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While the effect of the minimum wage (MW) on employment has been widely studied, less is known about its impact on hirings and separations. Whereas the adverse effects of MW on hiring are quite familiar, results of studies indicating reductions in separations are less expected. This study aims to bridge the gap between theory and practice by performing a meta-analysis, which allows for understanding the real effect of MW on employment's two components: hirings and separations.

Since mixed results cloud understanding of the issue, a meta-regression analysis was conducted. This technique permits understanding the effect of MW on labor market transitions and offers additional explanations for controversial results.

Despite the evidence that MW increasing the turnover and reducing permanence could negatively affect employment, findings from meta-regression analysis pointed out that increases in MW reduce hirings but also separations offsetting the negative effect on employment. Overall, the results imply that the standard finding that MW changes have little or no impact on employment rates reflects offsetting reductions in hiring and separations. Evidence of negative publication bias is also found.

The results emphasize the importance of looking beyond employment rates to understand the impacts of MW. Overall, the evidence implies that the standard finding that MW changes have little or no impact on employment rates reflects offsetting reductions in hiring and layoffs. In addition, the results suggest that MW tends to have a much larger impact on employment flows than on employment levels. This finding has to be considered by policymakers when they make decisions about increasing the MW. These analyses assist in clarifying debates about the effects of MW on the labor market in the changing economic environment and conduct a labor policy in the right direction.

The meta-regression analysis (MRA) conducted in this study emphasizes the importance of looking beyond employment rates to understand the impacts of MW (Brochu and Green, 2013). Overall, the evidence implies that the standard finding that MW changes have little or no impact on employment rates reflects offsetting reductions in hiring and layoffs. Therefore, the evidence from the performed MRA is consistent with those previous meta-analysis studies that found little or no evidence about MW adversely affecting employment and, at the same time, provide additional explanation for these findings. In addition, the results suggest that MW tends to have a much larger impact on employment flows than on employment levels (Dube et al., 2016).

Even though hirings are reduced due to MW, this evidence could not necessarily imply a negative effect of MW on the labor market since job searching or matching is improved. Additionally, the increases in MW could improve the quality of the job and the job attachment, which are consistent with a recruitment-retention model (Dube et al., 2007). The evidence from this MRA, which is consistent with little or no impact of MW on employment, also could imply that although the MW is set relatively high to balance the supply and demand of labor, their level is close to optimal. Setting the right level is also associated with compliance with MW. This issue deserves attention since any adverse employment effects of MW could be strengthened by incomplete coverage. The effectiveness of the entire process of developing, putting into practice and enforcing MW rules hinges on compliance.

As prior meta-regression analysis did not have the same objective, the results of this article move current research forward. Based on the analysis, future research lines are delineated, and some public policy implications are assessed.

The innovative mentality, it has been found that it is poorly addressed, which in turn does not provide clear delineations in academic literature. The innovative mentality is an opposition to the traditional innovative culture and that this is observed indirectly through the new forms of action of the younger generations. The purpose of this study aims to seek to provide answers by analyzing how the innovative mentality of leaders 40 years of age and under impacts the transformational or transactional leadership styles. Second, this research analyzes whether the leadership style used in the “40 Under 40” impacts an innovative organizational behavior that positively drives toward organizational success.

The partial least squares structural equations method (PLS-SEM) is used to analyze a set of hypotheses to 103 professionals awarded the 40 under 40 of Caribbean Business Magazine in Puerto Rico between 2012 and 2016. The unit of analysis were young professionals recognized as the “40 Under 40” by the Caribbean Business Magazine in Puerto Rico between 2012 and 2016.

The study results contribute a novel theory about a new style of leadership, based on innovative mentality as a central axis, when combining different leadership styles. The second study examined whether there are significant differences between male and female gender through the proposed research model. The results reflect when the organizational innovative behavior is analyzed, the transactional leadership role used by women is highlighted.

This study distinguishes the “40 Under 40” from other leaders and has allowed their enterprises to be successful is their innovative leadership style, which is executed through their innovative mentality.