近期的国际研究结果表明，高等教育个人回报的“羊皮效应”在世界各国普遍存在，但在学科与区域之间差异很大；高等教育对人力资本积累的影响会持续贯穿人们的一生，已有检验拒绝了“极端筛选假设”，即“高等教育不能帮助人们积累其人力资本存量而是依据先天能力将人进行分类”；教育的信号作用表现在员工的晋升上，当员工的表现固定时，员工的晋升机会随其教育水平而增加，获得更高学历将会给受教育者本人带来更高的薪酬；明瑟收入方程中有一个独特、有趣但却很少有人探讨的概念-“超越点”，它是指一个人一生中某一刻所观测的收入恰好等于其在毕业时（尚未进行毕业后投资）的潜在收入，超越点能使我们观察到一个人在不同教育水平毕业时他所能赚取的收入是多少，它使教育收益率的计算变得更加容易。%The recent international research shows that"sheep skin effect"about personal returns to higher education is a universal and global phenomenon. However, there exist differences among different disciplines and regions. Higher education has positive effects on the accumulation of the human capital stock and would last for human's rest life. Some tests deny the extreme screening hypothesis, which postulates that higher education classifies people according to their innate abilities instead of leading to accumulation of human capital stock. The signalization of education also presents the promotion of staff. When the staffs have the same performance, the promotion chance directly relates to their educational level, so highly educated experience would bring the staff with higher payment. A unique, interesting, but rarely explored concept in Mincer's earnings function is the"overtaking point", which means the observed earnings at one moment in someone's life just equals to potential earnings at graduation. The overtaking point helps us to observe someone's income at different educational levels, and makes easier to calculate the returns to education.
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