"sheepskin effect" meaning in English

{
  "etymology_text": "Academic degrees were traditionally presented on sheepskin.",
  "head_templates": [
    {
      "args": {
        "1": "en",
        "2": "noun"
      },
      "expansion": "sheepskin effect",
      "name": "head"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "noun",
  "senses": [
    {
      "categories": [
        {
          "kind": "other",
          "name": "English entries with incorrect language header",
          "parents": [
            "Entries with incorrect language header",
            "Entry maintenance"
          ],
          "source": "w"
        },
        {
          "kind": "topical",
          "langcode": "en",
          "name": "Education",
          "orig": "en:Education",
          "parents": [
            "Society",
            "All topics",
            "Fundamental"
          ],
          "source": "w"
        },
        {
          "kind": "topical",
          "langcode": "en",
          "name": "Money",
          "orig": "en:Money",
          "parents": [
            "Business",
            "Economics",
            "Society",
            "Social sciences",
            "All topics",
            "Sciences",
            "Fundamental"
          ],
          "source": "w"
        }
      ],
      "glosses": [
        "The theory that people who have completed an academic degree earn more income, not because of the knowledge they gained during their education, but rather because their degree indicates things about their personality that employers find favourable."
      ],
      "head_nr": 1,
      "id": "en-sheepskin_effect-en-noun-kAhj35ds",
      "links": [
        [
          "academic",
          "academic"
        ],
        [
          "degree",
          "degree"
        ],
        [
          "income",
          "income"
        ],
        [
          "employer",
          "employer"
        ]
      ],
      "wikipedia": [
        "sheepskin effect"
      ]
    }
  ],
  "word": "sheepskin effect"
}

{
  "etymology_text": "Academic degrees were traditionally presented on sheepskin.",
  "head_templates": [
    {
      "args": {
        "1": "en",
        "2": "noun"
      },
      "expansion": "sheepskin effect",
      "name": "head"
    }
  ],
  "lang": "English",
  "lang_code": "en",
  "pos": "noun",
  "senses": [
    {
      "categories": [
        "English entries with incorrect language header",
        "English lemmas",
        "English multiword terms",
        "English nouns",
        "en:Education",
        "en:Money"
      ],
      "glosses": [
        "The theory that people who have completed an academic degree earn more income, not because of the knowledge they gained during their education, but rather because their degree indicates things about their personality that employers find favourable."
      ],
      "head_nr": 1,
      "links": [
        [
          "academic",
          "academic"
        ],
        [
          "degree",
          "degree"
        ],
        [
          "income",
          "income"
        ],
        [
          "employer",
          "employer"
        ]
      ],
      "wikipedia": [
        "sheepskin effect"
      ]
    }
  ],
  "word": "sheepskin effect"
}