0.062)(0.063)(0.065)(0.065)(0.065)(0.065)
    Openness0.0700.0720.0600.0650.0410.0460.0560.0570.190
    (0.052)(0.089)(0.087)(0.091)(0.030)(0.036)(0.041)(0.035)
    Individual characteristicsYesYesYesYesYesYes
    School characteristicsYesYesYesYes
    Family characteristicsYesYes
    • Notes: Each column is a separate regression. Columns 1–4 use OLS specifications using only the personality traits from the second‐round questionnaire, and Columns 5–8 use DID specifications. Column 9 reports the finite sample inference p‐value of the full specification in Column 8. Individual characteristics are gender, age, and height. Class characteristics are school, grade, class, and team dummy variables. Family characteristics are parents’ income, extracurricular reading time, and household chore time. Standard errors are clustered at the school–grade level and enclosed in parentheses. Significance: *p < 0.1, **p < 0.05, ***p < 0.01.

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    Table 8

    Heterogeneous Effects of Forming Teams: Noncognitive Skills

    GenderAcademic PerformanceGrade
    MaleFemaleABCDThirdFourthFifth
    (1)(2)(3)(4)(5)(6)(7)(8)(9)
    Openness0.1050.0030.092−0.0450.149−0.3150.1040.0380.125
    (0.146)(0.125)(0.101)(0.215)(0.291)(0.500)(0.150)(0.167)(0.170)
    Between group testp(female = male) = 0.1306p(A = B) = 0.3093 p(A = C) = 0.9650p(third = fourth) = 0.9963
    p(A = D) = 0.7003 p(B = C) = 0.5421p(third = fifth) = 0.4476
    p(B = D) = 0.8993 p(C = D) = 0.7635p(fourth = fifth) = 0.4671
    Conscientiousness0.1740.116−0.266−0.1340.1790.199**0.297**0.303*0.023
    (0.112)(0.131)(0.825)(0.271)(0.158)(0.088)(0.145)(0.176)(0.151)
    Between group testp(female = male) = 0.7086p(A = B) = 0.4304 p(A = C) = 0.1079p(third = fourth) = 0.6363
    p(A = D) = 0.2497 p(B = C) = 0.3931p(third = fifth) = 0.4461
    p(B = D) = 0.4318 p(C = D) = 0.7902p(fourth = fifth) = 0.2268
    Extraversion0.208*0.0500.3030.1950.0290.1490.297**0.303*0.023
    (0.117)(0.129)(0.831)(0.243)(0.158)(0.126)(0.145)(0.176)(0.151)
    Between group testp(female = male) = 0.3260p(A = B) = 0.5783 p(A = C) = 0.7644p(third = fourth) = 0.9613
    p(A = D) = 0.2254 p(B = C) = 0.5289p(third = fifth) = 0.4389
    p(B = D) = 0.1698 p(C = D) = 0.3382p(fourth = fifth) = 0.5097
    Agreeableness−0.092−0.183*−0.156−0.229−0.222*−0.1130.009−0.022−0.271**
    (0.088)(0.101)(0.779)(0.224)(0.125)(0.079)(0.173)(0.151)(0.127)
    Between group testp(female = male) = 0.2323p(A = B) = 0.3513 p(A = C) = 0.3222p(third = fourth) = 0.6427
    p(A = D) = 0.9228 p(B = C) = 0.8259p(third = fifth) = 0.0923
    p(B = D) = 0.6562 p(C = D) = 0.5861p(fourth = fifth) = 0.0454
    Neuroticism0.1220.231**−0.0950.396*0.2010.151*0.1690.0920.224*
    (0.090)(0.105)(0.600)(0.218)(0.138)(0.078)(0.119)(0.209)(0.125)
    Between group testp(female = male) = 0.2596p(A = B) = 0.2765 p(A = C) = 0.2739p(third = fourth) = 0.1142
    p(A = D) = 0.6667 p(B = C) = 0.8286p(third = fifth) = 0.6508
    p(B = D) = 0.4035 p(C = D) = 0.3590p(fourth = fifth) = 0.0584
    • Notes: Each column reports the results of a cohort with the specification including individual characteristics, school characteristics, and family characteristics controlled. A, B, C, and D denote levels of academic performance from high to low. Standard errors are clustered at the school–grade level and enclosed in parentheses. The between‐group test reports the p‐value from the between‐group t‐test. Significance: *p < 0.1, ***p < 0.01.

    • View popup
    Table 9

    Between‐Group Comparison of Class Behaviors

    First RoundSecond Round
    In‐Class Discipline and AttentionTreatment ClassesControl ClassesMean DifferencesTreatment ClassesControl ClassesMean Differences
    Unpermitted talking3.2253.867−0.642**3.3926.857−3.465***
    Pranking3.0943.909−0.815***3.1656.304−3.139***
    Reading comics0.7410.1700.571***0.9971.556−0.558*
    Sleeping0.2500.0880.162***1.1251.472−0.347
    Tardiness0.1060.0620.043**1.1081.497−0.388
    In‐class attention1.5471.4890.0591.6931.5030.190***
    • Notes: The measurement for talking without permission, pranking, reading comic books in class, sleeping in class, and tardiness is frequency per week. In‐class attention is measured on three levels; that is, 0 = mostly cannot pay attention, 1 = not sure, or 2 = mostly can pay attention. Significance: *p < 0.1, **p < 0.05, ***p < 0.01.

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    Table 10

    Effects of Forming Teams on In‐Class Discipline and Class Attention

    TalkPrankComicsSleepTardinessAttention
    (1)(2)(3)(4)(5)(6)
    Treatment × Post−1.961***−1.563***−0.801***0.000−0.0060.234***
    (0.293)(0.287)(0.303)(0.013)(0.016)(0.047)
    Treatment0.218−0.1720.274**0.016*0.028**−0.021
    (0.228)(0.234)(0.130)(0.009)(0.011)(0.039)
    Post1.189***0.748***1.106***0.018**0.024***−0.023
    (0.200)(0.194)(0.212)(0.008)(0.009)(0.035)
    Individual characteristicsYesYesYesYesYesYes
    Class characteristicsYesYesYesYesYesYes
    Family characteristicsYesYesYesYesYesYes
    N2,5802,5802,6692,4692,4892,049
    Adjusted R20.1530.1700.0530.0170.0210.200
    • Notes: Each column reports the results of a separate equation. The measurement for talking without permission, pranking, reading comic books in class, sleeping in class, and tardiness is times per week. In‐class attention is measured on three levels: 0 = mostly cannot pay attention, 1 = not sure, and 2 = mostly can pay attention. Individual characteristics are gender, age, and height. Class characteristics are school, grade, class, and team dummy variables. Family characteristics are parents’ income, extracurricular reading time, and household chore time. Standard errors are clustered at the school–grade level and enclosed in parentheses. Significance: *p < 0.1, **p < 0.05, ***p < 0.01.

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    Table 11

    Descriptive Statistics of Treatment Classes and Survey Sample

    Treatment ClassesRandom SampleMean Differences
    VariablesMeanSDNMeanSDN
    Cognitive Skills
    Standardized baseline scores−0.0010.991791−0.0041.005730.003
    Noncognitive Skills
    Openness0.0151.019728−0.0310.881730.065
    Conscientiousness0.1121.0547280.0620.795730.051
    Extraversion0.0671.0747280.0850.95773−0.018
    Agreeableness−0.0741.087728−0.1740.933730.100
    Neuroticism0.1161.0477280.0940.868730.022
    Individual Characteristics
    Gender0.5680.4967900.5890.49573−0.021
    Age9.5011.0707909.5211.04273−0.020
    Height135.30611.621790135.6588.3973−0.352
    Grade4.0060.8217903.9860.842730.020
    School3.0611.4487903.1231.44373−0.063
    • Data source: Experiment data.

    • Notes: Cognitive skills and noncognitive skills are standardized to have a mean of zero and SD of one.

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    Table 12

    Follow‐up Survey on Class Teachers

    QuestionStrongly AgreeAgreeNeither Agree nor DisagreeDisagreeStrongly DisagreeTotal
    Connection9 (60%)5 (33%)1 (7%)0 (0%)0 (0%)15
    Mutual help6 (40%)8 (53%)1 (7%)0 (0%)0 (0%)15
    Study supervision8 (53%)5 (33%)2 (13%)0 (0%)0 (0%)15
    Discipline supervision3 (20%)10 (67%)2 (13%)0 (0%)0 (0%)15
    Competition6 (40%)8 (53%)1 (7%)0 (0%)0 (0%)15
    Test score7 (47%)5 (33%)2 (13%)1 (7%)0 (0%)15
    In‐class discipline2 (13%)8 (53%)4 (27%)1 (7%)0 (0%)15
    Attention0 (0%)2 (13%)5 (33%)8 (53%)0 (0%)15
    Curriculum0 (0%)1 (7%)4 (27%)10 (67%)0 (0%)15
    Pedagogy0 (0%)0 (0%)5 (33%)10 (67%)0 (0%)15
    Other class0 (0%)0 (0%)7 (47%)8 (53%)0 (0%)15
    • Data source: Survey data.

    • Notes: For each entry, the number is the count of the corresponding answer. Percentage in parentheses is the count of corresponding answer divided by total count of all answers.

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    Table 13

    Follow‐up Survey on Students

    QuestionStrongly AgreeAgreeNeither Agree nor DisagreeDisagreeStrongly DisagreeTotal
    Adapt time22 (30%)36 (49%)13 (18%)2 (3%)0 (0%)73
    Make friends22 (30%)40 (55%)7 (10%)4 (5%)0 (0%)73
    Team continue19 (26%)36 (49%)15 (21%)3 (4%)0 (0%)73
    Responsible36 (49%)32 (44%)4 (5%)1 (1%)0 (0%)73
    Think action28 (38%)40 (55%)5 (7%)0 (0%)0 (0%)73
    More effort33 (45%)33 (45%)7 (10%)0 (0%)0 (0%)73
    Friend easily31 (42%)33 (45%)9 (12%)0 (0%)0 (0%)73
    After school28 (38%)31 (42%)12 (16%)1 (1%)1 (1%)73
    Study self‐policing32 (44%)34 (47%)7 (10%)0 (0%)0 (0%)73
    Discipline self‐policing35 (48%)33 (45%)4 (5%)1 (1%)0 (0%)73
    Study from stigma23 (32%)32 (44%)15 (21%)3 (4%)0 (0%)73
    Discipline from stigma28 (38%)28 (38%)15 (21%)2 (3%)0 (0%)73
    Study role model33 (45%)29 (40%)10 (14%)1 (1%)0 (0%)73
    Discipline role model33 (45%)30 (41%)9 (12%)1 (1%)0 (0%)73
    Cooperation35 (48%)32 (44%)6 (8%)0 (0%)0 (0%)73
    Kolmogorov–Smirnov test on reasons for studying
     p(self policing = social stigma) = 0.379
     p(self policing = role model) = 1.000
     p(social stigma = role model) = 0.500
    Kolmogorov–Smirnov test on reasons for observing in‐class discipline
     p(self policing = social stigma) = 0.277
     p(self policing = role model) = 0.996
     p(social stigma = role model) = 0.890
    • Data source: Survey data.

    • Notes: For each entry, the number is the count of the corresponding answer. Percentage in parentheses is the count of the corresponding answer divided by the total count of all answers.

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    Table 14

    Correlation between Baseline Test Scores and Noncognitive Skills

    (1)(2)(3)(4)(5)(6)
    Openness0.118***0.048**
    (0.018)(0.017)
    Conscientiousness0.211***0.156***
    (0.030)(0.034)
    Extraversion0.136***0.037
    (0.026)(0.032)
    Agreeableness0.109**0.039
    (0.039)(0.031)
    Neuroticism−0.143***−0.082***
    (0.024)(0.021)
    Individual characteristicsYesYesYesYesYesYes
    Class characteristicsYesYesYesYesYesYes
    Family characteristicsYesYesYesYesYesYes
    N1,5401,5401,5401,5401,5401,540
    Adjusted R20.0550.0830.0590.0510.0590.094
    • Notes: Each column is a separate regression. Individual characteristics are gender, age, and height. Class characteristics are school, grade, class, and team dummy variables. Family characteristics are parents’ income, extracurricular reading time, and household chore time. Standard errors are clustered at the school–grade level and enclosed in parentheses. Significance: **p < 0.05, ***p < 0.01.

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    Table 15

    Treatment Effect with Controls on Noncognitive Skills

    (1)(2)(3)(4)
    Treatment−0.009−0.0010.0010.000
    (0.036)(0.003)(0.004)(0.006)
    Post−0.0200.0000.001−0.001
    (0.037)(0.005)(0.005)(0.004)
    Treatment × Post0.061*0.079***0.080***0.083***
    (0.034)(0.018)(0.019)(0.019)
    Openness0.068***0.012*0.015**0.016**
    (0.018)(0.006)(0.006)(0.006)
    Conscientiousness0.116***0.0050.0040.004
    (0.013)(0.007)(0.008)(0.008)
    Extraversion0.026−0.002−0.002−0.001
    (0.023)(0.007)(0.007)(0.007)
    Agreeableness−0.0040.0010.0060.005
    (0.025)(0.007)(0.007)(0.007)
    Neuroticism−0.075***0.0010.0000.000
    (0.025)(0.008)(0.009)(0.009)
    Individual characteristicsYesYesYes
    Class characteristicsYesYes
    Family characteristicsYes
    N3,0452,9882,9882,980
    Adjusted R20.0390.8500.8500.850
    • Notes: Each column is a separate regression. Individual characteristics are gender, age, and height. Class characteristics are school, grade, class, and team dummy variables. Family characteristics are parents’ income, extracurricular reading time, and household chore time. Standard errors are clustered at the school–grade level and enclosed in parentheses. Significance: *p < 0.1, **p < 0.05, ***p < 0.01.

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    Table A1

    Runs Test on Survey Sample

    VariablesTest ValueCases <
    Test Value
    Cases ≥
    Test Value
    Total CasesNumber of Runsz‐Scorep‐Value
    Baseline scores−0.00433387130−1.5200.129
    Noncognitive Skills
    Openness−0.031373572421.1940.232
    Conscientiousness0.062324072421.3090.191
    Extraversion0.08536367236−0.2370.812
    Agreeableness−0.17431417235−0.3160.752
    Neuroticism0.09434387234−0.6880.492
    Individual Characteristics
    Gender0.58930437329−1.7880.074
    Age9.52136377331−1.5310.126
    Height135.658363773380.1190.905
    Grade3.98626477328−1.6670.095
    School3.12343307330−1.5450.122
    • Data source: Experiment data.

    • Notes: Baseline scores and noncognitive skills are standardized to have a mean of zero and SD of one. Gender is a dummy variable that is one for male and zero for female. Height is measured in centimeters. School is a category variable with values one to five.

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    • 0121-11400R2_supp.pdf
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Journal of Human Resources: 59 (5)
Journal of Human Resources
Vol. 59, Issue 5
1 Sep 2024
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Teamwork and Human Capital Development
Chunchao Wang, Aiping Xiao, Yu Zhou
Journal of Human Resources Sep 2024, 59 (5) 1425-1457; DOI: 10.3368/jhr.0121-11400R2

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Teamwork and Human Capital Development
Chunchao Wang, Aiping Xiao, Yu Zhou
Journal of Human Resources Sep 2024, 59 (5) 1425-1457; DOI: 10.3368/jhr.0121-11400R2
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  • Article
    • Abstract
    • I. Introduction
    • II. Curriculum Schedule and Seating Arrangement in Elementary Schools in Rural China
    • III. Experimental Design
    • IV. Empirical Model
    • V. Empirical Results
    • VI. Mechanism Analysis
    • VII. Conclusion
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