Although traditional research on human capital shows that it enhances employment success, its role in the job search process is unclear. To explain its weak effects in previous studies, this study draws on goal system theory to propose that human capital may act as a double-edged sword: On one hand it facilitates the ease of gaining employment, on the other hand it may compromise the frequency of job search behaviors. We conducted a bi-weekly repeated survey study on new labor market entrants and measured human capital using academic achievement scores. Results confirmed that human capital, though instrumental for proximal job search success, interferes with self-regulatory behaviors in job search. That is, human capital negatively predicted within-person job search intensity, and negatively moderated the within-person relationship between employment efficacy and job search intensity. On the positive side, human capital positively predicted within-person number of interview invitations. Overall, these results provide a more nuanced picture of the role of human capital in the job search process.

尽管人力资本的传统研究表明它可以提高就业成功率，但其在求职过程中的作用尚不清楚。为了解释以往研究中人力资本作用较弱的现象，本研究借鉴目标系统理论，提出人力资本可能是一把双刃剑：一方面促进就业的便利性，另一方面又可能降低就业频率。的求职行为。我们每两周对新进入劳动力市场的人进行一次重复调查研究，并使用学业成绩分数来衡量人力资本。结果证实，人力资本虽然有助于近期求职成功，但会干扰求职中的自我调节行为。也就是说，人力资本负向预测个人内部求职强度，并对就业效能和求职强度之间的人内关系产生负向调节。从积极的一面来看，人力资本正向预测内部面试邀请的数量。总体而言，这些结果更细致地描述了人力资本在求职过程中的作用。