WorldWideScience

Sample records for human capital stocks

  1. Human capital, stock, investment and other estimates

    OpenAIRE

    Giraldez, Roxana; Quiñonez, María del Carmen

    2014-01-01

    En el presente trabajo se realiza una cuantificación del capital humano en el Perú expresado en unidades monetarias. Se estiman el stock y la inversión en capital humano así como las tasas de rentabilidad de esta inversión. La principal variable considerada es el nivel de educación. Se trabaja sobre la base de información del ingreso laboral según sexo, edad y nivel de educación, de acuerdo al censo de 1981. A partir de ello se construye el Ingreso Laboral Esperado de por Vida para cada grupo...

  2. Evaluating the impacts of human capital stocks and accumulation on economic growth: some new evidence.

    Science.gov (United States)

    Gemmell, N

    1996-02-01

    "Various hypotheses have been put forward in recent years concerning the contribution of human capital to economic growth. This paper argues that school enrolment rates--by far the most commonly used human capital measure in growth regressions attempting to test these hypotheses--conflate human capital stock and accumulation effects and lead to misinterpretations of the role of labour force growth. An alternative education-related human capital measure is constructed which is capable of distinguishing between stocks and flows. Applying this measure to samples of developed and less developed countries during the 1960-85 period suggests not only that there are important growth effects associated both with 'initial' stocks of, and subsequent growth in, human capital, but also that this new measure out-performs the simple school enrolment rates used in previous analyses."

  3. The Effects of FDI on Human Capital Stock in Central Asian Turkic Republics

    Directory of Open Access Journals (Sweden)

    Durmuş Çağrı YILDIRIM

    2014-11-01

    Full Text Available Foreign direct investment contributes to the education level of a country through many channels. On the other hand, educated labor increases foreign direct investment inflows. The subject of this paper is to investigate the contribution of foreign direct investment to the level of education in Central Asian Turkic Republics. In this study, the contribution of FDI to level of education is examined by Panel OLS methodology for 1999-2011 periods in Azerbaijan, Uzbekistan, Kazakhstan and Kyrgyz Republic, except Turkmenistan. As a result of the study, there is not a significant relationship between FDI stock and level of education which is used as an indicator for human capital investment.

  4. Solow Residuals Without Capital Stocks

    DEFF Research Database (Denmark)

    Burda, Michael C.; Severgnini, Battista

    2014-01-01

    investment expenditures: one eliminates the capital stock by direct substitution, while the other employs generalized differences of detrended data and the Malmquist index. In short samples, these measures can exhibit consistently lower root mean squared errors than the Solow–Törnqvist counterpart. Capital......We use synthetic data generated by a prototypical stochastic growth model to assess the accuracy of the Solow residual (Solow, 1957) as a measure of total factor productivity (TFP) growth when the capital stock in use is measured with error. We propose two alternative measurements based on current...

  5. 12 CFR 725.5 - Capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Capital stock. 725.5 Section 725.5 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.5 Capital stock. (a) The capital stock of the Facility is...

  6. 47 CFR 32.4510 - Capital stock.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 2 2010-10-01 2010-10-01 false Capital stock. 32.4510 Section 32.4510... FOR TELECOMMUNICATIONS COMPANIES Instructions for Balance Sheet Accounts § 32.4510 Capital stock. (a... received for capital stock issued and outstanding. (b) Subsidiary records shall be maintained so as to...

  7. Human Capital, Fertility, and Economic Growth

    OpenAIRE

    Gary S. Becker; Murphy, Kevin M.; Robert F. Tamura

    1990-01-01

    Our model of growth departs from both the Malthusian and neoclassical approaches by including investments in human capital. We assume, crucially, that rates of return on human capital investments rise, rather than, decline, as the stock of human capital increases, until the stock becomes large. This arises because the education sector uses human capital note intensively than either the capital producing sector of the goods producing sector. This produces multiple steady scares: an undeveloped...

  8. 12 CFR 931.3 - Minimum investment in capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Minimum investment in capital stock. 931.3... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.3 Minimum investment in capital stock. (a) A Bank shall require each member to maintain a minimum investment in the capital stock of the Bank,...

  9. Manufacturing Capital Lingers in the Stock Market

    Institute of Scientific and Technical Information of China (English)

    吴程涛; 段铸; 张景宇; 张曙光

    2008-01-01

    Pressured by a slowdown in exports, cost increases and dwindling returns to manufacturing investments, China’s manufacturing capital has begun to shift to the real-estate and stock markets. As a matter of fact, the stock market had already felt a shock a couple of years ago when top domestic manufacturers like Midea, Gree, TCL and LMZ started to invest their idle capital in the real-estate and stock markets. Investments of manufacturing capital in both the real estate and stock markets have increased fluid capital and pushed up the value of both markets. Booms in both markets have in turn guaranteed investment returns of manufacturing capital, which further increased the stock market valuations of manufacturing capital. Such a cycle has created interest chains between listed manufacturers, the stock market and the real-estate market. Along with the ups and downs of the stock and real-estate markets, manufacturing capital now faces a dilemma: to escape or to persist? Where should it escape? When can the markets be profitable again? Just like the classic Shakespearean question: to be or not to be, that is the question.

  10. 12 CFR 931.6 - Transfer of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Transfer of capital stock. 931.6 Section 931.6 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.6 Transfer of capital stock. A Bank in its capital...

  11. 12 CFR 931.1 - Classes of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Classes of capital stock. 931.1 Section 931.1 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.1 Classes of capital stock. The authorized...

  12. 12 CFR 931.2 - Issuance of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Issuance of capital stock. 931.2 Section 931.2 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.2 Issuance of capital stock. (a) In general. A Bank...

  13. Measurement of capital stock and input services of Spanish banks

    OpenAIRE

    Alfredo Martín-Oliver; Vicente Salas-Fumás; Jesús Saurina

    2007-01-01

    This paper contains estimates of physical and intangible (information technology, advertising and training) capital stock, together with capital, labor and externally provided input services, of Spanish commercial and saving banks in the period 1983 to 2003. Capital stocks are valued at replacement costs and assets’ services flows are computed using estimates of the risk-adjusted user cost of capital. Replacement costs of assets are substantially higher than book values and economic estimates...

  14. Research on Human Capital Stock Evaluation System from Microscopic Perspective%基于微观视角的人力资本存量评价体系研究

    Institute of Scientific and Technical Information of China (English)

    汪运波; 肖建红; 孙大山

    2014-01-01

    On the basis of concept analysis,including Human Capital Stock,Human Capital,Human Capital Investment and Human Capita Value,using the relevant theory of knowledge,competence and health,the Human Capital Stock Evalu-ation System from micro perspective is established,which comprises 3 first-level indicators,7 second-level indicators, 13 third-level indicators and 34 forth-level indicators. Evaluation methods on the indicators are also proposed. Hence, the Human Capital Stock could be evaluated from the individual microscopic perspective.%在辨析人力资本存量、人力资本、人力资本投资和人力资本价值等概念的基础上,运用知识、能力和健康相关理论,建立由3个一级指标、7个二级指标、13个三级指标和34个四级指标组成的个体人力资本存量评价指标体系,并提出各项指标的测评方法,从而从微观角度实现对人力资本存量评价。

  15. Human capital, schooling and health.

    Science.gov (United States)

    Schultz, T Paul

    2003-06-01

    A consensus has been forged in the last decade that recent periods of sustained growth in total factor productivity and reduced poverty are closely associated with improvements in a population's child nutrition, adult health, and schooling, particularly in low-income countries. Estimates of the productive returns from these three forms of human capital investment are nonetheless qualified by a number of limitations in our data and analytical methods. This paper reviews the problems that occupy researchers in this field and summarizes accumulating evidence of empirical regularities. Social experiments must be designed to assess how randomized policy interventions motivate families and individuals to invest in human capital, and then measure the changed wage opportunities of those who have been induced to make these investments. Statistical estimation of wage functions that seek to represent the relationship between wage rates and a variety of human capital stocks may yield biased estimates of private rates of return from these investments for a variety of reasons. The paper summarizes several of these problems and illustrates how data and statistical methods can be used to deal with some of them. The measures of labor productivity and the proxies specified for schooling and adult health are first discussed, and then the functional relationships between human capital and wages are described. Three types of estimation problem are discussed: (1) bias due to omitted variables, such as ability or frailty; (2) bias due to the measurement of an aggregation of multiple sources of human capital, e.g. genetic and socially reproducible variation, which may contribute to different gains in worker productivity; and (3) errors in measurement of the human capital stocks. Empirical examples and illustrative estimates are surveyed.

  16. Investment Problems of China Rural Human Capital

    Institute of Scientific and Technical Information of China (English)

    ZHANG Junxia; YU Jialin; CHEN Ying

    2011-01-01

    The rural human capital refers to the condensation of the physical body, knowledge, skills, and all the abilities that can improve the capacity of the rural labor productivity. The ability is a form of human capital stock and it plays an important role in China's development of rural economy and society, but at present the situation of investment in human capital in rural areas is not optimistic. A lot of problems need to be solved such as the inadequate total investment and the irrational structure, as to these issues, strategies and recommendations were proposed in order to strengthen the human capital investment.

  17. Modern Human Capital Management

    OpenAIRE

    Feldberger, Madita

    2008-01-01

    Title: Modern Human Capital Management Seminar date: 30th of May 2008 Course: Master thesis in Business Administration, 15 ECTS Authors: Madita Feldberger Supervisor: Lars Svensson Keywords: Human capital, SWOT Analysis, Strategic Map, Balanced Scorecard Research Problem: Despite of the success of Human Capital Management (HCM) in research it did not arrive yet in the HR departments of many companies. Numerous firms even have problems to set their strategic goals with focus on HR. The HR Bala...

  18. 12 CFR 950.11 - Capital stock requirements; unilateral redemption of excess stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Capital stock requirements; unilateral redemption of excess stock. 950.11 Section 950.11 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK ASSETS AND OFF-BALANCE SHEET ITEMS ADVANCES Advances to Members § 950.11 Capital...

  19. Human Capital and Retirement

    NARCIS (Netherlands)

    P. Alders

    1999-01-01

    textabstractThis paper investigates the relation between human capital and retirement when the age of retirement is endogenous. This relation is examined in a life-cycle earnings model. An employee works full time until retirement. The worker accumulates human capital by training- on-the-job and by

  20. Assessment of Intellectual Capital in Joint-Stock Companies

    Directory of Open Access Journals (Sweden)

    Rima Tamošiūnienė

    2015-12-01

    Full Text Available The evaluation of intellectual capital factors is an essential part for the management of joint-stock companies. Many authors indicate that successful intellectual capital management increases value added in joint-stock companies. Nevertheless, intellectual capital is a complex and challenging concept as there is still no clear guidance, what the intellectual capital features and its structural parts are. Theoretical research revealed that scientists accentuate various intellectual capital parts depending basically on the type of their research, on the level of the research (micro, mezzo, macro, variables they selected to investigate and similar. This research paper gives an insight what drivers can be increasing value added in joint-stock companies.

  1. 12 CFR 933.5 - Disclosure to members concerning capital plan and capital stock conversion.

    Science.gov (United States)

    2010-01-01

    ... the liquidity, capital, earnings or continuing operations of the Bank, including those affecting... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Disclosure to members concerning capital plan and capital stock conversion. 933.5 Section 933.5 Banks and Banking FEDERAL HOUSING FINANCE...

  2. Analysis of the input-output efficiency of regional stock of human capital%区域人力资本存量投入产出效率分析

    Institute of Scientific and Technical Information of China (English)

    吴传真; 何刚; 乔国通

    2015-01-01

    By using the method of data envelopment analysis, it analyzes the input-output efficiency of the re-gional stock of human capital based on the statistical data from six provinces of China in 2013, so the paper clas-sifies six provinces of China and analyzes the reasons which make the efficiency different.Moreover, the paper analyses the factors affecting the regional stock of human capital so as to provide policy-making basis for the in-put of regional stock of human capital and to promote the sustainable development of regional economy.%采用数据包络分析法,基于六个省份2013年人力资本存量统计数据,分析各省人力资本存量投入产出效率,对六省进行分类,并分析各省效率差异的原因。分析各省人力资本存投入产出效率差异的原因,从而为区域人力资本投入提供决策依据,促进区域经济的可持续发展。

  3. The Relationship between Intellectual Capital and Income Smoothing and Stock Returns (Case in Medical Companies

    Directory of Open Access Journals (Sweden)

    Dr. H. Vakilifard

    2013-05-01

    Full Text Available This article examines the relationship between intellectual capital, income smoothing and stock returns. We are capturing income smoothing through total accruals. Income smoothing firms have significantly higher abnormal returns around earnings announcement. In the knowledge economy, intellectual capital has become one of the primary sources of competitive advantage for a firm. Given the remarkable shift in the underlying production factors of a business within the new knowledge economy, it is important for firms to be aware of the elements of intellectual capital that would lead to value creation. So we associated relationship between intellectual capital and income smoothing and stock returns. The sample includes 108 firm-year observations from 2006 to 2011.We have used five variables: three variables to measure IC, and two variables to measure stock returns and income smoothing. Initial data analyses were conducted through SPSS. The results of our study showed that there was relationship between physical capital and stock returns but they did not provide support for the positive relationship between structural capital, human capital and firm’s financial performance.

  4. Human Capital and Sustainability

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2011-01-01

    Full Text Available A study of sustainability needs to consider the role of all forms of capital—natural, biological, social, technological, financial, cultural—and the complex ways in which they interact. All forms of capital derive their value, utility and application from human mental awareness, creativity and social innovation. This makes human capital, including social capital, the central determinant of resource productivity and sustainability. Humanity has entered the Anthropocene Epoch in which human changes have become the predominant factor in evolution. Humanity is itself evolving from animal physicality to social vitality to mental individuality. This transition has profound bearing on human productive capabilities, adaptability, creativity and values, the organization of economy, public policy, social awareness and life styles that determine sustainability. This article examines the linkages between population, economic development, employment, education, health, social equity, cultural values, energy intensity and sustainability in the context of evolving human consciousness. It concludes that development of human capital is the critical determinant of long-term sustainability and that efforts to accelerate the evolution of human consciousness and emergence of mentally self-conscious individuals will be the most effective approach for ensuring a sustainable future. Education is the primary lever. Human choice matters.

  5. THE MARKET VALUE OF HUMAN CAPITAL: AN EMPIRICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    NEAGU OLIMPIA

    2012-12-01

    Full Text Available There is a general consensus that human capital is a major determinant of economic growth. Reflections on how human capital is related to growth can be extended by viewing on the market value of the human capital. The concept of the market value of human capital reflects the efficiency of allocation and utilisation of the human capital in the economy. To measure this efficiency the concept of the market value of human capital is explained and developed in the present paper. The aim of the paper is to introduce the concept of market value of human capital and the specific objectives are targeted to define his content, to propose a method for estimating it and to provide calculations of it for OECD countries. The concept of human capital is complex and multifaceted one, consisting of: native human capital (biological, educational capital, health capital and social skills (Neagu, 2010. Clearly, human capital is intangible, a stock that is not directly observable as physical capital. Therefore, the estimation of human capital must be constructed indirectly. The stock of human capital in economy creates economic value, expressed through the economic output per capita. In order to estimate this economic value we have to find an appropriate proxy for the human capital stock producing that value. In the purpose of our paper, we consider that the economic value of human capital can be estimated by calculating the aggregate value created by the active human capital in the economy. In this view, GDP per person employed is a relevant estimation of value created by the employed labour force. The aggregate value is created by the employed persons with different educational level. The market value of human capital is calculated by dividing the GDP per person employed to the human capital stocks active in the economy. The human capital stock depends on educational costs ( on primary, seconadry, tertiary education as a the share of GDP per capita weighted by the

  6. Manage "Human Capital" Strategically

    Science.gov (United States)

    Odden, Allan

    2011-01-01

    To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…

  7. Manage "Human Capital" Strategically

    Science.gov (United States)

    Odden, Allan

    2011-01-01

    To strategically manage human capital in education means restructuring the entire human resource system so that schools not only recruit and retain smart and capable individuals, but also manage them in ways that support the strategic directions of the organization. These management practices must be aligned with a district's education improvement…

  8. On Aggregating Human Capital Across Heterogeneous Cohorts

    DEFF Research Database (Denmark)

    Growiec, Jakub; Groth, Christian

    Based on a general framework for computing the aggregate human capital stock under heterogeneity across population cohorts, the paper derives aggregate human capital stocks in the whole population and in the labor force, and relates these variables to average years of schooling and average work...... experience. Under the scenarios considered here, the "macro-Mincer" (log-linear) relationship between aggregate human capital and average years of schooling is obtained only in cases which are inconsistent with heterogeneity in years of schooling and based on empirically implausible demographic survival laws....... Our numerical results indicate that the macro-Mincer equation can be a reasonable approximation of the true relationship only if returns to schooling and work experience are roughly constant across countries...

  9. On Aggregating Human Capital Across Heterogeneous Cohorts

    DEFF Research Database (Denmark)

    Growiec, Jakub; Groth, Christian

    Based on a general framework for computing the aggregate human capital stock under heterogeneity across population cohorts, the paper derives aggregate human capital stocks in the whole population and in the labor force, and relates these variables to average years of schooling and average work...... experience. Under the scenarios considered here, the "macro-Mincer" (log-linear) relationship between aggregate human capital and average years of schooling is obtained only in cases which are inconsistent with heterogeneity in years of schooling and based on empirically implausible demographic survival laws....... Our numerical results indicate that the macro-Mincer equation can be a reasonable approximation of the true relationship only if returns to schooling and work experience are roughly constant across countries...

  10. Entrepreneurs’ human and social capital

    DEFF Research Database (Denmark)

    Shayegheh Ashourizadeh, Shayegheh; Rezaei, Shahamak; Schøtt, Thomas

    2014-01-01

    capital, that human capital and social capital (specifically networking in the international environment, work-place, professions and market, but not in the private sphere) both benefit export directly and that human capital amplifies the benefit of social capital, especially through international......Abstract: It is widely acknowledged that entrepreneurs’ human capital in form of education and social capital in form of networking are mutually beneficial and also that both human and social capital benefit their performance. Here, the hypothesis is that human and social capital, in combination......, provide added value and jointly add a further boost to performance, specifically if the form of exporting. Global Entrepreneurship Monitor provides data on 52,946 entrepreneurs, who reported on exporting and networking for advice. Hierarchical linear modelling shows that human capital promotes social...

  11. Rebuilding the Stock of Social Capital.

    Science.gov (United States)

    Sander, Thomas H.; Putnam, Robert D.

    1999-01-01

    Social capital and generalized trust are declining. Civic "watering-holes" like bowling leagues, fraternal organizations, choral societies, and "do-gooder" groups are drying up. Schools must spur greater parental involvement, make schools smaller, stress community service, teach civics, fund extracurricular activities, and…

  12. 27 CFR 31.134 - Increase in capital stock of a corporation.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Increase in capital stock... Registration Information Other Changes § 31.134 Increase in capital stock of a corporation. An amended registration is not required by reason of an increase in the capital stock of a corporation so long as a new...

  13. Human Capital and Economic Growth - How Strong is the Nexus?

    Directory of Open Access Journals (Sweden)

    Marinko Škare

    2016-08-01

    Full Text Available The link between human capital and economic growth still remains unexplained because of the measurement issues connected to the human capital stock. This study investigates the link between human capital stock and economic growth using inclusive wealth index and ratio of engaged to actively disengaged employees as proxy for human capital stock. Data from the global workplace and inclusive wealth reports are used in order to provide an international comparison of the link between human capital and inclusive wealth. Cross country comparison show human capital largerly contribute to the inclusive wealth formation. Formal education is important but also motivating working environment is needed to achieve sustainable economic growth. The finding further indicates that standard human capital growth model should be revised taking into the account variables addressing sustainable growth (not just growth and environmental variables (work conditions affecting human capital stock. Countries encouraging investments in the development of individuals both through formal education and inspiring work environments achieve higher sustainable economic growth

  14. THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

    OpenAIRE

    HANNES OTTÓSSON; KIM KLYVER

    2010-01-01

    Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

  15. THE EFFECT OF HUMAN CAPITAL ON SOCIAL CAPITAL AMONG ENTREPRENEURS

    OpenAIRE

    HANNES OTTÓSSON; KIM KLYVER

    2010-01-01

    Using data collected from 714 entrepreneurs in a random sample of 10,000 Danes, this study provides an investigation of the effect of human capital on social capital among entrepreneurs. Previous entrepreneurship research has extensively investigated the separated effect of human capital and social capital on different entrepreneurial outputs. The study takes a step back and investigates how these two capital concepts are related — specifically how human capital influences social capital. In ...

  16. STOCK EXCHANGE LISTING INDUCES SOPHISTICATION OF CAPITAL BUDGETING

    Directory of Open Access Journals (Sweden)

    Wesley Mendes-da-Silva

    2014-08-01

    Full Text Available This article compares capital budgeting techniques employed in listed and unlisted companies in Brazil. We surveyed the Chief Financial Officers (CFOs of 398 listed companies and 300 large unlisted companies, and based on 91 respondents, the results suggest that the CFOs of listed companies tend to use less simplistic methods more often, for example: NPV and CAPM, and that CFOs of unlisted companies are less likely to estimate the cost of equity, despite being large companies. These findings indicate that stock exchange listing may require greater sophistication of the capital budgeting process.

  17. The impact of intellectual capital on firm performance: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mehran Matinfard

    2015-11-01

    Full Text Available The aim of the present research is to study the relationship between intellect capital components and performance evaluation indicators. For measuring intellectual capital, the study uses Pulic’s method [Pulic, A. (2000. VAIC™–an accounting tool for IC management. International Journal of Technology Management, 20(5-8, 702-714.], which consists of three components of physical capital efficiency, human capital efficiency and structural capital efficiency. In the present study first, the value of the intellectual capital of the companies listed on Tehran Stock Exchange over the period 2006-2012 is calculated. Next, the relationship between the components of intellectual capital and financial return of the companies are evaluated. For calculating the financial performance 8 performance indicators in 5 groups presenting market value, profitability, activity, capital return, orientation on value creation are used. In the present research the statistical method used for data analysis is multiple regression and correlation coefficients. The selected sample of research includes 73 companies in continuous way for a time period of 7 years and the size of the company has been considered as a control variable. The findings indicate a positive and significant relationship between intellectual capital and financial performance of companies and a positive effect of the size of company on availability rate of intellectual capital and financial performance of a company.

  18. CAPITAL STRUCTURE DETERMINANTS: EVIDENCE FROM PALESTINE AND EGYPT STOCK EXCHANGES

    Directory of Open Access Journals (Sweden)

    Abdul Razak Abdul Hadi

    2017-04-01

    Full Text Available Abstract -This study is driven by the motivation to examine the capital structure determinants for Palestine Stock Exchange (PEX and Egypt Stock Exchange (EGX. Within the framework of capital structure theories, this study uses Generalized Method of Moments (GMM,1982 as an estimation model employing quarterly panel data analysis during the observed period from 2008 till 2012. The test results from GMM indicate that all the examined determinants have significant relationship with leverage. It has a negative value with liquidity, non-debt tax shield, profitability, size and growth. The Egyptian firms have some uniqueness in its trend. Current assets, debt ratio and liquidity behave positively with leverage except for growth. The other tested determinants in Egyptian companies are found to be not significant.

  19. Human Capital Investment and an Analysis of Its Progressive Profit

    Institute of Scientific and Technical Information of China (English)

    张德平; 孙诚

    2004-01-01

    Skilled labor force cultivated through putting in funds and time in their education are undoubtedly essential in the operation of sophisticated machines in production, but it is so also in the creation of new ideas and methods in production and other economic activities, and ultimately in the promotion of the progressive increase of material capital. Thus strengthening the investment of human capital and enriching the stock of human capital is of primary importance, especially for China, in the 21st century.

  20. How Does Human Capital Affect on Growth in Different Economies?

    Directory of Open Access Journals (Sweden)

    Mehdi Safdari

    2010-01-01

    Full Text Available Problem statement: The main objective of this study was to investigate how human capital can affect growth in different economies. Approach: For this purpose, we investigated the model, which the growth rate of total factor productivity depends on human capital stock level using a cross-country panel approach for 104 countries in five-year intervals during the 1980-2005. Results: The finding of this study showed that human capital through its effect on the speed of technology adoption from abroad has positive effect and significantly on growth in total samples of countries while human capital directly in developed countries enter negatively inverse developing countries. Conclusion: Moreover human capital affects growth in different ways it has more effects on per capital growth through technology/catch-up component than domestic innovation component. Moreover human capital of different ways has different effects on growth but in total it has positive effect on economic growth.

  1. 12 CFR 931.7 - Redemption and repurchase of capital stock.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Redemption and repurchase of capital stock. 931.7 Section 931.7 Banks and Banking FEDERAL HOUSING FINANCE BOARD FEDERAL HOME LOAN BANK RISK MANAGEMENT AND CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL STOCK § 931.7 Redemption and repurchase...

  2. Human capital strategy: talent management

    National Research Council Canada - National Science Library

    Nagra, Michael

    2011-01-01

    .... This article elaborates the human capital management strategy within the Army Nurse Corps, which identifies, develops, and implements key talent management strategies under the umbrella of the Corps...

  3. Test Of Capital Asset Pricing Model On Stocks At Karachi Stock Exchange

    Directory of Open Access Journals (Sweden)

    Arbab Khalid Cheema

    2010-12-01

    Full Text Available This paper attempts to empirically test the single-factor CAPM developed by Sharpe (1964, Lintner (1965 and Jan Mossin (1966 and others, which proposes that the expected returns of capital assets are dependent on their risk relative to the entire market which is quantified by a correlation co-efficient between asset returns and market returns. The test of 20 stocks at Karachi Stock Exchange have shown that though, the beta co-efficients are significant, their strength is considerably weak. Therefore, other factors which are unaccounted for in this model are important in determining risk and return. In addition, betas are less relevant in a volatile emerging capital markets like the KSE. Thus, the multi-factor models are better than the classical CAPM at determining the risk-return relationship. However, the single-factor CAPM remains in practice beacause of its simplicity.

  4. Analyzing the Stock Markets Role as a Source of Capital Formation in Pakistan

    Directory of Open Access Journals (Sweden)

    Hakim Ali Kanasro

    2011-12-01

    Full Text Available This paper is to examine the stock markets role in the capital formation in Pakistan from the period 1st January 2001 to 31st December 2008. This analytical study is based on the data collected from the secondary sources such as State Bank of Pakistan and three stock exchanges; Karachi, Lahore and Islamabad Stock exchanges. The stock market size of capital, number of listed companies and liquidity positions has been examined in the study. The study reveals that Karachi Stock exchange is the oldest and biggest Stock exchange of Pakistan and it is the first mover to adapt institutional developments, new policies and procedures in the business of securities exchange and shares a big role in the capital formation in Pakistan. In recent years all stock exchanges have implemented the advanced technology and fully automated trading systems. This has changed the stock markets role in the capital formation as great boom has been observed during the study period.

  5. Stock de Capital en Chile (1985-2005): Metodología y Resultados

    OpenAIRE

    Claudia Henríquez G.

    2008-01-01

    This paper presents the methodology of capital stock measurement for the Chilean economy by types of assets and different economic activities, according to the Reference Compilation 2003 of National Accounts System. Capital stocks by types of assets are estimated under the Perpetual Inventory Method (PIM), while the activity sectors approach follows to Harberger (1972) method. Specifically, integrated and consistent measurements for investment, capital stock (gross and net) and consumption of...

  6. FINANCIAL RATIOS AND STOCK PRICES ON DEVELOPED CAPITAL MARKETS

    Directory of Open Access Journals (Sweden)

    BOGDAN DIMA

    2013-03-01

    Full Text Available This study empirically tests for the relevance of a set of financial ratios designed to capture issuers’ financial performance for the dynamics of stock prices, on a dataset of quarterly values for 495 trading quotes from major European capital markets as well as from S&P 500 market covering a time span between 2003/1 and 2011/1. The research hypothesis is that financial ratios reflecting issuers’ financial health matter in the selection of portfolios’ structure. We tested this hypothesis in a GMM methodological framework and found that such relationship holds on long run, even if there appears to be some differences in the reactions of European and United States’ stocks to financial information.

  7. Heterogeneity of Capital Stocks in Japan: Classification by Factor Analysis

    Directory of Open Access Journals (Sweden)

    Konomi Tonogi

    2014-04-01

    Full Text Available This paper examines the heterogeneity of capital stocks using financial statement data of publicly listed Japanese firms. We conduct factor analysis on investment rates among various capital goods and estimate factor loadings of each as its reactions to common factors like total factor productivity (TFP shocks. Then we estimate the uniqueness for each investment rate, which is the percentage of its variance that is not explained by the common factors. If the estimated factor loadings are similar between some of the heterogeneous capital goods, it may well imply that the adjustment cost structure of these investments is also similar. Further, if some of the estimated values of uniqueness are small, it suggests that certain theoretical models may track the dynamics of the investment rates well. Our estimation results show that Building and Structure have similar factor loadings as do Machinery & Equipment, Vehicles & Delivery Equipment, and Tools, Furniture, & Fixture. This suggests that we could remedy the Curse of Dimensionality by bundling the investments that have similar factor loadings together and that identifying the functional structures of each group of capital goods can greatly improve the performance of empirical investment equations.

  8. Human capital strategy: talent management.

    Science.gov (United States)

    Nagra, Michael

    2011-01-01

    Large organizations, including the US Army Medical Department and the Army Nurse Corps, are people-based organizations. Consequently, effective and efficient management of the human capital within these organizations is a strategic goal for the leadership. Over time, the Department of Defense has used many different systems and strategies to manage people throughout their service life-cycle. The current system in use is called Human Capital Management. In the near future, the Army's human capital will be managed based on skills, knowledge, and behaviors through various measurement tools. This article elaborates the human capital management strategy within the Army Nurse Corps, which identifies, develops, and implements key talent management strategies under the umbrella of the Corps' human capital goals. The talent management strategy solutions are aligned under the Nurse Corps business strategy captured by the 2008 Army Nurse Corps Campaign Plan, and are implemented within the context of the culture and core values of the organization.

  9. Human Capital, (Human) Capabilities and Higher Education

    Science.gov (United States)

    Le Grange, L.

    2011-01-01

    In this article I initiate a debate into the (de)merits of human capital theory and human capability theory and discuss implications of the debate for higher education. Human capital theory holds that economic growth depends on investment in education and that economic growth is the basis for improving the quality of human life. Human capable…

  10. Human Capital, (Human) Capabilities and Higher Education

    Science.gov (United States)

    Le Grange, L.

    2011-01-01

    In this article I initiate a debate into the (de)merits of human capital theory and human capability theory and discuss implications of the debate for higher education. Human capital theory holds that economic growth depends on investment in education and that economic growth is the basis for improving the quality of human life. Human capable…

  11. A New Database on Physical Capital Stock: Sources, Methodology, and Results A New Database on Physical Capital Stock: Sources, Methodology, and Results

    Directory of Open Access Journals (Sweden)

    Ashok Dhareshwar

    1993-03-01

    Full Text Available A New Database on Physical Capital Stock: Sources, Methodology, and Results This paper describes the derivation of a new database of physical capital stock estimates for a selected group of 92 developing and industrial countries from 1960 to 1990 (of which 68 are from develouing countries. This work is part of a large research effort to analyze the sources of growth in developing countries and assess the effects of changes in the international economic environment on developing countries prospects. A special effort was made to compile investment series from 1950 onward for as many countries as possible and these were then aggregated according to a perpetual inventory method. In addition, various techniques were evaluated for the estimation of an initial capital stock and a modified Harberger approach was considered most suitable. The derived capital stock series prepared for this paper were compared to other capital stock series prepared by other researchers. The tests show the series correlated well with the results of most other similar exercises. The capital stock estimates were used to calculate median-capital output ratios and aggregate growth rates of the capital stock by country group; again, the results seem reasonable and consistent with our prior understanding of the relevant developing regions. Finally, the capital stock series were used to calculate total factor productivity growth rates using a constant returns to scale Cobb-Douglas production function with imposed factor shares. The results of this exercise were presented both on a regional basis as well as against per capita income in 1960 and were found to be consistent with the findings of other researchers.

  12. Human capital and career success

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Kato, Takao

    Denmark’s registry data provide accurate and complete career history data along with detailed personal characteristics (e.g., education, gender, work experience, tenure and others) for the population of Danish workers longitudinally. By using such data from 1992 to 2002, we provide rigorous...... evidence for the first time for the population of workers in an entire economy (as opposed to case study evidence) on the effects of the nature and scope of human capital on career success (measured by appointments to top management). First, we confirm the beneficial effect of acquiring general human...... capital formally through schooling for career success, as well as the gender gap in career success rates. Second, broadening the scope of human capital by experiencing various occupations (becoming a generalist) is found to be advantageous for career success. Third, initial human capital earned through...

  13. 26 CFR 1.58-8 - Capital gains and stock options.

    Science.gov (United States)

    2010-04-01

    ... restricted stock option (under section 422 or section 424); and (2) In the case of capital gains, to gain... gain or stock option item of tax preference is attributable to sources within any foreign country or... applied. Thus, the stock option item of tax preference, representing compensation for personal...

  14. Human Capital and Optimal Positive Taxation of Capital Income

    OpenAIRE

    Jacobs, B.; Bovenberg, A.L.

    2005-01-01

    This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel of human capital investment, financial savings, and labor supply with heteroge-nous individuals. A dual income tax with a positive marginal tax rate on not onlylabor income but also capital income is optimal. The positive tax on capital incomeserves to alleviate the distortions of the labor tax on human capital accumulation.The optimal marginal tax rate on capital income is lower than that on labor inco...

  15. Human Capital Investment and the Value of Risky R&D Projects

    DEFF Research Database (Denmark)

    Dockner, Engelbert; Siyahhan, Baran

    We consider a firm that employs human capital to make a technological breakthrough. Since the probability of success of the breakthrough depends on the current stock of human capital the firm has an incentive to expand its human capital stock. The present value of the patent is stochastic but can...... consequences, and derive optimal investment in the stock of human capital. While optimal investment in human capital is very sensitive to its productivity do increase the probability of a breakthrough it is insensitive to changes in the volatility of the present value of the patent. The value of the firm...... be observed during the R&D phase of the project. The exogenous value of the patent determines the firm’s decisions to invest in human capital, to abandon the project if necessary, and to invest in marketing the new product. We study the corresponding optimal stopping times, determine their value and risk...

  16. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-10-01

    Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency.

  17. PERCEPTION OF CAPITAL, PROFIT AND DIVIDENDS AFFECT THE STOCK PURCHASE INTENTION IN INDONESIA PUBLIC COMPANY

    Directory of Open Access Journals (Sweden)

    Iskandar Muda

    2017-05-01

    Full Text Available This study aims to investigate the influence perception of Capital Gains and Dividends on Stock Purchase Intention in Indonesian companies. Variables used in this research are the capital, profit and dividends (independent variables and Stock Purchase Intention (dependent variable and to show their relationship, it was used multiple linear regression. This research included Manufacturing Companies listed on the Indonesia Stock Exchange and there were taken into account a number of 38 societies Data of this research are secondary data, obtained from the financial statements of the investigated companies published in the Indonesia Stock Exchange. The results showed that simultaneous independent variables have a significant influence on the capital structure, while partially effect on the Capital Shares Purchase Intentions. It was also shown that Profit and Dividends do not affect the Stock Purchase Intention.

  18. The relationships between stock market capitalization rate and interest rate: Evidence from Jordan

    Directory of Open Access Journals (Sweden)

    Mohammad Jaradat

    2010-07-01

    Full Text Available The paper examines the effect of interest rates on the stock market capitalization rate in AmmanStock Exchange (ASE over the period 1999-2008. Based on the multiple linear regression modeland simple regression model, the time series analysis revealed that there is significant and positiverelationship between government prevailing interest rate (R and stock market capitalization rate(S. The study shows that Government development stock rate (D exerts negative influence onstock market capitalization rate (S, also it finds a significant and negative relationship betweengovernment prevailing interest rate (R and Government development stock rate (D. Finally, thisstudy suggests the importance of government intervention to encourage investment in ASE byreducing rate of personal taxation thus, granting incentive for creation of wealth, controllinginterest rate so as to aid the growth of the stock market and improving the regulatory environmentand decreasing red tape.

  19. Human Capital and Optimal Positive Taxation of Capital Income

    NARCIS (Netherlands)

    B. Jacobs (Bas); A.L. Bovenberg (Lans)

    2005-01-01

    textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital inco

  20. Human Capital and Optimal Positive Taxation of Capital Income

    NARCIS (Netherlands)

    B. Jacobs (Bas); A.L. Bovenberg (Lans)

    2005-01-01

    textabstractThis paper analyzes optimal linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heteroge- nous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also capital inco

  1. Capital humano y capacidad humana Human capital and human capacity

    Directory of Open Access Journals (Sweden)

    Sen Amartya Kumar

    1998-12-01

    Full Text Available En este articulo se examinan las relaciones y diferencias entre el concepto de 'capital humano' y el concepto de 'capacidad humana'. El concepto de capital humano es mas limitado puesto que solo concibe las cualidades humanas en su relación con el crecimiento económico mientras que el concepto de capacidades da énfasis a la expansión de libertad humana para vivir el tipo de vida que la gente considera valedera. Cuando se adopta esa visión mas amplia, el proceso de desarrollo no puede verse simplemente como un incremento del PIB sino como la expansión de la capacidad humana para llevar una vida mas libre y mas digna.In this article the relationships and the differences between the concept of 'human capital' and the concept of 'human capability' are examined. The concept of human capital is more limited since it only conceives human qualities in relation to economic growth, whereas the concept of capabili ties puts emphasis on the expansion of human freedom to live the kind of life that people judge valuable. Whenthis broader vision is adopted, the process of development cannot be seen as simply an increase in the GNP, but rather as the expansion of the human capability to live a more free and worthy life.

  2. WORKING CAPITAL MANAGEMENT, PROFITABILITY AND RISK – ANALYSE OF COMPANIES LISTED ON THE WARSAW STOCK EXCHANGE

    OpenAIRE

    Bolek, Monika

    2014-01-01

    This paper presents the problem of working capital management, profitability and risk represented by working capital strategy. According to the theory the more working capital is engaged in the company resulting in higher liquidity the lower the profitability and risk connected to the liquidity. On the other hand we can expect that the lower the working capital level and hence the liquidity the higher the profitability and risk., The author decided to test companies listed on the Warsaw Stock...

  3. Health, Human Capital, and Development.

    Science.gov (United States)

    Bleakley, Hoyt

    2010-09-01

    How much does disease depress development in human capital and income around the world? I discuss a range of micro evidence, which finds that health is both human capital itself and an input to producing other forms of human capital. I use a standard model to integrate these results, and suggest a re-interpretation of much of the micro literature. I then discuss the aggregate implications of micro estimates, but note the complications in extrapolating to general equilibrium, especially because of health's effect on population size. I also review the macro evidence on this topic, which consists of either cross-country comparisons or measuring responses to health shocks. Micro estimates are 1-2 orders of magnitude smaller than the cross-country relationship, but nevertheless imply high benefit-to-cost ratios from improving certain forms of health.

  4. Health, Human Capital, and Development*

    Science.gov (United States)

    Bleakley, Hoyt

    2013-01-01

    How much does disease depress development in human capital and income around the world? I discuss a range of micro evidence, which finds that health is both human capital itself and an input to producing other forms of human capital. I use a standard model to integrate these results, and suggest a re-interpretation of much of the micro literature. I then discuss the aggregate implications of micro estimates, but note the complications in extrapolating to general equilibrium, especially because of health’s effect on population size. I also review the macro evidence on this topic, which consists of either cross-country comparisons or measuring responses to health shocks. Micro estimates are 1–2 orders of magnitude smaller than the cross-country relationship, but nevertheless imply high benefit-to-cost ratios from improving certain forms of health. PMID:24147187

  5. Financing Human Capital: Families & Society

    Directory of Open Access Journals (Sweden)

    Neantro Saavedra-Rivano

    2016-10-01

    Full Text Available The Organization for Economic Cooperation and Development (OECD describes human capital as “knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of personal, social and economic wellbeing.”* It follows from this interpretation that investment in human capital includes the sum of all costs that allow a new being to reach economic autonomy. In this paper we analyze the family and social dimensions of human capital and discuss how decisions on human capital formation are taken and how its associated costs are shared. The discussion leads us to identify an important paradox underlying human capital formation, namely the fact that while families are its main contributors the benefits of such investment go primarily to society as a whole. This paradox and its consequences are central to two very important current issues. The first issue, one that is common to many developed countries, is low female fertility which is the source, in particular, of population aging. The second issue, affecting chiefly developing countries, is the inequality of opportunities, a problem lying at the root of underdevelopment. Two options are discussed to respond to this dilemma, one based on redistributive programs and another on market solutions. The paper discusses the limits inherent to redistributive programs and goes on to present at length the alternative market solution. In a nutshell this consists of securitizing the human capital of individuals so as to finance the expenses leading to their upbringing, from birth to adulthood. In addition to describing this scheme the paper analyzes its advantages as well as the difficulties associated with its implementation. It concludes by exploring possible interpretations of the scheme and feasible routes for its adoption.

  6. Human Capital and Economic Growth : Operationalising Growth Theory, with Special Reference to the Netherlands in the 19th Century"

    NARCIS (Netherlands)

    Albers, Ronald

    1997-01-01

    This paper presents new estimates of the stock of human capital in the Netherlands between 1800 and 1913. The estimates of human capital are derived from data on primary, secondary and tertiary schooling. It is argued that the measure of human capital presented here is conceptually better than alter

  7. Definition and Content Interpretation of Human Capital

    Directory of Open Access Journals (Sweden)

    Verhoglyadova N. I.

    2006-01-01

    Full Text Available The article is devoted to researching the nature of human capital, its internal structure, comparative characteristics of human capital and other economic categories; factors of its forming under present conditions of transformations in the economy of Ukraine.

  8. Human Capital Tracking Tool -

    Data.gov (United States)

    Department of Transportation — AVS is now required to collect, track, and report on data from the following Flight, Business and Workforce Plan. The Human Resource Management’s Performance Target...

  9. Capital stock in Spain and its distribution by territories (1964-2012

    Directory of Open Access Journals (Sweden)

    Matilde Mas

    2015-02-01

    Full Text Available Since 1995 the BBVA Foundation and the Ivie have been conducting an extensive research program on Spanish economic growth. The regularly-updated database "Capital stock in Spain and its distribution by territories" are the basis of this program, providing information on the accumulation of capital in Spain over the last four decades..

  10. Do Colleges and Universities Increase Their Region's Human Capital? Staff Report No. 401

    Science.gov (United States)

    Abel, Jaison R.; Deitz, Richard

    2009-01-01

    We investigate whether the degree production and research and development (R&D) activities of colleges and universities are related to the amount and types of human capital present in the metropolitan areas where the institutions are located. We find that degree production has only a small positive relationship with local stocks of human capital,…

  11. Human Capital and Organizational Effectiveness

    Directory of Open Access Journals (Sweden)

    Ioana Julieta Josan

    2013-05-01

    Full Text Available The new organizational changes caused by social, economic and politic reforms led to a shift in the strategic management of the companies. The growing need for professionals, who know how to generate profits, is growing and increase confidence of partners and clients, find new ideas and adapt to a dynamic market. Therefore, internally, we need an efficient management of human resources to find and retain the most suitable and efficient people which will increase productivity and face the increased acting globally competition. Currently, companies that succeed are the ones that integrate in their business strategy, an important component of development and valuation human capital. The paper aims to analyze and highlight the importance of human capital in the new organizational strategies, focused on achieving a high level of competitiveness, innovation and excellence.

  12. Human Capital Development: A Family Objective.

    Science.gov (United States)

    Hildebrand, Verna

    1995-01-01

    Examines the concept of human capital as an economic construct. Suggests that human capital contributes to economic development, as do physical capital or natural resources, in that its development reinforces individuals' future economic output. Suggests that this perspective may prove useful for human service professionals because funding…

  13. Heterogeneity of Human Capital and the Return

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer

    2015-01-01

    Human capital is an important growth factor for developing and developed countries and measuring the return to education is essential in evaluating the growth impact from human capital. Most studies use the length of education measured by the years of schooling as an indicator of human capital...

  14. LABOUR PRODUCTIVITY AND HUMAN CAPITAL IN THE EU COUNTRIES:AN EMPIRICAL ANALYS

    Directory of Open Access Journals (Sweden)

    NEAGU OLIMPIA

    2012-07-01

    Full Text Available The role of the human capital in the economy is highlighted in several studies of human capital, endonegneous growth and macroeconomic literature. A special part of this literature is dedicated to the mechanism and the various channels through wich human capital influences economic growth. As expression of the macroeconomic performance, the labour productivity depends on the accumulation of human capital in the economy. To analyze and discuss this dependency is essential for appropriate human capital policies aiming to stimulate the human capital accumulation in the economy and the enhancement of the labour productivity. The paper explores the link between labour productivity and the estimates of the human capital stock in the EU countries. Human capital theory explains the labour productivity level by the workers' level of educational attainment level. Four different effects of human capital on labour productivity can be found in economic literature: worker, allocative, difusion and research. Other researchers used a production function to estimate the productivity impact of changes in educational attainment. Research on the impact of human capital on productivity at the country level encountered many difficulties over the years. The main methodological issue is how to measure skills and human capital investment and to model possible channels of skills of influence the economic performance. The UNESCO attainment levels and enrollment series and other data sets, constructed by researchers, have been used in a large number of empirical studies of the link between education and productivity. What is innovative in the present study is the estimation of human capital stock based on educational costs by level(primary, secondary, tertiary weighted by the proportion of labour force with corresponding educational attainment and the testing of linear regression model for the dependency of labour productivity on human capital stock. The assumption of the

  15. The Necessity of the Development of the Human Capital Concept

    Directory of Open Access Journals (Sweden)

    Alexandru Trifu

    2012-06-01

    Full Text Available Human Capital is considered an investment, but of a special and qualitative kind. We emphasize that there are levels of defining the concept: investments in health, education, training and specializing, and the upper level, the stock of skills, talent, knowledge, embodied in the human personality as a participant to the economic, social, cultural, activities; micro and macro approaches. In this period, we can speak about a global overview regarding the two or more levels of human capital. This is mostly pointed when discussing the educational and the health capital and, on the other hand, the biological capital. We have to understand the concept in the inter-relation between the two levels and with the business and natural environments. Important is the causal chain in the construction of Human Capital: investments in health care and education → the impulse to ensure the formation and the modeling of the capabilities, skills and other specific biological stocks → the effective action of labour power, creating new values added → economic development within a structure (in our case, EU.

  16. Human capital and optimal positive taxation of capital income

    NARCIS (Netherlands)

    B. Jacobs (Bas); A.L. Bovenberg (Lans)

    2010-01-01

    textabstractThis paper analyzes optimal linear and non-linear taxes on capital and labor incomes in a life-cycle model of human capital investment, financial savings, and labor supply with heterogenous individuals. A dual income tax with a positive marginal tax rate on not only labor income but also

  17. Human Capital, Fertility and Growth

    OpenAIRE

    Galor, Oded

    2006-01-01

    The demographic transition that swept the world in the past 140 years has been identified as one of the prime forces in the transition from stagnation to growth. The unprecedented increase in population growth during the early stages of industrialization was ultimately reversed. The rise in the demand for human capital in the second phase of industrialization brought about a significant reduction in fertility rates and population growth in various regions of the world, enabling economies to c...

  18. Testing the Capital Asset Pricing Model (CAPM) on the Uganda Stock Exchange

    OpenAIRE

    David Wakyiku

    2010-01-01

    This paper examines the validity of the Capital Asset Pricing Model (CAPM) on the Ugandan stock market using monthly stock returns from 10 of the 11 companies listed on the Uganda Stock Exchange (USE), for the period 1st March 2007 to 10th November 2009. Due to the absence of readily available Uganda Stock Exchange(USE) data, and the placement of daily price lists in pdf only, on the USE website: http://www.use.or.ug, the article also discusses the procedures taken to mine the data needed. Th...

  19. Energy-income causality in OECD countries revisited: The key role of capital stock

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Chien-Chiang [Department of Applied Economics, National Chung Hsing University, Taichung (China); Chang, Chun-Ping [Department of Business Administration, Shih Chien University Kaohsiung Campus, Kaohsiung (China); Chen, Pei-Fen [Department of International Business, National Chi Nan University, Taiwan, Nantou (China)

    2008-09-15

    This paper applies a recent advance in panel analysis to estimate the panel cointegration and panel vector error correction models for a set of 22 OECD countries using annual data covering the period 1960-2001. We investigate the relationship between energy consumption and income using an aggregate production function and controlling for the capital stock, as well as by exploring the dynamic directions of the causality among these three variables. We firstly obtain solid and convincing evidence of a fairly strong long-run equilibrium relationship among them. Secondly, it is found that the capital stock is much more productive than energy consumption. Third, it is observed that neglecting the impact of the capital stock on income tends to overestimate the effect of energy consumption. Finally, the panel causality test shows bi-directional causal linkages exist among energy consumption, the capital stock and economic growth. Overall, the findings reveal that the capital stock plays a critical role in realizing the dynamic relationship between energy and income. (author)

  20. Review of Relationship between Capital and Stock Return in Automotive and Cement Industries at Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Gholamhossein Gholami

    2012-04-01

    Full Text Available This study is intended to consider relationship between Increase of capital and Shares return in Automotive and Cement industries at Tehran Stocks Exchange. Statistical population under this study consists of any related companies to Automotive and Cement industries which were accepted in Tehran Stocks Exchange during 2005 to 2010. The Statistical population has been divided to experimental and control group, while experimental group faced with increase in capital the other group was not; 27 companies from first group and 12 companies of second group were chosen as statistical samples under this study. Student’s T-test and paired T-test were utilized in order to test hypotheses of this study and 19SPSS software was applied for analyzing data. Results have indicated increase in capital is not positive factor to increase in shares return. On the other hand, there is no impact of increasing in capital on shares return in the companies of Automotive and Cement industries which were accepted at Tehran Stocks Exchange.

  1. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    Directory of Open Access Journals (Sweden)

    Brata Wibawa Djojo

    2010-11-01

    Full Text Available Human capital is a valuable asset of any company, especially for competent human resources and contributes both to the company. The performance evaluation given to employees annually can be defined and standardized by the company. However, the question is how big the contribution of human resources to sales and profit contribution is. Case studies take data from one branch of a general insurance company in Indonesia, Jakarta branch. Measurement is done by taking samples of data from 2007, 2008, and 2009. The study measures the risk of several components: (i Human Capital Revenue Factor, (ii Human Economic Value Added, (iii Human Capital Cost Factor, (iv Human Capital Value Added, and (v Human Capital Return on Investment. Results of research can provide guidelines for the management, especially for management of JLI in view of Human Capital contribution to corporate objectives, namely in terms of staffing and agency. 

  2. Estimating temporary and permanent stock price innovations on Croatian capital market

    Directory of Open Access Journals (Sweden)

    Tihana Škrinjarić

    2014-03-01

    Full Text Available This paper evaluates the size and duration of temporary and permanent stock price innovations on Croatian capital market in the structural VAR (vector autoregression framework with Blanchard and Quah (1989 decomposition. The purpose is to identify the effects of temporary price innovations in order to determine to which extent future stock prices can be predicted. Temporary components present in stock prices are explained throughout the mean-reversion hypothesis. This means that stock prices deviate from the fundamental values, but they will revert to their mean. In that way, to some extent, it is possible to predict future price movements. The results show that for the observed period from January 2000 to September 2013, temporary innovations account for only 2.62% of price variability over a two-year horizon. This means that forecasting the future movements of stock prices on Zagreb Stock Exchange is a difficult task.

  3. STOCKS AS STRUCTURAL COMPONENTS OF ENTERPRISES CALCULATING CAPITAL IN UKRAINE

    Directory of Open Access Journals (Sweden)

    Oleksandr NYKYFORAK

    2014-07-01

    Full Text Available This article explains the purpose of inventory from a scientific point of view. A structural analysis of working capital of enterprises in Ukraine has been carried out and the role and place of inventories has been defined. Reversibility of inventory has been calculated. A discount rate of working capital of Ukrainian entities has been defined.

  4. Stock Splits and Liquidity for Two Major Capital Markets from Central–Eastern Europe

    Directory of Open Access Journals (Sweden)

    Józef Rudnicki

    2012-12-01

    Full Text Available In the stock market there occur some events that contradict the efficient market hypothesis therefore they are called anomalies. One of the mysterious corporate events which has attracted the attention of numerous researchers is a stock split. I perform the review of implications of splitting the stock for market liquidity of companies listed on the Warsaw Stock Exchange and the Vienna Stock Exchange. I use event study, in particular Market model method and Market adjusted return method, to inspect the behavior of abnormal changes in daily trading volume for stock splits performed between 2000 through 2011 over a short run and assuming a longer time interval. Moreover, I juxtapose the results for both stock exchanges to examine whether the stock split phenomenon for two major capital markets from this part of Europe can be better explained by means of existing theories on stock splits. The research is aimed at analyzing the implications of the split for market liquidity, i.e. whether there occurs an immediate effect following the split as well as whether this corporate event improves the level of market liquidity over long run. Furthermore, the goal of the paper is to investigate whether the investors can cash in on the stock split, more specifically, whether they can profit from lower transaction costs. I document a significant growth in the market liquidity of stock splitting firms over 36 months following the split for both capital markets what is indicative of lower transaction costs for investors. The 1–percent significant results are consistent with the liquidity hypothesis on stock splits.

  5. Human Capital Investment and the Value of Risky R&D Projects

    DEFF Research Database (Denmark)

    Dockner, Engelbert; Siyahhan, Baran

    be observed during the R&D phase of the project. The exogenous value of the patent determines the firm’s decisions to invest in human capital, to abandon the project if necessary, and to invest in marketing the new product. We study the corresponding optimal stopping times, determine their value and risk...... is driven by fixed labor costs that occur until the breakthrough is made, the call option to invest in human capital and market the product, and the put option to abandon the project. These options together with labor costs’ based operating leverage determine the risk dynamics. Firm risk is inverse U......We consider a firm that employs human capital to make a technological breakthrough. Since the probability of success of the breakthrough depends on the current stock of human capital the firm has an incentive to expand its human capital stock. The present value of the patent is stochastic but can...

  6. Dynamic Relation between Rural Human Capital and Farmers’Income in Henan Province

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    We use relevant economic and labor force data from 1990 to 2009 of Henan Province to analyze the dynamic relation between stock of rural human capital and farmers’ income.Results indicate that a certain causal relationship and long-run equilibrium relation exist between rural human capital and farmers’ income,but their interaction shows some lagging characteristic.Increase of farmers’ income in Henan Province increases the stock of rural human capital in this province for a short term.However,in the long run,this accumulation effect will decline along with renewal and aging of knowledge.The positive promotion action of rural human capital on farmers’ income will appear after a long lag time.Therefore,the policy of strengthening rural human capital input should be long-term and continuous.

  7. The Determinant Factors Of Sectoral Stock Return In Bullish And Bearish Condition At Indonesian Capital Market

    Directory of Open Access Journals (Sweden)

    Defrizal

    2015-07-01

    Full Text Available Abstract this study aims to explain determinant factors of sectoral stock return in bullish and bearish condition at Indonesian capital market. This study used a multi-factor asset pricing model with sectoral stock return as the dependent variable and stock market return interest rates and exchange rate as independent variables. The Identification of stock market condition by using a Markov Switching Models which are also used as the basis for segmenting the data into bullish and bearish conditions. Estimates of the model used the robust least square method. This study used data from Indonesian Stock Exchange to the observation period from January 1996 to December 2013. The results of this study were 1 simultaneously stock market return interest rates and exchange rate affected the sectoral stock return in bullish and bearish condition. 2 Partially the stock market return positively effect and is as a main factor in determining the sectoral stock return in all industries in either bullish condition or bearish condition while the effect of the interest rates and exchange rate do not consistently affect the sectoral stock return in different industries and market conditions.

  8. PENGEMBANGAN HUMAN CAPITAL DALAM KONTEKS MODAL SOSIAL

    Directory of Open Access Journals (Sweden)

    Widodo Widodo

    2017-03-01

    Full Text Available Rural Banks/BPR have a vitality and sustainability of business if they are able to create a unique advantagethat is superior in terms of customer information and business environment surrounding besides functioningas an intermediary institution. But in Semarang credit quality is still in the high risk level that is above themaximum limit of 5%. The condition is caused by the integration of human capital and social capital that isnot optimal. Therefore, this article aims to examine the model of human capital development so that it canimprove the performance of organization within the context of social capital. Retrieval method uses purposivesampling with 120 total samples. Later analysis technique uses Structural Equation Modelling (SEM throughthe group management data which is processed based on high and low social capital. The study shows that thecontext of high social capital moderates the structure of the equation that affects human capital on organizationalperformance

  9. Credit‐constrained in risky activities? The determinants of the capital stocks of micro and mall firms in Western Africa

    NARCIS (Netherlands)

    S. Lange (Simon); J. Lay (Jann); M. Grimm (Michael)

    2012-01-01

    textabstractMicro and small enterprises (MSEs) in developing countries are typically considered to be severely credit constrained. Additionally, high business risks may partly explain why the capital stocks of MSEs remain low. This article analyzes the determinants of the capital stocks of MSEs in p

  10. Education - an investment in human capital

    Directory of Open Access Journals (Sweden)

    Daniela Neamţu

    2012-12-01

    Full Text Available Formal education, personal abilities and the health state play an important role in this paper. Those are all essential constituent elements of the human capital. In the present paper we intend to present briefly the fundamental concepts of the human capital, with an emphasis on education and abilities. We also mark out the importance of the human capital development in the purpose of maintaining the development and the motivation of the human resources, which are the main premises organizations need to capitalize. The higher education has a determinant role in the attainment of this desideratum.

  11. Access to finance for innovation: the role of venture capital and the stock market

    NARCIS (Netherlands)

    Bogliacino, F.; Lucchese, M.

    2011-01-01

    Financial constraints for young and small firms can prevent them from contributing to innovation and the creation of new jobs. The paper analyzes two of the several institutional mechanisms implemented to overcome that hurdle: the development of the venture capital market and access to the stock

  12. Spatial Analysis Of Human Capital Structures

    Directory of Open Access Journals (Sweden)

    Gajdos Artur

    2014-12-01

    Full Text Available The main purpose of this paper is to analyse the interdependence between labour productivity and the occupational structure of human capital in a spatial cross-section. Research indicates (see Fischer 2009 the possibility to assess the impact of the quality of human capital (measured by means of the level of education on labour productivity in a spatial cross-section.

  13. A Human Capital Approach to Career Advising

    Science.gov (United States)

    Shaffer, Leigh S.; Zalewski, Jacqueline M.

    2011-01-01

    We began this series by addressing the challenges of career advising in a volatile, uncertain, complex, and ambiguous environment. In this article, we define human capital and suggest that advisors encourage students to utilize the principle of maximizing human capital when making decisions. We describe the personal traits and attitudes needed to…

  14. Human Capital Development: Comparative Analysis of BRICs

    Science.gov (United States)

    Ardichvili, Alexandre; Zavyalova, Elena; Minina, Vera

    2012-01-01

    Purpose: The goal of this article is to conduct macro-level analysis of human capital (HC) development strategies, pursued by four countries commonly referred to as BRICs (Brazil, Russia, India, and China). Design/methodology/approach: This analysis is based on comparisons of macro indices of human capital and innovativeness of the economy and a…

  15. Optimal income taxation with endogenous human capital

    NARCIS (Netherlands)

    B. Jacobs

    2005-01-01

    This paper augments the theory of optimal linear income taxation by taking into account human capital accumulation as a dimension of labor supply. The distribution of earning potentials is endogenous because agents differ in the ability to learn. Taxation affects utilization rates of human capital t

  16. Human Capital Composition and Economic Growth

    Science.gov (United States)

    Tsai, Chun-Li; Hung, Ming-Cheng; Harriott, Kevin

    2010-01-01

    The objective of this paper is to analyze the effect of various compositions of human capital on economic growth. We construct alternative measures of human capital composition using five fields of study. In each instance, the measure represents the number of graduates in the respective field as a percentage of all graduates. The measures are as…

  17. A Human Capital Approach to Career Advising

    Science.gov (United States)

    Shaffer, Leigh S.; Zalewski, Jacqueline M.

    2011-01-01

    We began this series by addressing the challenges of career advising in a volatile, uncertain, complex, and ambiguous environment. In this article, we define human capital and suggest that advisors encourage students to utilize the principle of maximizing human capital when making decisions. We describe the personal traits and attitudes needed to…

  18. Human Capital Composition and Economic Growth

    Science.gov (United States)

    Tsai, Chun-Li; Hung, Ming-Cheng; Harriott, Kevin

    2010-01-01

    The objective of this paper is to analyze the effect of various compositions of human capital on economic growth. We construct alternative measures of human capital composition using five fields of study. In each instance, the measure represents the number of graduates in the respective field as a percentage of all graduates. The measures are as…

  19. Human Capital Development: Comparative Analysis of BRICs

    Science.gov (United States)

    Ardichvili, Alexandre; Zavyalova, Elena; Minina, Vera

    2012-01-01

    Purpose: The goal of this article is to conduct macro-level analysis of human capital (HC) development strategies, pursued by four countries commonly referred to as BRICs (Brazil, Russia, India, and China). Design/methodology/approach: This analysis is based on comparisons of macro indices of human capital and innovativeness of the economy and a…

  20. The Impact of Intellectual Capital, Social Capital and Psychological Capital on Competitive Advantage of Vehicle Industries in Tehran Stock Exchange (TSE

    Directory of Open Access Journals (Sweden)

    Saeid Jabbarzadeh Kangarlouei

    2012-01-01

    Full Text Available The purpose of this study is to investigate the impact of intellectual capital (IC, social capital and psychological capital (PC on competitive advantage of vehicle industries in Tehran Stock Exchange (TSE. Considering the features of today world, increasing competitive advantage is absolute challenge of firms because more emphasis on natural resources and relative advantages may not lead to value creation. In this regard, firms should consider competitive advantage and the factors of its creation. The research method of this study is correlation and population consists of four vehicle companies of Bahman Group, Saypa, Irankhodro and Tractorsazi. SPSS software and Pierson coefficient of correlation and multiple regressions are used to test hypotheses. The results of the study show that there is not a significant relationship between IC and competitive advantage. However, there is positive and weak relationship between social capital and competitive advantage. In addition, our findings show that PC explains 13 percent of competitive advantage.

  1. Human capital in low-tech manufacturing

    DEFF Research Database (Denmark)

    Hansen, Teis; Winther, Lars; Hansen, Ronnie Fibæk

    2014-01-01

    capital appears to be equally important for economic development in low-tech industries and, second, that the divide between the large urban regions, especially Copenhagen, and the rest of the country plays the primary role in explaining the geography of human capital. These findings stress the relevance......An essential feature associated with the rise of the knowledge economy has been the increasing focus on the importance of human capital as a precondition for economic growth. Human capital has been found to have a positive impact on the economic growth of high-tech industries, however......, the influence of human capital on the development of low-tech industries is yet to be analysed. This paper provides such an examination of low-tech industries based on an analysis of employment data within manufacturing industries in Denmark in the period 1993–2006. The findings highlight, first, that human...

  2. Do the Firm-level Variables and Human Capital Impact Capital Structure Decisions? A Study of Non-financial Firms in Pakistan

    Directory of Open Access Journals (Sweden)

    Agha Jahanzeb

    2014-12-01

    Full Text Available In this study firm’s capital structure decisions have been tried to examine theoretically and empirically. By testing the determinants of capital structure, i.e., size, tangibility, profitability, growth, non-debt tax shield, business risk and liquidity on firm’s leverage (capital structure decisions have been tried to determine. Size, profitability, non-debt tax shield, liquidity and human capital have been found significant and negatively related to capital structure decisions. Our analysis consists of 176 non-financial Pakistani companies listed on Karachi Stock Exchange over the period of 2003-2012.

  3. STOCK EXCHANGE LISTING INDUCES SOPHISTICATION OF CAPITAL BUDGETING

    OpenAIRE

    Wesley Mendes-da-Silva; Richard Saito

    2014-01-01

    This article compares capital budgeting techniques employed in listed and unlisted companies in Brazil. We surveyed the Chief Financial Officers (CFOs) of 398 listed companies and 300 large unlisted companies, and based on 91 respondents, the results suggest that the CFOs of listed companies tend to use less simplistic methods more often, for example: NPV and CAPM, and that CFOs of unlisted companies are less likely to estimate the cost of equity, despite being large companies. These finding...

  4. HUMAN CAPITAL FLIGHT - ROMANIA’S CASE

    Directory of Open Access Journals (Sweden)

    Magdalena VELCIU

    2016-12-01

    Full Text Available Knowledge, qualifications of workforce and human capital became key factors for progress. Human capital flight transfers not only people but work, knowledge, tangible and intangible capital and development potential. In this article, trying to answer whether Romania is a source country for emigration of highly skilled or well-educated individuals (ie human capital flight I flew over those two dimensions that have traditionally characterized human capital flight namely: shrinking work resource and lossing high educated peoples. Therefore, Romania was faced with decreasing the number of resident population due to the evolution of demographic phenomena with negative projections and declining number of working age population and young educated and highly skilled workers and professionals. This will generate complex problems for economy, labour market, difficulty in finding highly skilled workers, talent shortages etc so it’s critical to monitor the labour migration or brain drain phenomenon.

  5. Human Capital, Wealth, and Renewable Resources

    Directory of Open Access Journals (Sweden)

    Wei-Bin ZHANG

    2014-05-01

    Full Text Available This paper studies dynamic interdependence among physical capital, resource and human capital. We integrate the Solow one-sector growth, Uzawa-Lucas two-sector and some neoclassical growth models with renewable resource models. The economic system consists of the households, production sector, resource sector and education sector. We take account of three ways of improving human capital: Arrow’s learning by producing (Arrow, 1962, Uzawa’s learning by education (Uzawa, 1965, and Zhang’s learning by consuming (Zhang, 2007. The model describes a dynamic interdependence among wealth accumulation, human capital accumulation, resource change, and division of labor under perfect competition. We simulate the model to demonstrate existence of equilibrium points and motion of the dynamic system. We also examine effects of changes in the productivity of the resource sector, the utilization efficiency of human capital, the propensity to receive education, and the propensity to save upon dynamic paths of the system.

  6. Interest Rate Variations and Stock Market Capitalization in Nigeria: An Empirical Analysis

    Directory of Open Access Journals (Sweden)

    Edirin Jeroh

    2012-10-01

    Full Text Available In most economies, variations in interest rates have become a prominent feature both in the long-run and short-run. This study thus examines by means of robust analysis, the effect of the variations in interest rates on the level of stock market capitalization in Nigeria for a period of 29 years (1981 – 2009. Data was obtained from the statistical bulletin of the Central Bank of Nigeria (CBN for the relevant years. The analysis of the data obtained was done with the Ordinary Least Square (OLS method. The results from the study showed that variations in interest rate significantly affect the level of stock market capitalization, thereby suggesting that there is a significant relationship between interest rate variation and the level of stock market capitalization in Nigeria for the period under study. Based on the above, it was recommended that the Government of Nigeria and the appropriate monetary authorities should continue to give serious attention to policies geared towards lending rate in the country, if a desired level of market capitalization must be achieved.

  7. The Relationship Between Intellectual Capital and Firm Value: A Study in Istanbul Stock Exchange

    Directory of Open Access Journals (Sweden)

    Selim CENGİZ

    2013-06-01

    Full Text Available The main purpose of this study is to investigate the relationship between intellectual capital and firm value. The study is significant in that it makes intellectual capital, which is of vital importance in ensuring firms’ sustainability, more apparent and it provides a chance to make comparisons with other studies. The companies operating in energy sector in Borsa Istanbul (abbreviated as BIST, former Istanbul Stock Exchange during the period of 2009-2011, are taken into the scope of analysis. Within this scope, the findings obtained by using “Calculated Intangible Value Management” are compared with firms’ market value/book value practices in order to determine the relationship between intellectual capital and firm value. The findings reveal that energy companies operating in Turkey do not consider their intellectual capital assets important and tangible assets are the main factors affecting business performance.

  8. Dispersion of Human Capital and Economic Growth

    OpenAIRE

    Jungsoo Park

    2004-01-01

    Based on a theoretical consideration of human capital production technology, this study empirically investigates the growth implication of dispersion of population distribution in terms of educational attainment levels. Based on a pooled 5-year interval time-series data set of 94 developed and developing countries for 1960 to 1995, the study finds that dispersion index as well as average index of human capital positively influences productivity growth. Given limited social resources for human...

  9. Employment growth, human capital and educational levels

    DEFF Research Database (Denmark)

    Hansen, Høgni Kalsø; Winther, Lars

    2015-01-01

    human capital in understanding regional growth. We examine to what extent different labour competences and capabilities relate to municipal employment growth using nine stratified, educational categories as proxies for different levels of human capital. Dividing municipalities into four spatial...... categories ranging from the urban to the peripheral, we conclude that there is a strong spatial distinction of educational structures with an urban bias, and that educational categories other than academic human capital can make an important contribution to our understanding of what drives employment growth...

  10. Human and Inhuman Capital, and Schooling

    Directory of Open Access Journals (Sweden)

    Primož Krašovec

    2014-06-01

    Full Text Available Theories of human capital are becoming an increasingly common reference in both newer pedagogical theories as well as political documents, outlining the plans for reforms of science and education. As a part of broader ideology of knowledge society, human capital theories represent ideological legitimation of neoliberal trends in science and education policies. Increased investment in human capital on both social and individual level is supposed to increase the competitiveness of the economy as a whole as well as employability and welfare of individuals. In the first part of the article, we sketch the intellectual history and the socio-political context of the development of theories of human capital. Second part is dedicated to a critique of characteristically neoliberal equalization of labor with capital and of a theory, according to which investment in human capital brings profits to individual workers. In the third part, we outline a general socio-historical dynamics of the development of high-tech capitalism and show that “investments in human capital” and economic innovations do not bring about increased social welfare. In the fourth, final part, we analyze in detail how current educational reforms impact the learning process and working conditions at public universities.

  11. Foreign portfolio capital flows and stock returns: a study of Brazilian listed firms

    Directory of Open Access Journals (Sweden)

    Tiago Rodrigues Loncan

    2015-12-01

    Full Text Available Abstract This study analyzed the effect of foreign portfolio capital flows on stock returns of Brazilian listed firms through a 6-factors APT model, in which an additional risk factor for foreign portfolio capital flows was included. First, an aggregate analysis was conducted. The partial effect of foreign portfolio capital flows on the IBOVESPA index’s returns was statistically significant and positive. Next, a disaggregate analysis was also implemented, in which portfolios of stocks were sorted by sector of economic activity, level of risk and level of corporate governance. Foreign portfolio capitals caused increases in returns especially for sectors related to commodities, industry and cyclical consumption. For the portfolios sorted by risk (in which the stocks’ betas were used as a risk parameter for sorting, foreign capitals increased the returns of mid-high and high beta portfolios, but decreased the returns of low and low-mid beta portfolios. For corporate governance portfolios, the firms listed on the Novo Mercado segment (according to BMF&Bovespa criteria experienced a statistically significant revaluation effect. Overall, the results of the study provide support to the revaluation effect hypothesis.

  12. CAPITAL STRUCTURE, COST OF DEBT AND DIVIDEND PAYOUT OF FIRMS IN NEW YORK AND SHANGHAI STOCK EXCHANGES

    Directory of Open Access Journals (Sweden)

    Jun Jiang

    2013-01-01

    Full Text Available The Study collects panel data of listed firms in New York Stock and Shanghai Stock Exchanges during 1992 to 2008. The data are used to perform panel regression estimates for firms in each stock market. The main purpose is to compare the decision on dividend payout of listed firms in the two stock markets. The results from fixed effect estimates show that factors that can explain dividend payout of firms in New York Stock Exchange poorly explain dividend payout of firms in Shanghai Stock Exchange. This paper adds to the literature in that it provides an evidence of difference in dividend policy of firms between advanced and emerging stock markets. For policymakers in the Chinese economy, implementation of measures to enhance the advancement of bond market is necessary. Additionally, firms in Shanghai Stock Exchange should adjust their capital structure to provide room for investors to diversify and adjust their portfolios of stocks and bonds.

  13. The Educational Asset Market: A Finance Perspective on Human Capital Investment

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Nielsen, Helena Skyt

    2002-01-01

    Like the stock market, the human capital market consists of a wide range of assets, i.e. educations. Each young individual chooses the educational asset that matches his preferred combination of risk and return in terms of future income. A unique register-based data set with exact information...... on type and level of education enables us to focus on the shared features between human capital and stock investments. An innovative finance-labor approach is applied to study the educational asset market. A risk-return trade-off is revealed which is not directly related to the length of education....

  14. A Model of Optimal Allocations of Physical Capital and Human Capital in Three Sectors

    Institute of Scientific and Technical Information of China (English)

    ZHOU Shaobo; XUE Minggao

    2007-01-01

    The paper develops an endogenous economic growth model about allcation of physical and human capital in three sectors. Optimal allocation of physical capital and human capital in three sectors is derived, the fraction of physical and human capital in each sector is positively related. The balanced values and the growth rates at steady state are given under certain conditions.Finally relations between the fractions of human capital and parameters are analyzed elaborately.

  15. Natural resources, redistribution and Human capital formation

    OpenAIRE

    Aguero, Jorge; Balcazar, Carlos Felipe; Maldonado, Stanislao; Ñopo, Hugo

    2016-01-01

    How do resource booms affect human capital accumulation? We exploit time and spatial variation generated by the commodity boom across local governments in Peru to measure the effect of natural resources on human capital formation. We explore the effect of both mining production and tax revenues on test scores, finding a substantial and statistically significant effect for the latter. Transfers to local governments from mining tax revenues are linked to an increase in math test scores of aroun...

  16. Analisis Model Pengukuran Human Capital dalam Organisasi

    Directory of Open Access Journals (Sweden)

    Cecep Hidayat

    2013-11-01

    Full Text Available Measurement of human capital is not an easy to do because it is dynamic and always changing in accordance with the changing circumstances. Determination of dimensions and indicators of measurement needs to consider various factors such as situations and also the research scopes. This article has objectives to review the concepts, dimensions and measurement models of human capital. The research method used was literature study with a major reference source from current journal articles that discuss the measurement of human capital. Results of the study showed that basically the definition set forth in any dimension containing either explicitly or implicitly. In addition, the result indicated that there are three main categories of equality among researchers regarding the definition of human capital which emphasizes on: economic value/productivity, education, and abilities/competencies. The results also showed that the use of definitions, dimensions, and indicators for measurement of human capital depends on the situation, the scope of research, and the size of the organization. The conclusion of the study indicated that the measurement model and determination of dimensions and indicators of human capital measurement will determine the effectiveness of the measurement, and will have an impact on organizational performance.

  17. The measurement of human capital: a multivariate macro-approach

    NARCIS (Netherlands)

    Klomp, J.G.

    2013-01-01

    We examine the human capital status of 123 countries by employing factor analysis on various national human capital indicators for the period 2000–2008 to construct two new measures. The first measure is based on advanced human capital, while the second is based on basic human capital. Our measures

  18. Political Regime and Human Capital: A Cross-Country Analysis

    Science.gov (United States)

    Klomp, Jeroen; de Haan, Jakob

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human capital). In the second step, we estimate the…

  19. Challenges of Research and Human Capital Development in Nigeria

    Science.gov (United States)

    Chikwe, Christian K.; Ogidi, Reuben C.; Nwachukwu, K.

    2015-01-01

    The paper discussed the challenges of research and human capital development in Nigeria. Research and human capital development are critical to the development of any nation. Research facilitates human capital development. A high rating in human capital development indices places a country among the leading countries of the world. The paper…

  20. Political Regime and Human Capital: A Cross-Country Analysis

    Science.gov (United States)

    Klomp, Jeroen; de Haan, Jakob

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human capital). In the second step, we estimate the…

  1. The effect of human capital, social capital, and perceptual values on nascent entrepreneurs' export intentions

    DEFF Research Database (Denmark)

    Christensen, Poul Rind; Evald, Majbritt Rostgaard; Klyver, Kim

    2011-01-01

    This study investigates the influence of human capital, social capital, and cognition on nascent entrepreneurs' export intentions. The results indicate that while human capital and social capital influence the level of intended export, cognitive characteristics, such as self-efficacy and risk...

  2. Human Capital and Knowledge Emergence. Induced Effects of the Global Crisis on Human capital and Innovation

    Directory of Open Access Journals (Sweden)

    Simona Buta

    2014-12-01

    Full Text Available In the global crisis context crossed by organizations and countries in the past six years we assist also at conflicting measures in which regards knowledge, innovation and human capital; for example, countries such as England and France have reduced their costs for education, while Germany and other countries (Australia, Austria, Canada and Norway maintained the same allocations for education. What will be the effects of such measures on human capital in the near future? What are the best human resources policies in companies in the crisis context? Given that the subject of the research is "knowledge and human capital", in this paper we refer to the induced effects of the crisis on human capital and innovation. We will also identify the key steps that can be taken during crisis, and not only, to stimulate human capital.

  3. A study on relationship between capital employed efficiency and operating cash flow: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mohammad Hassani

    2013-04-01

    Full Text Available Capital employed efficiency is one of the intellectual capital components based on value added intellectual capital model. It is calculated by dividing value added on capital employed. Operational cash flow is made from operating activities. It is expected that created value added from capital employed could make more operational cash flow. This paper investigates the relationship between capital employed efficiency and operating cash flow. To test this hypothesis, data has been collected from a sample of 161 firms in Tehran Stock Exchange over the period 2008-2012. Results show that there is a positive and significant relationship between capital employed efficiency and operational cash flow. In other words, more cash flow from operational is created through increasing the amount of value added based on capital employed.

  4. Capital Liberalization and Imperfect Substitutability between Bonds and Stocks: Reexamination of the Mundell-Fleming Model

    Directory of Open Access Journals (Sweden)

    Tae-Joon Kim

    2002-06-01

    Full Text Available This paper analyzes the effects of macroeconomic policies and foreign shocks on the stability of a small open economy, in which equity investment is more crucial than debt investment. The key assumption of our model is that stocks and bonds are imperfect substitutes. Accordingly, financial market equilibrium in our model is achieved only when both money and stock markets are simultaneously in equilibrium. In contrast to the Mundell-Fleming model, fiscal policy is relatively effective under the flexible exchange rate regime, while monetary policy is relatively effective under the fixed exchange rate regime. In the case of foreign shocks such as hike of world interest rates, the flexible exchange rate regime appears more effective in stabilizing the economy because the flexible exchange rate functions as a shock absorber. The empirical evidence from the Korean economy during 1998:4- 2000:11 supports these findings. After the 1997 currency crisis, the Korean monetary authorities adopted the independently floating exchange regime and fully liberalized the capital account. Using a vector autoregressive model consisting of money stock, interest rate, balance of payments and exchange rate, we analyze the effect of an expansionary monetary policy. An increase in money supply decreases the domestic interest rates but the balance of payments turns into surplus. This result confirms that the higher rates of return on equity results in net capital inflows, in spite of lower domestic interest rates, and thus appreciates the domestic currency.

  5. Human Capital, Technology, and Economic Growth

    Directory of Open Access Journals (Sweden)

    Chindo Sulaiman

    2015-11-01

    Full Text Available This article investigated the impact of human capital and technology on economic growth in Nigeria. We employed annual time series data for the period of 35 years (1975-2010 and applied autoregressive distributed lag approach to cointegration to examine the relationship between human capital, technology, and economic growth. Two proxies of human capital (secondary and tertiary school enrollments were used in two separate models. The cointegration result revealed that all the variables in the two separate models were cointegrated. Furthermore, the results of the two estimated models showed that human capital in form in secondary and tertiary school enrollments have had significant positive impact on economic growth. More so, technology also shows significant positive impact on economic growth. In a nutshell, both human capital and technology are important determinants of growth in Nigeria. Therefore, improvement of the educational sector and more funding for research and development (R&D to encourage innovations are needed to facilitate Nigeria’s sustained economic growth.

  6. A Human Capital Framework for a Stronger Teacher Workforce. Advancing Teaching--Improving Learning. White Paper

    Science.gov (United States)

    Myung, Jeannie; Martinez, Krissia; Nordstrum, Lee

    2013-01-01

    Building a stronger teacher workforce requires the thoughtful orchestration of multiple processes working together in a human capital system. This white paper presents a framework that can be used to take stock of current efforts to enhance the teacher workforce in school districts or educational organizations, as well as their underlying theories…

  7. TESTING THE WEAK-FORM EFFICIENCY OF THE ROMANIAN CAPITAL MARKET BY ASSESSING THE RANDOM WALK-LIKE BEHAVIOUR OF STOCK PRICES

    National Research Council Canada - National Science Library

    PAŞCA LUCIAN

    2015-01-01

    This paper attempts to test the efficiency of the Romanian Capital Market by assessing some basic statistical properties of prices for the ten most liquid stocks listed on the Bucharest Stock Exchange...

  8. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

    Lack of primary schooling among rural children in developing countries is often attributed to credit constraints and household demand for child labour, implying that direct and indirect costs of schooling are high. Surprisingly few studies have considered the importance of parents' expected returns...... of investing in their childrens human capital, despite the fact that most parents rely on their children for old-age support and subsistence. In this paper, I propose an alternative model for human capital investment based on the household, rather than the individual child, incorporating the fact that parents...... bear the costs of educating all their children and face uncertainty about the level and share of future returns. This uncertainty can make it optimal for parents to ensure a certain degree of human capital diversification within the household. The model implications allow me to test whether...

  9. Intermarket Technical Research of the U.S. Capital Markets and the Czech Stock Market Performance

    Directory of Open Access Journals (Sweden)

    Jana Vychytilová

    2014-01-01

    Full Text Available Globalization of the capital markets increasingly leads the investors to understand the fundamentals and technicals of asset cross-correlations and the global asset allocation seems to be an important task. The paper measures product momentum correlations between the four leading global benchmarks Standard & Poor’s stock index, Thomson Reuters/Jefferies CRB index, 30-Year U.S. Treasury Bond Price index and Dollar Index and between these indices and the Czech stock PX index. Empirical results illustrate that statistically significant correlations between U.S. indices existed over some past period at the 95.0% confidence level. In addition, the significant relation between indices Standard & Poor’s stock index, Thomson Reuters/Jefferies CRB index and the Czech stock market PX during the past fifteen years has been detected. These conclusions were reached from an analysis of monthly data in the United States and the Czech Republic, from January 1999 to April 2014. The empirical results offer beneficial applications not only for investors to diversify their risk but also for policy-makers to allocate resources more efficiently.

  10. Human Capital Diversification within the Household

    DEFF Research Database (Denmark)

    Lilleør, Helene Bie

    bear the costs of educating all their children and face uncertainty about the level and share of future returns. This uncertainty can make it optimal for parents to ensure a certain degree of human capital diversification within the household. The model implications allow me to test whether...... it is the need for diversification or the costs of schooling that dominate the human capital investment decision in rural households. Using extraordinary long panel data from a rural region in Northwestern Tanzania, I find strong empirical evidence of diversification effects for rural sons, but not for rural...

  11. Human capital in the entrepreneurship ecosystem

    DEFF Research Database (Denmark)

    Østergaard, Annemarie; Marinova, Svetla Trifonova

    2017-01-01

    and activities when dealing with entrepreneurship and entrepreneurs. Along these lines, this paper focuses on an in-depth investigation of the domain of human capital in Isenberg's entrepreneurship ecosystem. It captures the entrepreneurial mindset of the highly complex individual as a requisite...... for entrepreneurial success and ultimately, for business growth and development. The increasing literature debating human capital confirms the relevance of locating and refining the factors for entrepreneurial success. Consequently, this paper improves the roadmap of entrepreneurship ecosystems by adding the innate...

  12. Intellectual Capital dan Keunggulan Kompetitif (Studi Empiris Perusahaan Manufaktur versi Jakarta Stock Industrial Classification-JASICA

    Directory of Open Access Journals (Sweden)

    Agnes Utari Widyaningdyah

    2013-01-01

    Full Text Available This research investigates the differences on value added and intellectual capital (IC efficiency of the companies with sustained and un-sustained competitive advantage. This research uses manufacturing companies listed on Indonesia Stock Exchange during 2009-2011 according to JASICA version. This research indicates that the value creation (proxied by value added intellectual coefficient-VAICTM and IC efficiency (proxied by intellectual capital efficiency-ICE of companies with sustained competitive advantage significantly different from companies with unsustained competitive advantage. This finding supports the Resource-based Theory which asserts that company with sustained competitive advantage has an ability to create value for its stakeholder and manages its VRIN (Valuable, Rare, Inimitable, and Non-substitutable strategic assets efficiently.

  13. Changing domains in human capital measurement

    Directory of Open Access Journals (Sweden)

    Pharny D. Chrysler-Fox

    2014-02-01

    Full Text Available Orientation: The management context is dynamic; this is especially evident in human capital as the primary source of value creation as opposed to physical and natural resources. In response, measurement methodologies have moved from a transactional approach (strategy implementation to a transformational approach (human capital contribution paradigm, as well as diverging into different purposes. To date, there has been little overlap on recent domains to consider in managing and measuring the contribution of the human resource function and employees, and how to unlock and add value.Research purpose: The aim of the study was to explore and describe changing domains within human capital management to be managed and measured.Motivation for the study: The motivation was to advance the understanding of changing measurement domains to aid practitioners to manage and measure the contribution of the human resource function and employees, in order to unlock and add value and ultimately contribute to the success of an organisation.Research design, approach and method: Unstructured, in-depth interview data of purposively selected cases from a selected panel of human resource practitioners specialising in human capital measurement was thematically analysed in this exploratory-descriptive investigation.Main findings: Findings suggested that seven domains should be managed and measured. These domains highlight new areas of impact and levels of management. In addition, crossdomain relationships in measurement allow for an understanding of the impact and potential value on which to capitalise.Practical/managerial implications: New domains to manage and measure focus the attention of practitioners beyond the transactional performance management paradigm to a transformational approach to influence the business strategy. Higher education institutions need to develop students’ cognitive skills to facilitate systems thinking.Contribution: This study suggests a new

  14. Mengukur Kontribusi Human Capital terhadap Tujuan Perusahaan

    OpenAIRE

    Brata Wibawa Djojo

    2010-01-01

    Human capital is a valuable asset of any company, especially for competent human resources and contributes both to the company. The performance evaluation given to employees annually can be defined and standardized by the company. However, the question is how big the contribution of human resources to sales and profit contribution is. Case studies take data from one branch of a general insurance company in Indonesia, Jakarta branch. Measurement is done by taking samples of data from 2007, 200...

  15. Human Capital Investment and the Completion of Risky R&D Projects

    DEFF Research Database (Denmark)

    Siyahhan, Baran; Engelbert, Dockner

    2010-01-01

    but can be observed during the R&D phase of the project. The exogenous value of the patent determines the firm’s decisions to invest in human capital, to abandon the project if nec- essary, and to invest in marketing the new product. We study the corresponding optimal stopping times, determine their value...... of the firm is driven by fixed labor costs that occur until the breakthrough is made, the call option to invest in human capital and market the product, and the put option to abandon the project. These options together with labor costs’ based operating leverage determine the risk dynamics. Risk varies non...... and risk consequences, and derive optimal investment in the stock of human capital. While optimal investment in human capital is very sensitive to its productivity do increase the probability of a breakthrough it is insensitive to changes in the volatility of the present value of the patent. The value...

  16. EFFECT OF HUMAN CAPITAL ON MAIZE PRODUCTIVITY IN GHANA: A QUANTILE REGRESSION APPROACH

    Directory of Open Access Journals (Sweden)

    Isaac Nyamekye

    2016-04-01

    Full Text Available Agriculture continues to play an important role in the economy of most African countries. Thus, productivity growth in agriculture is necessary for economic growth and poverty reduction of the region. While, theoretically, investing in human capital improves productivity, the empirical evidence is somewhat mixed, especially in developing countries. In Ghana, maize is associated with household food security, and low-income households are considered food insecure if they have no maize in stock. But, due to low productivity, Ghanaian farmers are yet to produce enough to meet local demand. Using quantile and OLS regression techniques, this study contributes to the literature on human capital and productivity by assessing the effect of human capital (captured by education, farming experience and access to extension services on maize productivity in Ghana. The results suggest that although human capital has no significant effect on maize yields, its effect on productivity varies across quantiles.

  17. Human Capital Theory: A Holistic Criticism

    Science.gov (United States)

    Tan, Emrullah

    2014-01-01

    Human capital theory has had a profound impact on a range of disciplines from economics to education and sociology. The theory has always been the subject of bitter criticisms from the very beginning, but it has comfortably survived and expanded its influence over other research disciplines. Not surprisingly, a considerable number of criticisms…

  18. Optimal Taxation of Risky Human Capital

    NARCIS (Netherlands)

    B. Jacobs (Bas); D. Schindler (Dirk); H. Yang (Hongyan)

    2009-01-01

    textabstractIn a model with ex-ante homogenous households, earnings risk and a general earnings function, we derive the optimal linear labor tax rate and optimal linear education subsidies. The optimal income tax trades off social insurance against incentives to work and to invest in human capital.

  19. Earnings progression, human capital and incentives

    DEFF Research Database (Denmark)

    Frederiksen, Anders

    progression by investigating the effects of on-the-job human capital acquisition, explicit short-run incentives and career concern incentives on earnings progression. The model leads to predictions about the incentive structure and the progression in both cross-sectional and individual earnings which...

  20. Human Capital Development Policies: Enhancing Employees Satisfaction

    Science.gov (United States)

    Wan, Hooi Lan

    2007-01-01

    Purpose--The aim of this article is to gain insight into some of the human capital development (HCD) policies that enhance employee satisfaction. A salient focus of the study is to assess whether employees in globalised foreign-owned MNCs are likely to be more satisfied with the HCD policies than with the practices employed by locally owned MNCs.…

  1. Earnings progression, human capital and incentives

    DEFF Research Database (Denmark)

    Frederiksen, Anders

    progression by investigating the effects of on-the-job human capital acquisition, explicit short-run incentives and career concern incentives on earnings progression. The model leads to predictions about the incentive structure and the progression in both cross-sectional and individual earnings which...

  2. Human Capital Theory: A Holistic Criticism

    Science.gov (United States)

    Tan, Emrullah

    2014-01-01

    Human capital theory has had a profound impact on a range of disciplines from economics to education and sociology. The theory has always been the subject of bitter criticisms from the very beginning, but it has comfortably survived and expanded its influence over other research disciplines. Not surprisingly, a considerable number of criticisms…

  3. Political regime and human capital : A cross-country analysis

    NARCIS (Netherlands)

    Klomp, J.G.; de Haan, J.

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human ca

  4. Political regime and human capital: A cross-country analysis

    NARCIS (Netherlands)

    Klomp, J.G.; Haan, de J.

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human ca

  5. Political regime and human capital : A cross-country analysis

    NARCIS (Netherlands)

    Klomp, J.G.; de Haan, J.

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human ca

  6. Political regime and human capital: A cross-country analysis

    NARCIS (Netherlands)

    Klomp, J.G.; Haan, de J.

    2013-01-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human ca

  7. Study on Human Capital Valve Quantity Model and Investment Featuers

    Institute of Scientific and Technical Information of China (English)

    Chen Peian; Li Yujiang; Li Zhen

    2005-01-01

    In this paper, human capital is considered a kind of goods in terms of investment. Basic consumption and profit margin are the two important components of human capital goods value. Compared with that of the material capital, the human capital consumption has the following features.The importance of human capital investment determined by the supply-demand mechanism, is growing gradually; The course of investment and return takes a long period of time; Human capital is characterized by strong technicality and weak negotiability; The investment profit margin is changeable and discriminating.

  8. THE IMPORTANCE OF HUMAN CAPITAL IN THE STRATEGIC DEVELOPMENT OF AN ORGANIZATION

    Directory of Open Access Journals (Sweden)

    Adriana Grigorescu

    2016-07-01

    Full Text Available In this new world where the level of information has reached overwhelming thanks to new technologies , the human capital embodied in a stock value, skill and knowledge, becomes the main factor of production in the new economy. In this paper I have tried to emphasize that, this relatively new concept such as human capital has become the main motor of organizational development, representing one of the most important advantages of firms to work properly in their environments. The economic growth is conditioned by human capital development; current trends are changing and organizations change their outward form of thought and action and they enhance their human capital (this intangible asset too little highlighted and measured from the desire of being more flexible and easily assimilated by the market in the future. For modern companies, human capital has become a “golden coin” with 2 sides called: 1 capability (the ability to provide solutions to customers through knowledge, skills, know-how, and talent; 2 attitude (the ability to profitably use these values of the organization. In conclusion, human capital is measured using IQ and the productivity of modern economies depend largely on investment in knowledge and skills, although statistics in Romania do not include costs and expenses of human capital.

  9. FDI, Human Capital and Income Convergence

    DEFF Research Database (Denmark)

    Völlmecke, Dominik; Jindra, Björn; Marek, Philipp

    2016-01-01

    This study examines income convergence in regional GDP per capita for a sample of 269 regions within the European Union (EU) between 2003 and 2010. We use an endogenous broad capital model based on foreign direct investment (FDI) induced agglomeration economies and human capital. By applying...... a Markov chain approach to a new dataset that exploits micro-aggregated sub-national FDI statistics, the analysis provides insights into regional income growth dynamics within the EU. Our results indicate a weak process of overall income convergence across EU regions. This does not apply to the dynamics...

  10. Human Material in the Communication of Capital

    Directory of Open Access Journals (Sweden)

    Atle Mikkola Kjøsen

    2013-09-01

    Full Text Available The purpose of this article is to interrogate Marx’s analysis of the circulation of capital through the ‘new materialist’ communications and media theory of Friedrich Kittler. It explores the connections between Marx’s commodity fetish and how Kittler posits human beings as components of an information system alongside technologies and institutions. The article ask whether a ‘non-human’ Marxist theory is possible, i.e. if it is possible to remove the human being from its privileged position in Marx’s political economy. Specifically the paper argues that human beings are programmable human matter that serves to aid the communication of value through capital’s circuit. This stance necessitates adopting the point of view of capital and the fetish, bracketing the social and moving away from categories such as labour, production and class consciousness in favour of the value form, circulation and programmability.

  11. Quality-adjusted Human Capital and Productivity Growth

    OpenAIRE

    Md. Rabiul Islam

    2010-01-01

    Both the quality and quantity of human capital are important for growth. Although the quality aspects of human capital may have greater potential in explaining growth, given that the quantity effects of human capital have been found to be ambiguous, they have long been ignored in empirical growth literature. This paper empirically tests the joint effects of both the quantity and quality of human capital in stimulating productivity growth for a panel of 89 countries over the period 1970-2007. ...

  12. Influence of Workforce Ageing on Human Capital Formation

    OpenAIRE

    Stonawski, M.

    2008-01-01

    This paper addresses the question of how workforce ageing influences human capital formation, human capital deterioration, and future productivity growth. The method presented in this paper focuses on the magnitude of human capital that has been accumulated in an individual. It takes into consideration education, acquiring knowledge and experience, knowledge becoming obsolete or forgotten, as well as the impact of health. The estimated human capital curve (based on the net effect of the vario...

  13. Investigating the factors affecting the disclosure of intellectual capital in companies listed on the Tehran stock exchange

    Directory of Open Access Journals (Sweden)

    A. Gilani

    2017-03-01

    Full Text Available The aim of the article. This research studies the effective factor of disclosing intellectual capital of firms listed in Tehran Stock Exchange. The results of the analysis. Intellectual capital is one of the most valuable assets of the organization. Despite numerous studies on intellectual capital and its effects in various aspects, the disclosure of intellectual capital is the missing ring in the areas of accounting studies. This research tries, through fill this gap, providing paving the way for the creation and expansion of this valuable asset. This research studies the effective factor of disclosing intellectual capital of firms listed in Tehran Stock Exchange. In order to measure intellectual capital disclosure, Li et.al [9] intellectual capital disclosure checklist was used. In order to test research hypotheses, a sample including 96 firms during years 2009-2013 was selected as statistical sample of research and research hypotheses were tested by using multivariate regression model based on the pooled data method. Findings indicated that there is a positive significant relationship between size of firm, profitability and leverage with intellectual capital disclosure level. However, there was no significant relationship between size of auditing firm and intellectual capital disclosure. The findings of surveys conducted research, filling gaps in this area, it can be helpful for managers, investors, policy makers Stock Exchange, and other users of accounting information in order to make better decisions. Conclusions and directions of further researches. This research aims at investigating the relationship between size of firm, profitability, leverage and size of auditing firm with intellectual capital disclosure. In order to reach this objective, sample consisted of 96 firms listed in Terhan Stock Exchange during 2009-2013 was considered. The relationship between size of auditing firm and intellectual capital disclosure was tested. Results of

  14. A Review of Current Studies on Human Capital

    Institute of Scientific and Technical Information of China (English)

    黄思雅

    2012-01-01

      This paper introduces some previous studies on human capital, mainly regarding human capital’s properties and its relationship with corporate performance and capital structure. This study shows the importance of human capital and suggests that managers should pay more attention to employees.

  15. Human capital diversity in the creation of social capital for team creativity

    NARCIS (Netherlands)

    Han, J.; Han, J; Brass, D.

    2014-01-01

    We highlight the social aspects of team creativity by proposing that team creativity is influenced by two types of team social capital: bridging and bonding social capital. Going beyond the structural perspective, we posit that team-level human capital diversity is one of the potential antecedents

  16. Companies' human capital required for collaboration

    DEFF Research Database (Denmark)

    Albats, Ekaterina; Bogers, Marcel; Podmetina, Daria

    building, relationship building, IPR management and negotiation for the context of collaboration with universities. Our research has revealed an importance of expectation management skills for university-industry collaboration (UIC) context. We found that human capital for UIC is to be continuously......Universities are widely acknowledged as an important source of knowledge for corporate innovation, and collaboration with universities plays an important role in companies’ open innovation strategy. However, little is known about the human capital components required for collaboration...... with universities. Analysing the results of the survey among over 500 company managers we define the universal employees’ skills required for company’ successful collaborations with external stakeholders. Then through analysing qualitative interviews data we distinguish between these skills and capabilities...

  17. Investments in Human Capital in Romania

    Directory of Open Access Journals (Sweden)

    Florentina MOISESCU

    2012-12-01

    Full Text Available The human capital represents the most important investment made both by state and companies and also individually for the education and development of skills, knowledge, qualifications and capabilities of individuals, in order to obtain various incomes from certain economic activities. Both the expenses made for education and long term benefits influence the value of the investment in education. The analysis performed on the Romanian economy shows that between the educational level and the income, there is a positive relationship as the one, that numbers are showing with no doubt, between the manpower occupancy and the education period (the amount of investments in human capital. Therefore, the analysis of the Romanian labor market shows that the most affected by unemployment are the individuals with a modest education level while persons with a university degree suffer less from this phenomenon.

  18. Human Capital and Wages in Exporting Firms

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Skaksen, Jan Rose

    2006-01-01

    This paper studies the link between a firms education level, export performance and wages of its workers. We argue that firms may escape intence competition in international markets by using high skilled workers to differentiate their products. This story is consistent with our empirical results....... an export wage premium, but it accrues to workers in firms with high skill intensities.Keywords: Exports, Wages, Human Capital, Rent Sharing, Matched Worker-Firm DataJEL Classification: J30, F10, I20...

  19. Social Capital in the creation of Human Capital and Economic Growth: A Productive Consumption Approach

    OpenAIRE

    Dinda, Soumyananda

    2006-01-01

    Social capital is a broad term containing the social networks and norms that generate shared understandings, trust and reciprocity, which underpin cooperation and collective action for mutual benefits, and creates the base for economic prosperity. This study deals with the formation of social capital through development of human capital that is created from productive consumption. This paper attempts to formalize incorporation of social capital (SK). This paper sets up a one-sector growth mod...

  20. The effects of organizational embeddedness on development of social capital and human capital.

    Science.gov (United States)

    Ng, Thomas W H; Feldman, Daniel C

    2010-07-01

    This article examines the effects of organizational embeddedness on employees' activities to build social capital and human capital. To test a latent growth model, we collected data from 375 managers at multiple points over an 8-month period. We found that the more embedded employees perceived themselves to be at Time 1, the more likely they were to show declines in social capital development behaviors over time. In addition, declines in social capital development behavior were directly related to declines in human capital development behavior over time. These findings highlight the potential negative consequences embeddedness can have on employees' career development activity.

  1. 中国国有经济固定资本存量初步测算%The Preliminary Measurement of Fixed Capital Stocks of State-owned Economy of China

    Institute of Scientific and Technical Information of China (English)

    王益煊; 吴优

    2003-01-01

    The accounting of fixed capital stocks is very important in balance sheet accounting. And it is also an unsolved lasting problem of governmental statistics of China. On the basis of relevant researching projects, the paper conducts estimation of state-owned fixed capital stocks, and thereby constructs the foundation of the accounting of fixed capital stocks of the whole society.

  2. Political Regime and Human Capital: A Cross-Country Analysis.

    Science.gov (United States)

    Klomp, Jeroen; de Haan, Jakob

    2013-03-01

    We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human capital). In the second step, we estimate the impact of our political variables on human capital, using a cross-sectional structural model for some 100 countries. We conclude that democracy is positively related to basic human capital, while regime instability has a negative link with basic human capital. Governance has a positive relationship with advanced human capital, while government instability has a negative link with advanced human capital. Finally, we also find an indirect positive effect of governance and democracy on both types of human capital through their effect on income. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (doi:10.1007/s11205-011-9983-6) contains supplementary material, which is available to authorized users.

  3. Linkages Between Human Capital and the Environment: Implications for Sustainable Econmic Development

    OpenAIRE

    Goetz, Stephan J.; Debertin, David L.; Pagoulatos, Angelos

    1997-01-01

    An empirical analysis reveals that US states with a more highly educated population have better environmental conditions, after controlling for income and industrial composition. The strategy of raising human capital stocks to maintain or improve environmental quality is proposed as a complement, if not an alternative, to direct government intervention which consists of command and control, market incentives and moral suasion. Under this approach, general education becomes the control variabl...

  4. HUMAN CAPITAL, INCOME, AND ENVIRONMENTAL QUALITY: A STATE-LEVEL ANALYSIS

    OpenAIRE

    Goetz, Stephan J.; Debertin, David L.; Pagoulatos, Angelos

    1998-01-01

    An empirical analysis reveals that states with more highly educated populations have better environmental conditions, after controlling for income, population density, and industrial composition. The strategy of raising human capital stocks to maintain or improve environmental quality is proposed as a complement, if not an alternative, to direct government intervention, which consists of command and control, market incentives, and moral suasion. Under this approach, general education becomes ...

  5. Human Capital Development and Economic Growth: The Nigeria Experience

    OpenAIRE

    God’stime Osekhebhen Eigbiremolen; Uchechi Shirley Anaduaka

    2014-01-01

    This study employs the augmented Solow human-capital-growth model to investigate the impact of human capital development on national output, a proxy for economic growth, using quarterly time-series data from 1999-2012. Empirical results show that human capita development, in line with theory, exhibits significant positive impact on output level. This implies that human capital development is indispensable in the achievement of sustainable economic growth in Nigeria, as there is an increase in...

  6. Factors explaining the level of voluntary human capital disclosure in the Brazilian capital market Factors explaining the level of voluntary human capital disclosure in the Brazilian capital market Factors explaining the level of voluntary human capital disclosure in the Brazilian capital market

    Directory of Open Access Journals (Sweden)

    Clea Beatriz Macagnan

    2013-01-01

    Full Text Available Purpose: This paper presents a study on factors explaining the level of voluntary human capital information in companies with shares in the Brazilian stock exchange. Assuming the existence of information asymmetry between managers and shareholders, agency theory states that disclosure might lead to a reduction in agency costs. The proprietary costs theory indicates that information disclosure might increase the company’s costs. According to these theories, the likelihood that the managers will voluntarily disclose information depends on certain factors that are characteristic of the company. Understanding the disclosure of information regarding intangible assets, specifically human capital, has strategic relevance for enterprises because these features, although not always recorded in accounting, represent a competitive business edge in the current economy.Design/methodology/approach: The study examined 145 annual reports, representing 29 companies in the period of 2005-2009. The level of voluntary disclosure was determined through content analysis of annual reports using representative indicators of human capital information.Findings: The statistical results indicate that factors such as size, debt, growth and time of registration with the brazilian Securities and Exchange Commission explain the level of voluntary human capital disclosure of the companies studied.Originality/value: An important contribution of this research is the formulation and non-repudiation of the time of registration with the CVM hypothesis as a factor that explains the level of human capital disclosure because none of the revised studies have tested this hypothesis.Purpose: This paper presents a study on factors explaining the level of voluntary human capital information in companies with shares in the Brazilian stock exchange. Assuming the existence of information asymmetry between managers and shareholders, agency theory states that disclosure might lead to a

  7. The Impact of Human Capital Outsourcing on Human Capital Management Practices in Karachi Pharmaceutical Industry

    OpenAIRE

    Rana, Tariq Mehmood; Syed, Qamar Ali Zaidi; Muhmmad, Sajid; Herani, Gobind M.

    2011-01-01

    Purpose: The aim of this research is to examine relationship between Human Capital Management (HRM) and Human Resource (HR) Outsourcing in the Pharmaceutical sector. The specific objective is to find out that how important is HRM for an Organization to perform its operations more efficiently, and at what level Human Resource Outsourcing is affecting it. Literature review: Literature review shows that HR outsourcing has positive impact on HRM for an Organization to perform its operations more ...

  8. Exploring the Relationship between Human Capital Investment and Corporate Financial Performance of Jordanian Industrial Sectors

    Directory of Open Access Journals (Sweden)

    Faris Nasif ALSHUBIRI

    2013-12-01

    Full Text Available The revolution of globalization, computerization and information technology has entered to Jordanian market. This phenomenon requires company's attention of human element and the acquired knowledge, experience and the development of the so-called concept of intellectual capital.(IC In this study I used only the human capital as a part of IC. This study aims to exploring the relationship between human capital investment (HCI, and corporate financial performance. This study used an 11 industrial sectors listed of Amman Stock Exchange from 2005to 2011. Correlation analysis tests used in this study and the results indicate the high positive significant relationship between HCI and corporate financial performance related to, ROE , PTBV , log of sales , log of assets , DPS and ICR but no significant relationship between HCI and WCTO. The researcher recommends industrial companies to strengthen and stimulate the concept of human capital in the companies and the need for develop administrative innovation program. For future analysis may be used more sectors listed in market in addition used the all parts of intellectual capital related to structural and physical capital with corporate financial performance.

  9. A Century of Human Capital and Hours

    OpenAIRE

    Diego Restuccia; Guillaume Vandenbroucke

    2012-01-01

    An average person born in the United States in the second half of the nineteenth century completed 7 years of schooling and spent 58 hours a week working in the market. By contrast, an average person born at the end of the twentieth century completed 14 years of schooling and spent 40 hours a week working. In the span of 100 years, completed years of schooling doubled and working hours decreased by 30 percent. What explains these trends? We consider a model of human capital and labor supply t...

  10. The human capital crisis in orthodontics.

    Science.gov (United States)

    Ackerman, Marc Bernard

    2012-01-01

    The economics of dental practice are changing. The author reflects on the loss of a long-term, highly effective, and dedicated assistant in an orthodontic practice. Changes in technology, numbers of dentists, expected benefit levels, and a competitive workplace environment are combining to put pressures on the traditional model of oral health care. Whatever the solution turns out to be, the profession should take the lead in actively developing alternatives, and these will necessarily involve development of human capital in the dental practice.

  11. Exploring Human Capital and Hybrid Entrepreneurship

    DEFF Research Database (Denmark)

    Klyver, Kim; Lomberg, Carina; Steffens, Paul

    2016-01-01

    An individual’s human capital affects their choice to become and entrepreneur and also their likely success as a nascent entrepreneur. This paper explores how hybrid employment—entrepreneur opportunities impact these dynamics. Drawing on insights from decision theory, we argue that an individual...... longitudinal dataset of individuals facing career transition as nascent entrepreneurs, job seekers or both, we find that while hybrid nascent entrepreneurship (trying to start a business while being employed) has a positive influence on outcomes, hybrid search (concurrent job search while trying to start...

  12. Strategic Complementarities Between Innovation and Human Capital. The Neglected Role of Human Capital Demand

    Directory of Open Access Journals (Sweden)

    Aurora Amélia Castro Teixeira

    2004-01-01

    Full Text Available This study examines the conditions under which the demand for human capital is as (or more important than the simple availability of educated or skilled human resources. The perspective taken is that it is the conscious and intentional attitude of firms, dependent, to a large extent, on respective strategies, that determines the demand for human capital, thereby conditioning the role of the latter in their performance. The automatic and linear character that many studies within the mainstream human capital theory assume is rejected here. Results, based on an in-depth study of fourteen Portuguese textile firms, reveal the "congruence" between firms behaviour towards human capital accumulation, characteristics of productive process and markets, and the omnipresent "fission" risk. New hirings of top skilled and educated individuals are seen as small contributors to firms (current innovation capabilities. In contrast, existing top skilled and educated individuals are regarded as critical in this context.Este estudo analisa as condições em que a procura por capital humano é tão (ou mais importante do que a simples disponibilidade de recursos humanos qualificados. É tomada a perspectiva de que é a atitude consciente e intencional das empresas, a qual depende em grande medida das suas estratégias, que determina a procura por capital humano, condicionando o seu desempenho econômico. Rejeita-se aqui o caráter automático e linear presente na maioria dos estudos associados à teoria do capital humano. Os resultados, baseados num estudo detalhado de 14 empresas têxteis portuguesas, revelam a “congruência” entre o comportamento destas relativamente à acumulação de capital humano, as características dos seus processos produtivos e mercados e a onipresença do risco de “cisão”. As novas contratações de indivíduos altamente qualificados são vistas como contribuindo pouco para as competências de inovação correntes das empresas. Em

  13. State Policies on Human Capital Resource Management: Minnesota. Human Capital Resource Management Technical Brief

    Science.gov (United States)

    Bhatt, Monica; Behrstock, Ellen; Cushing, Ellen; Wraight, Sara

    2010-01-01

    Training, recruiting, developing, and supporting talented and effective educators throughout their careers is known as human capital resource management (HCRM) in education. HCRM has been identified in recent literature as one of the ways in which districts and states may increase school effectiveness and improve student learning (Heneman &…

  14. State Policies on Human Capital Resource Management: Iowa. Human Capital Resource Management Technical Brief

    Science.gov (United States)

    Behrstock, Ellen; Bhatt, Monica; Cushing, Ellen; Wraight, Sara

    2010-01-01

    Training, recruiting, developing, and supporting talented and effective educators throughout their careers is known as human capital resource management (HCRM) in education. HCRM has been identified in recent literature as one of the ways in which districts and states may increase school effectiveness and improve student learning (Heneman &…

  15. State Policies on Human Capital Resource Management: Michigan. Human Capital Resource Management Technical Brief

    Science.gov (United States)

    Meyer, Cassandra; Bhatt, Monica; Wraight, Sara; Behrstock, Ellen; Cushing, Ellen

    2010-01-01

    Training, recruiting, developing, and supporting talented and effective educators throughout their careers is known as human capital resource management (HCRM) in education. HCRM has been identified in recent literature as one of the ways in which districts and states may increase school effectiveness and improve student learning (Heneman &…

  16. State Policies on Human Capital Resource Management: Illinois. Human Capital Resource Management Technical Brief

    Science.gov (United States)

    Meyers, Coby; Bhatt, Monica; Wraight, Sara; Behrstock, Ellen; Cushing, Ellen

    2010-01-01

    Training, recruiting, developing, and supporting talented and effective educators throughout their careers is known as human capital resource management (HCRM) in education. HCRM has been identified in recent literature as one of the ways in which districts and states may increase school effectiveness and improve student learning (Heneman &…

  17. State Policies on Human Capital Resource Management: Ohio. Human Capital Resource Management Technical Brief

    Science.gov (United States)

    Bhatt, Monica; Wraight, Sara; Behrstock, Ellen; Cushing, Ellen

    2010-01-01

    Training, recruiting, developing, and supporting talented and effective educators throughout their careers is known as human capital resource management (HCRM) in education. HCRM has been identified in recent literature as one of the ways in which districts and states may increase school effectiveness and improve student learning (Heneman &…

  18. State Policies on Human Capital Resource Management: Wisconsin. Human Capital Resource Management Technical Brief

    Science.gov (United States)

    Cushing, Ellen; Bhatt, Monica; Wraight, Sara; Behrstock, Ellen; Meyer, Cassandra

    2010-01-01

    Training, recruiting, developing, and supporting talented and effective educators throughout their careers is known as human capital resource management (HCRM) in education. HCRM has been identified in recent literature as one of the ways in which districts and states may increase school effectiveness and improve student learning (Heneman &…

  19. State Policies on Human Capital Resource Management: Indiana. Human Capital Resource Management Technical Brief

    Science.gov (United States)

    Meyer, Cassandra; Bhatt, Monica; Wraight, Sara; Behrstock, Ellen; Cushing, Ellen

    2010-01-01

    Training, recruiting, developing, and supporting talented and effective educators throughout their careers is known as human capital resource management (HCRM) in education. HCRM has been identified in recent literature as one of the ways in which districts and states may increase school effectiveness and improve student learning (Heneman &…

  20. Does Human Capital Theory Account For Individual Higher Education Choice?

    OpenAIRE

    Alex van der Merwe

    2010-01-01

    South African higher education policy evidently assumes a human capital interpretation of the value of higher education. However, not much local evidence has been provided to support the human capital view that individuals enroll in higher education primarily on the basis of future earnings they expect to flow from such investments. This paper suggests that one reason for this circumstance is that neoclassical economic epistemology, human capital theory’s philosophical paradigm, cannot deal c...

  1. The age pattern of human capital and regional productivity

    OpenAIRE

    Hirte, Georg; Brunow, Stephan

    2008-01-01

    We explore the impact of the age structure of human capital on average regional productivity by applying a spatial econometric analysis based on an augmented Lucas-type production function. We also apply a new definition of regional human capital focusing on its availability. The estimates provide evidence that there are age specific human capital effects in Germany and that a temporary increase in regional productivity could occur during the demographic transition. Furthermore, it becomes cl...

  2. The Geographic Distribution of Human Capital: Measurement of Contributing Mechanisms

    OpenAIRE

    2010-01-01

    This paper investigates how the geographic distribution of human capital evolves over time. With U.S. data, I decompose generation-to-generation changes in local human capital into three factors: the previous generation’s human capital, intergenerational transmission of skills from parents to their children, and migration of the children. I find evidence of regression to the mean of local skills at the state level and divergence at the commuting zone level. Labor market size, climate, local c...

  3. Disclosure, Conservatism and their Influence on Cost of Capital of the Companies Accepted by Tehran Stock Exchange (TSE

    Directory of Open Access Journals (Sweden)

    R. Zare

    2013-05-01

    Full Text Available This study attempts to examine the relevance of Disclosure, conservatism and their influence on cost of capital of the companies accepted by Tehran Stock Exchange (TSE and Compare the relative information content of them. Based on sampling, 113 firms from Tehran Stock Exchange (TSE were selected and examined during 2003 to 2009. The results support the priority of accounting figures over dividend policy. The results show there is some significant relation between the conservatism rate and cost of capital. The relation between the conservatism and cost of capital is on the basis of the Spence (1973. By virtue of the theory the companies benefit from the conservative accounting policy as a quality sign. When the conservative accounting policy is chosen it indicates a positive qualitative sign. Higher quality indicates the information risk of a company decreases probably; when the information risk of a company decreases the cost of capital decreases, too. Also the results show a significant relation between the disclosure rate and cost of capital namely when the disclosure rate of a company is higher (better the usual shares cost is lower.

  4. Does human capital matter? A meta-analysis of the relationship between human capital and firm performance.

    Science.gov (United States)

    Crook, T Russell; Todd, Samuel Y; Combs, James G; Woehr, David J; Ketchen, David J

    2011-05-01

    Theory at both the micro and macro level predicts that investments in superior human capital generate better firm-level performance. However, human capital takes time and money to develop or acquire, which potentially offsets its positive benefits. Indeed, extant tests appear equivocal regarding its impact. To clarify what is known, we meta-analyzed effects drawn from 66 studies of the human capital-firm performance relationship and investigated 3 moderators suggested by resource-based theory. We found that human capital relates strongly to performance, especially when the human capital in question is not readily tradable in labor markets and when researchers use operational performance measures that are not subject to profit appropriation. Our results suggest that managers should invest in programs that increase and retain firm-specific human capital.

  5. Determinants of Human Capital Intensity: An Empirical Analysis on Automotive Suppliers in Turkey

    Directory of Open Access Journals (Sweden)

    Alper SÖNMEZ

    2016-12-01

    Full Text Available The purpose of the paper is to analyze the determinants of human capital intensity levels of the firms with emphasize on foreign ownership and R&D activities, also to make a contribution to the scarce empirical literature in this subject. The evidence is based on a comprehensive firm-level survey data gathered through face-to-face questionnaire with the top executives of suppliers operating in Turkish automotive industry. The key findings can be summarized as: (1 foreign ownership is the only variable that has positive (and significant impact on all senses of supplier’s human capital intensity as expected; (2 the impact of foreign ownership on a supplier’s human capital is higher for white collar intensity-(general than for engineer intensity-(specific;(3 being anolder or larger supplier negatively (and significantly impacts a supplier’s specific human capital intensity, while performing R&D activities (having an R&D department, and being a firsttier supplier impact positively (and significantly. These findings reveal that smaller and younger first-tier foreign suppliers performing R&D activities employ more specific(engineers human capital stock

  6. Technology penetration and capital stock turnover. Lessons from IEA scenario analysis

    Energy Technology Data Exchange (ETDEWEB)

    Philibert, C. [International Energy Agency IEA, Organisation for Economic Co-operation and Development OECD, Paris (France)

    2007-05-15

    The aim of this paper is to reflect on the significant differences between the emissions reductions projections in mid-term and long-term scenarios, and to explore their policy implications. It draws mainly on two recent IEA publications: the 2006 World Energy Outlook (WEO), which contains energy and energy-related CO2 projections up to 2030, and the 2006-published Energy Technology Perspectives (ETP), which considers scenarios and strategies up to 2050. The analysis focuses on a comparison of the Alternative Policy Scenario of the 2006 WEO, and the various Accelerated Technology (ACT) Scenarios in the ETP. The next section provides the necessary background on these two publications and their energy-related CO2 emissions by 2030 and 2050, respectively. The third section investigates in some more depth the reasons for the large differences in the amount of emission reductions at these dates. Capital stock turnover and technology maturation lead times, in particular, are identified as primary reasons for the differences. The fourth section suggests several possible policy conclusions that can be drawn from this analysis. They include thought pieces with respect to the action required in the short-term; to the necessity of long-term signals; to the advantages and limitations of short-term targets; and to the opportunities and challenges the international community faces with respect to emission reductions in developing countries.

  7. Effects of Capital Structure and Profitability on Corporate Value with Company Size as the Moderating Variable of Manufacturing Companies Listed on Indonesia Stock Exchange

    National Research Council Canada - National Science Library

    Mahdaleta, Ela; Muda, Iskandar; Nasir, Gusnardi Muhammad

    2016-01-01

    This study aims to determine the effect of capital structure and profitability on the corporate value by company size as the moderating variable on manufacturing companies listed on Indonesia Stock...

  8. Human capital as the major financing in the welfare state

    Directory of Open Access Journals (Sweden)

    Konstantiuk Nataliia

    2014-01-01

    Full Text Available Human capital is becoming one of the main types of capital in the global economy. But as any other capital it needs investments. The system of higher education, as well as health care and social security, represents the major investment in the development of human capital. The latter, in turn, is the basis of innovation and economic development of states, nations and intergovernmental alliances. Various research has shown that higher education greatly increases the person's and the country's income in general. Human capital produces new knowledge, which is the key for the future. As a result, the funding of the human capital development, for which the country is mostly responsible, becomes of strategic importance.

  9. ACCOUNTING CHALLENGES – CAPITALIZING HUMAN VALUE

    Directory of Open Access Journals (Sweden)

    Alexandra CIOCLOV (PETCU

    2015-04-01

    Full Text Available Assessing the performance of business organisations has been a priority for all stakeholders, and this is the reason accounting has continuously evolved to better assist investors in their decision-making process. However, given the increasing importance of the service industry, the focus in evaluating business performance is also on employees’ performance and employee-centred organisational policies that would further stimulate the knowledge-production at the firms’ level. As many accounting professionals have already understood, accounting faces the challenge of a continuous adaption to the necessities of the business environment, thus admitting that it should provide the grounds for a sustainable and generalizable methodology for intellectual and, more particularly, human capital recognition. This paper offers a literature review on intellectual capital management and reporting, leaving room for the debate upon the choice of instruments that would ensure an accurate presentation employees’ added-value to organisational performance. It also presents a schematic approach to further develop the subject, describing the proposed methodology for further in-depth research.

  10. ACCOUNTING CHALLENGES – CAPITALIZING HUMAN VALUE

    Directory of Open Access Journals (Sweden)

    Alexandra CIOCLOV (PETCU

    2015-04-01

    Full Text Available Assessing the performance of business organisations has been a priority for all stakeholders, and this is the reason accounting has continuously evolved to better assist investors in their decision-making process. However, given the increasing importance of the service industry, the focus in evaluating business performance is also on employees’ performance and employee-centred organisational policies that would further stimulate the knowledge-production at the firms’ level. As many accounting professionals have already understood, accounting faces the challenge of a continuous adaption to the necessities of the business environment, thus admitting that it should provide the grounds for a sustainable and generalizable methodology for intellectual and, more particularly, human capital recognition. This paper offers a literature review on intellectual capital management and reporting, leaving room for the debate upon the choice of instruments that would ensure an accurate presentation employees’ added-value to organisational performance. It also presents a schematic approach to further develop the subject, describing the proposed methodology for further in-depth research.

  11. Human Capital and FDI in Central and Eastern Europe

    Directory of Open Access Journals (Sweden)

    Agnieszka Dorozynska

    2015-06-01

    Full Text Available The aim of this paper is to assess the role of human capital in attracting FDI in the light of selected empirical studies conducted in Poland and globally. The literature on factors determining FDI location, including those relating to the importance of human capital, is dominated with studies at national or supranational level. Attracting foreign investment has become a key component of national strategies for the CEE countries. The paper makes an attempt to assess the relevance of human capital for FDI inflow at regional and local levels in Poland. At the same time, results of analyses were contrasted with quantitative surveys conducted in Central and Eastern Europe. Investing in education and human capital is important for creating good climate for investment. Evidence shows that achieving a certain minimum level of education is the precondition for a country to attract and maintain foreign direct investment and maximise indirect effects connected with human capital and resulting from the presence of businesses with foreign capital and maximise indirect effects connected with human capital and resulting from the presence of businesses with foreign capital. We should also stress that such a minimum is different for different sectors of the economy. Results of the study conducted in the Lodz Region demonstrated that human capital is an important factor, which attracts FDI to the region.

  12. Social Capital, Human Capital and Parent-Child Relation Quality: Interacting for Children's Educational Achievement?

    Science.gov (United States)

    von Otter, Cecilia; Stenberg, Sten-Åke

    2015-01-01

    We analyse the utility of social capital for children's achievement, and if this utility interacts with family human capital and the quality of the parent-child relationship. Our focus is on parental activities directly related to children's school work. Our data stem from a Swedish cohort born in 1953 and consist of both survey and register data.…

  13. Social Capital, Human Capital and Parent-Child Relation Quality: Interacting for Children's Educational Achievement?

    Science.gov (United States)

    von Otter, Cecilia; Stenberg, Sten-Åke

    2015-01-01

    We analyse the utility of social capital for children's achievement, and if this utility interacts with family human capital and the quality of the parent-child relationship. Our focus is on parental activities directly related to children's school work. Our data stem from a Swedish cohort born in 1953 and consist of both survey and register data.…

  14. Multidimensional human capital formation in a developing country: Health, cognition and locus of control in the Philippines.

    Science.gov (United States)

    Villa, Kira M

    2017-07-08

    Economic success depends on multiple human capital stocks whose production is interrelated and occurs over many life stages. Yet, much empirical work fails to account for human capital's multidimensional nature and limits its focus to specific childhood stages. Using longitudinal data from the Philippines, I estimate a model of multidimensional human capital formation from birth through adulthood where health, cognitive, and noncognitive dimensions are jointly produced. I examine during which developmental stages parental investment is most influential and address the endogeneity of investment using a policy function where investment depends on child characteristics, exogenous conditions at birth and local prices. Findings imply that not only will early human capital disparities persist into adulthood without early remediation but also that cognitive gains yielded from early remediation will be lost without complementary investment in adolescence. Findings further suggest that interventions will be undervalued if their multidimensional effects are not accounted for. Copyright © 2017 Elsevier B.V. All rights reserved.

  15. An industry analysis of the power of human capital for corporate performance: Evidence from South Africa

    Directory of Open Access Journals (Sweden)

    Carla Morris

    2015-11-01

    Full Text Available Even in industrialised emerging economies, the value-generating competencies of a workforce, known as its human capital efficiency, are a key resource for commercial success. The objective of this research is to empirically investigate the relationship between human capital efficiency (as measured by value-added human capital and the financial and market performance of companies listed on the Main Board and Alternative Exchange (ALT-X of the Johannesburg Stock Exchange. Return on assets, revenue growth and headline earnings per share were used as financial performance indicators; while market-to-book ratio and total share return were used to measure market performance. Multivariate regressions were performed, with panel data covering 390 companies in the financial, basic materials, consumer services, consumer goods, industrial and technology industries from 2001 to 2011. First, human capital efficiency was found to have no effect on the market performance of listed companies in South Africa. Secondly, higher human capital efficiency was found to result in the extraction of greater returns from both tangible and intangible assets in all industries. Thirdly, higher profitability was found to be associated with higher human capital efficiency in almost every industry in South Africa, with the exception of the technology industry, where human capital efficiency was found to be independent of headline earnings per share. Finally, higher revenue growth was found to be positively associated with human capital efficiency in those industries which are not consumer-driven. In the consumer-driven industries, human capital efficiency contributes to bottom line profitability even though it is not a driver for revenue growth. Overall, the results of this study confirm that human capital efficiency enhances a company’s financial performance, whether it be through a greater capacity for production and service delivery, tighter cost controls or better use of

  16. Barriers of the Human Capital Shaping

    Directory of Open Access Journals (Sweden)

    Joanna Krochmal

    2011-07-01

    Full Text Available Nowadays, in the age of the economy focused on knowledge and science, the process of formation and development of the employees is considered as a very important investment, inspiration and a tool to efficiency creating, success and first of all, the strategic potential of the company. Indeed, it is people who are the key and the path to success and on them, the strength, the power and the success of any business should be built. The aim of this elaboration is to highlight and emphasize the importance of investment in human capital and show fluctuations, as one of the barriers that can disrupt this development, what in general also may be caused by lack of adequate systems of employees motivation.

  17. 26 CFR 1.551-5 - Effect on capital account of foreign personal holding company and basis of stock in hands of...

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Effect on capital account of foreign personal holding company and basis of stock in hands of shareholders. 1.551-5 Section 1.551-5 Internal Revenue... holding company and basis of stock in hands of shareholders. (a) Sections 551(e) and 551(f) are...

  18. Human Capital Development in the International Organization: Rhetoric and Reality

    Science.gov (United States)

    Kulvisaechana, Somboon

    2006-01-01

    Purpose: The purpose of this study is to present empirical evidence of the nature of corporate rhetoric in developing human capital and how it becomes embedded within a large international organization operating in the Nordic region. The qualitative case study aims to examine the sensemaking of individual managers, and how human capital rhetoric…

  19. Human Capital Linkages to Labour Productivity: Implications from Thai Manufacturers

    Science.gov (United States)

    Rukumnuaykit, Pungpond; Pholphirul, Piriya

    2016-01-01

    Human capital investment is a necessary condition for improving labour market outcomes in most countries. Empirical studies to investigate human capital and its linkages on the labour demand side are, however, relatively scarce due to limitations of firm-level data-sets. Using firm-level data from the Thai manufacturing sector, this paper aims to…

  20. Theorizing Translanguaging and Multilingual Literacies through Human Capital Theory

    Science.gov (United States)

    Smith, Patrick H.; Murillo, Luz A.

    2015-01-01

    In this conceptual article we invite multilingual researchers to consider the concept of translanguaging through the lens of human capital theory. Our thinking about the interconnections among human capital, multilingualism, and translanguaging is motivated by our research in border "colonias" and other minoritized communities in South…

  1. Using Human Capital Planning to Predict Future Talent Needs

    Science.gov (United States)

    Ruse, Donald; Jansen, Karen

    2008-01-01

    Human capital planning is an important tool in predicting future talent needs and sustaining organizational excellence over the long term. This article examines the concept of human capital planning and outlines how institutions can use HCP to identify the type and number of talent needed both now and in the future, recognize and prioritize talent…

  2. An Energy Model for Viewing Embodied Human Capital Theory

    Science.gov (United States)

    Kaufman, Neil A.; Geroy, Gary D.

    2007-01-01

    Human capital development is one of the emerging areas of study with regard to social science theory, practice, and research. A relatively new concept, human capital is described in terms of individual knowledge skills and experience. It is currently expressed as a function of education as well as a measure of economic activity. Little theory…

  3. Birth order and human capital development: evidence from Ecuador

    NARCIS (Netherlands)

    de Haan, M.; Plug, E.; Rosero, J.

    2014-01-01

    In this paper we examine the effect of birth order on human capital development in Ecuador. Using family fixed effects models we find positive and persistent birth order effects; earlier-born children stay behind in their human capital development from infancy to adolescence. Turning to potential me

  4. Human Capital and Cross-Country Comparison of Inequality

    NARCIS (Netherlands)

    J.M.A. Viaene (Jean-Marie); I. Zilcha (Itzhak)

    2002-01-01

    textabstractThe paper studies the effects of cross-country differences in the production process of human capital on income distribution and growth. Our overlapping gen- erations economy has the following features: (1) consumers are heterogenous with respect to parental human capital and wealth; (2)

  5. Human Capital Linkages to Labour Productivity: Implications from Thai Manufacturers

    Science.gov (United States)

    Rukumnuaykit, Pungpond; Pholphirul, Piriya

    2016-01-01

    Human capital investment is a necessary condition for improving labour market outcomes in most countries. Empirical studies to investigate human capital and its linkages on the labour demand side are, however, relatively scarce due to limitations of firm-level data-sets. Using firm-level data from the Thai manufacturing sector, this paper aims to…

  6. Theorizing Translanguaging and Multilingual Literacies through Human Capital Theory

    Science.gov (United States)

    Smith, Patrick H.; Murillo, Luz A.

    2015-01-01

    In this conceptual article we invite multilingual researchers to consider the concept of translanguaging through the lens of human capital theory. Our thinking about the interconnections among human capital, multilingualism, and translanguaging is motivated by our research in border "colonias" and other minoritized communities in South…

  7. An Energy Model for Viewing Embodied Human Capital Theory

    Science.gov (United States)

    Kaufman, Neil A.; Geroy, Gary D.

    2007-01-01

    Human capital development is one of the emerging areas of study with regard to social science theory, practice, and research. A relatively new concept, human capital is described in terms of individual knowledge skills and experience. It is currently expressed as a function of education as well as a measure of economic activity. Little theory…

  8. The Strategic Aspects of a Country's Human Capital Education

    Science.gov (United States)

    Rutkauskas, Aleksandras Vytautas; Gruževskis, Boguslavas; Danileviciene, Irena

    2016-01-01

    Often the perspective of human capital is drawn with different colours: from its growing importance to the possibility of changing it with current technical and information management tools. This usually happens when analysing the human capital education and corporate problems in the context of companies and other activity-organising units. In…

  9. Using Human Capital Planning to Predict Future Talent Needs

    Science.gov (United States)

    Ruse, Donald; Jansen, Karen

    2008-01-01

    Human capital planning is an important tool in predicting future talent needs and sustaining organizational excellence over the long term. This article examines the concept of human capital planning and outlines how institutions can use HCP to identify the type and number of talent needed both now and in the future, recognize and prioritize talent…

  10. Stock Exchange Competition in a Simple Model of Capital Market Equilibrium

    OpenAIRE

    Sofia B. Ramos; Ernst-Ludwig VON THADDEN

    2003-01-01

    This paper uses a simple model of mean-variance asset pricing with transaction costs to analyze one of the main empirical phenomena in stock market competition in the last years, the decrease of transaction costs. We endogenize transaction costs as variables strategically influenced by stock exchanges and model stock market integration as an increase in the correlation of the underlying stock market returns. Among other things, we find that market integration leads to a decrease of transactio...

  11. HOW TO MEASURE HUMAN CAPITAL: A SHORT REVIEW

    Directory of Open Access Journals (Sweden)

    Bálint BALOGH

    2013-06-01

    Full Text Available This paper focuses on the most important estimation approaches of human capital. These approaches can be labeled as either monetary or non-monetary methods of estimation. The three major monetary methods of human capital are the prospective method, the retrospective method and the integrated approach. The income-based approach (prospective method estimates human capital based on the present value of a person’s future income stream. The cost-based approach (retrospective method is centered on the “production” costs of human capital, trying to determine the costs of producing human capital by adding up the education and schooling costs. The integrated approach is a mixture of the prospective and retrospective method. On the other side, the non-monetary measures are essentially education-based indicators, such as the literacy rate, the school enrollment rate or the average years of education.

  12. Human Capital Questionnaire: Assessment of European nurses' perceptions as indicators of human capital quality.

    Science.gov (United States)

    Yepes-Baldó, Montserrat; Romeo, Marina; Berger, Rita

    2013-06-01

    Healthcare accreditation models generally include indicators related to healthcare employees' perceptions (e.g. satisfaction, career development, and health safety). During the accreditation process, organizations are asked to demonstrate the methods with which assessments are made. However, none of the models provide standardized systems for the assessment of employees. In this study, we analyzed the psychometric properties of an instrument for the assessment of nurses' perceptions as indicators of human capital quality in healthcare organizations. The Human Capital Questionnaire was applied to a sample of 902 nurses in four European countries (Spain, Portugal, Poland, and the UK). Exploratory factor analysis identified six factors: satisfaction with leadership, identification and commitment, satisfaction with participation, staff well-being, career development opportunities, and motivation. The results showed the validity and reliability of the questionnaire, which when applied to healthcare organizations, provide a better understanding of nurses' perceptions, and is a parsimonious instrument for assessment and organizational accreditation. From a practical point of view, improving the quality of human capital, by analyzing nurses and other healthcare employees' perceptions, is related to workforce empowerment.

  13. Peoples Human and Social Capital Benefiting Careers in Entrepreneurship

    DEFF Research Database (Denmark)

    Ashourizadeh, Shayegheh; Rezaei, Shahamak; Schøtt, Thomas

    2016-01-01

    A person may develop a vocational intention – whether to become entrepreneur – based on human capital in form of competencies, such as self-efficacy, opportunity-alertness and risk-propensity obtained partly through education, and on social capital in form of networking, such as knowing an entrep......A person may develop a vocational intention – whether to become entrepreneur – based on human capital in form of competencies, such as self-efficacy, opportunity-alertness and risk-propensity obtained partly through education, and on social capital in form of networking, such as knowing...

  14. Governing Harmonious Human Engagement with the Spatial Capital

    Directory of Open Access Journals (Sweden)

    Shukui Tan

    2014-03-01

    Full Text Available The unprecedented rate and scale of activities, simulated by human abode in its entirety, is having large and accelerating effects on the integrity of biophysical elements of spatial capital, at local, regional, and global scales. Real appreciation of these effects demands a dramatic change in human manipulation of the spatial capital. Spatial capital can be viewed as processes or a complex matrix, in which not only our spatial but social, economic, and intellectual needs are embedded. Through an extensive synthesis of literature, this study strives to situate as well as manage human abode in context of spatial capital. It focuses on the need of crafting spatial governance, which secures today’s needs without compromising the needs of abode for our future generations. For harmonious human engagement with the spatial capital, we focused on following major requisites: (i filling gaps in the understanding of processes of the respective spatial capital; (ii integration of this intellectual capital; (iii and spatial government supported by seamless institutionalisation, and governance processes in a global context. All modes of human abode are unique when analysed in the milieu of their social, economic, cultural, and intellectual yield, and their respective ecological footprint on spatial capital. An essential component of the sustainability of spatial capital is fundamental knowledge of the relevant biophysical processes, which yield the respective social, economic, cultural, and intellectual services we obtain from it. Action-oriented and integrated intellectual capital will yield the required awareness about the spatial capital, which when crystallised into proper institutions their processes will certainly produce promising outcomes for spatial management. Sustainable spatial constructs can only be produced through horizontal and vertical harmonization in governance institutions from the local to global level. It will not only help in the

  15. Does Human Capital Matter? A Meta-Analysis of the Relationship between Human Capital and Firm Performance

    Science.gov (United States)

    Crook, T. Russell; Todd, Samuel Y.; Combs, James G.; Woehr, David J.; Ketchen, David J., Jr.

    2011-01-01

    Theory at both the micro and macro level predicts that investments in superior human capital generate better firm-level performance. However, human capital takes time and money to develop or acquire, which potentially offsets its positive benefits. Indeed, extant tests appear equivocal regarding its impact. To clarify what is known, we…

  16. Research and Application of Human Capital Strategic Classification Tool: Human Capital Classification Matrix Based on Biological Natural Attribute

    Directory of Open Access Journals (Sweden)

    Yong Liu

    2014-12-01

    Full Text Available In order to study the causes of weak human capital structure strategic classification management in China, we analyze that enterprises around the world face increasingly difficult for human capital management. In order to provide strategically sound answers, the HR managers need the critical information provided by the right technology processing and analytical tools. In this study, there are different types and levels of human capital in formal organization management, which is not the same contribution to a formal organization. An important guarantee for sustained and healthy development of the formal or informal organization is lower human capital risk. To resist this risk is primarily dependent on human capital hedge force and appreciation force in value, which is largely dependent on the strategic value of the performance of senior managers. Based on the analysis of high-level managers perspective, we also discuss the value and configuration of principles and methods to be followed in human capital strategic classification based on Boston Consulting Group (BCG matrix and build Human Capital Classification (HCC matrix based on biological natural attribute to effectively realize human capital structure strategic classification.

  17. Does Human Capital Matter? A Meta-Analysis of the Relationship between Human Capital and Firm Performance

    Science.gov (United States)

    Crook, T. Russell; Todd, Samuel Y.; Combs, James G.; Woehr, David J.; Ketchen, David J., Jr.

    2011-01-01

    Theory at both the micro and macro level predicts that investments in superior human capital generate better firm-level performance. However, human capital takes time and money to develop or acquire, which potentially offsets its positive benefits. Indeed, extant tests appear equivocal regarding its impact. To clarify what is known, we…

  18. A Human Capital Theory of Growth: New Evidence for an Old Idea

    OpenAIRE

    Theodore R. Breton

    2014-01-01

    In 1960 Theodore Schultz expounded a human capital theory of economic growth that includes three elements: 1) Countries without much human capital cannot manage physical capital effectively, 2) Economic growth can only proceed if physical capital and human capital rise together, and 3) Human capital is the factor most likely to limit growth. I specify Schultz’s theory mathematically and test it in periods when global financial capital was highly mobile. I find that in 1870, 1910, and 2000, th...

  19. EVALUATING HUMAN CAPITAL IN A KNOWLEDGE – BASED APPROACH

    Directory of Open Access Journals (Sweden)

    Emanoil MUSCALU

    2014-04-01

    Full Text Available The widespread enthusiasm for a knowledge-based approach to understanding the nature of a business and the possible basis for sustained competitive advantage have renewed interest in human capital evaluation or measurement. While many attempts have been made to develop methods for measuring intellectual capital, none have been widely adopted in the business world. In the knowledge-based organizations, and generally, in the information society, human capital is recognized as the fundamental factor of overall progress, and experts agree that long-term investment in human capital has strong drive-propagation effects at the individual, organizational, national and global level. In this paper, we consider that a knowledge-based approach can offer new possibilities and answers to illustrate the importance of evaluation the human capital and knowledge assets by consistently generating added value in the business world.

  20. CAPITAL ASSET PRICING MODEL METHOD USED IN MEASURING AND ANALYZING COMPANIES LISTED IN PEFINDO25 AT INDONESIA STOCK EXCHANGE PERIOD 2015

    Directory of Open Access Journals (Sweden)

    Francis M HUTABARAT

    2016-08-01

    Full Text Available The industry in Indonesia is an interesting business to capitalize. In Indonesia many companies were established since it is profitable. The capital market serves as an economic pillar in most countries. Indonesia is a rich country, rich in many ways especially in natural resources. However, the industry has its ups and downs in the stock market. It is interesting to see the performance of the companies listed in the Indonesia Stock Exchange.  This study aimed to measure and analyze companies listed in Pefindo25 at Indonesian Stock Exchange using Capital Asset Pricing Model. The sample used is 25 companies listed at Pefindo25 index. Based on the results of the study, it can conclude that after analyzing the companies listed in the Indonesian Stock Exchange using Capital Asset Pricing Model that based on Beta analysis, the companies have the type of stocks that are aggressive and defensive. With positive and negative return. The company with aggressive beta shows that the company tend to face higher risk, as JPFA find itself with positif return 15.47% expected return. And companies with defensive type of stocks tend to have positive return such as: FISH, STTP, AISA, APLN, and others since they are not sensitive to market changes. It is recommended for further research to look on this CAPM method in analyzing the stock investment.

  1. The indicative analysis and ranking of human capital development

    Science.gov (United States)

    Inessa, Gurban; Alexandr, Tarasyev

    2017-07-01

    In this article we discuss the rationale for the importance and effectiveness of the regions ranking as a tool for regional social and economic policies aimed to control the regional socio-economic development. A methodological approach to the determination of the human capital development level in the regions of the Russian Federation is provided focused on determining the quality of human capital in each region of the Russian Federation and the causes underlying this situation. The methodological apparatus is based on the indicative qualimetric analysis method that allows to convert various benchmarks expressed in different units in a comparable type. Also it is possible to receive and differentiate a comprehensive assessment of the human capital level in each region of the Russian Federation on the basis of the proposed classification. In this article we present the structure of the indicators system that simulates the human capital level by a number of descriptive components including demographic, educational, employment, research and socio-cultural components. In our research we found that in the overwhelming majority of the Russian Federation human capital is characterized mainly by a low development level. The system shows unstable dynamics in the human capital level through the Russian Federal Districts, as well as the leaders and laggards in the rating of the Russian Federation during the period 2000-2013. Our article presents the structure of a comprehensive assessment of the human capital level by providing estimates of its components.

  2. Fertility, Human Capital, and Economic Growth over the Demographic Transition.

    Science.gov (United States)

    Lee, Ronald; Mason, Andrew

    2010-05-01

    Do low fertility and population aging lead to economic decline if couples have fewer children, but invest more in each child? By addressing this question, this article extends previous work in which the authors show that population aging leads to an increased demand for wealth that can, under some conditions, lead to increased capital per worker and higher per capita consumption. This article is based on an overlapping generations (OLG) model which highlights the quantity-quality tradeoff and the links between human capital investment and economic growth. It incorporates new national level estimates of human capital investment produced by the National Transfer Accounts project. Simulation analysis is employed to show that, even in the absence of the capital dilution effect, low fertility leads to higher per capita consumption through human capital accumulation, given plausible model parameters.

  3. Human Capital and Its Development in Present-Day Russia

    Science.gov (United States)

    Nureev, R. M.

    2010-01-01

    In the broad sense of the word human capital is a specific form of capital that is embodied in people themselves. It consists of the individual's reserve of health, knowledge, skills, abilities, and motivations that enable him to increase his labor productivity and give him an income in the form of wages, salaries, and other income. The structure…

  4. Has Mexican Education Generated Human or Political Capital?

    Science.gov (United States)

    McGinn, Noel; Street, Susan

    1984-01-01

    Evaluates public education's contributions to Mexico's economic development from 1952-1982. Finds education's principal contribution has not been to improve human capital or government competence; education has instead been a vital source of political capital that has helped to maintain the political system as an "inclusionary…

  5. Intellectual capital statements on their way to the stock exchange: Analyzing new reporting systems

    DEFF Research Database (Denmark)

    Nielsen, Christian; Bukh, P.N.; Mouritsen, J.

    2006-01-01

    and even to compare companies on that basis. Since IPOs are often already part of the capital market's information, the similarities between reading IPOs and intellectual capital statement suggest that intellectual capital statements convey company-specific information relevant for financial analysts......Purpose - The purpose of this paper is to propose and illustrate the use of a set of rules to make an analytical reading of the indicators of an intellectual capital statement possible. Design/methodology/approach - The paper proposes a model to analyze intellectual capital statements and applies...... this model to an intellectual capital statement and an IPO prospectus, as these two reporting forms are suggested to be similar. Thus, they are analyzed using the same methodology. Findings - The paper demonstrates that it is possible to analyze prospectuses and intellectual capital statements systematically...

  6. Endogenous and exogenous dynamics in the fluctuations of capital fluxes. An empirical analysis of the Chinese stock market

    Science.gov (United States)

    Jiang, Z.-Q.; Guo, L.; Zhou, W.-X.

    2007-06-01

    A phenomenological investigation of the endogenous and exogenous dynamics in the fluctuations of capital fluxes is carried out on the Chinese stock market using mean-variance analysis, fluctuation analysis, and their generalizations to higher orders. Non-universal dynamics have been found not only in the scaling exponent α, which is different from the universal values 1/2 and 1, but also in the distributions of the ratio η= σexo / σendo of individual stocks. Both the scaling exponent α of fluctuations and the Hurst exponent Hi increase in logarithmic form with the time scale Δt and the mean traded value per minute , respectively. We find that the scaling exponent αendo of the endogenous fluctuations is independent of the time scale. Multiscaling and multifractal features are observed in the data as well. However, the inhomogeneous impact model is not verified.

  7. The impact of IT investments and intellectual capital on firms’ performance

    OpenAIRE

    Meysam Ghaderi; Mohsen Hamidian; Hosein Jabari

    2015-01-01

    This paper presents an empirical study to determine the effects of four different factors including human capital, innovation capital, communication capital and information technology (IT) capital on firms’ return. The study selects the information of 50 selected firms from Tehran Stock Exchange over the period 2007-2013. Using regression analysis, the study has determined that there were some positive and meaning relationships between human capital, innovation capital, communication capital ...

  8. Working Capital Management and the Profitability of Non- Financial Firms Listed on the Zimbabwe Stock Exchange (ZSE

    Directory of Open Access Journals (Sweden)

    Walter Gachira

    2014-07-01

    Full Text Available Working capital is essential for the day-to-day operations of a firm. The study examines the impact of working capital management on the profitability of non-financial firms listed on the Zimbabwe Stock Exchange (ZSE. Using panel data methodology, the direction and extent of the impact of working capital management on profitability is scrutinised. The regression analysis is based on a panel sample of 39 non-financial firms listed on the ZSE from 2009 to 2013, the period under which the Zimbabwean economy has been operating under the multicurrency system. It was found that there is a positive relationship between debtors’ days and firm’s profitability, a negative relationship between creditors’ days and profitability and a positive relationship between firm’s cash conversion cycle and its profitability. There is some negative relationship between current ratio and profitability, while inventory turnover days and profitability are positively related. Debt to asset ratio as a control variable has a significant negative relationship with firm value and profitability. The results of the study show that for the companies included in the sample, there are mixed effects of the components of working capital on firm performance. Managers can thus create value for shareholders by taking note of the existence of such relationships and take measures that enhance firm profitability.

  9. Human Capital Development: A Strategy for Moving Nigeria into the ...

    African Journals Online (AJOL)

    Human Capital Development: A Strategy for Moving Nigeria into the ... Countries without abundant resources have been excelling because of the emphasis on ... building because she has not been treating education as a priority sector.

  10. The Cumulative Effect of Human Capital on Economic Growth:

    Directory of Open Access Journals (Sweden)

    Sheidaei , Zahra

    2014-06-01

    Full Text Available This article studies the controversial relationship between human capital and growth through different channels using a cross-country panel approach applied for 104 countries, including 79 developing countries and 25 developed countries (OECD during 1980-2011. The analysis yields important insights into the relationship between human capital and growth. Firstly, we find a significant relationship between high levels of human capital and technology adoption Secondly, considering the levels of human capital directly as a innovation component in the productivity function shows that there is a non-linear relationship between this factor and growth. The results provide a new understanding of this relationship and to some extent contradict some earlier studies.

  11. Human Capital Development as a Strategy for Sustainable ...

    African Journals Online (AJOL)

    Nneka Umera-Okeke

    Key Words: Quality education, Human Capital Development, Economic Growth,. Functional Education ... as inhibitors to sustainable development in Nigeria, according to Eze (2017), include: ..... US Academy of Management, Toronto, August.

  12. THE EFFECT OF PROFITABILITY, LIQUIDITY, GROWTH SALES, OPERATING LEVERAGE AND TANGIBILITY ON CAPITAL STRUCTURE (evidence from manufacture firm listed on Indonesia stock exchange in 2011- 2014

    Directory of Open Access Journals (Sweden)

    Hamidah Hamidah

    2016-04-01

    Full Text Available The purpose of this study is to know the effect of profitability, liquidity, sales growth, operating leverage and tangibility on capital structure: evidence from manufacture firm listed on Indonesia Stock Exchange in 2011-2014. The sample using in this study is 41 companies. The research model in this study employs panel data analysis (unbalanced panel with fixed effect approach. The result show that profitability and liquidity have negative and significant effect on capital structure. Sales growth and operating leverage have positive but not significant effect on capital structure. Tangibility have negative and not significant effect on capital structure.

  13. Three Essays on Human Capital in the Public Sector

    OpenAIRE

    Linos, Elizabeth

    2016-01-01

    This dissertation presents three empirical studies on how to improve human capital in the public sector. In reverse chronological order, the essays ask who is attracted to public sector jobs (Paper 3); consider who can actually get a public sector job (Paper 2); and evaluate how current civil servants can be more effective at doing their job (Paper 1). In doing so, the dissertation presents tools that public managers can use to improve human capital within the constraints of government. P...

  14. Human Capital, Population Growth and Economic Development: Beyond Correlations

    OpenAIRE

    Rosenzweig, Mark R.

    1987-01-01

    Empirical evidence on three assertions commonly-made by population policy advocates about the relationships among population growth, human capital formation and economic development is discussed and evaluated in the light of economic-biological models of household behavior and of its relevance to population policy. The three assertions are that (a) population growth and human capital investments jointly reflect and respond to changes in the economic environment, (b) larger families directly i...

  15. Knowledge-Intensive Entrepreneurship and the Impact of Human Capital

    DEFF Research Database (Denmark)

    Madsen, Henning; Neergaard, Helle; Ulhøi, John Parm

    2002-01-01

    The purpose of this paper is to address selected aspects of human capital in association with the entrepreneurial process in technology-based new ventures. Until recently, research investigating the founding of new businesses has mainly focused on the personal characteristics of entrepreneurs...... of a newly founded venture. Furthermore, the dimensions of human capital, experience and previous employment, seem to be essential in building the networks that help secure both the early as well as a continuous pool of finance for the ventures....

  16. El capital humano en el sistema de precios Human capital in the price system

    Directory of Open Access Journals (Sweden)

    Cuevas Homero

    1996-06-01

    Full Text Available Este ensayo explora algunas implicaciones fundamentales de la introducción del capital humano en un sistema de equilibrio general de precios de producción. En particular, las implicaciones sobre las determinación de los salarios, los agregados, la homogeneidad del modelo de trabajo, las proporciones capital trabajo, la tasa natural del beneficio y las fluctuaciones de los precios de equilibrio.This essay explores some fundamental implications of the introduction of human capital in a system of general equilibrium of prices of production. In particular, the implications concerning the determination of wages, the aggregates, the homogenei ty of labor, the capital-labor ratio, the natural rate of profit and the fluctuations of equilibrium prices.

  17. Intellectual capital statements on their way to the stock exchange: Analyzing new reporting systems

    DEFF Research Database (Denmark)

    Nielsen, Christian; Bukh, P.N.; Mouritsen, J.

    2006-01-01

    . Practical implications - The paper presents an analytical model which can be used generally in the analysis of the intellectual capital statement and IPO prospectuses. Originality/value - The paper demonstrates the similarities between an intellectual capital report and an IPO prospectus. Further, the paper...

  18. Cálculo del Stock de Capital para Chile 1985-2000

    OpenAIRE

    Ximena Aguilar; María Paz Collinao

    2001-01-01

    The aim of this work is to determine the Stock of Fixed Assets in Chile, consistent with the macroeconomic measurements of the System of National Accounts (SNA) of the United Nations. In agreement with the recommendations of revision 3 of the SNA, the Stock of Fixed Assets was determined, for the Chilean economy as a whole, at constant prices based 1986, and at current prices. For the calculation of the Stock of Fixed Assets at constant prices, the Perpetual Inventory Method was used, as prop...

  19. Chinese Entrepreneurs Human and Social Capital Benefiting Innovation

    DEFF Research Database (Denmark)

    Jensen, Kent Wickstrøm; Rezaei, Shahamak; Schøtt, Thomas

    2016-01-01

    An entrepreneur’s innovative work tends to benefit from the entrepreneur’s human capital in the form of entrepreneurial competencies partly based on education, and the entrepreneur’s social capital in the form of a network in the public sphere and a network in the private sphere, although this may...... also be a liability. The entrepreneur’s human and social capital depend on the social context, specifically whether the entrepreneur is residing in the home country or in the diaspora. An indigenous entrepreneur is embedded in own country, but a migrant entrepreneur has a dual embeddedness, in the old...... home country and in the new host country. Such dual embeddedness may have a reinforcing or a countervailing impact on the benefits of human and social capital for innovation. Using a sample of 3,593 Chinese entrepreneurs in China and 177 Chinese entrepreneurs residing abroad, we examine the benefits...

  20. Capital Asset Pricing Model Testing at Warsaw Stock Exchange: Are Family Businesses the Remedy for Economic Recessions?

    Directory of Open Access Journals (Sweden)

    Jacek Lipiec

    2014-07-01

    Full Text Available In this article, we test the capital asset pricing model (CAPM on the Warsaw Stock Exchange (WSE by measuring the performance of two portfolios composed of construction firms: family-controlled and nonfamily controlled. These portfolios were selected from the WIG-Construction (WIG—Warszawski Indeks Giełdowy—Warsaw Stock Exchange Index. The performance of both portfolios was measured in the period from 2006 to 2012 with respect to three sub-periods: (1 pre-crisis period: 2006–2007; (2 crisis period: 2008–2009; and (3 post-crisis period: 2010–2012. This division was constructed in this way to find out how family firms performed in crisis times in relation to nonfamily firms. In addition, the construction portfolio was chosen due to its sensitivity to recessions. When an economy faces a downturn, construction firms are among the first to be exposed to risk. The performance was measured by using the capital asset pricing model with statistical inference. We find that public family firms significantly outperformed non-family peers in the crisis times.

  1. Migration Options for Skilled Labor and Optimal Investment in Human Capital

    DEFF Research Database (Denmark)

    Ghoddusi, Hamed; Siyahhan, Baran

    2011-01-01

    of human capital. The analysis shows that the accu- mulation of human capital depends crucially on the level of uncertainty and the transferability of human capital across countries. Government subsidies are an important determinant of the composition of different types of human capital and can be crucial...

  2. 76 FR 69031 - Order of Succession for the Office of the Chief Human Capital Officer

    Science.gov (United States)

    2011-11-07

    ... Succession for the Office of the Chief Human Capital Officer AGENCY: Office of the Chief Human Capital Officer, HUD. ACTION: Notice of order of succession. SUMMARY: In this notice, the Chief Human Capital... Office of the Chief Human Capital Officer. DATES: Effective Date: October 20, 2011. FOR...

  3. The Risk-Return Trade-Off in Human Capital Investment

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Juanna Schrøter; Nielsen, Helena Skyt

    In this paper we analyze investments in human capital assets in a way which is standard for financial assets, but not (yet) for human capital assets. We study mean-variance plots of human capital assets. We compare the properties of human capital returns using a performance measure and by sing...

  4. Implement Fama And French And Capital Asset Pricing Models In Saudi Arabia Stock Market

    National Research Council Canada - National Science Library

    Abdulaziz Aldaarmi; Maysam Abbodb; Hussein Salameh

    2015-01-01

    ... returns.The results show that Fama and French 1993 model has more explanatory power and do a better job in explaining the changes in stock returns than the CAPM, and those developed market models can...

  5. HUMAN CAPITAL ASSESMENT CASE STUDY: KNOWLEDGE BASED ORGANIZATION VS. TOP 100 ORGANIZATIONS LISTED BY MARKET CAPITALIZATION IN THE LAST THREE MONTHS AT THE BSE

    Directory of Open Access Journals (Sweden)

    NICOLETA RADNEANTU

    2013-02-01

    Full Text Available Over time we can see a considerable increase in intangible elements for organizations. But, unfortunately, there is a long and difficult way until the intangible assets such as human capital will be reflected in the financial statements. This paper presents the conclusions of a comparative study conducted using two samples of companies listed on the Bucharest Stock Exchange - companies to be fit in the category "knowledge-based" and companies in the Top 100 regarding the importance of measurable or quantifiable variables for assessing the human capital and implicitly a company. To increase the relevance of the results obtained in addition to mean and quadratic mean deviation we used Paired-Samples T Test.

  6. The Volatility of Indonesia Shari’ah Capital Market Stock Price Toward Macro Economics Variable

    Directory of Open Access Journals (Sweden)

    Helma Malini

    2014-08-01

    Full Text Available Shari’ah stock market is also affected by many highly interrelated economic, social, political andother factor, same as the conventional stock market, the interaction between macroeconomic variablesand Shari’ah stock market creating volatility in the stock price as a response towards severalshocks. The sensitivity of Shari’ah stock market towards shocks happened related with the futureexpectation of micro and macro factor in one country which can be predict or unpredictable.There are six macroeconomic variables that used in this research; inflation, exchange rate, interestrate, dow jones index, crude oil palm price, and FED rate. Using vector error correction model(VECM, the result shows that domestic macroeconomic variables that significantly affect IndonesiaShari’ah compliance for long term, while for international macroeconomic variables the selectedvariable such as FED rate and Dow Jones Index are not significantly affected Indonesia Shari’ahcompliance both in short term and long term. Keywords: Indonesia Shari’ah compliance, Macro Economic Indicators, Impulse Response Function,Stock Price Volatility

  7. ROLE OF HUMAN CAPITAL INVESTMENT IN A COMPETITIVE ECONOMY

    Directory of Open Access Journals (Sweden)

    Mungiu-Pupăzan Mariana Claudia

    2012-12-01

    Full Text Available This paper wants an analysis of investment in human capital as an important resource in the economy. The paper also seeks to strengthen the argument that this resource plays an important role in a competitive economy. The essence of the idea of human capital investment is made in human resources to improve their productivity. Costs are incurred in the expectation of future benefits, hence the term "investment" in human resources. Like all investments, and there is no question if economically justified. The answer to this question depends on whether or not the benefits outweigh the costs by an amount satisfactory or not they apply standard investment criteria.

  8. ANALYSIS OF EFFECT OF PROFITABILITY, ASSETS STRUCTURE, SIZE OF COMPANIES, AND LIQUIDITY TO CAPITAL STRUCTURES IN MINING COMPANIES LISTED IN INDONESIA STOCK EXCHANGE PERIOD 2012 - 2015

    Directory of Open Access Journals (Sweden)

    Gatot Nazir Ahmad

    2017-09-01

    Full Text Available The purpose of this study is to analyze the effect of profitability, structure assets, firm size and liquidity to the capital structure of mining companies listed on the Indonesia Stock Exchange for the period 2012-2015. Sampling technique using purpose sampling. Data analysis technique used in this research is panel data regression. The results showed that partially profitability had negative and significant effect to capital structure, asset structure had positive and significant effect to capital structure, firm size had positive and significant effect to capital structure, and liquidity had negative and significant effect to capital structure. Simultaneously profitability, asset structure, firm size and liquidity have a significant effect on capital structure.

  9. Managing Human Resource based Intellectual Capital in a Global setting

    DEFF Research Database (Denmark)

    Gretzinger, Susanne; Lemke, Sarah; Matiaske, Wenzel

    2014-01-01

    From a strategic management perspective human capital and the embedded knowledge can be viewed as intellectual capital and became inevitably important for companies in general as well as for multinationals. While national companies just have to (re-)combine resources within a homogeneous...... of incentives on retention management and therewith implicates that retention management is significant for the process of developing and fostering a MNCs intellectual capital. To improve their human-resource based intellectual capital MNCs have to adapt their initiatives to the cultural background...... if culturally differentiated incentive systems are necessary for optimised retention management? In the empirical part of this study it was made us of data from 32 countries. The research results reveal a moderating impact of cultural dimensions and therefore a cultural dependency for the effectiveness...

  10. Studying the Relationship between Working Capital Management and Profitability at Tehran Stock Exchange: A Case Study of Food Industry

    Directory of Open Access Journals (Sweden)

    Mosa Ahmadi

    2012-07-01

    Full Text Available This study has investigated the relationship between working capital management and profitability at companies of food industry group member at Tehran Stock Exchange. 33 companies were selected for a period of five years from 2006-2011 and the effect of various variables of working capital management including average accounts collection cycle, inventory turnover, medium-term debt payment and the cash conversion cycle on operational net profit of companies. Current ratio, debt ratio and the company size (which has been measured by natural logarithm of sale was considered as control group (control variable. For data analysis, correlation and regression was used. The results of the study showed that there is a reverse relationship between the variables of working capital management and profitability. It is found out that increasing collection cycle, debt payment period, inventory turnover and cash conversion cycle leads to decreasing profitability in the companies. According to the research findings, managers can create a positive value for stockholders by decreasing collection cycle, debt payment period, inventory turnover and cash conversion cycle to the lowest possible level.

  11. Intermarket Technical Research of the U.S. Capital Markets and the Czech Stock Market Performance

    National Research Council Canada - National Science Library

    Vychytilová, Jana

    Globalization of the capital markets increasingly leads the investors to understand the fundamentals and technicals of asset cross-correlations and the global asset allocation seems to be an important task...

  12. Prophetic Best Practices in Business for Human Capital Development

    Directory of Open Access Journals (Sweden)

    Siti Akmar Abu Samah

    2011-12-01

    Full Text Available Human capital has been the most crucial current topic of this modern life. Competition in business and industry requires human resource that spells excellence, knowledgeable, discipline and visionary. With the rise of conscious market-driven community, many have concluded that to achieve the highest stake in business is to simultaneously reconstruct the moral consciousness. Henceforth, learning from past leaders, their legacy has been left with much to be desired by shortcomings, conflicts of interest and at times, destructions. In promoting the virtuous awareness, education has to take the lead through human capital development. In the attempt to apply the landmark practices of Prophet Muhammad (pbuh, and his management principles, this discursive overview intends to provide the application of the prophetic tradition in the management field as the foundation for application in aspects of discipline which include business, law, education, just to state a few. Therefore, this paper intends to study the Islamic management elements of Prophet Muhammad (pbuh by providing insights to the following questions. The first question is, how does human capital development raise moral consciousness in terms of business practices set forth by prophetic tradition? Can current situations apply such emulations of managing human capital and hence, enhance the quality of our life within the family, in the community and for the nation? With the increasingly diverse expectations, management practices and skills of Prophet Muhammad (pbuh contribute to provide the pathway of managing the human capital development presented as answers to the above questions.

  13. Does social capital affect investment in human capital? Family ties and schooling decisions

    NARCIS (Netherlands)

    Di Falco, Salvatore; Bulte, E.H.

    2015-01-01

    We analyse whether traditional sharing norms within kinship networks affect education decisions of poor black households in KwaZulu-Natal. Theory predicts that the size of the kinship network ambiguously impacts on the incentive to invest in human capital (due to opposing ‘empathy’ and ‘free-rider’

  14. Does social capital affect investment in human capital? Family ties and schooling decisions

    NARCIS (Netherlands)

    Falco, Di Salvatore; Bulte, Erwin

    2015-01-01

    We analyse whether traditional sharing norms within kinship networks affect education decisions of poor black households in KwaZulu-Natal. Theory predicts that the size of the kinship network ambiguously impacts on the incentive to invest in human capital (due to opposing ‘empathy’ and ‘free-ride

  15. Modeling the effects of urban expansion on natural capital stocks and ecosystem service flows: A case study in the Puget Sound, Washington, USA

    Science.gov (United States)

    Zank, Ben; Bagstad, Kenneth J.; Voigt, Brian; Villa, Ferdinando

    2016-01-01

    Urban expansion and its associated landscape modifications are important drivers of changes in ecosystem service (ES). This study examined the effects of two alternative land use-change development scenarios in the Puget Sound region of Washington State on natural capital stocks and ES flows. Land-use change model outputs served as inputs to five ES models developed using the Artificial Intelligence for Ecosystem Services (ARIES) platform. While natural capital stocks declined under managed (1.3–5.8%) and unmanaged (2.8–11.8%) development scenarios, ES flows increased by 18.5–56% and 23.2–55.7%, respectively. Human development of natural landscapes reduced their capacity for service provision, while simultaneously adding beneficiaries, particularly along the urban fringe. Using global and local Moran’s I, we identified three distinct patterns of change in ES due to projected landuse change. For services with location-dependent beneficiaries – open space proximity, viewsheds, and flood regulation – urbanization led to increased clustering and hot-spot intensities. ES flows were greatest in the managed land-use change scenario for open space proximity and flood regulation, and in the unmanaged land-use change scenario for viewsheds—a consequence of the differing ES flow mechanisms underpinning these services. We observed a third pattern – general declines in service provision – for carbon storage and sediment retention, where beneficiaries in our analysis were not location dependent. Contrary to past authors’ finding of ES declines under urbanization, a more nuanced analysis that maps and quantifies ES provision, beneficiaries, and flows better identifies gains and losses for specific ES beneficiaries as urban areas expand.

  16. Human Capital, HRD and VET: The Case of India

    Science.gov (United States)

    Tomé, Eduardo; Goyal, Apoorva

    2015-01-01

    Purpose: This paper aims to analyze the role of human capital (HC), human resource development (HRD) and vocational educational and training (VET) in the emerging Indian economy. How may we define the HC, HRD and VET in India? To what extent and how as HRD investments in India contributed to India's recent economic development? What were the…

  17. Principles in selecting human capital measurements and metrics

    OpenAIRE

    2014-01-01

    Orientation: Physical and natural resources have been surpassed by human capital as aresource of wealth creation. As a result, senior management relies increasingly on appropriatepeople information to drive strategic change. Yet, measurement within the human resourcefunction predominantly informs decisions in support of efficiency and effectiveness. Consequently, dissimilar understanding of measurement expectations between these partieslargely continues.Research purpose: The study explored pr...

  18. Human Capital, HRD and VET: The Case of India

    Science.gov (United States)

    Tomé, Eduardo; Goyal, Apoorva

    2015-01-01

    Purpose: This paper aims to analyze the role of human capital (HC), human resource development (HRD) and vocational educational and training (VET) in the emerging Indian economy. How may we define the HC, HRD and VET in India? To what extent and how as HRD investments in India contributed to India's recent economic development? What were the…

  19. Human capital and human resource management to achieve ambidextrous learning: A structural perspective

    Directory of Open Access Journals (Sweden)

    Mirta Diaz-Fernandez

    2017-01-01

    Full Text Available Organisational learning has become increasingly important for strategic renewal. Ambidextrous organisations are especially successful in the current environment, where firms are required to be efficient and adapt to change. Using a structural approach, this study discusses arguments about the nature of ambidexterity and identifies the kinds of human capital that better support specific learning types and HRM practices suited to these components of human capital. Results highlight learning differences between marketing and production units, as well as different HRM practices and human capital orientations. This study points out that human capital mediates between HRM practices and learning.

  20. On The Research of Foreign and Domestic Human Capital Theory

    Institute of Scientific and Technical Information of China (English)

    Li Fuzhu

    2005-01-01

    Human Capital Theory came into being in the middle and later periods of the 20th century.A lot of achievements have been made on the research in its connotation, measures of the value, investment and income, function mechanism and so on, by foreign scholars. In recent 10 years of the new Millennium ahernation, the "steal business effect" and the structure of human capital on the mechanism of economic rise has become the two emphasis in current foreign Human Capital Theory's research. On the basis of foreign researches and Chinese situations, domestic scholars have enriched and developed it, but there are many disparities in its methods, aspects and levels between foreign and domestic researches.

  1. The Internationalization of Small and Medium Enterprises and Human Capital

    Directory of Open Access Journals (Sweden)

    Laura Godelytė

    2015-05-01

    Full Text Available Small and medium enterprises (SME’s are generally recognised as a factor, which influences economic growth and impacting competitiveness of country. In the context of globalization the impact of internationalization of SME’s is increasing and determines development of new technologies. The internationalization of SME’s is determined to a large extent by the human capital of entrepreneurs/managers. The aim of this article is to analyse and summarise elements of human capital, that are discussed in scientific literature and to distinguish the most important for SME’s internationalization. The research is based on the evaluation of human capital in scientific literature and analysis and synthesis of questions of SME’s internationalization.

  2. Financial Development,Human Capital and Economic Growth

    Institute of Scientific and Technical Information of China (English)

    Guihong; WAN

    2014-01-01

    Financial development and human capital are the important driving forces of economic and social development in Shandong Province,and the level of them as well as the degree of coordination between the two not only affects the transformation of economic development pattern in Shandong Province,but also affects the implementation of leapfrog development strategy in Shandong Province. Through the study,it is found that there is a long-term stable dynamic equilibrium relationship among economic growth,human capital and financial development;the degree of coordination between financial development and human capital in Shandong Province is constantly improved,evolving from imbalance to balance. Obviously,the coordination between financial development and urbanization construction in Shandong Province continues to improve.

  3. Endogenous and exogenous dynamics in the fluctuations of capital fluxes: An empirical analysis of the Chinese stock market

    CERN Document Server

    Jiang, Z Q; Zhou, W X; Guo, Liang; Jiang, Zhi-Qiang; Zhou, Wei-Xing

    2007-01-01

    A phenomenological investigation of the endogenous and exogenous dynamics in the fluctuations of capital fluxes is investigated on the Chinese stock market using mean-variance analysis, fluctuation analysis and their generalizations to higher orders. Non-universal dynamics have been found not only in $\\alpha$ exponents different from the universal value 1/2 and 1 but also in the distributions of the ratios $\\eta_i = \\sigma_i^{\\rm{exo}} / \\sigma_i^{\\rm{endo}}$. Both the scaling exponent $\\alpha$ of fluctuations and the Hurst exponent $H_i$ increase in logarithmic form with the time scale $\\Delta t$ and the mean traded value per minute $$, respectively. We find that the scaling exponent $\\alpha^{\\rm{endo}}$ of the endogenous fluctuations is found to be independent of the time scale, while the exponent of exogenous fluctuations $\\alpha^{\\rm{exo}}=1$. Multiscaling and multifractal features are observed in the data as well. However, the inhomogeneous impact model is not verified.

  4. Human capital development and a Social License to Operate

    DEFF Research Database (Denmark)

    Smits, Coco C. A.; Justinussen, Jens Christian Svabo; Bertelsen, Rasmus Gjedssø

    2016-01-01

    of a Social License to Operate addresses the acceptance of an activity by local communities and other stakeholders. This manuscript explores the role human capital development in obtaining and maintaining a Social License to Operate in Iceland, the Faroe Islands and Greenland. As trust and legitimacy...... are the two fundamental principles on which a Social License to Operate is based, these are being examined more closely. On the basis of three case studies, this manuscript explores how human capital development can contribute to the legitimacy of Arctic energy development and trust building between various...

  5. Human capital development and a Social License to Operate

    DEFF Research Database (Denmark)

    Smits, Coco; Justinussen, Jens Christian Svabo; Bertelsen, Rasmus Gjedssø

    2016-01-01

    of a Social License to Operate addresses the acceptance of an activity by local communities and other stakeholders. This manuscript explores the role human capital development in obtaining and maintaining a Social License to Operate in Iceland, the Faroe Islands and Greenland. As trust and legitimacy...... are the two fundamental principles on which a Social License to Operate is based, these are being examined more closely. On the basis of three case studies, this manuscript explores how human capital development can contribute to the legitimacy of Arctic energy development and trust building between various...

  6. Evaluating human, social and cultural capital in nurse education.

    Science.gov (United States)

    Royal, Jan

    2012-07-01

    Using the concepts of human, social and cultural capital this paper will review the literature on these theories and evaluate their application to nurse education in the United Kingdom (UK). Each concept will be explored before considering the impact and application within nurse education. Issues of sponsorship via mentoring and increased skills and contribution to the knowledge economy alongside the delivery of quality care by nursing students will be discussed with reference to theory and current policy drivers. As nursing education moves to a graduate profession in the UK this paper evaluates the drivers of human, social and cultural capital that affect this development.

  7. HUMAN CAPITAL GROWTH AND POVERTY: EVIDENCE FROM ETHIOPIA AND PERU.

    Science.gov (United States)

    Attanasio, Orazio; Meghir, Costas; Nix, Emily; Salvati, Francesca

    2017-04-01

    In this paper we use high quality data from two developing countries, Ethiopia and Peru, to estimate the production functions of human capital from age 1 to age 15. We characterize the nature of persistence and dynamic complementarities between two components of human capital: health and cognition. We also explore the implications of different functional form assumptions for the production functions. We find that more able and higher income parents invest more, particularly at younger ages when investments have the greatest impacts. These differences in investments by parental income lead to large gaps in inequality by age 8 that persist through age 15.

  8. Investment in Human Capital through Institutions of Higher Education for the Revival of Kenya's Economy

    Science.gov (United States)

    Wawire, Nelson W.; Nafukho, Fredrick M.

    2006-01-01

    Despite economic theory postulating that increases in investment in human capital and physical capital leads to increase in economic growth, in the Kenyan case, this has not been true. This paper empirically examines the contribution of human capital and physical capital to economic growth in Kenya. Measures to be undertaken by higher education…

  9. Essays on public policy and human capital

    OpenAIRE

    Berniell Mac Allister, María Lucila

    2015-01-01

    Esta tesis doctoral consta de tres capítulos que tratan diferentes aspectos a través de los cuales la política pública puede afectar las decisiones de las personas acerca de invertir en su capital humano. El primer capítulo analiza los efectos de una llegada masiva de inmigrantes en los patrones de elección de escuela en España. El segundo capítulo se enfoca en entender cómo la familia y la escuela pueden interactuar en la formación de hábitos saludables en el hogar. El tercer capítu...

  10. Human capital and its development in the context of higher education.

    Directory of Open Access Journals (Sweden)

    Borova T.A.

    2011-08-01

    Full Text Available The article analyzes the concept of human capital in the context of higher education. The components of human capital are identified and characterized in the sphere of the University's teachers' staff. The important factors of human capital are considered. The definition of the higher school human capital is given. The components that can influence on human capital development in higher school are described. The basic elements of human capital and ways of its formation in the system of higher education are singled out.

  11. Chinese Entrepreneurs Human and Social Capital Benefiting Innovation

    DEFF Research Database (Denmark)

    Jensen, Kent Wickstrøm; Rezaei, Shahamak; Schøtt, Thomas

    2016-01-01

    An entrepreneur’s innovative work tends to benefit from the entrepreneur’s human capital in the form of entrepreneurial competencies partly based on education, and the entrepreneur’s social capital in the form of a network in the public sphere and a network in the private sphere, although this may...... home country and in the new host country. Such dual embeddedness may have a reinforcing or a countervailing impact on the benefits of human and social capital for innovation. Using a sample of 3,593 Chinese entrepreneurs in China and 177 Chinese entrepreneurs residing abroad, we examine the benefits...... considered in this study, we found that only the more specific entrepreneurial competencies showed different dynamics for innovation in the diaspora compared to the home country....

  12. The implications of financial performance on stock exchange indicators of listed companies: empirical evidence for the Romanian capital market

    Directory of Open Access Journals (Sweden)

    Iulia-Oana ȘTEFAN(BELCIC-ȘTEFAN

    2016-08-01

    Full Text Available This paper examines and quantifies the implications of financial indicators of performance on the share return of companies listed on Bucharest Stock Exchange. These implications are even more relevant as the Romanian capital market could benefit from increased visibility with its reclassification as an emerging capital market in the near future. The research is conducted at the level of 33 companies listed on BSE for the time frame 2011-2013, building a multiple linear regression model that quantifies the variation in price to book value depending on the evolution of nine financial indicators of performance out of a total of 38 such possible indicators. Correcting the effects of serial correlation within the model led to its respecification resorting to the generalized differences procedure. The value of the R-squared coefficient of determination for the processed model is 0.543, eight of the nine independent variables being significant at the 1% level. The 0 probability associated to the F-test as well as its value confirm that the regression equation is globally significant. Also, all the assumptions for validating the estimated model are confirmed, both general ones, characteristic to the multiple linear regression procedure, and, in particular, according to the specific set of data under processing. The applied usefulness of the regression model is valued in the next step of the research, that of testing the effectiveness of the Romanian capital market, after which it was found that the influence of financial performance indicators was already incorporated into the market price since the end of the reporting period.

  13. Predicting Stock Returns in the Capital Asset Pricing Model Using Quantile Regression and Belief Functions

    OpenAIRE

    Autchariyapanitkul, K; S Chanaim; Sriboonchitta, S; DENOEUX, T

    2014-01-01

    International audience; We consider an inference method for prediction based on belief functions in quantile regression with an asymmetric Laplace distribution. We apply this method to the capital asset pricing model to estimate the beta coefficient and measure volatility under various market conditions at given quantiles. Likelihood-based belief functions are constructed from historical data of the securities in the S&P500 market. The results give us evidence on the systematic risk, in the f...

  14. Human Capital Augmentation versus the Signaling Value of MBA Education

    Science.gov (United States)

    Hussey, Andrew

    2012-01-01

    Panel data on MBA graduates is used in an attempt to empirically distinguish between human capital and signaling models of education. The existence of employment observations prior to MBA enrollment allows for the control of unobserved ability or selection into MBA programs (through the use of individual fixed effects). In addition, variation in…

  15. ADN to BSN: lessons from human capital theory.

    Science.gov (United States)

    Graf, Christina M

    2006-01-01

    Currently, approximately 16% of associate degree nursing (ADN) graduates acquire baccalaureate or higher degrees. Human capital analysis demonstrated negative to minimal average returns on investment (ROI) in BSN education. Increasing the ROI may influence ADNs to pursue baccalaureate education and can be an effective strategy for meeting the projected need for BSN-prepared nurses.

  16. The Strategic Management of Human Capital: Issues and Ideas

    Science.gov (United States)

    Berry, Barnett

    2008-01-01

    Most recently a number of school districts, with support from growing numbers of philanthropic foundations, have been honing in on the strategic management of human capital(SMHC)--which has been defined as "the acquisition, development, performance management and retention of top talent." Granted, over the last two decades policymakers and…

  17. FDI spillovers, absorptive capacities and human capital development

    DEFF Research Database (Denmark)

    Narula, Rajneesh; Marin, Anabel

    2003-01-01

    It is nowadays generally accepted that inward foreign direct investment (FDI) is crucialas a source of technological spillovers. One of the objectives of this paper is to review theevidence on the quantity and quality of human capital employed by domestic and foreignfirms. We examine whether spil...

  18. Building Social, Human, and Cultural Capital through Parental Involvement

    Science.gov (United States)

    Bjork, Lars G.; Lewis, Wayne D.; Browne-Ferrigno, Tricia; Donkor, Anthony

    2012-01-01

    This article examines the relationship between schools and society in the United States and uses human, social, and cultural capital theories to reframe the discussion of the role of schools in nurturing parent engagement. We argue that the ramifications of parent engagement in schools transcend functionalist ideas of complying with state and…

  19. Applying Organizational Commitment and Human Capital Theories to Emigration Research

    Science.gov (United States)

    Verkhohlyad, Olga; McLean, Gary N.

    2012-01-01

    Purpose: This study aims to bring some additional insight into the issue of emigration by establishing a relationship between emigration and psychic return of citizens to their human capital investment in the country. Design/methodology/approach: The article adopts a quantitative research strategy. It applies organizational commitment and human…

  20. Inequality in Human Capital and Endogenous Credit Constraints.

    Science.gov (United States)

    Hai, Rong; Heckman, James J

    2017-04-01

    This paper investigates the determinants of inequality in human capital with an emphasis on the role of the credit constraints. We develop and estimate a model in which individuals face uninsured human capital risks and invest in education, acquire work experience, accumulate assets and smooth consumption. Agents can borrow from the private lending market and from government student loan programs. The private market credit limit is explicitly derived by extending the natural borrowing limit of Aiyagari (1994) to incorporate endogenous labor supply, human capital accumulation, psychic costs of working, and age. We quantify the effects of cognitive ability, noncognitive ability, parental education, and parental wealth on educational attainment, wages, and consumption. We conduct counterfactual experiments with respect to tuition subsidies and enhanced student loan limits and evaluate their effects on educational attainment and inequality. We compare the performance of our model with an influential ad hoc model in the literature with education-specific fixed loan limits. We find evidence of substantial life cycle credit constraints that affect human capital accumulation and inequality. The constrained fall into two groups: those who are permanently poor over their lifetimes and a group of well-endowed individuals with rising high levels of acquired skills who are constrained early in their life cycles. Equalizing cognitive and noncognitive ability has dramatic effects on inequality. Equalizing parental backgrounds has much weaker effects. Tuition costs have weak effects on inequality.

  1. Educating Lone Wolves: Pedagogical Implications of Human Capital Theory.

    Science.gov (United States)

    Baptiste, Ian

    2001-01-01

    Educational practices based on human capital theory are unlikely to alleviate social inequities because the theory views people as isolated materialists driven by desire for goods and security. It assumes an educational meritocracy in which socioeconomic status is limited only by educational investment, and more educated people are presumed to be…

  2. Variations in Human Capital Investment Activity by Age.

    Science.gov (United States)

    Simpson, Patricia A.; Greller, Martin M.; Stroh, Linda K.

    2002-01-01

    Late-career workers (ages 50-65) were more likely to participate in credentialing programs, targeted job-related courses, and on-the-job computer training than younger adults and received similar employer support. However, participation might be a consequence of support received. Human capital investment thus is more complex than conventional…

  3. Taking Human Capital Investment Seriously: Reflections on Educational Reform

    Science.gov (United States)

    Kang, Trivina

    2004-01-01

    This paper presents the 2002 Junior College/Upper Secondary Review in Singapore in the context of the nation-state's commitment to human capital investment. It discusses how these changes have led to a radically altered upper secondary educational landscape through the implementation of the Integrated Programme, the establishment of Specialized…

  4. The Development of Human Capital in Young Entrepreneurs

    Science.gov (United States)

    Hickie, James

    2011-01-01

    This paper provides insights into the human capital development of a group of young entrepreneurs, all of whom have built growth businesses with turnovers of between 1M British Pounds and 90M British Pounds. Their development of knowledge and skills was investigated before and during the creation of their first main ventures. This is significant…

  5. Human Capital-Intensive Firms and Symbolic Value Creation

    Directory of Open Access Journals (Sweden)

    Cezanne Cécile

    2014-06-01

    Full Text Available The aim of this paper is to study the process of symbolic value creation of human capital-intensive firms. Human capital is a critical resource for firms’ activities. Nevertheless, this dimension is often obscured by industrial economists. In the light of critical resource theory, we analyze how taking into account the inalienable and inimitable nature of specific human capital entails a reconsideration of the role and boundaries of the firm. We show that the firm seeks to coordinate the specialization of its key partners within the frame of its economic boundaries to ensure the long-term optimization of its potential of value. Therefore, the value of the firm depends on all the resources that the firm coordinates. Then we focus on the way HCIF can create different values. We suggest that the firm builds its competitive advantage on different forms of values, in particular the symbolic value incorporated in human capital. Finally, on the basis of these considerations, we identify the wealth included in the critical resources of the firm and to bring to light the process of symbolic value creation associated with it. We suggest that the firm is the value creating entity and the customer both recognizes and derives the value created from whatever it is that the firm provides. We propose a definition of this value and a schema of its creation process based on management works attempts. We conclude by proposing paths of research that could fruitfully be explored to further develop this new subject.

  6. Applying Organizational Commitment and Human Capital Theories to Emigration Research

    Science.gov (United States)

    Verkhohlyad, Olga; McLean, Gary N.

    2012-01-01

    Purpose: This study aims to bring some additional insight into the issue of emigration by establishing a relationship between emigration and psychic return of citizens to their human capital investment in the country. Design/methodology/approach: The article adopts a quantitative research strategy. It applies organizational commitment and human…

  7. On the uncertain nature of human capital investments

    NARCIS (Netherlands)

    Mazza, J.

    2012-01-01

    The four studies presented here pertain to an often neglected characteristic of educational investments in human capital literature: its unpredictability and how individuals account for and respond to it. The first study elicits, from a sample of Dutch high school students, the level of information

  8. Does Human Capital Contribute to Economic Growth in Mauritius?

    Science.gov (United States)

    Neeliah, Harris; Seetanah, Boopen

    2016-01-01

    Purpose: Real gross domestic product (GDP) growth for Mauritius has averaged more than 5 per cent since 1970 and GDP per capita has increased more than tenfold between 1970 and 2012, from less than $500 to more than $9,000. It has often been reported that human capital, along with other growth enablers, has played an important role in this…

  9. Does Human Capital Contribute to Economic Growth in Mauritius?

    Science.gov (United States)

    Neeliah, Harris; Seetanah, Boopen

    2016-01-01

    Purpose: Real gross domestic product (GDP) growth for Mauritius has averaged more than 5 per cent since 1970 and GDP per capita has increased more than tenfold between 1970 and 2012, from less than $500 to more than $9,000. It has often been reported that human capital, along with other growth enablers, has played an important role in this…

  10. Bright Futures?: Human Capital Dilemmas Cloud New England Outlook

    Science.gov (United States)

    Peirce, Neal R.; Johnson, Curtis

    2003-01-01

    In this article, the authors discuss the problematic trends affecting New England's human capital. These trends include migration to other states of New England's graduates due to high cost of living; more than 60 percent of college dropouts; and the decision of most companies to outsource jobs in India and other countries.

  11. Human Capital Planning in Higher Education Institutions: A Strategic Human Resource Development Initiative in Jordan

    Science.gov (United States)

    Khasawneh, Samer

    2011-01-01

    Purpose: The primary purpose of this study is to determine the status of human capital planning in higher education institutions in Jordan. Design/methodology/approach: A random sample of 120 faculty members (in administrative positions) responded to a human capital planning (HCP) survey. The survey consisted of a pool of 38 items distributed over…

  12. Valuable human capital: the aging health care worker.

    Science.gov (United States)

    Collins, Sandra K; Collins, Kevin S

    2006-01-01

    With the workforce growing older and the supply of younger workers diminishing, it is critical for health care managers to understand the factors necessary to capitalize on their vintage employees. Retaining this segment of the workforce has a multitude of benefits including the preservation of valuable intellectual capital, which is necessary to ensure that health care organizations maintain their competitive advantage in the consumer-driven market. Retaining the aging employee is possible if health care managers learn the motivators and training differences associated with this category of the workforce. These employees should be considered a valuable resource of human capital because without their extensive expertise, intense loyalty and work ethic, and superior customer service skills, health care organizations could suffer severe economic repercussions in the near future.

  13. COST OF CAPITAL VALUATION BEST PRACTICES IN BRAZILIAN PUBLIC STOCK OFFER

    OpenAIRE

    EDUARDO MONEGALHA RODRIGUES

    2009-01-01

    No período de 2004 a 2008, foram registradas, no Brasil, 199 ofertas públicas de ações, sendo 111 ofertas iniciais de ações, basicamente abertura de capital registrada na Bolsa de Valores de São Paulo; e 88 ofertas públicas de ações registradas na Comissão de Valores Mobiliários, com finalidades diversas. Utilizando uma amostra de 50 ofertas públicas, observamos as principais práticas de avaliação de empresas adotadas pelos principais agentes financeiros que atuam no país. C...

  14. Principles in selecting human capital measurements and metrics

    Directory of Open Access Journals (Sweden)

    Pharny D. Chrysler-Fox

    2014-02-01

    Full Text Available Orientation: Physical and natural resources have been surpassed by human capital as aresource of wealth creation. As a result, senior management relies increasingly on appropriatepeople information to drive strategic change. Yet, measurement within the human resourcefunction predominantly informs decisions in support of efficiency and effectiveness. Consequently, dissimilar understanding of measurement expectations between these partieslargely continues.Research purpose: The study explored principles in selecting human capital measurements,drawing on the views and recommendations of human resource management professionals,all experts in human capital measurement.Motivation for the study: The motivation was to advance the understanding of selectingappropriate and strategic valid measurements, in order for human resource practitioners tocontribute to creating value and driving strategic change.Research design, approach and method: A qualitative approach, with purposively selectedcases from a selected panel of human capital measurement experts, generated a datasetthrough unstructured interviews, which were analysed thematically.Main findings: Nineteen themes were found. They represent a process that considers thecentrality of the business strategy and a systemic integration across multiple value chains inthe organisation through business partnering, in order to select measurements and generatemanagement level-appropriate information.Practical/managerial implications: Measurement practitioners, in partnership withmanagement from other functions, should integrate the business strategy across multiplevalue chains in order to select measurements. Analytics becomes critical in discoveringrelationships and formulating hypotheses to understand value creation. Higher educationinstitutions should produce graduates able to deal with systems thinking and to operatewithin complexity.Contribution: This study identified principles to select measurements and

  15. Human capital measures, strategy and performance: HR managers' perceptions

    OpenAIRE

    Gates, Stephen; Langevin, Pascal

    2010-01-01

    The purpose of this paper is to report the results of a survey and interviews with human resource (HR) professionals to identify and better understand their perceptions and expectations of human capital measures' (HCM) content, links to strategy, and impact on performance. This paper relies on a quantitative analysis of survey questionnaires collected from 104 HR executives, as well as on a qualitative investigation using six interviews. Two types of HCM are derived using principal component ...

  16. Eavluation of Highway Capital Stock of China: 1952--2010%1952—2010年中国公路资本存量的估算

    Institute of Scientific and Technical Information of China (English)

    邢亚茹; 王家明

    2012-01-01

    资本存量是国家财富的重要实现形式,公路在资本总量中占据重要地位,科学核算公路资本存量具有重要作用。通过分析比较已有的研究成果,根据公路资产特点,对公路资本存量估算过程中重要指标进行细致的选择和处理,利用公路行业统计资料和国民经济核算历史资料,采用永续盘存法对中国公路资本存量进行了重新估算,为相关实证研究提供了比较全面和准确的数据支持。%Capital stock is an important realization form of national wealth. Highway in the capital stock occupies an important position in China. Scientific accounting of the stock plays an important role. Based on analysis and comparison of the existed research results, through careful selection and manipulation of the important indicators in the estimation prosess of the capital stock, and using the highway statistics and national accounting historical data, this paper tried to use the perpetual inventory method (PIM) to recalculate the highway capital stock of China, which provided overall data-support for the related empirical research.

  17. System diagnostics of the human capital state of the Russianregions: conceptual approach and assessmentresults

    Directory of Open Access Journals (Sweden)

    Inessa Alexandrovna Gurban

    2012-12-01

    Full Text Available The paper outlines evolution of human capital theory. It provides a methodological approachfor measuringthe level of human capital development in the regions of Russian Federation. The approach suggested enables to determine the qualitative state of human capital in each region, to find out the reasons underpinning the current situation, to asses regions’ contribution to the overall national human capital, to develop someindividual approach to forming another quality human capital and its managing foreach territory. The methodology afforded theinstrumentwarebased on the qualimetricanalysis, whichuses the natural estimates (indicators of an object. A system of indicators simulating the human capital state puts forward the following modules: demographic, educational, labor, research and sociocultural. The tool offered allows differentiation of the Russian regions into the levels of human capital state. The 2011 rating of Russian regions according to the human capital state is given.

  18. Human Capital Quality and Development: An Employers' and Employees' Comparative Insight

    Directory of Open Access Journals (Sweden)

    Neagu Olimpia

    2016-09-01

    Full Text Available The aim of the paper is to compare the employers' and employees' insights on human capital quality defining and human capital development at organisational level, based on a survey carried out in the county of Satu Mare, Romania. Our findings show that as human capital buyers, employers understand by human capital quality professional background and skills, professional behaviour and efficiency and productivity for the organisation. As human capital sellers, for employees human capital quality means health and the ability to learn and to be suitable to the job requirements. Regarding the opportunities to develop the organisational human capital, the views of employers and employees are very different when the level of discussion is international (macro-level. Employees consider that the international environment has a greater impact on human capital development in their organisation as the employers.

  19. Chief Human Capital Officers Council (CHCOC)'s Members and Assistants

    Data.gov (United States)

    Office of Personnel Management — List of members of the Chief Human Capital Officers Council (CHCOC): Federal Chief Human Capital Officers (CHCOs) and Deputy CHCOs, as well as the council's chair,...

  20. Intellectual Capital: A Focus on Human Capital Reporting Practices of Top Malaysian Listed Companies

    Directory of Open Access Journals (Sweden)

    Norhayati Mat Husin

    2011-04-01

    Full Text Available This paper aims to examine the extent of human capital (HC reporting among top Malaysian companies and introduce an HC reporting guideline that can be used by Malaysian companies and regulator. It begins by developing the HC framework based on previous intellectual capital (IC frameworks. This framework is then used to examine each of the top 100 Malaysian companies listed on the Bursa Malaysia in year 2008. Using the content analysis method, it reviews the annual reports of these companies to determine the extent of HC reporting. The findings of this paper highlight the need for the development of IC framework particularly on HC. HC differences were also identified between Malaysia and other countries such as Sri Lanka and Australia, and it is argued that these differences can be attributed to the social, economic, and political factors.

  1. Tenure, Experience, Human Capital and Wages: A Tractable Equilibrium Search Model of Wage Dynamics

    OpenAIRE

    Bagger, Jesper; Fontaine, François; Postel-Vinay, Fabien; Robin, Jean-Marc

    2011-01-01

    We develop and estimate an equilibrium job search model of worker careers, allowing for human capital accumulation, employer heterogeneity and individual-level shocks. Career wage growth is decomposed into the contributions of human capital and job search, within and between jobs. Human capital accumulation is largest for highly educated workers, and both human capital accumulation and job search contribute to the observed concavity of wage-experience profiles. The contribution from job searc...

  2. Building "Special Capital" for Entrepreneurial Development: Special Populations as Human Capital in the Context of Global Development

    Science.gov (United States)

    Walker, Gabriela

    2010-01-01

    Ten to twelve percent of the world population is identified as having one or more types of disability. This ecodeme has been historically known to be discriminated, marginalized, and disempowered by the lack of access to resources and to education. This article discusses the importance of adding special capital to the global human capital in the…

  3. Chicano Return Migration to the Southwest: An Integrated Human Capital Approach.

    Science.gov (United States)

    Saenz, Rogelio; Davila, Alberto

    1992-01-01

    Examines the relationships among human capital, employment, and ethnic factors, and return migration to the Southwest among Chicanos using an integrated human capital framework and data for 1,926 Chicano householders. Results suggest the importance of various human capital, employment, and ethnic composition variables as predictors of Chicano…

  4. Business Teacher Education (BTE); A Panacea for Human Capital Development in Nigeria

    Science.gov (United States)

    Okifo, Joseph; Ayo, Abel O.

    2015-01-01

    The focus of this paper is on business teacher education, a panacea for human capital development in Nigeria. Human capital suggests that education, and training, health and standard of living raises the productivity of workers and increases their lifetime earning capacity. Therefore, BTE is a panacea for human capital development because the…

  5. Auditor human capital and audit firm survival - The Dutch audit industry in 1930-1992

    NARCIS (Netherlands)

    Brocheler, [No Value; Maijoor, S; van Witteloostuijn, A; Bröcheler, V.

    2004-01-01

    This paper studies the relationship between auditor human capital and audit firm survival. Specifically, the effects are investigated of the human capital of auditors on the survival chances of newly established audit firms. Human capital is analyzed both at the time of entry of a new audit firm and

  6. Analyzing the impact of human capital factors on competitivenes

    Directory of Open Access Journals (Sweden)

    Óhegyi Katalin

    2014-01-01

    Full Text Available There are a number of approaches to measure national competitiveness. However, in these reports human capital typically appears indirectly. The author's purpose is to uncover how human capital contributes to competitiveness of economies and to propose an approach to identify the most effective improvement opportunities for countries, illustrated on the example of Hungary. The analysis is based on the data of the Global Talent Index Report (2011 and the Global Competitiveness Report 2012-2013. The components of the Global Talent Index (GTI and their relation to the Global Competitiveness Index (GCI were analyzed with a linear programming based similarity analysis method, component-based object comparison for objectivity (COCO. Based on the output of the analysis it was identified how sensitive the Global Competitiveness Index is to the components of the GTI. Hungary's position was analyzed further to quantify improvement opportunities and threats based on the step function resulted by the COCO analysis. The author concludes that the human resource of a country is a pivotal element of national competitiveness. By developing human capital of the country the overall competitive position may be improved. Areas of priorities may be identified and the level of intervention may be quantified specific to a country. This could help policy makers to decide in the allocation of resource to maximize effectiveness, leading to improve (or protect a country's overall competitive position in the global arena.

  7. THE FORMATION OF HUMAN CAPITAL IN UNIVERSITY EDUCATION

    Directory of Open Access Journals (Sweden)

    Evgeniya Alekseevna Kurenkova

    2015-01-01

    Full Text Available Human development is the basis of social progress in the modern world. University education has an important role in the formation of human capital. The form of human capital has tangible and intangible investments. Intangible investment is higher education. The aim of the article is to show the formation of the human capital in university education. The modern university is a dynamic category, aimed at training competent mobile specialists ready to continuous self-education, self-improvement and self-development. New educational environment determines unified laws in management of industrial enterprises, businesses, and educational institutions. Modern university educational process implies certain freedom of students and teachers in selection of training methods, forms of monitoring and evaluation of competencies, as well as the choice of tasks for independent work, enhancing the development of students’ competencies, which are formed individually. This creates difficulty in assessing the formation of competences, which can be made based on the results of the rating, examinations and results of online exams on the studied discipline, as well as by forming a portfolio that reflects the qualitative aspect of the assessment of a student’s progress.

  8. Global human capital: integrating education and population.

    Science.gov (United States)

    Lutz, Wolfgang; KC, Samir

    2011-07-29

    Almost universally, women with higher levels of education have fewer children. Better education is associated with lower mortality, better health, and different migration patterns. Hence, the global population outlook depends greatly on further progress in education, particularly of young women. By 2050, the highest and lowest education scenarios--assuming identical education-specific fertility rates--result in world population sizes of 8.9 and 10.0 billion, respectively. Better education also matters for human development, including health, economic growth, and democracy. Existing methods of multi-state demography can quantitatively integrate education into standard demographic analysis, thus adding the "quality" dimension.

  9. Human Capital and Romania’s Perspective in the EU

    Directory of Open Access Journals (Sweden)

    Mihai CHIRILĂ

    2009-01-01

    Full Text Available The source of improving people life standard depends, alongsideother factors, on efforts oriented towards education, research, andknowledge enrichment. It is also related to development and disseminationof high performance technology, with knowledge development, skills andabilities, professional training able to realize, disseminate, and useinnovation. However, these investments in human capital will lead to goodresults by extending the active life of skilled workers, by improving thegeneral health status of the population, by preserving the environment, byimproving food products quality. All these are the more valid for Romania’seconomy, the more it needs to be integrated in the Western European area,which is a highly competitive area. Or, relative sub-investment inautochthonous human capital might force our country to developcomparative advantages in border fields from the point of view ofproductivity, to specialize in fields that intensively use raw materials, to turninto a low paid labour market.

  10. Human Capital Management Plan Fiscal Years 2003- 2010

    Energy Technology Data Exchange (ETDEWEB)

    None

    2000-03-09

    Western, like many other Federal agencies, will face significant and challenging human capital issues in the next decade. The Federal workforce is aging; baby boomers, with their valuable skills and experience, are drawing nearer to retirement and new employees joining the Federal workforce today have different career expectations from the generation that preceded them. The average age of Western’s workforce is approaching 48. Almost a third of the workforce is between 50 and 54 years and most will be eligible to retire in five years. Western has almost twice as many employees who are 55 and older as it has who are 35 and younger. As the workforce ages, the proportion of younger workers is shrinking. The U.S. Census Bureau says you can expect these developments for the next 20 years. The 45 to 65 year-old work group will grow by 54 percent but the 18 to 44 population will rise by only 4 percent. According to the Bureau of Labor Statistics workers age 25 to 44 will decline by 3 million, dropping from 51 percent of the labor force in 1998 to 44 percent in 2008. Western employees who will retire include highly skilled workers in fields such as information technology, engineering, and craft occupations. Deregulation of the electric utility industry and the establishment of regional transmission organizations and independent system operators are also demanding new and different skill mixes than those currently available in Western. Changes in workforce demographic, in the education and skills that will be required in the future, and an increasingly competitive job market, will require flexible and responsive human capital tools to attract and retain talented employees. These trends were the reason for a comprehensive review of Western’s human capital programs to determine its readiness for the future. In July 2001, a team of managers conducted a comprehensive assessment of Western’s human capital needs. The team used the assessment to draft a framework that

  11. Looking for non-linear relation evidences between Brazilian gross domestic product (GDP) and fixed capital stock (K)

    Science.gov (United States)

    Kamimura, A.; Guerra, S. M. G.; Sauer, I. L.

    2004-02-01

    This paper deals with the epistemologic problem of searching for experimental evidences of a particular economic model theory. The difficulties of such tasks are well-known due to the peculiarities of the economic system, mainly related to the non-repetitiousness of experiments. Thus, indirect evidence and other related parameter correlations must be looked for. In the present case, a Brazilian macroeconomic historical data set is analysed and some particular phenomena relating correlation between gross domestic production (GDP), fixed capital stock and electricity consumption (EC) and their respectives elasticities are presented. Developed countries, in general, present different behaviour of these variables, compared to emerging economies, not only from the point of view of absolute value aspect, but also from the point of view internal dynamic interaction process. The celebrated correlation between EC and GDP, easily verified in the data of developed countries, becomes actually a myth for the emerging countries. However, this “bad” result could be an evidence of a model proposed by the authors.

  12. Surveying the relationship between financial performance, free cash flow, capital structure as well as related or unrelated diversification in Tehran Stock Exchange

    OpenAIRE

    NEMATİ, Zahra; NONAHAL NAHR, Ali Akbar

    2015-01-01

    Abstract. This study, investigate the relationship between financial performances, free cash flow, capital structure and related and unrelated diversification. Test research hypotheses on 90 companies listed in Tehran Stock Exchange during the period 1386 to 1391 using the panel data show that diversification on firm performance by the index Q Tobin measure is effective and positive relationship between these two variables is significant and there are so related and unrelated diversification ...

  13. Typhoid Fever, Water Quality, and Human Capital Formation

    OpenAIRE

    Brian Beach; Joseph Ferrie; Martin Saavedra; Werner Troesken

    2014-01-01

    Investment in water purification technologies led to large mortality declines by helping eradicate typhoid fever and other waterborne diseases. This paper seeks to understand how these technologies affected human capital formation. We use typhoid fatality rates during early life as a proxy for water quality. To carry out the analysis, city-level data are merged with a unique dataset linking individuals between the 1900 and 1940 censuses. Parametric and semi-parametric estimates suggest that e...

  14. Income Shocks, Consumption, Wealth, and Human Capital: Evidence from Russia

    OpenAIRE

    Mu, Ren

    2006-01-01

    Using the Russia Longitudinal Monitoring Survey, this article investigates how Russian households' consumption responds to income shocks and, in particular, how household wealth and human capital affect the households' ability to smooth consumption. An instrumental variable estimation method with household fixed effects is implemented. After correcting for potential problems of sample attrition using the inverse probability weighting method, the article finds that household consumption in Rus...

  15. Population growth and human capital: a welfarist approach

    OpenAIRE

    Thomas Renstrom; Luca Spataro

    2014-01-01

    In this paper we investigate the relationship between economic and population growth in an endogenous growth model driven by human capital accumulation à la Lucas (1988). Since we allow for endogenous population growth, we adopt the population criterion Relative Critical Level Utilitarianism (an extension of Critical Level Utilitarianism, Blackorby et al. 1995) which allows axiomatically founded welfare orderings under variable population. Under this extension the Critical Level Utility is de...

  16. Network effects in a human capital based economic growth model

    Science.gov (United States)

    Vaz Martins, Teresa; Araújo, Tanya; Augusta Santos, Maria; St Aubyn, Miguel

    2009-06-01

    We revisit a recently introduced agent model [ACS, 11, 99 (2008)], where economic growth is a consequence of education (human capital formation) and innovation, and investigate the influence of the agents’ social network, both on an agent’s decision to pursue education and on the output of new ideas. Regular and random networks are considered. The results are compared with the predictions of a mean field (representative agent) model.

  17. Big Data and Intelligence: Applications, Human Capital, and Education

    OpenAIRE

    Michael Landon-Murray

    2016-01-01

    The potential for big data to contribute to the US intelligence mission goes beyond bulk collection, social media and counterterrorism. Applications will speak to a range of issues of major concern to intelligence agencies, from military operations to climate change to cyber security. There are challenges too: procurement lags, data stovepiping, separating signal from noise, sources and methods, a range of normative issues, and central to managing these challenges, human capital. These potent...

  18. Health, Human Capital, and Behavior Change: Essays in Development Microeconomics

    OpenAIRE

    Kirk, Angeli Elise

    2016-01-01

    This dissertation combines three empirical studies of household behaviors as they relate to investment in health and human capital in developing countries. The first explores how changes in children's nutrition in Uganda correspond to composition of a household's income. The second studies measurement activities in a cookstove intervention in Darfur, Sudan, with insights into what may be missed in traditional evaluation approaches as well as how technology adoption may benefit from an uninten...

  19. Education as an Investment in Turkey’s Human Capital: A Work in Progress

    Directory of Open Access Journals (Sweden)

    William A. OWINGS

    2012-11-01

    Full Text Available As a nation, Turkey sees education as an essential component in building its economy to world class levels. Yet school equity and teacher quality issues are preventing Turkey from fully developing its human capital. Authors discuss the concept of education as an investment in human capital, Turkey’s human capital challenges, equity practices which undermine the widespread development of Turkey’s human capital, how improving teacher quality could help remedy the situation, and recommendations to strengthen Turkey’s education as an investment in human capital.

  20. Human capital flight challenges within an equitable health system.

    Science.gov (United States)

    Udonwa, N E

    2007-01-01

    The issue of human capital flight has been discussed at different forums with a consensus opinion that it has its merits and demerits to equitable health system. Most often one nation becomes a substantial net exporter of talent, leaving the provider nation at risk of depleting its natural supply of talent. This paper looks into the historical perspective of human capital flight or "brain drain", and its burden. It attempts to elucidate the various causes and suggested solutions. The paper's objective is to educate colleagues on the conceptual and contextual imperatives of the issue. Using a convenient sample of key informants who were medical colleagues in Nigeria relevant information was sourced from these colleagues, documents from the postgraduate medical college of Nigeria and the internet on maters relating to human capital flight and brain drain. Every year, thousands of qualified doctors, and other professionals leave Nigeria tempted by significantly higher wages, brighter prospects for employment and education, stability, food security. It appears that the potential exposure to different working conditions, resources and professional environments can be of advantage to the country, should Nigeria be able to recall these professionals. It also appears that necessary economic reforms that make staying at home rewarding, that is--good leadership, and policy planning that seriously looks into rural development, among other issues, are keys ingredients to reversing the trend in order to ensure a more equitable health system.

  1. The Ways of Advanced Human Capital: Discussions from Experiences

    Directory of Open Access Journals (Sweden)

    Rayén Amanda Rovira Rubio

    2015-11-01

    Full Text Available The present research aimed to know the significance of academic training experienced by postgraduate students who are pursuing their studies abroad under the context of a Training Program for Advanced Human Capital promoted by the Government of Chile. A feminist epistemology of situated knowledge was used as methodological framework, and narrative productions were used as technique of data collection. With this approach, the experiences of seven graduate students in Spanish universities, mostly of them beneficiaries of scholarships from Chile, were analyzed. The main findings were: the positive assessment of the experience of studying abroad, the divergent testimonies about these experiences, which based on previous educational trajectories and the socioeconomic level of the professional. These aspects influenced the identifications with the concept of Advanced Human Capital for Chile. Also, for some participants, the Advanced Human Capital is seen as an imposed concept which does not coincide with the real opportunities for the professional practice in the country. Therefore, the participants are sceptical about the possibilities of adequate job insertion in the return to Chile.

  2. Human Capital information: generating intangibles and social responsibility

    Directory of Open Access Journals (Sweden)

    Francisca Tejedo Romero

    2016-01-01

    Full Text Available Intangible resources have become the most important in the process of generating business' wealth in a sustainable way, namely the Human Capital. However, the success and survival of the companies is subject to the approval of its stakeholders. This means that companies take steps to ensure that their actions are perceived as legitimate, and one way is by providing voluntary information. Therefore, under the framework of the Theory of Legitimacy and Stakeholders, our goal is to analyze how Spanish companies are voluntarily reporting on its Human Capital in annual reports, information about the generation of intangibles (knowledge and social responsibility. Thus, using the methodology of content analysis, the empirical evidence shows that companies are reporting relatively little information on topics related to Human Capital being the topics related to training and development of employees the most disclosure. However, with regard to social responsibility, there is a rising trend to provide information concerning the policy of equality and diversity, risk prevention and the relationship between employers and employees.

  3. Effects of Capital Structure and Profitability on Corporate Value with Company Size as the Moderating Variable of Manufacturing Companies Listed on Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Ela Mahdaleta

    2016-09-01

    Full Text Available This study aims to determine the effect of capital structure and profitability on the corporate value by company size as the moderating variable on manufacturing companies listed on Indonesia Stock Exchange from 2012 to 2014. Variables used in this research are the Capital Structure and Profitability as independent variables, company size as moderating variable and corporate value as the dependent variable. The corporate value in this study was measured using price to book value. This study was performed on manufacturing companies listed on the Indonesia Stock Exchange. This study was conducted on 46 companies that meet the sampling criteria of 135 companies listed on the Indonesia Stock Exchange. The research data were secondary data from the financial statements of 46 companies published in the Indonesia Stock Exchange. The data processing method in this study used multiple linear regression tests and moderating test using residual test by testing classical assumption test beforehand. The results show independent variables have simultaneous significant influence on the corporate value. Meanwhile, partially, Debt to equity ratio has significant negative effect on corporate value, and Return on assets has significant positive effect on corporate value. The moderating test result shows that company size is unable to partially moderate the relationship of debt to equity ratio on the corporate value, and unable to partially moderate the relationship of return on assets on the corporate value.

  4. Sabotaging the benefits of our own human capital: Work unit characteristics and sleep.

    Science.gov (United States)

    Barnes, Christopher M; Jiang, Kaifeng; Lepak, David P

    2016-02-01

    The strategic human capital literature indicates the importance of human capital to work unit performance. However, we argue that human capital only aids performance when it is translated into actions beneficial to the unit. We examine a set of common human capital leveraging characteristics (including the use of extended shifts, night shifts, shift flexibility, norms for work as a priority over sleep, and norms for constant connectivity) as factors that enhance the effect of human capital on human capital utilization. We also draw from the 2-process model of sleep regulation to examine how these characteristics undermine employee sleep, and thus weaken the link between human capital and work unit performance efficiency. Overall, we propose that human capital leveraging strategies initially enhance the effect of human capital on work unit performance, but over time weaken the effect of human capital on work unit performance efficiency. Thus, strategies intended to enhance the beneficial effect of human capital on work unit performance can end up doing the opposite.

  5. Human capital in the nursing management of hospitals.

    Science.gov (United States)

    Cordeiro, Ana Lúcia Arcanjo Oliveira; Fernandes, Josicélia Dumêt; Mauricio, Maria Deolinda Antunes Luz Lopes Dias; Silva, Rosana Maria de Oliveira; Barros, Claudia Silva Marinho Antunes de; Romano, Cátia Maria Costa

    2017-08-17

    To analyze how the components of human capital are used in the nursing management of hospital organizations. This was an exploratory and qualitative study. Data collection took place between October 2014 and May 2015 using semi-structured interviews. The data were analyzed according to content analysis. Twelve nurse managers participated. The components of human capital used by the nurses in personnel management were: during the hiring process, when requiring specialized education in the field and prior professional experience; when retaining talents with promotion strategies; in building capacities of professionals through support and training; and in collective work to construct processes and outcome assessment. The components of human capital need to be managed strategically with a focus on professional skills and development, with the aim of transforming individual and collective knowledge into new technology. Analisar como os componentes do capital humano são utilizados na gestão de enfermeiras em organizações hospitalares. Estudo exploratório, com abordagem qualitativa. A coleta de dados ocorreu de outubro de 2014 a maio de 2015 com a utilização de entrevistas semiestruturadas. Os dados foram analisados segundo a análise de conteúdo. Participaram 12 gestoras de enfermagem. Os componentes do capital humano utilizados pelas enfermeiras na gestão de pessoas foram: no processo admissional ao utilizar como critérios para contratação a exigência de especialização na área e experiência profissional prévia; na manutenção de talentos com estratégias de promoção; na capacitação de profissionais com apoio e treinamento; e no trabalho coletivo para a construção dos processos e avaliação dos resultados. Os componentes do capital humano precisam ser gerenciados estrategicamente com foco nas competências e no desenvolvimento do profissional, visando transformar os conhecimentos individuais e coletivos em novas tecnologias.

  6. Human capital in the German urban system – Patterns of concentration and specialisation

    Directory of Open Access Journals (Sweden)

    Anna Growe

    2010-08-01

    Full Text Available In the knowledge economy human capital plays a crucial role in various economic processes and thus also in spatial development. But human capital is an economic resource that is distributed unequally in space. Some regions show a higher density of human capital than others. This paper discusses questions relating to the spatial concentration and specialisation of human capital in the German urban system. Due to an increasing interest in human capital the questions are asked, where is human capital located in the German urban system and how does the distribution change over time. The paper relates to geographical theories of concentration and specialisation. It will be shown that human capital is a heterogeneous category containing different occupational groups showing different spatial patterns. Some display increasing spatial disparities; others are fairly balanced over space.

  7. CAPITAL STRUCTURE, COST OF DEBT AND DIVIDEND PAYOUT OF FIRMS IN NEW YORK AND SHANGHAI STOCK EXCHANGES

    OpenAIRE

    Jun Jiang; Komain Jiranyakul

    2013-01-01

    The Study collects panel data of listed firms in New York Stock and Shanghai Stock Exchanges during 1992 to 2008. The data are used to perform panel regression estimates for firms in each stock market. The main purpose is to compare the decision on dividend payout of listed firms in the two stock markets. The results from fixed effect estimates show that factors that can explain dividend payout of firms in New York Stock Exchange poorly explain dividend payout of firms in Shanghai Stock Excha...

  8. THERE IS INFLUENCE IN DEVELOPMENT OF COMPANIES WHICH BUILT STOCK, WITH SUPPORT OF INVESTIMENT FUND PRIVATE EQUITY AND VENTURE CAPITAL? EVIDENCES OF ENTRANT COMPANIES AT BOVESPA

    Directory of Open Access Journals (Sweden)

    Caciano Gianechini

    2013-09-01

    Full Text Available This work seeks to identify the impact of the participation of Private Equity funds and Venture Capital (PE/VC, the performance of companies that owned the contribution prior to the opening of capital (IPO. In a more objective the present study seeks to investigate whether companies that opened capital, financed by PE/VC, have performed better than the other formerly the Brazilian stock market debut. The sample of work consists of 116 companies that made the initial public offering (IPO in the São Paulo Stock Exchange (BOVESPA in the period January 2004 to December 2009. First identified that 41 enterprises debuted at BOVESPA being financed by PE/VC funds. Furthermore, the results indicate that the influence of PE/VC funds tend to improve some indices of profitability and market of companies after the IPO. In summary, the evidence found lead to the conclusion that the organizations of private equity and venture capital influence positively the performance of investee companies.

  9. Value Proposition and Human Capital: strategic marketing practices

    OpenAIRE

    Scharf, Edson Roberto, 1965-

    2012-01-01

    One of the marketing practices adopted by organizations to be more efficient in face of the excess of advertising is the value proposition to consumers. The adoption of human capital is one of the options. To such end, the aim of this study was to confirm the use of the ‘human capital’ construct in both the conceptualization and development of the value proposition stages. The social group was comprised of marketing executives working for companies regarded as the best companies to work for. ...

  10. Measurement of Highway Capital Stock in China:1952-2009%中国公路资本存量测算(1952-2009)

    Institute of Scientific and Technical Information of China (English)

    董静; 岑晏青

    2011-01-01

    资本存量数据是进行宏观经济分析的核心变量之一,同时也是资产负债核算的重要内容. 目前,经济学界对我国资本存量估算的研究工作已有不少积累,但并没有对公路进行过单独研究和测算. 1998年以来的大规模公路建设投资形成了庞大的公共基础设施,为我国社会经济奠定了重要的发展基础,因此,无论是立足于全社会还是交通行业自身,都很有必要采用资本存量的概念对我国公路资产进行准确度量. 本文基于国际通用的永续盘存法(PIM)探讨公路资本存量测算的若干技术问题,首次采用分解加权法计算了我国的公路资产折旧率,并对1952-2009年我国公路资本存量进行了系统测算. 不仅在数据上为相关分析提供支撑,同时在方法上可为其他单项资产的资本存量测算提供借鉴.%Capital stock is one of the key indices for macroeconomic analysis and always is measured within the national wealth accounts. Although economists have gathered some experiences in the field of capital stock measurements, no one measures highway capital stock as an independent asset. Since 1998, large investments have formed into a huge public asset of the extensive highway system, and it contributed much to the economic development in China. Therefore, it is very necessary to measure the scale of highway system using this useful index. This study investigates several technical problems on measurement of highway capital stock based on the perpetual inventory method ( PIM ), adopts the disaggregated and weighted method to calculate the depreciation rate, and then measures the highway capital stock in China from 1952 to 2009. The findings and results may provide useful data to relevant research, and the proposed method can also be used for other fixed assets.

  11. Human Capital Accounting Dynamics:Empirical Evidence from Provincial Inventory in Mainland China%教育人力资本收支平衡性分析

    Institute of Scientific and Technical Information of China (English)

    黄维海; 袁连生

    2014-01-01

    Human capital stock accounting failed to produce local equilibrium in some provinces due to many variables influencing inflow and outflow. The paper estimates annual human capital stocks measured by educational attainment in both gross and per capita approaches. The deviation between actual account and perpetual inventory account of human capital stock, the gross and average years of schooling of the labor force in each province were taken into account. The authors provided convincing evidence that between-province migration affected human capital accumulation, the flow of which had significant effects, the host provinces of quality migrants would enjoy human capital bonus with a surplus, while home provinces would suffer brain drains with a deficit.%受各种因素影响,作为人力资本主要形式的教育收支出现局部不平衡。通过建立实存账户和盘存账户,本研究一方面测算各省历年的教育人力资本存量和流量,另一方面对比教育人力资本的总量、均值和劳动人口数量在两个账户之间的差异,分析各省账户收支的平衡性。研究发现,教育人力资本收支不平衡的省份几乎都是人口流动的频发地区,实证结果也证实了人口流动会对教育人力资本账户收支的平衡性产生显著影响,教育人力资本总量和均值与人口流动之间显著正相关。

  12. Employee Stock Purchase Plans

    National Research Council Canada - National Science Library

    Gary V. Engelhardt; Brigitte C. Madrian

    2004-01-01

    Employee stock purchase plans (ESPPs) are designed to promote employee stock ownership broadly within the firm and provide another tax-deferred vehicle for individual capital accumulation in addition to traditional pensions, 401(k...

  13. Overview of Researches on Social Capital,Human Capital and Social Integration of New Generation Migrant Workers

    Institute of Scientific and Technical Information of China (English)

    Wenjing; LUAN; Honghong; LU; Yulin; TONG; Danna; LU

    2013-01-01

    With urbanization and socio-economic development,new generation migrant workers play an increasingly important role in urban construction. However,for a long time,their social integration situation in inflow places is not ideal. Academic circle has done a lot of researches,but no effective strategy is so far put forward. Through analysis of domestic and foreign researches,it is found that social capital and human capital have an important influence on social integration of new generation migrant workers. This paper takes this as starting point,combines characteristics of new generation migrant workers,and overviews theories and empirical researches of domestic and foreign famous scholars,to explore the relationship between social capital and human capital and social integration of new generation migrant workers.

  14. [The development of public health strategy with the purpose to develop human capital].

    Science.gov (United States)

    Babenko, A I; Bravve, Iu I; Tomchuk, A L; Babenko, E A

    2012-01-01

    The article substantiates the necessity to develop public health strategy considering the processes of demographic, social, economic progression of society. The core issue in these conditions is human capital and its component--health capital as an integral reflection of different characteristics of population. The definitions of these notions in a social hygienic aspect are presented. The main stages of development of the health strategy such as formation of strategic planning elements, human capital valuation, population health and health capital losses, evaluation of potential demand in medical technologies, medical organizational measures implementation and their input into development of human capital are considered. These positions are supported as determinants of effectiveness of health strategy.

  15. Characterizing the role of built environment stocks in human development and emission growth

    DEFF Research Database (Denmark)

    Lin, Chen; Liu, Gang; Müller, Daniel B.

    2017-01-01

    The built environment stocks such as buildings and infrastructures are key to human development: they provide the fundamental physical settings that the provision of basic human needs such as food, shelter, and transport rely on, but also contribute to anthropogenic greenhouse gas (GHG) emissions...... throughout their construction, operation, and end-of-life management phases. These stocks usually exist in societies for relatively long time, from years to over a century, therefore their dynamics have long term impacts on human development and emission growth. Several recent studies, including the Fifth...... underline the role of built environment stocks in human development, future emission pathways, and relevant climate policy....

  16. Research on the Relationship between Little Village Official’s Career Choice and Human Capital,Social Capital

    Institute of Scientific and Technical Information of China (English)

    Guili; ZHONG

    2015-01-01

    The career planning plays an important role in little village official’s development. The study uses stata SE12 statistical software based on the sample survey of little village official in China. And it studies the relationships of human capital,social capital and career planning of little village official. It shows that:( i) After the village work,to be civil servant is the preferred way for little village official,and the female and unmarried choosing this are more than others. The probability of taking the civil service exam diminishes with age,but increases with the increasing human capital and social capital.( ii) Working in institution is the second choice of little village official. The female,married and older have greater proportion than the others. The trend is diminishing with increased human capital and social capital.( iii) The male,married,older,or little village officials employed by provincial government or working in the central and western regions of China choosing to be selected as township deputies are more than others.( iv) The married and older would like to remain in office,but this probability diminishes with the increased human capital and social capital.( v) The male,older,or the little village official working in the central region,employed by municipal government and employed by county government would like to start up their own businesses.( vi) Few of them choose their jobs by themselves,continue further education,or choose enterprise work and social work. There are more little village officials graduating from " 985 project" or " 211 project" universities choosing to work in enterprises.

  17. Ecological Footprints and Appropriated Carrying Capacity: Measuring the Natural Capital Requirements of the Human Economy.

    Science.gov (United States)

    Ress, William E.; Wackernagel, Mathis

    1996-01-01

    Contrasts conventional economic rationality with economic principles. Develops an empirical approach based on a reinterpretation of carrying capacity that can account for technological advances and trade. Discusses the necessity of diverting much of the present consumption to investment in the maintenance of natural capital stocks. (AIM)

  18. Measurement and analysis of the efficiency of human capital in a small enterprises in Poland

    Directory of Open Access Journals (Sweden)

    Anna Bagieńska

    2015-10-01

    Full Text Available Human capital plays an important role in the development of every company. Big enterprises have a Human Resources Department which conducts analyses and measurements of human capital. In Poland over 90% of the total number of companies is made up of small and middle- size enterprises. The aim of the research is to determine reasons why small Polish companies take an interest in the measurement and analysis of human capital as well as to discover the causes of their limited use of human capital measurement. The results confirmed that limited measurement and analysis of human capital efficiency in small companies results from the lack of additional information; apart from this it results from the binding legal regulations as well as the lack of employees who possess the knowledge necessary for conducting such analyses. Despite barriers and difficulties in human capital measurement, small companies appreciate employees and their qualification, not treating them only as a necessary cost of their doing business.

  19. Neoliberalism, Human Capital and the Skills Agenda in Higher Education--The Irish Case

    Science.gov (United States)

    Holborow, Marnie

    2012-01-01

    The making of human capital is increasingly seen as a principal function of higher education. A keyword in neoliberal ideology, human capital represents a subtle masking of social conflict and expresses metaphorically the commodification of human abilities and an alienating notion of human potential, both of which sit ill with the goals of…

  20. Neoliberalism, Human Capital and the Skills Agenda in Higher Education--The Irish Case

    Science.gov (United States)

    Holborow, Marnie

    2012-01-01

    The making of human capital is increasingly seen as a principal function of higher education. A keyword in neoliberal ideology, human capital represents a subtle masking of social conflict and expresses metaphorically the commodification of human abilities and an alienating notion of human potential, both of which sit ill with the goals of…

  1. HUMAN CAPITAL THEORY AND HUMAN RESOURCE MANAGEMENT. IMPLICATIONS IN DEVELEOPMENT OF KNOWLEDGE MANAGEMENT STRATEGIES

    Directory of Open Access Journals (Sweden)

    Simona Buta

    2015-02-01

    Full Text Available In terms of the organization, the human capital theory and human resource management raises a number of issues, namely: human capital issues (they relate to attracting, maintaining, developing and rewarding human resources in order to create and maintain a skilled, dedicated and motivated personnel; issues related to the structural capital (with reference to the size and development of organizational structures that stimulate the processes of creating, capturing and sizing of knowledge; issues of organizational capital( those related to knowledge management. Therefore, organizational context, several questions arise: What knowledge do we have? What knowledge do we need now and in the future? How can we create an environment and a culture that encourages individual and organizational learning? How can we do so that both explicit and tacit knowledge to be captured stored and used judiciously? This paper focuses on human capital theory, but there will also be raised concepts associated to the human resources and knowledge management. Therefore, in this paper we try to identify ways in which human resources (HR specialists can support the KM strategy to drive value within organisation, by revising the practices in order to ensure the knowledge focus.

  2. What Is the Relationship between Human and Social Capital: What Transfers to Whom?

    Science.gov (United States)

    Roberts, Kate; Lacey, Justine

    2008-01-01

    The concepts of human capital and social capital have come to be widely used across government policy and academia in relation to their perceived roles in community engagement and social well being. However in understanding the nature of these two distinct forms of capital there seems to be a pervasive notion that by simply increasing the stocks…

  3. The Role of Human Resource Capital of Black and Latino Middle Schoolers' Mathematics Identities

    Science.gov (United States)

    Keck-Staley, Tracey Lavette

    2010-01-01

    Student learning in the mathematics classroom is described as being both social and personal. Students' prior knowledge (human capital), attitudes (personal capital), and social skills and/or cultural values (sociocultural capital) are personal components they bring into the classroom. The purpose of this instrumental case study was to explore (a)…

  4. The Role of Human Resource Capital of Black and Latino Middle Schoolers' Mathematics Identities

    Science.gov (United States)

    Keck-Staley, Tracey Lavette

    2010-01-01

    Student learning in the mathematics classroom is described as being both social and personal. Students' prior knowledge (human capital), attitudes (personal capital), and social skills and/or cultural values (sociocultural capital) are personal components they bring into the classroom. The purpose of this instrumental case study was to explore (a)…

  5. Bringing human, social, and natural capital to life: practical consequences and opportunities.

    Science.gov (United States)

    Fisher, William P

    2011-01-01

    Capital is defined mathematically as the abstract meaning brought to life in the two phases of the development of "transferable representations," which are the legal, financial, and scientific instruments we take for granted in almost every aspect of our daily routines. The first, conceptual and gestational, and the second, parturitional and maturational, phases in the creation and development of capital are contrasted. Human, social, and natural forms of capital should be brought to life with at least the same amounts of energy and efficiency as have been invested in manufactured and liquid capital, and property. A mathematical law of living capital is stated. Two examples of well-measured human capital are offered. The paper concludes with suggestions for the ways that future research might best capitalize on the mathematical definition of capital.

  6. Entrepreneurial Choices of Initial Human Capital Endowments and New Venture Success

    DEFF Research Database (Denmark)

    Rocha, Vera; Van Praag, Mirjam; B. Folta, Timothy;

    The founder (team)'s human capital is a vital determinant of future firm performance. This is a stylized fact. Less is known about the effect of the human capital of the initial workforce hired by the founder(s). We study the performance consequences of a founder's choice of the initial workforce......'s human capital (quantity and quality), besides the human capital of the founder(s). The analysis is based on matched employer-employee data and covers about 5,300 startups in manufacturing industries founded by individuals coming from employment between 1992 and 2007. We acknowledge that initial hiring...... decisions are endogenous and correlated with the human capital of the founders and the ownership structure of startups (single founder versus team of founders). Given the stickiness of initial choices, human capital decisions at entry turn out to be a close to irreversible matter with significant...

  7. Entrepreneurial Choices of Initial Human Capital Endowments and New Venture Success

    DEFF Research Database (Denmark)

    Rocha, Vera; Van Praag, Mirjam; B. Folta, Timothy

    The founder (team)'s human capital is a vital determinant of future firm performance. This is a stylized fact. Less is known about the effect of the human capital of the initial workforce hired by the founder(s). We study the performance consequences of a founder's choice of the initial workforce......'s human capital (quantity and quality), besides the human capital of the founder(s). The analysis is based on matched employer-employee data and covers about 5,300 startups in manufacturing industries founded by individuals coming from employment between 1992 and 2007. We acknowledge that initial hiring...... decisions are endogenous and correlated with the human capital of the founders and the ownership structure of startups (single founder versus team of founders). Given the stickiness of initial choices, human capital decisions at entry turn out to be a close to irreversible matter with significant...

  8. An Empirical Study of Economic Growth,Human Capital and Financial Development in Qingdao City

    Institute of Scientific and Technical Information of China (English)

    Liping; KE

    2015-01-01

    Human capital and finance can boost economic growth,and this paper performs an empirical test of economic growth,human capital and financial level,and finds that there is a long-term stable dynamic equilibrium relationship between the three.Results show that the finance and human capital in Qingdao City go through six stages( " imbalance-on the verge of imbalance-narrow coordination-primary coordination-intermediate coordination-well coordination"),and during the coordination process,human capital significantly lags behind.Therefore,it is necessary to increase human capital,accelerate the coordination between finance and human capital,and further promote the development of economic level.

  9. Population Growth, Human Capital Expenditures and Economic Growth: A Macroeconometric Analysis

    OpenAIRE

    Aniceto C. Orbeta Jr

    1992-01-01

    The paper presents an econometrically estimated model where economic and demographic variables are determined simultaneously. It is used to quantify the importance of human capital expenditures in socioeconomic and demographic development as well as analyze the effects of rapid population growth on human capital expenditures. The simulation results indicate that human capital expenditures are important determinants of economic development, have appreciable negative effects on both fertility a...

  10. Limited Life Expectancy, Human Capital and Health Investments: Evidence from Huntington Disease

    OpenAIRE

    Emily Oster; Ira Shoulson; Ray Dorsey, E.

    2012-01-01

    One of the most basic predictions of human capital theory is that life expectancy should impact human capital investment. Limited exogenous variation in life expectancy makes this difficult to test, especially in the contexts most relevant to the macroeconomic applications. We estimate the relationship between life expectancy and human capital investments using genetic variation in life expectancy driven by Huntington disease (HD), an inherited degenerative neurological disorder with large im...

  11. Human capital accumulation and migration in a peripheral EU region : the case of Basilicata

    OpenAIRE

    Coniglio, Nicola D.; Prota, Francesco

    2003-01-01

    The importance of human capital as a key source of value added, innovation and economic growth is widely acknowledged by both economists and policy-makers. Local governments can directly affect individuals’ decision making by subsidising human capital formation. The ability of a regional system to generate human capital is crucial but it is not a sufficient condition leading to economic success. In this work we emphasise the importance of maintaining and attracting high-skilled individuals, a...

  12. Unmanned Aerial Systems: Air Force and Army Should Improve Strategic Human Capital Planning for Pilot Workforces

    Science.gov (United States)

    2017-01-01

    UNMANNED AERIAL SYSTEMS Air Force and Army Should Improve Strategic Human Capital Planning for Pilot Workforces...Should Improve Strategic Human Capital Planning for Pilot Workforces What GAO Found The Air Force and the Army have not fully applied four of the five...key principles for effective strategic human capital planning for managing pilots of unmanned aerial systems (UAS) that are important for resolving

  13. A Case Study On Human Capital Mismanagement In The United States Air Force

    Science.gov (United States)

    2016-05-08

    AIR COMMAND AND STAFF COLLEGE AIR UNIVERSITY A Case Study on Human Capital Mismanagement in the United States Air Force By John P...Force does not effectively manage its human capital to develop and retain a technically literate acquisitions workforce. A detailed look at the...Several solutions are suggested to improve the human capital management and increase the quality and relevancy of the acquisitions community at

  14. The impact of human capital on urban poverty: The case of Sargodha city

    OpenAIRE

    2011-01-01

    The positive relationship between human capital and income/wages has been supported by empirical research. Millennium Development Goals (MDGs) and the Poverty Reduction Strategy Paper (PRSP) enormously emphasize on human capital for curbing poverty. The economic development in East Asian countries is also linked with investment in education for the development of human capital. This study is designed to investigate the relationship of different levels of education and experience upon urban p...

  15. Limited Life Expectancy, Human Capital and Health Investments: Evidence from Huntington Disease

    OpenAIRE

    Emily Oster; Ira Shoulson; Ray Dorsey, E

    2012-01-01

    One of the most basic predictions of human capital theory is that life expectancy should impact human capital investment. Limited exogenous variation in life expectancy makes this difficult to test, especially in the contexts most relevant to the macroeconomic applications. We estimate the relationship between life expectancy and human capital investments using genetic variation in life expectancy driven by Huntington disease (HD), an inherited degenerative neurological disorder with large im...

  16. Foreign Direct Investments and Human Capital Development in Subsaharan Africa

    Directory of Open Access Journals (Sweden)

    Luc NEMBOT NDEFFO

    2010-12-01

    Full Text Available The objective of the present study is to estimate the impact of foreign direct investments on human capital development in 32 Subsaharan African countries over the period 1980 – 2005. Human capital is captured by the percentage of children in full-time education in primary and secondary schools. Panel data regressions are used for the estimations. The results show a correlation not only between FDI and the percentage of children in full-time education in primary school but also between the FDI and the percentage of children in full-time education in secondary school. These results are not significant for that. This shows that FDI directed towards Sub-Saharan Africa still remain insufficient. That is why a lot of effort should be made in order to favour the attraction of FDI in this part of the continent. The other variables which have a positive and significant impact on the percentage of children in full-time education are: the domestic investment rate, public sector expenditures, life expectancy at birth and the growth rate of the gross domestic product per capita.

  17. Credit scores, cardiovascular disease risk, and human capital.

    Science.gov (United States)

    Israel, Salomon; Caspi, Avshalom; Belsky, Daniel W; Harrington, HonaLee; Hogan, Sean; Houts, Renate; Ramrakha, Sandhya; Sanders, Seth; Poulton, Richie; Moffitt, Terrie E

    2014-12-02

    Credit scores are the most widely used instruments to assess whether or not a person is a financial risk. Credit scoring has been so successful that it has expanded beyond lending and into our everyday lives, even to inform how insurers evaluate our health. The pervasive application of credit scoring has outpaced knowledge about why credit scores are such useful indicators of individual behavior. Here we test if the same factors that lead to poor credit scores also lead to poor health. Following the Dunedin (New Zealand) Longitudinal Study cohort of 1,037 study members, we examined the association between credit scores and cardiovascular disease risk and the underlying factors that account for this association. We find that credit scores are negatively correlated with cardiovascular disease risk. Variation in household income was not sufficient to account for this association. Rather, individual differences in human capital factors—educational attainment, cognitive ability, and self-control—predicted both credit scores and cardiovascular disease risk and accounted for ∼45% of the correlation between credit scores and cardiovascular disease risk. Tracing human capital factors back to their childhood antecedents revealed that the characteristic attitudes, behaviors, and competencies children develop in their first decade of life account for a significant portion (∼22%) of the link between credit scores and cardiovascular disease risk at midlife. We discuss the implications of these findings for policy debates about data privacy, financial literacy, and early childhood interventions.

  18. The nutrition intervention improved adult human capital and economic productivity.

    Science.gov (United States)

    Martorell, Reynaldo; Melgar, Paul; Maluccio, John A; Stein, Aryeh D; Rivera, Juan A

    2010-02-01

    This article reviews key findings about the long-term impact of a nutrition intervention carried out by the Institute of Nutrition of Central America and Panama from 1969 to 1977. Results from follow-up studies in 1988-89 and 2002-04 show substantial impact on adult human capital and economic productivity. The 1988-89 study showed that adult body size and work capacity increased for those provided improved nutrition through age 3 y, whereas the 2002-04 follow-up showed that schooling was increased for women and reading comprehension and intelligence increased in both men and women. Participants were 26-42 y of age at the time of the 2002-04 follow-up, facilitating the assessment of economic productivity. Wages of men increased by 46% in those provided with improved nutrition through age 2 y. Findings for cardiovascular disease risk factors were heterogeneous; however, they suggest that improved nutrition in early life is unlikely to increase cardiovascular disease risk later in life and may indeed lower risk. In conclusion, the substantial improvement in adult human capital and economic productivity resulting from the nutrition intervention provides a powerful argument for promoting improvements in nutrition in pregnant women and young children.

  19. Credit scores, cardiovascular disease risk, and human capital

    Science.gov (United States)

    Israel, Salomon; Caspi, Avshalom; Belsky, Daniel W.; Harrington, HonaLee; Hogan, Sean; Houts, Renate; Ramrakha, Sandhya; Sanders, Seth; Poulton, Richie; Moffitt, Terrie E.

    2014-01-01

    Credit scores are the most widely used instruments to assess whether or not a person is a financial risk. Credit scoring has been so successful that it has expanded beyond lending and into our everyday lives, even to inform how insurers evaluate our health. The pervasive application of credit scoring has outpaced knowledge about why credit scores are such useful indicators of individual behavior. Here we test if the same factors that lead to poor credit scores also lead to poor health. Following the Dunedin (New Zealand) Longitudinal Study cohort of 1,037 study members, we examined the association between credit scores and cardiovascular disease risk and the underlying factors that account for this association. We find that credit scores are negatively correlated with cardiovascular disease risk. Variation in household income was not sufficient to account for this association. Rather, individual differences in human capital factors—educational attainment, cognitive ability, and self-control—predicted both credit scores and cardiovascular disease risk and accounted for ∼45% of the correlation between credit scores and cardiovascular disease risk. Tracing human capital factors back to their childhood antecedents revealed that the characteristic attitudes, behaviors, and competencies children develop in their first decade of life account for a significant portion (∼22%) of the link between credit scores and cardiovascular disease risk at midlife. We discuss the implications of these findings for policy debates about data privacy, financial literacy, and early childhood interventions. PMID:25404329

  20. TESTING THE WEAK-FORM EFFICIENCY OF THE ROMANIAN CAPITAL MARKET BY ASSESSING THE RANDOM WALK-LIKE BEHAVIOUR OF STOCK PRICES

    Directory of Open Access Journals (Sweden)

    PAŞCA LUCIAN

    2015-04-01

    Full Text Available This paper attempts to test the efficiency of the Romanian Capital Market by assessing some basic statistical properties of prices for the ten most liquid stocks listed on the Bucharest Stock Exchange. More specifically, by testing if stock price series exhibit a random walk-like behaviour. For robustness of the results, two unit root tests—the Augmented Dickey-Fuller and the Kwiatkowski-Phillips-Schmidt-Shin—are used to measure stationarity for both prices and returns, and determine if price dynamics is determined by an order one integrated process (a proxy for the random walk. Further Lo and MacKinley‘s Variance Ratio Test is applied to study if the variance of returns is a linear time-dependent function (a well-known property of a random variable. The analysis is done for a period between 15 October 1997, or the listing date on the stock exchange, respectively, and 10 April 2013, for both daily and weekly observations. Furthermore, to take into account the distortive effects of the financial turmoil from 2007-2009 on market efficiency, a separate analysis has been conducted for two sub-periods, pre- and post-recession, respectively.

  1. The Risk-Return Trade-Off in Human Capital Investment

    DEFF Research Database (Denmark)

    Christiansen, Charlotte; Joensen, Juanna Schrøter; Nielsen, Helena Skyt

    tests for mean-variance spanning. A risk-return trade-off is revealed, hich is not only related to the length of education but also to the type of education. We identify a range of educations that are efficient in terms of investment goods, and a range of educations that are inefficient, and may......In this paper we analyze investments in human capital assets in a way which is standard for financial assets, but not (yet) for human capital assets. We study mean-variance plots of human capital assets. We compare the properties of human capital returns using a performance measure and by sing...

  2. The human capital in the knowledge society. Theoretical and empirical approach

    Directory of Open Access Journals (Sweden)

    Elena Pelinescu

    2014-12-01

    Full Text Available We live today in a changing society based on the globalization and better valorisation of the human capital. The human capital is the central driver force for competitiveness and development of the new technology and patent and a necessary factor for their efficient use in the new society. In order to reach the competitiveness objective, the European Union member countries seek to develop their human capital value by increasing investment in education, science and technology development. Based on the panel econometrics techniques, this paper explores the statistical correlations between human capital components and national competitiveness within the EU economic context.

  3. ROLE OF HUMAN CAPITAL FORMATION IN ECONOMIC DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    TĂNASE DIANA

    2013-12-01

    Full Text Available The paper highlights the role of education in the growth of economic competitiveness and efficiency of human capital, in accordance with the quality of education and investments in human resources, in order to enhance labour productiveness. The paper starts by a brief analysis of Romania’s educational system, by comparison with the EU countries, analysing the number of high school students / college students per teacher, the percentage of education expenditure in the GDP, the correlation between the labour force’s training level and insertion into the labour market. The paper also presents the EU countries’ ranking related to higher education and professional training, pointing out the importance of lifelong professional training at the place of work. The paper draws conclusions regarding the importance of the labour force training, as the operation of a modern economy requires the existence of a well-trained labour force, education representing one of the fundamental pillars of any society’s development.

  4. Design and Implementation of the Human Capital Report

    DEFF Research Database (Denmark)

    Parisi, Cristiana; Rossi, Paola

    2016-01-01

    centres, businesses. Furthermore, we have designed a model for the management of human resources, integrating two different approaches: individual and organic. On the basis of this model, semi-structured interview was carried out to obtain rich data on the current competences of key employees, divided......The purpose of this paper is to develop a Human Capital Report focused on the competency profile of the key employees. Employing the case study of Biomedical Branch of University of Florence, we have designed a strategy map centred on key stakeholders: students, university, didactic and research...... in three personal characteristics for each strategic theme: knowledge, skills, aptitudes. The results of our analysis show where the competences of the key personnel are lacking, the strategic initiatives to take in the future, and the lead indicators to use for measure the effects of the initiatives...

  5. Strategic Management of Human Capital in Education: Improving Instructional Practice and Student Learning in Schools

    Science.gov (United States)

    Odden, Allan R.

    2011-01-01

    "Strategic Management of Human Capital in Education" offers a comprehensive and strategic approach to address what has become labeled as "talent and human capital." Grounded in extensive research and examples of leading edge districts, this book shows how the entire human resource system in schools--from recruitment, to selection/placement,…

  6. Strategic Management of Human Capital in Education: Improving Instructional Practice and Student Learning in Schools

    Science.gov (United States)

    Odden, Allan R.

    2011-01-01

    "Strategic Management of Human Capital in Education" offers a comprehensive and strategic approach to address what has become labeled as "talent and human capital." Grounded in extensive research and examples of leading edge districts, this book shows how the entire human resource system in schools--from recruitment, to selection/placement,…

  7. The Study of the Relationship Between Intellectual Capital and Financial

    Directory of Open Access Journals (Sweden)

    Ali Daneshi

    2013-07-01

    Full Text Available In this current research, the relationship between intellectual capital and some financial ratios of listed companies in Tehran Stock Exchange were studied and wanted to find out whether there is any relationship between intellectual capital and some financial performance such as Return on Assets, Return of Equity, net profit margin ratio to sales and each share price ratio to earning among the listed companies in Tehran Stock Exchange in the first place and which ratio has the more significant relationship to intellectual capital in the second place. Intellectual capital means a part of a company total capital or asset which is knowledgebase and the company is its owner. In an overall classification, intellectual capital includes three parts which are called human capital, structural capital (organizational and customer capital (relationship. In this research, deductive-inductive method was used and library method-Stock Exchange archive-was utilized in order to acquire the needed data for theoretical issues and financial data based on the audited financial statements of under study companies. In order to do this study, the above mentioned ratios were compared with intellectual capital during the research years. By analyzing the acquired data during a 5 year period 2008 to 2012, the results of the study with showed that intellectual capital has got a considerable influence on some financial ratios of the listed companies in Tehran Stock Exchange.

  8. A survey on relationship between capital structure, free cash flow and diversification and firm performance of listed companies in Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Mohammad Khodaei Valahzaghard

    2014-10-01

    Full Text Available This paper presents an empirical investigation to study the effects of free cash flow, share diversification and capital structure on Tobin-Q in selected firms on Tehran Stock Exchange. The population of the survey includes 520 firms listed on this exchange until year 2012 and the survey uses a sample of 105 firms, randomly. The study uses the models originally developed by Palepu (1985 [Palepu, K. (1985. Diversification strategy, profit performance and the entropy measure. Strategic Management Journal, 6(3, 239-255.] to measure the effects of different factors on Tobin Q. The study has indicated that while capital structure and free cash flow influence positively on Tobin Q, diversification has maintained a negative and meaningful relationship with Tobin Q.

  9. An investigation between intellectual capital and investment opportunity

    Directory of Open Access Journals (Sweden)

    Shiva Tavakoli

    2014-02-01

    Full Text Available This paper presents an empirical investigation to study the relationship between intellectual capital and investment opportunities on selected firms listed on Tehran Stock Exchange (TSE over the period 2005-2011. In our survey, Tobin Q represents investment opportunity and intellectual capital is measured based on different variables such as value added intellectual capital and human capital. The study uses regression technique with panel data and random effect and the results indicate that there was no meaningful relationship between intellectual capital and investment opportunity. In other words, most investment opportunities on TSE do not depend on intellectual capital and they mostly depend on traditional methods of investment.

  10. The management of human capital in the framework of the theory of intellectual capital, a guide to indicators; La Gestion del capital humano en el Marco de la Teoria del Capital Intelectual. Una guia de indicadores

    Energy Technology Data Exchange (ETDEWEB)

    Tejiero Alvarez, M. M.; Garcia Alvarez, M. T.; Mariz Perez, R. M.

    2010-07-01

    The study of the Intellectual Capital has a great importance in the last decade. In this context, Human Capital is established as a key variable to obtain sustainable competitive advantages in enterprises management. In this paper, we make a revision about the importance of Human Capital in the companies and we propose various indicators which allow to manage this concept. The objective is that the directives can choose the most suitable indicators in function of the characteristics of their enterprises, their management objectives and their strategies. (Author) 43 refs.

  11. Expelled: Humans in Capitalism’s Deepening Crisis

    Directory of Open Access Journals (Sweden)

    Saskia Sassen

    2015-08-01

    Full Text Available As the Cold War was winding down, a new struggle began. Following a period of diverse versions of Keynesian-led relative redistribution in developed market economies, the United States became the point actor for a radical reshuffiing of capitalism. Key to this reshuffiing was expulsion - of people, places, and traditional economies (see Sassen 2014. While this is a socio-economic condition it is a critical, but invisible, element of the current political crisis. Measuring economic growth to understand whether government policies are working, or measuring political participation in terms of voting, excludes growing portions of our political economy - people, specific types of firms and economic circuits, and spaces. The Keynesian period was one of mass production and mass construction of suburban space: this brought with it an economic logic that valued people as workers and consumers, though not necessarily as human beings. The logic guiding the current phase of advanced capitalism does not value people as workers or as (mass consumers. Thus, in the last two decades there has been a sharp growth in the numbers of people that have been "expelled" from the economy in much of the world. The active expanding of a middle class in that earlier period has been replaced by the impoverishment and shrinking of the middle class.

  12. Measuring the Effects of Human Capital on Growth in the Case of Romania

    Directory of Open Access Journals (Sweden)

    Olimpia NEAGU

    2012-04-01

    Full Text Available It is obvious that human capital is critical for economic growth. The exploration of the impact of human capital on growth could bring valuable information for policy makers to substantiate their development strategies and to stimulate factors leading to economic growth. The paper aims to investigate the relationships between human capital and economic growth in the romanian economy by analyzing the correlations between statistical variables measuring human capital and economic growth. Using a regression model, it is analyzed the impact of the educational and health capital on the economic output. In the paper, a linear regression model of the relation of human capital to economic growth is subjet of an empirical analysis, firstly, taking into consideration only education as human capital and secondly, incorporating in the model the both components: health and education. A strong correlation between educational variables and GDP, for 1990-2010, was found. The quality of the educational capital has a determinant role in the economic growth, the highly educated people are influencing more the economic output than the secondary educated ones. GDP per capita is negatively correlated with the number of worked hours and positively influenced by the life expectancy. The most important contribution contained by this article refers to the incorporation of the two components of human capital in the same econometric model explaining the economic growth. The added value of paper consists in offering suggestions and orientation for national educational policies.

  13. THE INVESTMENT IN HUMAN CAPITAL – MORE THAN AN IDEA IN PRESENT AND FUTURE REALITIES

    Directory of Open Access Journals (Sweden)

    BUTA SIMONA

    2014-07-01

    In countries, there is a consensus, that parts of the level of government investment include also the need for investment in educational services, governments undoubtedly playing a central role in directing the formation and development of human capital. We need to invest in human capital, doubly so as that the investment in education is a profitable one, the rate of capitalization of the investment in education ranging from 5-30%, according to OECD statistics.

  14. 中国省际公共资本存量估算:概念、框架与指标构建%Estimation of China’ s provincial public capital stock:Concept, framework and index construction

    Institute of Scientific and Technical Information of China (English)

    吴明娥; 曾国平; 曹跃群

    2016-01-01

    Based on the perpetual inventory method and age-efficiency patterns, China” s provincial public capital stock and productive public capital stock are estimated from 1985 to 2014. In the process of estimation, the statistical range of public capital and time sequence of asset depreciation by deduction of asset value are employed. Comparison with the public capital stock, the results show that the productive public stock can be better to reflect the ratio of capital to production since assets retirement and efficiency loss are taken into account. Overall, the growth rate of productive public capital stock was slow before 1993 , after that the rate was increased dramatically. And the implementation of active fiscal policy at the times of financial crisis such as 1998 and 2009 , has contributed further to the accumulation of public capital stock. In addition, the productive public capital stock presents obvious ladder-like distribution from east to west. The public capital stock is largest in coastal regions and facing a serious shortage in northwest regions.%文章通过合理界定公共资本内涵及统计范围,运用资产价值公式推导资产折旧率的时间序列数据,基于永续盘存法、“年龄—效率”函数谨慎测算1985-2014年中国省际公共资本存量和生产性公共资本存量。结果表明,与公共资本存量相比,生产性公共资本存量通过综合考虑资产退役及效率损失,更能反映实际服务于生产过程的公共资本规模。总体上,中国生产性公共资本存量自1993年以来增速明显加快,金融危机时期积极财政政策的实施进一步推动公共资本存量的迅速积累;区域上,生产性公共资本存量由东向西呈阶梯式分布,沿海地区公共资本存量处于领先水平,而大西北地区的公共投资呈严重不足状态。

  15. THE EFFECT OF ACQUISITION ON THE STOCK RETURNS OF ACQUIRING COMPANIES: EXAMINING THE EFFECT OF ACQUISITIONS OCCURED THROUGH THE PERMISSION OF CAPITAL MARKET BOARD ON THE STOCK RETURNS OF ACQUIRING COMPANIES

    Directory of Open Access Journals (Sweden)

    LEVENT ÇITAK

    2013-06-01

    Full Text Available A merger can be defined as the economical and legal integration of two or more firms. On the other hand, an acquisiton is the transfer of all asssets and liabilities of the target firm to the acquiring firm. In the literature, merger and acquisition concepts can be used interchangeably. Firms tend to merge for the sake of creating snergy, competitive advantage, diversification, increasing firm value etc. Mergers and acquisitions are sometimes in favour of acquiring firms’ stock holders and sometimes target firms’ stock holders. Merger gains change, depending on the type of the merger and form of payment. In this study, mergers that occured through the permission of Capital Market Board have been used for the analyses. Of the mergers which have the permission, acquiring firms that are listed on Istanbul Stock Exchange have been considered and postacquisition buy and hold abnormal returns and cumulative abnormal returns have been calculated. It is concluded that postacquisition abnormal returns aren’t statistically significant. On the other hand, 1 month, 3 month, 6 month, 1 year and 2 year buy and hold abnormal returns and cumulative abnormal returns of the acquiring firms that use different payment methods are not statistically different from each other, on the basis of same return horizon. Two different methods of abnormal return calculation don’t make any difference in postacquisition abnormal returns, either.

  16. HOME COMPUTER USE AND THE DEVELOPMENT OF HUMAN CAPITAL*

    Science.gov (United States)

    Malamud, Ofer; Pop-Eleches, Cristian

    2012-01-01

    This paper uses a regression discontinuity design to estimate the effect of home computers on child and adolescent outcomes by exploiting a voucher program in Romania. Our main results indicate that home computers have both positive and negative effects on the development of human capital. Children who won a voucher to purchase a computer had significantly lower school grades but show improved computer skills. There is also some evidence that winning a voucher increased cognitive skills, as measured by Raven’s Progressive Matrices. We do not find much evidence for an effect on non-cognitive outcomes. Parental rules regarding homework and computer use attenuate the effects of computer ownership, suggesting that parental monitoring and supervision may be important mediating factors. PMID:22719135

  17. HOME COMPUTER USE AND THE DEVELOPMENT OF HUMAN CAPITAL.

    Science.gov (United States)

    Malamud, Ofer; Pop-Eleches, Cristian

    2011-05-01

    This paper uses a regression discontinuity design to estimate the effect of home computers on child and adolescent outcomes by exploiting a voucher program in Romania. Our main results indicate that home computers have both positive and negative effects on the development of human capital. Children who won a voucher to purchase a computer had significantly lower school grades but show improved computer skills. There is also some evidence that winning a voucher increased cognitive skills, as measured by Raven's Progressive Matrices. We do not find much evidence for an effect on non-cognitive outcomes. Parental rules regarding homework and computer use attenuate the effects of computer ownership, suggesting that parental monitoring and supervision may be important mediating factors.

  18. DEVELOPMENT OF BUSINESS SKILLS MODULE FOR HUMAN CAPITAL MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Moré, Dailien

    2015-12-01

    Full Text Available Today firms advocate buy a business improvement depends on proper reach staff selection considering the level of commitment, work attitude, skills and competencies of each person in the performance of the functions of the various fees and jobs. This research proposes a module occupational competency (CL that would strengthen the Human Capital Management (GCH. The proposal may encourage national institutions and increase their productivity sustained employment success for the country. For the realization of the solution was carried out the study of business processes and methods of multicriterial decision-making. Following the completion of the design, the solution was implemented and the identified components were integrated, the results of the data obtained showed the feasibility of the contribution to the solution of the problem.

  19. Knowledge-Intensive Entrepreneurship and the Impact of Human Capital

    DEFF Research Database (Denmark)

    Madsen, Henning; Neergaard, Helle; Ulhøi, John Parm

    2002-01-01

    The purpose of this paper is to address selected aspects of human capital in association with the entrepreneurial process in technology-based new ventures. Until recently, research investigating the founding of new businesses has mainly focused on the personal characteristics of entrepreneurs......, but this trait approach tends to underestimate the extent to which crucial skills may be acquired. The preliminary findings presented in this paper indicate that it is not so much the inherent personality that is instrumental in founding and growing a new venture. Previous employments as well as entrepreneurial...... experiences are both considered to be critical to the entrepreneurial process, as they both seem to impact on new venture establishment. The longer the career path before venture founding, the more experience an entrepreneur has gathered. Therefore, age seems to have a positive influence on the success...

  20. Private Transfer Choices under Uncertainty in Human Capital

    Directory of Open Access Journals (Sweden)

    Rodrigo J. Raad

    2015-03-01

    Full Text Available We develop a theoretical model for parental behavior regarding land inheritance, accounting for consumption and savings strategies. We identify two types of modeling: one with, and another without, strategic behavior. In the first model, we assume that children do not act strategically towards their parent. We find that the child with the highest return to human capital is more likely to receive a larger share of the land if the difference in offspring’s returns is large. In the second model, we allow for each child to influence parent’s optimal choice of bequest by providing services to the latter. We illustrate that the child’s strategy for service provision is sufficient to assure that the one providing more assistance will receive a larger share of the bequest in a Nash equilibrium. We conclude by illustrating our theoretical model with some empirical analysis using longitudinal data for the rural Brazilian Amazon.

  1. Human capital management in government: replacing government retirees.

    Science.gov (United States)

    Kochanowski, Yvonne J

    2011-01-01

    Faced with high levels of senior civil servant retirement in the coming years and limited by civil service requirements, government organizations often struggle to maintain the knowledge base of previous processes and results while promoting people who are truly interested in being leaders in an agency. Upcoming generations of public sector workers do not share the same motivation and workplace characteristics of current exiting civil servants, further complicating smooth transitions of leadership. Government personnel systems for the most part are inflexible and slow to hire, and retention methods for workers do not encourage succession planning. Against this backdrop, a five-phased human capital management system, using some of the best practices found in both public and private sector organizations, is proposed as a solution for replacing government retirees with workers who are prepared for their leadership and management roles.

  2. Human capital and salary differences in Mexico, 2000-2009

    Directory of Open Access Journals (Sweden)

    Rogelio Varela Llamas

    2012-07-01

    Full Text Available The aim of this document is to estimate two models econometrics on the determination of the wages in Mexico for the period 2000–2009. There is in use information of the National Survey of Urban Employment and of the National Survey of Occupation and Employment of the National Institute of Statistics, Geography and Informatics (inegi. The impact is analyzed on the wage income of variables of offer of work as labor experience and human capital. In contrast, variables of demand are in use as size of company, sector of activity and other attributes of sociodemographic character. The results indicate that the wage differences by degree of education are marked, but they are also by type of establishment and economic activity.

  3. A Multicultural Competencies Approach to Developing Human Capital Management

    Science.gov (United States)

    Woolliscroft, Paul; Cagáňová, Dagmar; Čambál, Miloš; Šefčíková, Miriam; Kamenova, Joana Valery

    2012-12-01

    The globalisation phenomenon has been prevalent since the last decade of 20th century and remains a significant factor influencing both organisations and individuals today. Within a globalised business environment the effective management of multicultural aspects and differences has become imperative to ensure success. It is increasingly evident there is a need to develop a clear understanding of multicultural competencies in order to fully develop a strategic approach to human capital management (HCM). The adoption of a strategic approach is necessary to ensure a focus on the issues critical to success and competitive advantage including multicultural management, professional skills and knowledge management. This paper aims to identify the importance of intercultural management and the impact of globalisation upon international business.

  4. Neoliberal epistemology: From the impossibility of knowing to human capital

    Directory of Open Access Journals (Sweden)

    Krašovec Primož

    2013-01-01

    Full Text Available Today’s discussions on education policy mostly consist of uncritical shuffling of allegedly neutral and merely technical or practical notions such as life-long learning, learning to learn or problem-solving and are based on similarly uncritical acceptance of socio-economic theories of the knowledge society, which is supposed to present an objective framework of education reforms. The aim of this article is to sketch the history of mentioned notions and to present a critique of theories of the knowledge society through an analysis of its tacit political content. To this aim, we took upon early neoliberal epistemology (Hayek and Polanyi as well as its transition towards theories of human capital (Drucker and Machlup.

  5. Lost human capital from early-onset chronic depression.

    Science.gov (United States)

    Berndt, E R; Koran, L M; Finkelstein, S N; Gelenberg, A J; Kornstein, S G; Miller, I M; Thase, M E; Trapp, G A; Keller, M B

    2000-06-01

    Chronic depression starts at an early age for many individuals and could affect their accumulation of "human capital" (i.e., education, higher amounts of which can broaden occupational choice and increase earnings potential). The authors examined the impact, by gender, of early- (before age 22) versus late-onset major depressive disorder on educational attainment. They also determined whether the efficacy and sustainability of antidepressant treatments and psychosocial outcomes vary by age at onset and quantified the impact of early- versus late-onset, as well as never-occurring, major depressive disorder on expected lifetime earnings. The authors used logistic and multivariate regression methods to analyze data from a three-phase, multicenter, double-blind, randomized trial that compared sertraline and imipramine treatment of 531 patients with chronic depression aged 30 years and older. These data were integrated with U.S. Census Bureau data on 1995 earnings by age, educational attainment, and gender. Early-onset major depressive disorder adversely affected the educational attainment of women but not of men. No significant difference in treatment responsiveness by age at onset was observed after 12 weeks of acute treatment or, for subjects rated as having responded, after 76 weeks of maintenance treatment. A randomly selected 21-year-old woman with early-onset major depressive disorder in 1995 could expect future annual earnings that were 12%-18% lower than those of a randomly selected 21-year-old woman whose onset of major depressive disorder occurred after age 21 or not at all. Early-onset major depressive disorder causes substantial human capital loss, particularly for women. Detection and effective treatment of early-onset major depressive disorder may have substantial economic benefits.

  6. The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis

    Directory of Open Access Journals (Sweden)

    Ahmet Gökçe Akpolat

    2014-01-01

    Full Text Available This study aims to determine the long-run impact of physical and human capital on GDP by using the panel data set of 13 developed and 11 developing countries over the period 1970–2010. Gross fixed capital formation is used as physical capital indicator while education expenditures and life expectancy at birth are used as human capital indicators. Panel DOLS and FMOLS panel cointegrated regression models are exploited to detect the magnitude and sign of the cointegration relationship and compare the effect of these physical and human capital variables according to these two different country groups. As a consequence of panels DOLS and FMOLS models, the impact of physical capital and education expenditures on GDP in the developed countries is determined as higher than the impact in the developing countries. On the other hand, the impact of life expectancy at birth on GDP is determined as higher in the developing countries.

  7. Accumulating Human Capital While Increasing Educational Inequality: A Study on Higher Education Policy in China

    Science.gov (United States)

    Chan, Wing Kit; Ngok, Kinglun

    2011-01-01

    Since 1999, the expansion of higher education has been viewed as an important step in accumulating human capital for China that was to gradually open its domestic sectors to the global market at a turbulent time at the turn of the century. Recent studies suggest that the improvement of human capital has succeeded in preparing China with a solid…

  8. Report: EPA Prepared to Implement Strategic Human Capital Management Activities But Challenges Remain

    Science.gov (United States)

    Report #2004-P-00024, September 20, 2004. EPA’s headquarters and regional offices are prepared to implement strategic human capital management activities, but an alignment of office-level activities to the Agency’s Strategy for Human Capital is lacking.

  9. The impact of social and human capital on new venture internationalization

    DEFF Research Database (Denmark)

    Neergaard, Helle

    2003-01-01

    The article seeks to address how industry affiliation affects the way in which social and human capital is used by technology- and knowledge-based entrepreneurs in the internationalisation process.......The article seeks to address how industry affiliation affects the way in which social and human capital is used by technology- and knowledge-based entrepreneurs in the internationalisation process....

  10. Influence of socio-cultural modernization on development of human capital assets in Russia

    Directory of Open Access Journals (Sweden)

    2014-01-01

    Full Text Available The paper presents major points of research into socio-cultural conditions of human capital assets accumulation in Russia. Notion of social justice, social responsibility of business, realization of their role as “vehicle of capital” by employees, national mentality – all this essentially influences on efficiency of human capital assets accumulation in Russia.

  11. Age and Educational Selectivity among Migration and Human Capital Flows in the West.

    Science.gov (United States)

    Evenson, James A.

    This paper quantifies and analyzes the total flows of human capital moving in and out of the West over time as a result of interregional migration. Particular emphasis is placed on analyzing the "age-education" interaction effect of migration on flows of human capital. Migration was highly selective of the young and/or highly educated…

  12. Human Capital Development and Poverty Alleviation in Nigeria: A Symbiotic Overview

    Science.gov (United States)

    Asaju, Kayode

    2012-01-01

    Human Capital development through education is a long time investment made by the state to enhance the well being of her citizenry. By investing in education, well educated individuals bring to bear their talents, knowledge, skills and experiences as they function in the various sectors of the economy. Human Capital development is therefore a…

  13. Changes and Challenges in the Flow of International Human Capital: China's Experience

    Science.gov (United States)

    Pan, Su-Yan

    2010-01-01

    This article tracks the changes in the directions of the international flow of Chinese human capital between the 1870s and 2000s. Although many studies on international academic flow adopt the pull-and-push approach, this article argues that the direction of human capital flow is not determined solely by an individual's choice when faced with a…

  14. Does Human Capital Investment Impact the Earning Mobility of the Near Poor?

    Science.gov (United States)

    Karasik, Bradley

    2012-01-01

    This secondary analysis of the earning mobility of the near poor examined the impact of human capital investment on the earning mobility of the near poor between 2005 and 2009. The theory framing this study is Human Capital Theory (Shultz, 1961). Other demographic and socioeconomic variables were included in this study to further explore factors…

  15. Does Human Capital Theory Explain the Value of Higher Education? A South African Case Study

    Science.gov (United States)

    van der Merwe, Alex

    2010-01-01

    A perennial debate in the economics of education is whether human capital or screening/signalling theories best explain the value of schooling and hence the private demand for, in particular, higher education. Human capital theory proposes that formal training such as that offered by higher education institutions improves the productive capacity…

  16. Current and Future Value of Human Capital: Predictors of Reemployment Compensation Following a Job Loss

    Science.gov (United States)

    Gowan, Mary A.; Lepak, David

    2007-01-01

    The authors examined the relationship between an individual's human capital profile--knowledge, skills, abilities, and other characteristics--and compensation before and after a job loss. The results of this study show that the types of human capital that predicted pre-job-loss salary differ from the types that predict reemployment salary. The…

  17. State Education as High-Yield Investment: Human Capital Theory in European Policy Discourse

    Science.gov (United States)

    Gillies, Donald

    2011-01-01

    Human Capital Theory has been an increasingly important phenomenon in economic thought over the last 50 years. The central role it affords to education has become even more marked in recent years as the concept of the "knowledge economy" has become a global concern. In this paper, the prevalence of Human Capital Theory within European…

  18. 75 FR 11940 - Office of the Chief Human Capital Officer; Information Collection; Ancestry and Ethnicity Data...

    Science.gov (United States)

    2010-03-12

    ... NATIONAL INTELLIGENCE Office of the Chief Human Capital Officer; Information Collection; Ancestry and... the Chief Human Capital Officer, ODNI, at Washington, DC 20511, or call 703-275-3369. Please cite... submitted on or before April 12, 2010. FOR FURTHER INFORMATION CONTACT: The Office of the Chief...

  19. Testing the Human Capital Development Model: The Case of Apprenticeships in Turkey

    Science.gov (United States)

    Akpinar, Taner; Gün, Servet

    2016-01-01

    Human capital theory was developed to study how individual agents make rational choices or how they invest in human capital to maximize their welfare. One of the leading founders of this perspective, Becker, argues that schooling, on-the-job training, medical care, migration and searching for information about prices and incomes are different…

  20. Human Capital, Education and the Promotion of Social Cooperation: A Philosophical Critique

    Science.gov (United States)

    Gilead, Tal

    2009-01-01

    Although since the 1960s human capital theory has played a major role in guiding educational policy, philosophical issues that stem from this development have rarely been discussed. In this article, I critically examine how the idea that human capital should serve as a guide to educational policy making stands in relation to the role assigned to…

  1. AACP Special Taskforce on Diversifying Our Investment in Human Capital Interim Update.

    Science.gov (United States)

    White, Carla; Adams, Jennifer

    2016-09-25

    The 2015-2017 AACP Special Taskforce on Diversifying our Investment in Human Capital was appointed for a two-year term, therefore the interim update from the Taskforce. A full report will be provided in 2017 in the form of a white paper for academic pharmacy on diversifying our investment in human capital.

  2. Performance of the Higher Education Students Loans Board in Human Capital Investment from 2005-2015

    Science.gov (United States)

    Memba, Albert Zephaniah; Feng, Zhao Zun

    2016-01-01

    Many studies conducted on the Higher Education Students Loans Board (HESLB) have mostly concentrated on its success, sustainability and effectiveness on loans issuance and repayment. None had focused on its performance towards human capital investment. This study sought to explain and analyze HESLB's performance in human capital investment, which…

  3. The conditional returns to origin-country human capital among Turkish and Moroccan immigrants in Belgium

    NARCIS (Netherlands)

    Kanas, Agnieszka; van Tubergen, Frank

    2014-01-01

    This study extends the analysis of the economic returns to pre-migration human capital by examining the role of the receiving context, co-ethnic residential concentration, and post-migration investments in human capital. It uses large-scale survey data on Turkish and Moroccan immigrants in Belgium.

  4. High-growth versus declining firms : The differential impact of human capital and R&D

    NARCIS (Netherlands)

    Goedhuys - Degelin, Micheline; Sleuwaegen, L.

    2016-01-01

    We provide evidence that both human capital and R&D increase the likelihood that a firm will be a high-growth firm in the industry. However, different from human capital, being an R&D active firm also increases the probability of substantial decline or failure, underscoring the risky nature of innov

  5. Educational loan and human capital accumulation in a small open economy

    OpenAIRE

    Megumi Mochida

    2004-01-01

    Cartiglia (1997) shows that trade increases human capital investment in developing countries unless there are credit markets for individuals. In this paper, when households can borrow the education cost from a market, a trade-induced decrease in the skilled wage leads to less human capital investment in developing countries.

  6. Human Capital and the Labor of Learning: A Case of Mistaken Identity

    Science.gov (United States)

    Sidorkin, Alexander M

    2007-01-01

    In this essay, Alexander Sidorkin offers a conceptual critique of the human capital theory that makes erroneous assumptions about the nature of student work and the private cost of schooling. Specifically, human capital theorists underestimate the private cost of schooling by taking low-level manual labor as the basis for estimating students'…

  7. The economic performance of immigrants : the role of human and social capital

    NARCIS (Netherlands)

    Kanas, A.M.

    2011-01-01

    This study examines the role of human and social capital in the economic performance of immigrants. It improves upon previous research in several ways. First, it distinguishes between human capital acquired in the country of origin and destination. Second, it focuses not only on immigrants’ contacts

  8. Knowledge Creation and Human Capital for Development: The Role of Graduate Entrepreneurship

    Science.gov (United States)

    Mitra, Jay; Abubakar, Y. A.; Sagagi, M.

    2011-01-01

    Purpose: Tackling structural and emergent problems in the labour market, valorising skilled human capital (HC) for opportunity creation, economic development and growth, are some of the key drivers for graduate entrepreneurship. This paper aims to examine developments in Africa, focusing on the significance of improving human capital through…

  9. To what extent does human capital increase the home country bias?

    NARCIS (Netherlands)

    Boonstra, Bernard; Sterken, Elmer

    2001-01-01

    Abstract This paper analyses the role of human capital as a hedge against future unexpected changes in consumption of nontradable goods. We show, in line with Baxter-Jermann (1997) that human capital aggra- vates the home country bias, although we a lower increase of the bias based on an empirical a

  10. The economic performance of immigrants : the role of human and social capital

    NARCIS (Netherlands)

    Kanas, A.M.|info:eu-repo/dai/nl/304822825

    2011-01-01

    This study examines the role of human and social capital in the economic performance of immigrants. It improves upon previous research in several ways. First, it distinguishes between human capital acquired in the country of origin and destination. Second, it focuses not only on immigrants’ contacts

  11. State Education as High-Yield Investment: Human Capital Theory in European Policy Discourse

    Science.gov (United States)

    Gillies, Donald

    2011-01-01

    Human Capital Theory has been an increasingly important phenomenon in economic thought over the last 50 years. The central role it affords to education has become even more marked in recent years as the concept of the "knowledge economy" has become a global concern. In this paper, the prevalence of Human Capital Theory within European…

  12. Testing the Human Capital Development Model: The Case of Apprenticeships in Turkey

    Science.gov (United States)

    Akpinar, Taner; Gün, Servet

    2016-01-01

    Human capital theory was developed to study how individual agents make rational choices or how they invest in human capital to maximize their welfare. One of the leading founders of this perspective, Becker, argues that schooling, on-the-job training, medical care, migration and searching for information about prices and incomes are different…

  13. Current and Future Value of Human Capital: Predictors of Reemployment Compensation Following a Job Loss

    Science.gov (United States)

    Gowan, Mary A.; Lepak, David

    2007-01-01

    The authors examined the relationship between an individual's human capital profile--knowledge, skills, abilities, and other characteristics--and compensation before and after a job loss. The results of this study show that the types of human capital that predicted pre-job-loss salary differ from the types that predict reemployment salary. The…

  14. Human Capital, Education and the Promotion of Social Cooperation: A Philosophical Critique

    Science.gov (United States)

    Gilead, Tal

    2009-01-01

    Although since the 1960s human capital theory has played a major role in guiding educational policy, philosophical issues that stem from this development have rarely been discussed. In this article, I critically examine how the idea that human capital should serve as a guide to educational policy making stands in relation to the role assigned to…

  15. The conditional returns to origin-country human capital among Turkish and Moroccan immigrants in Belgium

    NARCIS (Netherlands)

    Kanas, A.M.; Tubergen, F.A. van

    2014-01-01

    This study extends the analysis of the economic returns to pre-migration human capital by examining the role of the receiving context, co-ethnic residential concentration, and post-migration investments in human capital. It uses large-scale survey data on Turkish and Moroccan immigrants in Belgium.

  16. An Empirical Test of the Validity of the Capital Asset Pricing Model on the Zimbabwe Stock Exchange

    National Research Council Canada - National Science Library

    Melody Nyangara; Davis Nyangara; Godfrey Ndlovu; Takawira Tyavambiza

    2016-01-01

    .... We conclude that, although the explanatory power of beta tends to fall rapidly for prediction horizons greater than 6 months, beta significantly explains average monthly stock returns on the ZSE...

  17. 我国资本存量估算的比较分析%Comparative Analysis of Estimates on Capital Stock of China

    Institute of Scientific and Technical Information of China (English)

    李宾

    2011-01-01

    Reliable estimates on capital stocks are a premise for macroeconomic analysis. However, there are many versions of estimates on capital in China. This paper discusses the main estimation methods in the literature and reaches the following conclusions. The specification on depreciation rate has the largest influence on capital estimates; gross fixed capital formation presents similar performance to total investment in fixed assets, but with the former a little better; the differences in base year capital have little influence;consensus can be obtained for investment price index. How to make a correct choice among several candidates of investment flows remains a problem. If one tries to understand the discrepancies in the literature, depreciation rates and investment variables are the two aspects that need prior attention.%可靠的资本存量数据是分析许多宏观经济问题的前提,但对我国资本存量的估算存在着许多差异较大的版本。本文对比了主要估算方法,形成了如下几个结论:折旧率的设定对估算结果影响最大;基期资本存量的影响很小;价格指数则基本可达成共识;固定资本形成总额与全社会固定资产投资的表现很相近,前者稍优;对投资流量的选取是一个难题。若要判断文献中不同研究结论的差异原因,需着重关注折旧率与投资流量。

  18. Problems of Development of Human Capital in the Regions of North Caucasian Federal District

    Directory of Open Access Journals (Sweden)

    Aminat Ruslanovna Kappusheva

    2016-03-01

    Full Text Available The article specifies types of investments in human capital: spending on education, health and mobility. The author highlights the key actors invest in human capital development: the state, the corporate sector, households; emphasizes the low activity of the corporate sector and households in the process of investing in human capital. During the analysis of the problems of development of the human capital of the North Caucasian Federal District the author highlighted the interdependence of development of the productive sector of the economy and human capital: the low level of industrialization determines the gap in terms of gross regional product, high unemployment and low incomes, lack of investment in human capital of households. The article also deals with the problems of health and education in the North Caucasian Federal District: the shortage of qualified personnel, insufficient capacity of institutions. The analysis of the structure of regional budget expenditures on human capital development are pointed out. They include the spheres of health, education and culture. There is a direct and close relationship between the amount of budget spending on health, education, culture and the level of development of human capital in the country and the region. In the regions of the North Caucasian Federal District the lower level of educated population engaged in the sphere of economics was revealed. Particular attention is paid to analysis of the quality of human capital state and municipal employees of the North Caucasian Federal District, whose activities in the conditions of underdevelopment of large business, significantly affects the prospects for regional economic growth. The necessity of developing and implementing regional policies to promote health, education and culture, determines the quality of human capital in the economy.

  19. Studying the Relationship between Working Capital Management and Profitability at Tehran Stock Exchange: A Case Study of Food Industry

    National Research Council Canada - National Science Library

    Mosa Ahmadi; Iraj Saie Arasi; Maryam Garajafary

    2012-01-01

    .... 33 companies were selected for a period of five years from 2006-2011 and the effect of various variables of working capital management including average accounts collection cycle, inventory turnover...

  20. DOCUMENTING OF THE PROCESS OF ACCUMULATION OF KNOWLEDGE AND DEVELOPMENT OF THE INTELLECTUAL HUMAN CAPITAL

    Directory of Open Access Journals (Sweden)

    Yermolenko V. V.

    2015-06-01

    Full Text Available The problem of documenting of process of accumulation of knowledge and development of the intellectual human capital is considered in this article. The purpose of the article is the research of theoretical approaches of documenting of process of accumulation of knowledge, development of the intellectual human capital and the analysis of domestic public corporations on documenting of process of accumulation of knowledge. The solution of research tasks in article is proposed: the analysis of the contents of theories of development of the human capital in the conditions of economy of knowledge is carried out; domestic practice of public corporations on documenting of process of accumulation of knowledge is studied; features of documenting of knowledge as maintenance of development of the human capital are marked out. The particular emphasis in the article is placed on disclosure of such problems, as: methodological and theoretical aspects of development of the intellectual human capital; formation of mechanisms and ways of documenting of knowledge in the conditions of knowledge economy; formation of corporate institutes of formation and the development of the intellectual human capital, realizing reproduction of the intellectual capital and engineering of knowledge; formation of organizational innovations and dumping of old organizational routines. Documenting of knowledge is presented as maintenance of development of the human capital, the project of introduction of knowledge management and its documentary maintenance in corporations, and also ways of network documenting of knowledge of the human capital in the process of joint design activity is offered. Development of a special control system and its organizational and methodical providing which will allow to increase efficiency of work with documents during projects of development of the intellectual human capital is necessary for management of the documentary massif of knowledge of the

  1. Human capital on the move: Education as a determinant of internal migration in selected INDEPTH surveillance populations in Africa

    National Research Council Canada - National Science Library

    Ginsburg, Carren; Beguy, Donatien; Augusto, Orvalho; Odhiambo, Frank; Soura, Abdramane; White, Michael J; Bocquier, Philippe; Afolabi, Sulaimon; Derra, Karim; Otiende, Mark; Zabre, Pascal; Collinson, Mark A

    2016-01-01

    BACKGROUND Education, as a key indicator of human capital, is considered one of the major determinants of internal migration, with previous studies suggesting that human capital accumulates in urban...

  2. The impact of IT investments and intellectual capital on firms’ performance

    Directory of Open Access Journals (Sweden)

    Meysam Ghaderi

    2015-09-01

    Full Text Available This paper presents an empirical study to determine the effects of four different factors including human capital, innovation capital, communication capital and information technology (IT capital on firms’ return. The study selects the information of 50 selected firms from Tehran Stock Exchange over the period 2007-2013. Using regression analysis, the study has determined that there were some positive and meaning relationships between human capital, innovation capital, communication capital and information technology capital and firms’ return, however, each of these four factors had various effect. Other results indicate that IT capital had the greatest impact on future returns of companies and among intellectual capital components, communication capital had the highest impact on future earnings.

  3. Research on the Regional Differences of Rural Human Capital Accumulation and it's Influencing Factors%农村人力资本积累的区域差异及其影响因素研究

    Institute of Scientific and Technical Information of China (English)

    刘倩; 薛继亮

    2012-01-01

    我国农村劳动力的文化程度和人力资本存量在1990-2009年出现了双提高的局面。农村人力资本相对存量分布呈现较强的东西部空间梯度,造成这种差异的主要原因是地区经济发展差异。这种较强的东西部空间梯度能够解释农业生产率的区际差异和农村劳动力流动。%In 1990-2009 years,the culture level and rural human capital stock in China appeared to dual improved,the regional of the continued growth of rural human capital focus on the agricultural provinces,relatively stock of rural human capital distribution exhibits strong spatial gradient,the reason of this difference is regional economy development differences.This strong spatial gradients on the stock of rural human capital distribution can explain the agricultural productivity regional differences and the flow of rural labor force.

  4. Investigating the Relationship between the Price to Earnings Ratio with the Return of Adjusted Stock in Capital Market of Iran

    Directory of Open Access Journals (Sweden)

    Akbar Bagheri

    2013-05-01

    Full Text Available The main objective of this study is to investigate and analyze the relationship between the prices to earnings ratio with the return of adjusted stock through total risk of companies listed on the Stock Exchange market of Tehran in Iran. The main objective of any investment is to achieve higher efficiency. Investors in shares of listed companies on the exchange considered several factors. The price to earnings ratio, return and risk are the factors that investors should consider when they want to invest in them. Therefore 100 companies have been investigated during the period 2004-2008. To test the hypothesis we used the regression analysis and correlation, also the significant of patterns were determined by using F and T test and correlation coefficients. The results show that there is no significant relationship between the prices to earnings ratio and adjusted stock returns in the 95% confidence level.

  5. 12 CFR 5.46 - Changes in permanent capital.

    Science.gov (United States)

    2010-01-01

    ... and conversion rights, retirement of the stock, and rights to exercise control over management to the...) Capital stock means the total amount of common stock and preferred stock. (3) Capital surplus means the total of: (i) The amount paid in on capital stock in excess of the par or stated value; (ii) Direct...

  6. Temporal Causality between Human Capital and Real Income in Cointegrated VAR Processes: Empirical Evidence from China, 1960-1990

    OpenAIRE

    Paresh Kumar Narayan; Russell Smyth

    2004-01-01

    This article examines the causal relationship between human capital and real income using data for China from 1960 to 1999. In the long run there is unidirectional Granger causality running from human capital to real income, while in the short run there is unidirectional Granger causality running from real income to human capital.

  7. Determining How Tertiary Education and Human Capital Formation Influenced Economic Expansion in Israel, Japan, and Norway from 2000-2010

    Science.gov (United States)

    Kalkbrenner, Erin Lee

    2014-01-01

    Researchers have calculated the relationship between human capital development and economic output by various means of econometric modeling and by use of numerous indicators under the context of an assortment of human capital theory. This study was conducted to identify new interpretations of the expansion of human capital in the form of tertiary…

  8. Provision of Human Capital by Business Schools of Pakistan: A Need for the Sustainability of the Pakistani Banking Sector

    Science.gov (United States)

    Nauman, Sarwat; Hussain, Nasreen

    2017-01-01

    Economic growth of Pakistan through the banking sector relies heavily on the human capital dispensed to them by the Pakistani business schools. A conceptual model of the continuous improvement cycle for building human capital is developed through a literature review, with the aim of helping to generate human capital. Six semistructured interviews…

  9. Provision of Human Capital by Business Schools of Pakistan: A Need for the Sustainability of the Pakistani Banking Sector

    Science.gov (United States)

    Nauman, Sarwat; Hussain, Nasreen

    2017-01-01

    Economic growth of Pakistan through the banking sector relies heavily on the human capital dispensed to them by the Pakistani business schools. A conceptual model of the continuous improvement cycle for building human capital is developed through a literature review, with the aim of helping to generate human capital. Six semistructured interviews…

  10. Determining How Tertiary Education and Human Capital Formation Influenced Economic Expansion in Israel, Japan, and Norway from 2000-2010

    Science.gov (United States)

    Kalkbrenner, Erin Lee

    2014-01-01

    Researchers have calculated the relationship between human capital development and economic output by various means of econometric modeling and by use of numerous indicators under the context of an assortment of human capital theory. This study was conducted to identify new interpretations of the expansion of human capital in the form of tertiary…

  11. IMPACT OF CAPITAL STRUCTURE POLICY ON VALUE OF THE FIRM – A STUDY ON SOME SELECTED CORPORATE MANUFACTURING FIRMS UNDER DHAKA STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Jahirul HOQUE

    2014-07-01

    Full Text Available The study is about capital structure policy and its impacts on value of the firm. The outcome of this study was both the primary and secondary data. The study was based on opinions survey of 80 respondents of the 20 manufacturing corporate firms, enlisted under Dhaka Stock Exchange. The empirical analysis of the study was limited to a period of five years ranging 2008-2012. The major findings of the study are: (i the most important determinant of capital structure policy as rated by the respondents have been financial risk , profitability, availability of fund, productivity, liquidity, operating risk, growth rate, proper timing, corporate tax, stability of sales/ investment etc, (ii the study reveals that in terms of the average positions of capital structure and financial structure during 2008-2012, Beximco pharma has ranked first followed by Square pharma, Apex Adelchi, DESCO, ACI ltd, Titas gas, Bata shoe,Aftab automobile, Reneata pharma, Square textile ltd etc,(iii as regards the value of the firm during the study period, Titas gas has obtained first rank followed by Square pharma, DESCO, Beximco pharma, BATBC, ACI, Reneta pharma, Apex Tennary, Apex Adelchi, Bata shoe and so on.(iv this study has portrayed that the independent variables namely capital structure (CS, debt to equity (DER & debt to asset (DR, fixed assets to total assets(Tangibility, earnings before interest and taxes to interest charges(ICR, financial leverage multiplier(FLM have influenced value of the firm(VF to the extent of 79.1 percent significantly. Therefore, it is recommended that the relevant firm’s authority should take proper measures in order to improve the independent variables having positive influence on value of the firms.

  12. INFLUENCE OF WELFARE ON THE LEVEL OF DEVELOPMENT OF THE HUMAN CAPITAL OF RUSSIAN REGIONS

    Directory of Open Access Journals (Sweden)

    И. А. Гурбан

    2014-01-01

    Full Text Available The paper provides a methodological approach for mea-suring the level of human capital development in the regions of Russian Federation. The approach suggested enables to determine the qualitative state of human capital in each region, to find out the reasons underpinning the current situation, to asses regions’ contribution to the overall national human ca-pital, to develop some individual approach to forming another quality human capital and its managing for each territory. The methodology afforded the instrument ware based on the qualimetric analysis which uses the natural estimates (indi-cators of an object. A system of indicators simulating the human capital state puts forward the following modules: demographic, educational, labor, research and sociocultural. The tool offered allows differentiation of the Russian regions into the levels of human capital state. 2000 and 2011 rating of Russian regions according to the human capital state and his dynamics over 2000-2011 is given.Purchase on Elibrary.ru > Buy now

  13. Human capital demand in Brazil: The effects of adjustment cost, economic growth, exports and imports

    Directory of Open Access Journals (Sweden)

    Joilson Dias

    2015-01-01

    Full Text Available The objective of this paper is to learn about the effects of the adjustment costs, economic growth, imports and exports on human capital labor demand. The dynamic model proposed by Sargent (1978 was adjusted to consider three types of human capital: (a one with fundamental education (1–8 years of schooling; (b one with secondary education level (9–11 years of education; (c and one with tertiary education level (12 years or more of schooling. Using state level panel data, the dynamic econometrics estimates showed the following results: (i the labor market adjustment costs are very higher; (ii the adjustment cost for the human capital with intermediary education level is the highest one compared to the others; (iii the states’ economic growth favor those with superior education; (iv the imports seems to favor the demand for those with intermediate education levels; (v the degree of openness does show some weak effect on the demand for human capitals with intermediate education. In sum, the growing demand for human capital with some superior education seems to be more associated to its lower adjustment cost and economic growth; the non-significance of real wage elasticity and high adjustment cost seems to indicate that the human capital with intermediate knowledge is in short supply; hence, economic education policy that increases supply of such human capital are in need.

  14. INVESTMENT IN HUMAN CAPITAL – PREREQUISITE FOR THE GROWTH OF THE ORGANIZATIONAL PERFORMANCE

    Directory of Open Access Journals (Sweden)

    BÎRCĂ ALIC

    2015-12-01

    Full Text Available This paper is devoted to investment in human capital as an essential element for ensuring organizational performance. Human capital investments may be direct, more focused on professional training, as well as indirect, more oriented towards the health of employees and the purchase of equipment for their development. In Moldovan organizations investments in human capital are more oriented towards training and professional development of employees. At the same time, in the recruitment and selection of candidates’ process, organizations are trying to attract people that have a high level of professional knowledge and skills, which contribute to increasing the value of their human capital. In order to assess the involvement level of the organizations from Republic of Moldova in terms of human capital development investment, a sociological research that included 152 organizations was conducted. The result of investigations have shown us that human capital value into an organization depends, in the first instance, on the selection tools and techniques that allow election of candidates with an intellectual and professional potential at higher level. Human capital value within organizations increases provided that their staff participates in various professional training programs.

  15. Ageing dynamics of a human-capital-specific population: A demographic perspective

    Directory of Open Access Journals (Sweden)

    Dimiter Philipov

    2014-12-01

    Full Text Available Background: Research on how rising human capital affects the consequences of population ageing rarely considers the fact that the human capital of the elderly population is composed in a specific way that is shaped by their earlier schooling and work experience. For an elderly population of a fixed size and age-sex composition, this entails that the higher its human capital, the greater the total amount of public pensions to be paid. Objective: The main purpose of this paper is to analyse the link between human capital and retiree benefits and its effect on population ageing from a demographic viewpoint. Methods: We construct an old age dependency ratio (OADR, in which each person, whether in the numerator or the denominator, is assigned the number of units corresponding to his/her level of human capital. Based on data for Italy, we study the dynamics of this human-capital-specific OADR with the help of multistate population projections to 2107. Results: Our results show that under specific conditions a constant or moderately growing human capital may aggravate the consequences of population ageing rather than alleviate them. Conclusions: With those findings, the authors would like to stimulate the debate on the search for demographic and/or socio-economic solutions to the challenges posed by population ageing.

  16. Bookworms and Party Animals: An Artificial Labour Market with Human and Social Capital Accumulation

    Science.gov (United States)

    Farhat, Daniel

    2014-01-01

    Data show that educated workers earn higher wages and are unemployed less often. Some researchers believe that education improves a worker's productivity (or "human capital"), making them more desirable on the job market, while others believe that it improves a worker's network (or "social capital"), giving them more…

  17. How Social and Human Capital Predict Participation in Lifelong Learning: A Longitudinal Data Analysis

    Science.gov (United States)

    Knipprath, Heidi; De Rick, Katleen

    2015-01-01

    Policy makers and researchers are increasingly showing interest in lifelong learning due to a rising unemployment rate in recent years. Much attention has been paid to determinants and benefits of lifelong learning but not to the impact of social capital on lifelong learning so far. In this article, we study how social and human capital can…

  18. Human Capital Contracts: "Equity-Like" Instruments for Financing Higher Education. Policy Analysis.

    Science.gov (United States)

    Palacios, Miguel

    Human capital contracts are "equity-like" instruments for financing higher education. Since repayment depends on earning and adjusts to student capital to pay, these contracts should be more attractive to students than traditional loans. By making transparent the relative economic value of certain fields of study or the value of degrees from…

  19. Analysis of Factors Influencing Undergraduates' Occupation Choices: An Investigation of Both Social and Human Capital

    Science.gov (United States)

    Liming, Li; Shunguo, Zhang

    2015-01-01

    Based on 2006 survey data on students from three universities in western China, this study analyzes the effect of the students' family background and academic achievements on their occupation choices. Both social capital and human capital were found to be significant factors influencing their employment decisions. The more abundant the social and…

  20. Education, Health, and Labor Force Supply: Broadening Human Capital for National Development in Malawi

    Science.gov (United States)

    Smith, William C.; Ikoma, Sakiko; Baker, David P.

    2016-01-01

    Education and health are both capital investments in national development, often viewed as independent factors on a country's labor force supply and productivity. This study uses the 2010-2011 Third Integrated Household Survey in Malawi to propose an Education-enhanced Health Human Capital (EHHC) model where education influences labor force supply…

  1. Bookworms and Party Animals: An Artificial Labour Market with Human and Social Capital Accumulation

    Science.gov (United States)

    Farhat, Daniel

    2014-01-01

    Data show that educated workers earn higher wages and are unemployed less often. Some researchers believe that education improves a worker's productivity (or "human capital"), making them more desirable on the job market, while others believe that it improves a worker's network (or "social capital"), giving them more…

  2. How Social and Human Capital Predict Participation in Lifelong Learning: A Longitudinal Data Analysis

    Science.gov (United States)

    Knipprath, Heidi; De Rick, Katleen

    2015-01-01

    Policy makers and researchers are increasingly showing interest in lifelong learning due to a rising unemployment rate in recent years. Much attention has been paid to determinants and benefits of lifelong learning but not to the impact of social capital on lifelong learning so far. In this article, we study how social and human capital can…

  3. Education, Human Capital Enhancement and Economic Development--Comparison between Korea and Taiwan.

    Science.gov (United States)

    Lee, Maw-Lin; And Others

    1994-01-01

    Examines major determinants of economic development in South Korea and Taiwan. Investigates the role of human capital, measured by educational attainment, in driving output growth and enlarging the labor income share. Physical capital accumulation and export expansion affected output growth in both nations. Although technical progress…

  4. Andragogy and Social Capital Theory: The Implications for Human Resource Development

    NARCIS (Netherlands)

    Kessels, Joseph W.M.; Poell, Rob F.

    2004-01-01

    The problem and the solution. This article portrays a perspective from andragogy, individual learning, and social capital theory as a contribution to the discussion on the relationship between adult learning theory and human resource development (HRD). Andragogy and social capital theory may offer a

  5. Andragology and social capital theory: the implications for human resource development

    NARCIS (Netherlands)

    Kessels, Joseph; Poell, Rob F.

    2004-01-01

    The problem and the solution. This article portrays a perspective from andragogy, individual learning, and social capital theory as a contribution to the discussion on the relationship between adult learning theory and human resource development (HRD). Andragogy and social capital theory may offer a

  6. The Impact of Human Capital on Economic Growth: Empirical Evidence from Sudan

    OpenAIRE

    Khalafalla Ahmed Mohamed Arabi; Suliman Zakaria Suliman Abdalla

    2013-01-01

    This paper empirically investigates the impact of human capital on economic growth in Sudan for the period 1982-2009 by using a simultaneous equation model that links human capital i.e. school attainment; and investment in education and health to economic growth, total productivity, foreign direct investment, and human development index. Based on three-stage least squares technique, the empirical results of the paper show that quality of the education has a determinant role in the economic gr...

  7. The effect of occupation-specific brain drain on human capital

    OpenAIRE

    Heuer, Nina

    2011-01-01

    This paper tests the hypothesis of a beneficial brain drain using occupation-specific data on migration from developing countries to OECD countries around 2000. Distinguishing between several types of human capital allows to assess whether the impact of high-skilled south-north migration on human capital in the sending economies differed across occupational groups requiring tertiary education. We find a robust negative effect of the incidence of high-skilled emigration on the level of human c...

  8. Impact of Rural Basic Human Capital Investment on Regional Development Ability

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    From the perspective of human resources development and regional economic cooperation,this paper expounds the basic conditions for socio-economic transformation and development in underdeveloped rural areas,and the ways to acquire basic human capital.On the basis of this,this paper further analyses the regional competitiveness difference arising from human capital difference,and proposes that we should solve this problem through sufficient supply of rural compulsory education.

  9. Big Data and Intelligence: Applications, Human Capital, and Education

    Directory of Open Access Journals (Sweden)

    Michael Landon-Murray

    2016-06-01

    Full Text Available The potential for big data to contribute to the US intelligence mission goes beyond bulk collection, social media and counterterrorism. Applications will speak to a range of issues of major concern to intelligence agencies, from military operations to climate change to cyber security. There are challenges too: procurement lags, data stovepiping, separating signal from noise, sources and methods, a range of normative issues, and central to managing these challenges, human capital. These potential applications and challenges are discussed and a closer look at what data scientists do in the Intelligence Community (IC is offered. Effectively filling the ranks of the IC’s data science workforce will depend on the provision of well-trained data scientists from the higher education system. Program offerings at America’s top fifty universities will thus be surveyed (just a few years ago there were reportedly no degrees in data science. One Master’s program that has melded data science with intelligence is examined as well as a university big data research center focused on security and intelligence. This discussion goes a long way to clarify the prospective uses of data science in intelligence while probing perhaps the key challenge to optimal application of big data in the IC.

  10. Data on examining the role of human capital in the energy-growth nexus across countries

    Directory of Open Access Journals (Sweden)

    Zheng Fang

    2016-12-01

    Full Text Available This article describes two publicly available data sources: the new generation of Penn World Table (www.ggdc.net/pwt and the BP Statistical Review of World Energy (http://www.bp.com/statisticalreview which can be used to examine the role of human capital in the energy-growth nexus across countries. The critical human capital measure across countries is for the first time made available in the Penn World Table 8.0 and it enables empirical researchers to conduct cross-country analysis involving human capital much easily than ever before.

  11. Data on examining the role of human capital in the energy-growth nexus across countries.

    Science.gov (United States)

    Fang, Zheng

    2016-12-01

    This article describes two publicly available data sources: the new generation of Penn World Table (www.ggdc.net/pwt) and the BP Statistical Review of World Energy (http://www.bp.com/statisticalreview) which can be used to examine the role of human capital in the energy-growth nexus across countries. The critical human capital measure across countries is for the first time made available in the Penn World Table 8.0 and it enables empirical researchers to conduct cross-country analysis involving human capital much easily than ever before.

  12. The relationship between financial development indicators and human capital in Iran

    Directory of Open Access Journals (Sweden)

    Hamed Adeli Nik

    2013-04-01

    Full Text Available Human capital is considered as one of the major factors to promote economic stability, especially in developing countries. Furthermore, one of the most important factors in developing human capital is taking the advantage of facilities and economic capabilities in the Instruction Sector. Development of financial system provides such abilities for the prospective countries. This paper studies the influence of financial development on human capital in Iran over period 1977-2010 with the application of a VAR model. The results show that the cash flow in Iran has a negative effect on human capital, which could be because of the increase in inflation and ends increase in costs of long-term investment and human capital is taken into account as long term investment. However, the facilities provided by the banking system has negative effect on human capital due to the lack of the best financial resource allocation. However, since most of university graduate students in Iran practically have adequate skills and education, they do not have enough capital to start a business. Providing financial assistance for the private sector can lead to a business in which they can use their skills and education towards promoting production.

  13. A Study of the Dynamic Relationship between Physical Capital, Human Capital and Economic Growth -- Based on the 1978 -2009 Data Analysis in China%物质资本、人力资本与经济增长的动态关系研究——基于1978-2009年中国数据的实证分析

    Institute of Scientific and Technical Information of China (English)

    王聪

    2011-01-01

    现代经济增长理论显示,人力资本和物质资本均是经济增长的重要影响因素。本文通过盘存法和受教育年限法测算我国的物质资本存量和人力资本存量,利用协整检验和格兰杰因果关系检验方法分别分析人力资本、物质资本和经济增长的相关关系,建立向量自回归(VAR)模型和误差修正(VEC)模型,并运用脉冲响应函数和方差分解手段研究三者之间的长期动态相关性,分析结果表明:我国物质资本、人力资本和GDP之间存在长期的协整关系,短期内经济增长要依靠物质资本的大量投入,人力资本贡献相对较小,但从长期来看,人力资本对经济增长的贡献具有持续显著的效应。因此,我国应平衡物质资本与人力资本投资比例,加大对教育的投资,提高人力资本存量。%Modern economic growth theories display that human capital and physical capital both nave an important influence on economic growth. With inventory method and years of education calculation method of the physical capital stock and human capital stock, using cointegration and Granger causality test respectively, this article studies the relationship between human capital, physical capital and economic growth and then builds vector auto regression (VAR) model and error correction (VEC) model. What's more, it studies the long -term dynamics correlation between human capital, physical capital and economic growth by using impulse response functions and variance decomposition method. The analysis results showed that there is a long - term eointegration relationship between physical capital, human capital and GDP; in the short term economic growth depends a lot on investment in physical capital, but human capital contribution is relatively small; in the long run, the contribution of human capital to economic growth remains significant. Therefore, we should balance the physical capital and

  14. Employee coaching and counseling program metode alternatif untuk optimalisasi human capital pada pegawai aparatur sipil negara (ASN

    Directory of Open Access Journals (Sweden)

    Marina Sulastiana

    2017-06-01

    Full Text Available State Civil Servants Apparatus (ASN have to be more integrity, professional, neutral and capable to carrying out a public service to the community. It was an important one that can be optimized through development of human capital. Based on previous research investigated role of Human Capital towards Services and performance of Public Service, shows that staff and head divison level only has moderate degree of human capital. While, Emotional Capital was a most dominan aspect in Human Capital. Otherwise, Social Capital aspects results in the low level. It comes with consequences to optimized them through psychological intervention with group Employee Coaching and Counseling Program (ECCP. This study was action research, experimental one group preteset and postest design. The result shows that ECCP was contribute effectively to enhance Human Capital, particularly in Emotional Capital optimization.

  15. Inclusive Growth Through Creation of Human and Social Capital

    OpenAIRE

    Dinda, Soumyananda

    2011-01-01

    This paper analyses inclusive growth that focuses on the creation of opportunities for all. Inclusive growth allows people to contribute to and benefit from economic growth, while pro-poor growth approaches focusing on welfare of the poor only to reduce inequality. Recently, economics literature incorporates social capital for explaining regional disparities. Economic development of country depends on the impact of social capital which includes social culture, norms and regulations that promo...

  16. Analysis on Institutional Effectiveness of China's Stock Market Based on Capital Allocation Efficiency%基于资本配置效率的中国股票市场制度有效性分析

    Institute of Scientific and Technical Information of China (English)

    张璇

    2015-01-01

    This paper uses the efficiency of capital allocation to represent the institutional effectiveness of stock market.Through the panel data analysis,it empirically analyzes the capital allocation efficiency of China's stock market from the perspectives of industry and area in the period that China implements offering verification.The results show as follows:the capital allocation efficiency of stock market is low,and the realization degree of capital allocation function is not satisfying,and the stock market institutional is inefficient.Therefore,the institutional change of stock market requires the transition from government-oriented to market-oriented,and the punishment to those who violate the laws and discipline,and the cultivation for reasonable and mature investigators should be strengthened,thereby to realize the institutional function of stock market and improve institutional effectiveness better.%用资本配置效率表征股票市场制度有效性.使用面板数据分析方法,从行业和地区视角,对中国实行发行核准制度期间股票市场的资本配置效率进行了实证分析.结果表明:中国股票市场的资本配置效率较低,资本配置功能的实现程度较低,股票市场制度低效.指出:中国股票市场的制度变迁应由"政府主导"转变为"市场主导"、加大违规处罚力度、培育理性而成熟的投资者,从而更好地实现股票市场制度功能、提升制度有效性.

  17. A study on the effect of working capital management on profitability on Cement and Petrochemical industries: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Fatemeh Khaksarian

    2014-07-01

    Full Text Available This paper presents an empirical investigation to study the effect of working capital management on profitability on Cement and Petrochemical industries. The study uses the information of 24 firms from Cement industry and 19 firms from Petrochemical industry listed on Tehran Stock Exchange. There are two independent variables including the ratio of current assets on total assets as well as the ratio of current liabilities on total assets in this survey. In addition, there are two dependent variables including return on assets (ROA and Tobin’s Q. The study also considers firm size, sales’ growth, financial leverage, gross domestic product growth as control variables. Using stepwise regression technique, the study confirms a positive and meaningful relationship between working capital criteria and profitability. In addition, the study confirms that as the ratio of current assets to total assets increases, ROA and Tobin’s Q will be reduced, which means lower profitability would be resulted. In addition, as financial leverage increases, ROA in both industries will reduce while Tobin’s Q will increase in Cement industry and will reduce in Petrochemical industry.

  18. 76 FR 69030 - Delegation of Authority for the Office of the Chief Human Capital Officer

    Science.gov (United States)

    2011-11-07

    ..., overseeing and executing the Incentive Awards Program, providing training to managers and employees, and... departmental policy guidance for human capital management and programs, administering leadership and employee development programs, administering general and managerial skills training for Headquarters and field...

  19. ON THE ISSUE OF THE PROMOTION OF SOCIAL INNOVATION IN HUMAN CAPITAL OF OLDER WORKERS MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Lyudmila N. Ivanova-Schvets

    2015-01-01

    Full Text Available This article describes the promotion ofsocial innovation in human capital of olderworkers the management by employers. The article examines tools effects on various factors of competitiveness ofolder workers.

  20. The Significant Contribution of Indonesian Human Capital to the Economic Growth

    Directory of Open Access Journals (Sweden)

    C. Ruth Elisabeth Tobing

    2011-04-01

    Full Text Available This study examines the contribution of human capital to Indonesia’s productivity. The result of this study reveals a significant contribution of human capital as shown in the model which is using highest weighted of primary and secondary level of education. The most significant result found in the model using secondary level as the highest weighted of human capital. In contrast, there is no significant contribution of human capital using proportional weighted between education levels. This suggests that improvement in knowledge, adoption of technology and skill in the primary and secondary education meet the demand of industries in Indonesia. This study uses a time series regression to analyze data 1985-2010.

  1. Immigrants’ perception of business opportunities in Spain: the impact of general and specific human capital

    Directory of Open Access Journals (Sweden)

    Rocío Aliaga Isla

    2014-12-01

    Full Text Available Perceiving business opportunities is an important part of entrepreneurship. This study analyzes how immigrants’ general and specific human capital influences their likelihood of perceiving business opportunities. Analysis focuses on comparison between a group of immigrants and a group of Spanish citizens. Data from the 2008 Global Entrepreneurship Monitor (GEM was used. Logistic regression was used to analyze data. Results revealed that both immigrants’ and Spanish citizens’ human capital such as education is not significant to perceiving opportunities. Much to the contrary: the impact of specific human capital on perceiving opportunities is in general significant to both groups. This research reveals which specific types of human capital are relevant in the process of perceiving opportunities amongst immigrants. This paper is a novelty because it introduces a theoretical approach to the perception of opportunities within the universe of new businesses established by immigrants in Spain.

  2. LINGUISTIC PRESUMPTION AS THE BASIS OF THE VALIDITY OF THE HUMAN CAPITAL

    Directory of Open Access Journals (Sweden)

    Khalina, N.V.

    2016-06-01

    Full Text Available The article introduces the concept of a linguistic presumption – linguistic category of evaluation and measurement language skills of a person and validity of human capital in the system of modern economic and cultural communication.

  3. INDICATORS APPLIED TO HIGHLIGHT THE VALORIZATION OF HUMAN CAPITAL IN SHIPPING

    Directory of Open Access Journals (Sweden)

    FILIP NISTOR

    2016-06-01

    Full Text Available In recent years, the shipping companies reconsidered their position regarding the importance of human capital because of the new trend in shipbuilding in conjunction with the enforcement of tighter regulations in shipping. Increasing profit of shipping companies was the result of valorization of human capital on board ships through acquirement of new skills and knowledge in accordance with technologies implemented on the new ships by training and development. Thus, identification of indicators that can be used to highlight the valorization of human capital in shipping is helpful. Measurement of indicators presented in this article can assist decision makers in identifying the best courses of action to improve human capital in shipping.

  4. The Value of Human and Social Capital Investments for the Business Performance of Start-ups

    NARCIS (Netherlands)

    N. Bosma (Niels); M. van Praag (Mirjam); A.R. Thurik (Roy); G. de Wit (Gerrit)

    2002-01-01

    textabstractWe investigate the manifold posed question: "To what extent does investment in human and social capital, besides the effect of "talent", enhance entrepreneurial performance?". We distinguish between three different performance measures: survival, profits, and generated employment. On the

  5. Human capital, social capital and social exclusion: impacts on the opportunity of households with youth to leave poverty.

    Science.gov (United States)

    Wong, Hung

    2006-01-01

    Based on a sample survey, this paper, analyzes the impact of human capital, social capital and social exclusion on the opportunity of Hong Kong families with youth members to leave poverty. Educational attainment of the youth members and adult family members, as well as the quantity and quality of social networks were found to have significant positive impacts, while social exclusion from the labor market of the adult members was found to have significant negative impact on their opportunity to leave poverty. Among all factors, quality of social network is the most influential. The author suggests that in order to help families out of poverty and enable positive development of youth members, poverty alleviation policies or programs should be targeted to help the youth in poor families to build up a quality social network.

  6. Human Capital - A Quality Factor For The Competitiveness Of IT Companies

    Directory of Open Access Journals (Sweden)

    Elisei Crăciun

    2015-05-01

    Full Text Available This paper treats quality, human capital and competitiveness concepts in order to determine in which measure the Human Capital quality influences the competitiveness of a firm. The human capital theory is a relatively new approach, the first valuable approach being that of Garry Becker which, subsequent of the modern management theoretical views, puts human capital into scientific frame. This present paper relates deeply on this theoretical frame as it is considered that, besides financial or tangible resources that allows and generate long term benefits for an enterprise, there is also another source that consists in an intangible form: the human capital. This resource is based on education and health, indirectly generating additional benefits for the individual as for the organization and is calculated as instruction, education and health insurances costs. That implies that this capital is an asset for the worker itself and that the worker cannot be distinguished from the knowledges, capacities, his health or his values. From this perspective, the worker is actively present in any activity a firm operates: from defining and executing process, operational planning, monitoring and control, research and development, human resources, etc. The hypothesis of this present paper will be explored with the examples of Jeff Bezos ( Amazon or Steve Jobs ( Apple as human capital is considered to be the most important component for the competitive advantage of IT enterprises. The quality level of the human capital represents the main source for long term sustainability of this competitive advantage and, given the best case practices, it’s impact on firm’s effect indicators is obvious. The paper will also emphasize the role of values and health as they are also the main issues on an IT enterprise. The article is structured in two parts. One is the theoretical frame that encompass the influence of the human capital on the competitiveness of the firm. The

  7. A Two-Sector Growth Model with Endogenous Human Capital and Amenities

    Directory of Open Access Journals (Sweden)

    Wei-Bin Zhang

    2009-01-01

    Full Text Available This paper examines issues related to urbanization with labour migration. The main departures from the traditional approaches to dynamics of economic structures are that the paper uses an alternative approach to consumer behaviour and introduces human capital accumulation via learning by doing. The model describes dynamic interactions among agricultural and industrial production, rural and urban amenities, distribution of production factors and preferences with endogenous capital and human capital accumulation. We show that the dynamic system may have either a single or multiple equilibrium points, depending upon returns to scale in the two sectors. We also examined effects of changes in some parameters.

  8. International migration, economic policy and human capital accumulation: a simulation study.

    Science.gov (United States)

    Van Dalen, H P

    1993-10-01

    "This paper examines the economic policy implications of international migration and human capital accumulation within a dynamic general equilibrium model. Each country produces by means of physical and human capital of two types (skilled and unskilled labour). Along optimal growth paths in a world of diverging population growth rates immigration can only be beneficial when the free rider effect (i.e., not paying for training costs) exceeds the capital dilution effect of an increase in population growth. Under quite general conditions the optimal immigration rate is zero."

  9. A large-scale field assessment of carbon stocks in human-modified tropical forests.

    Science.gov (United States)

    Berenguer, Erika; Ferreira, Joice; Gardner, Toby Alan; Aragão, Luiz Eduardo Oliveira Cruz; De Camargo, Plínio Barbosa; Cerri, Carlos Eduardo; Durigan, Mariana; Cosme De Oliveira Junior, Raimundo; Vieira, Ima Célia Guimarães; Barlow, Jos

    2014-12-01

    Tropical rainforests store enormous amounts of carbon, the protection of which represents a vital component of efforts to mitigate global climate change. Currently, tropical forest conservation, science, policies, and climate mitigation actions focus predominantly on reducing carbon emissions from deforestation alone. However, every year vast areas of the humid tropics are disturbed by selective logging, understory fires, and habitat fragmentation. There is an urgent need to understand the effect of such disturbances on carbon stocks, and how stocks in disturbed forests compare to those found in undisturbed primary forests as well as in regenerating secondary forests. Here, we present the results of the largest field study to date on the impacts of human disturbances on above and belowground carbon stocks in tropical forests. Live vegetation, the largest carbon pool, was extremely sensitive to disturbance: forests that experienced both selective logging and understory fires stored, on average, 40% less aboveground carbon than undisturbed forests and were structurally similar to secondary forests. Edge effects also played an important role in explaining variability in aboveground carbon stocks of disturbed forests. Results indicate a potential rapid recovery of the dead wood and litter carbon pools, while soil stocks (0-30 cm) appeared to be resistant to the effects of logging and fire. Carbon loss and subsequent emissions due to human disturbances remain largely unaccounted for in greenhouse gas inventories, but by comparing our estimates of depleted carbon stocks in disturbed forests with Brazilian government assessments of the total forest area annually disturbed in the Amazon, we show that these emissions could represent up to 40% of the carbon loss from deforestation in the region. We conclude that conservation programs aiming to ensure the long-term permanence of forest carbon stocks, such as REDD+, will remain limited in their success unless they effectively

  10. Human capital growth in a cross section of U.S. metropolitan areas

    OpenAIRE

    Wheeler, Christopher H.

    2005-01-01

    Growth of human capital, defined as the change in the fraction of a metropolitan area's labor force with a bachelor's degree, is typically viewed as generating a number of desirable outcomes, including economic growth. Yet, in spite of its importance, few empirical studies have explored why some economies accumulate more human capital than others. This paper attempts to do so using a sample of more than 200 metropolitan areas in the United States over the years 1980, 1990, and 2000. The resul...

  11. EMPIRICAL REFLECTIONS ON MIGRATION PHENOMENON. MAJOR EFFECTS OF MIGRATION ON THE HUMAN CAPITAL

    OpenAIRE

    Simona BUTA; Rozalia Iuliana KICSI

    2013-01-01

    The paper Empirical reflections on migration phenomenon. Major effects of migration on the human capital analyzes the migration flows of the workforce (as part of the human capital) globally/regionally, especially the highly qualified workforce migration. The qualified manpower processes of attracting on the work market have not been always well understood and, in some cases, have generated a series of difficulties. This is the reason why we will focus on the „waste of brains” phenomenon, whi...

  12. Economic Growth—Human Capital Nexus in Post-Soviet Ukraine, 1989-2009

    OpenAIRE

    Osipian, Ararat

    2008-01-01

    This book presents theoretical and empirical investigation of economic growth and the possible impact of human capital on economic growth in Ukraine, the Russian Federation, Poland, and Hungary during the period of 1989-2009. This research defines place and role of human capital in the process of transition from the exogenous to the endogenous forms of growth and socio-economic development. It research presents an extended statistical analysis of transition economies. Substantial part of the ...

  13. Human Capital as Source for Sustained Competitive Advantages in SMEs: A Core Competencies Approach

    OpenAIRE

    Carlos M. F-JARDON; Miguel GONZALEZ-LOUREIRO

    2013-01-01

    Human capital is a source of competitive advantage, since it helps to build core competencies which position the company above its competitors. Core competencies are dynamic competencies of superior hierarchy, which integrate, build and reconfigure internal and external factors of business to create value. Core competencies are competitive advantages when an organization gets better performance than competitors. Human capital is source of competitive advantage but it possibly does not directl...

  14. THE HUMAN CAPITAL APPROACH AND ITS APPLICABILITY TO ENTREPRENEURSHIP RESEARCH: AN EMPIRICAL EXAMINATION

    OpenAIRE

    García Lillo, Francisco; Marco Lajara, Bartolomé

    2002-01-01

    The concept of human capital is implicit' in many empirical studies of both survival and success chances of new businesses. These studies investigate the effects of the founder's education, career history, family, occupational background, and so on. However, few studies make explicit their connection to the framework of human capital theory in entrepreneurship research. The current study attempts to fill this gap in the literature by examining from this perspective, how factors such as achi...

  15. THE SEAFARERS’ HUMAN CAPITAL VARIABLES AND THE CREW PROFILE DYNAMIC ADJUSTMENT

    OpenAIRE

    Popa, Catalin; Filip NISTOR; Imre RECZEY; David QUANSAH

    2016-01-01

    The human capital is one of the most relevant functional dimensions of the maritime transportation business, considering the seaborne particularities in the crossing countries, cultures and heterogeneous environment as onboard the maritime vessels. The nowadays great competitiveness in this area of transportation services has encouraged many companies to pursue new ways to maintain a competitive advantage, valuing its human capital. Thus, in spite of the propensity for standardisation in fiel...

  16. The Way to Improve the Human Capital in the Rural and Pastoral Area in Tibet

    Institute of Scientific and Technical Information of China (English)

    Tianping; LIU; Lianjiu; SONG

    2013-01-01

    The human capital in the rural and pastoral area in Tibet is scarce at present and the investment in human capital faces many difficulties. It is urgent to optimize the education structure, intensify professional training, cultivate the transferring of labor force and pay attention to the child care. The fundamental measure is to establish the concept of "being equipped with the ability to study, work and to be rich", and is to carry out "fundamental education and agricultural education".

  17. ESTIMATION OF CURRENT AND PERSPECTIVE ACCUMULATION LEVELOF NATIONAL HUMAN CAPITAL IN RUSSIA

    Directory of Open Access Journals (Sweden)

    Баранова, Н.М.

    2016-10-01

    Full Text Available The article analyzes the main indicators of the knowledge economy in some countries, determining the economic condition of the state. In the "Concept 2020" long-term Russian development a large role human capital as a key factor of long-term sustainable economic growth. Examining the relationship between level of education and income of the individual obtained in the course of life. Examining the main engines of development of human capital and providing estimates of its accumulation.

  18. Life-Cycle Labor Supply with Human Capital: Econometric and Behavioral Implications

    OpenAIRE

    Michael P. Keane

    2015-01-01

    I examine the econometric and behavioral implications of including human capital in the life-cycle labor supply model. With human capital, the wage no longer equals the opportunity cost of time – which is, instead, the wage plus returns to work experience. This has a number of important implications, of which I highlight four: First, labor supply elasticities become functions of both preference and wage process parameters. Thus, one cannot estimate elasticities without also specifying and est...

  19. Capital Market Effects of the IFRS Adoption for Separate Financial Statements: Evidence from the Italian Stock Market

    OpenAIRE

    Palea Vera

    2013-01-01

    Using a sample of Italian firms, I investigate whet her separate financial statements are useful to capital market investors and IFRS are more value-relevant than domestic GAAP. I find significant differences in value-relevance between Italian GAAP and IFRS, with IFRS being more informative than Italian GAAP. However, while results are robust for book value, they provide mixed evidence on net income. I also investigate the value-relevance of separate financial statements under IFRS relative t...

  20. To a Question of Research Team’s Human Capital Estimation

    Directory of Open Access Journals (Sweden)

    Sergey A. Aivazyan

    2016-03-01

    Full Text Available The approach based on the concept of stochastic frontier, to assessing of research team’s human capital, performing research with the financial support of the Science Foundation. The relevance of the problem is determined by the expansion of the use of competitive basis funding for research. As an estimate of research team’s human capital accepted the potential size of the financing in terms of effective use of research team’s human capital. Presents an econometric model, allowed to obtain estimates of the efficiency of research team’s human capital, have received financial support fund for scientific research. As a measure of efficiency is considered matching the size of the financial support of his research team characteristics of human capital. Formulated statistical hypothesis, test results which can be used to improve the competitive application forms and expert profiles, used the fund. It is noted, that when checking the hypothesis of no inefficiency of research team’s human capital, should be used the machine of copula functions, expanding the scope of the stochastic frontier methodology at the expense of rejection of the assumption of independence of the random components of the econometric model and allowing a correct estimates of the efficiency in terms of their dependence.

  1. Human Capital as a Binding Constraint to Economic Growth: The Case of Macedonia

    Directory of Open Access Journals (Sweden)

    Darko Lazarov

    2016-06-01

    Full Text Available The main objective of the paper is to explore the assumption if the lack of skilled and well-educated workforces (human capital holds a potential of a binding constraint to economic growth of the Macedonian economy. Not neglecting growth econometrics’ insights for the investigation of the relationship between human capital and economic growth, the work is primarily based on a growth diagnostic approach. The empirical techniques used in this paper are: growth accounting decomposition production method; macro and micro assessment of the return rate on investment in human capital; and, comparative benchmark analysis concerns with regard to unemployment distribution according to education and age structure and companies’ perceptions about the quality of workforce. The estimated results indicate an important contribution of human capital to economic growth (its relative contribution in terms of growth rate composition is approximately 22 percent. The macro and micro assessment of the rate of return on investment in human capital shows that the rate of return to higher education is significantly superior to corresponding returns to secondary education. Finally, the international benchmark analysis helps in comparative human capital impact analysis (educational structure of labor force in the wider region. Predominantly, it is based on educational structure, unemployment distribution and the companies’ perception about the quality of the workforce.

  2. Factors of human capital related to project success in health care work units.

    Science.gov (United States)

    Suhonen, Marjo; Paasivaara, Leena

    2011-03-01

    To explore factors of human capital related to project success that employees expect from nurse managers. Human capital refers to those resources that managers working with projects possess, such as abilities, knowledge and qualities of character. The data were collected by open interviews (n=14) with nurses, public health nurses and nurse managers working in primary health care and a hospital. Data analysis was carried out using qualitative content analysis. The main factors of human capital related to project success proved to be as follows: (1) management of enthusiastic project culture, (2) management of regeneration and (3) management of emotional intelligence. Future research is needed on the kind of means nurse managers use in human capital management in projects and how they see their possibilities in managing human capital. Human capital management skills should be underlined as an important competence area when recruiting a nurse manager. The success of health care projects cannot be improved only through education or by training of nurse managers; in addition, projects need nurse managers who understand workplace spirituality and have high emotional intelligence. © 2011 The Authors. Journal compilation © 2011 Blackwell Publishing Ltd.

  3. Essays on the economics and econometrics of human capital

    Science.gov (United States)

    Mosso, Stefano

    This thesis is composed by three distinct chapters. They are related by their common theme: the economic analysis of the process of human capital formation. The first chapter distills and extends the recent research on the economics of human development and social mobility. It critically analyzes the literature on the role of early life conditions in shaping multiple life skills with emphasis on the importance of critical and sensitive investments periods in influencing skill development. It develops economic models that rationalize the empirical evidence on treatment effects of social programs and on family influence. It investigates the empirical support of recent claims, made by part of the literature, on the relevance of credit constraints in limiting skill development. It shows how credit constraints are not a major force explaining differences in the amount of parental and self-investments in skills and how untargeted income transfer policies to poor families do not significantly boost child outcomes. The second chapter compares the performance of maximum likelihood and simulated methods of moments in estimating dynamic discrete choice models. It presents a structural model of education and shows how it can be used to estimate heterogeneous returns from schooling choices which account for their continuation values. Continuation values have a large impact on returns, but are ignored in the measures commonly used to assess the value of schooling choices. The estimates from the model are used to compute a synthetic dataset. This is used to assess the ability of maximum likelihood and simulated methods of moments to recover the model parameters. It finally proposes a Monte Carlo exercise to gain confidence on the performance of a simulated method of moments algorithm. The last chapter proposes a method to assess long run impacts on earnings of early interventions even in absence of long-term data collection on earnings histories for program participants. It

  4. Immigrant self-employment : testing hypotheses about the role of origin- and host country human capital and bonding and bridging social capital

    NARCIS (Netherlands)

    Kanas, A.M.; Tubergen, F.A. van; Lippe, T. van der

    2009-01-01

    Using large-scale data on immigrants in the Netherlands, the authors tested competing arguments about the role of origin- and host-country human capital and bonding and bridging social capital in immigrants’ self-employment. When taking job-skill level into account, immigrants with a higher level of

  5. Immigrant self-employment : testing hypotheses about the role of origin- and host country human capital and bonding and bridging social capital

    NARCIS (Netherlands)

    Kanas, A.M.; Tubergen, F.A. van; Lippe, T. van der

    2009-01-01

    Using large-scale data on immigrants in the Netherlands, the authors tested competing arguments about the role of origin- and host-country human capital and bonding and bridging social capital in immigrants’ self-employment. When taking job-skill level into account, immigrants with a higher level of

  6. Immigrant self-employment: Testing hypotheses about the role of origin- and host-country human capital and bonding and bridging social capital

    NARCIS (Netherlands)

    Kanas, A.M.; Tubergen, F.A. van; Lippe, A.G. van der

    2009-01-01

    Using large-scale data on immigrants in the Netherlands, the authors tested competing arguments about the role of origin- and host-country human capital and bonding and bridging social capital in immigrants' self-employment. When taking job-skill level into account, immigrants with a higher level of

  7. Investing in human and natural capital. An alternative paradigm for sustainable development in Awassa, Ethiopia

    Energy Technology Data Exchange (ETDEWEB)

    Reynolds, Travis W. [Evans School of Public Affairs, University of Washington, Seattle, Washington, 98195 (United States); Farley, Joshua [Gund Institute for Ecological Economics and Department of Community Development and Applied Economics, University of Vermont, Burlington, Vermont, 05405 (United States); Huber, Candice [UVM Agricultural Extension Service, University of Vermont, Burlington, Vermont, 05405 (United States)

    2010-09-15

    Ethiopia remains underdeveloped due to limitations in natural, human, social and built capital. A 2006 scientific atelier conducted in the city of Awassa, Ethiopia investigated investments in human and natural capital as a sustainable development strategy. Local stakeholders identified firewood shortages, degradation of croplands, rising lake levels encroaching on croplands and poor water quality as major impediments to development. They further identified ecological degradation as a key component of these problems, and they acknowledged multiple vicious cycles compounding the environmental and economic threats to the Awassa community. Proposed solutions included investment in natural capital in the form of reforestation activities, investment in human capital in the form of promoting more efficient wood stoves along with increasing public awareness of environmental threats, and investments in social capital in the form of inter-institutional coordination to address environmental problems. All recommended investments rely primarily on national resources, in distinct contrast to the extensive imports required for most built capital investments. Unfortunately, Awassa lacks the surplus necessary for major capital investments of any kind. The atelier therefore helped local participants identify potential funders and write grant proposals for various projects, though none have been funded so far. Reversing the ecological degradation on the scale necessary for sustained economic development in Ethiopia however will require a steady flow of substantial investments, and cannot rely solely on the short term generosity of funders. International payments for carbon sequestration and other ecosystem services could help provide the necessary resources. (author)

  8. Taking Human Capital Seriously: Talented Teachers in Every Classroom, Talented Principals in Every School. Principles and Recommendations for the Strategic Management of Human Capital in Public Education

    Science.gov (United States)

    Consortium for Policy Research in Education, 2009

    2009-01-01

    The Strategic Management of Human Capital in Education Project was founded in 2008 with one goal: to improve student achievement dramatically in the 100 largest urban school districts. Unless teaching quality and principal leadership improve significantly, lasting education improvement is impossible. In policy terms, without "strategic management"…

  9. Health Consumption, Health Human Capital, and Economic Growth%健康型消费、健康人力资本和经济增长

    Institute of Scientific and Technical Information of China (English)

    钟若愚; 林滨

    2014-01-01

    消费是健康人力资本积累的主要途径,但此前对经济增长与健康人力资本之间关系的研究,没有考虑消费的健康类型对健康人力资本积累的影响。在拉姆齐模型基础上构建包含健康人力资本和最终产品的两部门模型,将消费区分为健康型消费和非健康型消费,分析健康型消费份额对经济增长的影响。对模型的分析表明:均衡状态时的人均消费、人均资本存量和健康人力资本存量都与健康型消费份额成正比。该结论有助于解释富国具有高健康消费份额,而穷国相反;对穷国的健康援助,有助于其摆脱贫困状态。将政府税收纳入模型后发现,税收不影响均衡状态时的健康型消费份额,但降低均衡状态水平。%Consumption is the main way of health human capital accumulation, but previous studies on the relationship between economic growth and health human capital fail to consider the impact of different types of consumption on health human capital accumulation. Dividing consumption into health and non -health consumption, this study analyses the impact of the share of health consumption on economic growth by constructing two-sector model that contains health human capital and the final product in the Ramsey model. We find that per capita consumption, per capita capital stock and per capita human health capital stock are directly proportional to the share of health consumption in total consumption. This conclusion helps to explain why rich countries have a higher share of health consumption, while the poor ones lower; and health assistance to poor countries can help them get rid of poverty. With taxation factored in, we find that taxation does not affect the share of health consumption, but it lowers the equilibrium level.

  10. Analisis Pengaruh Human Capital Terhadap Kinerja Perusahaan (Studi Empiris pada Kantor Akuntan Publik di Indonesia

    Directory of Open Access Journals (Sweden)

    Martina Dwi Puji Astri Ongkorahardjo

    2008-01-01

    Full Text Available Human capital is of the intellectual capital components owned by a company. This study evaluates if individual capability and organizational climate affect business performance partially and simultaneously. We use public accounting firms as our subjects.. Our study shows that individual capability and organizational climate respectively influence performance in public accounting firms. Additionally, these two factors simultaneously affect performance. Overall individual capability shows stronger relationship to performance compared to organizational climate. Abstract in Bahasa Indonesia: Human capital sebagai salah satu komponen utama dari intellectual capital (intangible asset yang dimiliki oleh perusahaan. Penelitian ini menggunakan obyek kantor akuntan publik Penelitian ini berusaha menguji apakah individual capability dan the organizational climate yang merupakan komponen dari human capital memiliki pengaruh yang signifikan terhadap kinerja perusahaan kantor akuntan publik baik secara individual (parsial maupun secara simultan. Hasil penelitian menunjukkan bahwa pertama, individual capability berpengaruh signifikan terhadap kinerja kantor akuntan publik. Kedua, the organizational climate berpengaruh signifikan terhadap kinerja kantor akuntan publik. Ketiga, individual capability dan the organizational climate berpengaruh signifikan secara bersama-sama terhadap kinerja kantor akuntan publik. Pengujian juga membuktikan bahwa individual capability adalah variabel yang mempunyai pengaruh paling besar terhadap kinerja kantor akuntan publik. Kata kunci: Human capital, individual capability, the organizational climate.

  11. Uncovering configurations of HRM service provider intellectual capital and worker human capital for creating high HRM service value using fsQCA

    NARCIS (Netherlands)

    Meijerink, Jeroen Gerard; Bondarouk, Tatiana

    Although traditionally applied independently, this study combines two theoretical perspectives – the intellectual capital theory and the consumer perspective – to uncover value-creating configurations of human resource management (HRM) service providers' and workers' knowledge resources. We examined

  12. Drivers of occupational human capital: identifying and developing research productivity in the globalized business school Industry

    OpenAIRE

    Ryazanova, Olga

    2015-01-01

    This thesis looks at the antecedents of research productivity in business schools as part of a wider conversation on the development of occupational human capital in knowledge-intensive industries. Building upon the social capital and sociology of science literatures, the present study seeks to advance this conversation in two ways. First, it focuses on the consequences of academic researchers’ early-career and mid-career choices by exploring the interplay between organizational scripts and i...

  13. Causalidade entre os retornos de mercados de capitais emergentes e desenvolvidos Causality between stock return rates: emerging versus developed capital markets

    Directory of Open Access Journals (Sweden)

    Wagner Moura Lamounier

    2007-04-01

    Full Text Available Utilizando-se de instrumentais estatísticos para a análise de séries temporais, procurou-se verificar as relações entre os retornos dos principais mercados de capitais emergentes e dos principais mercados desenvolvidos. A amostra foi divida em dois períodos: entre 1995-2002 e entre 2003-2005, tendo em vista os momentos distintos dos mercados quanto à vulnerabilidade externa. No primeiro momento, apesar das diversas crises econômicas, verificou-se que apenas o retorno do mercado emergente da Rússia sofreu grandes impactos ante os choques dos retornos dos outros mercados. Entre 2003-2005, no entanto, os retornos de outros mercados emergentes, como o do Brasil e o do México, responderam de forma significativa aos choques nos retornos dos demais mercados analisados.Using statistical instruments for the analysis of time series, - this work aims to verify the relation of returns of stock investments between the main emerging and the developed capital markets. The sample was divided in two periods: 1995-2002 and 2003-2005, in view of their different external vulnerability moments. At the beginning, - in spite of - several economic crises, only Russia’s stock market returns - suffered great impacts, compared with those at other markets’. Between 2003-2005, however, the returns of other emerging markets, as Brazil’s and Mexico’s, answered in a more significant form to the shocks in the returns of other markets.

  14. Human capital and its spatial distribution as limiting factors for the balanced development of Serbia

    Directory of Open Access Journals (Sweden)

    Jokić Vesna

    2015-01-01

    Full Text Available Human capital is one of the key factors of economic and social development. Namely, the growth potential of a territory is largely dependent on human capital that is, on citizen’s creative potential and especially on their education. Society with a better endowment of human capital has a greater development potential. The subject of this paper is Serbia’s human capital seen from the point of view of workforce education structure (20-64 age group. In this paper we present spatial distribution of workforce, i.e. the differences in workforce education levels and polarization of Serbian territory in terms of human capital pool. The result is a typology of municipalities in Serbia based on calculated values of average completed education level - the EMN index. Mapping of the corresponding values was done at the municipality level in order to get a clear distinction and a more accurate picture of spatial disparities in human resources. [Projekat Ministarstva nauke Republike Srbije, br. III47014: The Role and Implementation of the National Spatial Plan and Regional Development Documents in Renewal of Strategic Research, Thinking and Governance in Serbia

  15. The impact of intellectual capital disclosure on cost of equity capital: A case of French firms

    Directory of Open Access Journals (Sweden)

    Mohamed Ali Boujelbene

    2013-06-01

    Full Text Available The purpose of this paper is to examine empirically the impact of intellectual capital disclosure (IC on cost of Equity capital. The empirical research is based on companies listed in the French SBF 120 stock market index. The findings confirm our hypotheses that stipulate the existence of a significant and negative association between intellectual capital disclosure with its two components (human capital, structural and the cost of equity. However, the negative impact of the relational capital disclosure is not validated. The results in this paper are of considerable importance to both policy makers and firms. In fact, the understanding of the impact of Intellectual capital disclosure on cost of equity capital helps policy makers in the evaluation of the costs and benefits of disclosure. Moreover, with regard to managers of firms, the results show the benefit of enhanced IC disclosure regarding the reduction in their cost of capital. This study is one of the very first to provide empirical evidence of the association between Cost of equity capital and the level of disclosure in the three individual intellectual capital categories (human; structural and relational capital.

  16. An Empirical Research on the Correlation between Human Capital and Career Success of Knowledge Workers in Enterprise

    Science.gov (United States)

    Guo, Wenchen; Xiao, Hongjun; Yang, Xi

    Human capital plays an important part in employability of knowledge workers, also it is the important intangible assets of company. This paper explores the correlation between human capital and career success of knowledge workers. Based on literature retrieval, we identified measuring tool of career success and modified further; measuring human capital with self-developed scale of high reliability and validity. After exploratory factor analysis, we suggest that human capital contents four dimensions, including education, work experience, learning ability and training; career success contents three dimensions, including perceived internal competitiveness of organization, perceived external competitiveness of organization and career satisfaction. The result of empirical analysis indicates that there is a positive correlation between human capital and career success, and human capital is an excellent predictor of career success beyond demographics variables.

  17. The Role Of Human Capital In The Competitive Platform Of South African Industries

    Directory of Open Access Journals (Sweden)

    E. P. J. Kleynhans

    2006-11-01

    Full Text Available The objective of this study was to investigate the role of human capital in the competitive platform of South African industries and to determine the ability of their human capital to address the challenges of modern technology and globalisation. Attention is given to the competitive strengths and investment opportunities, including the quality and availability of human resources, labour cost, level of education and skills, vocational and industry related training facility, work ethics, productivity, workplace regulations, as well as efficiency of the civil service; including productivity and competitiveness indexes. The study found that the level of human capital in South African industries is much higher than the general perception and not the worst element of South Africa’s competitive platform. The findings also indicated challenges, like absentees due to AIDS and other factors, a shortage of artisans and proficiency towards modern technology and innovation, which limits competitiveness.

  18. Undergraduate students' development of social, cultural, and human capital in a networked research experience

    Science.gov (United States)

    Thompson, Jennifer Jo; Conaway, Evan; Dolan, Erin L.

    2016-12-01

    Recent calls for reform in undergraduate biology education have emphasized integrating research experiences into the learning experiences of all undergraduates. Contemporary science research increasingly demands collaboration across disciplines and institutions to investigate complex research questions, providing new contexts and models for involving undergraduates in research. In this study, we examined the experiences of undergraduates participating in a multi-institution and interdisciplinary biology research network. Unlike the traditional apprenticeship model of research, in which a student participates in research under the guidance of a single faculty member, students participating in networked research have the opportunity to develop relationships with additional faculty and students working in other areas of the project, at their own and at other institutions. We examined how students in this network develop social ties and to what extent a networked research experience affords opportunities for students to develop social, cultural, and human capital. Most studies of undergraduate involvement in science research have focused on documenting student outcomes rather than elucidating how students gain access to research experiences or how elements of research participation lead to desired student outcomes. By taking a qualitative approach framed by capital theories, we have identified ways that undergraduates utilize and further develop various forms of capital important for success in science research. In our study of the first 16 months of a biology research network, we found that undergraduates drew upon a combination of human, cultural, and social capital to gain access to the network. Within their immediate research groups, students built multidimensional social ties with faculty, peers, and others, yielding social capital that can be drawn upon for information, resources, and support. They reported developing cultural capital in the form of learning to

  19. Undergraduate students' development of social, cultural, and human capital in a networked research experience

    Science.gov (United States)

    Thompson, Jennifer Jo; Conaway, Evan; Dolan, Erin L.

    2015-04-01

    Recent calls for reform in undergraduate biology education have emphasized integrating research experiences into the learning experiences of all undergraduates. Contemporary science research increasingly demands collaboration across disciplines and institutions to investigate complex research questions, providing new contexts and models for involving undergraduates in research. In this study, we examined the experiences of undergraduates participating in a multi-institution and interdisciplinary biology research network. Unlike the traditional apprenticeship model of research, in which a student participates in research under the guidance of a single faculty member, students participating in networked research have the opportunity to develop relationships with additional faculty and students working in other areas of the project, at their own and at other institutions. We examined how students in this network develop social ties and to what extent a networked research experience affords opportunities for students to develop social, cultural, and human capital. Most studies of undergraduate involvement in science research have focused on documenting student outcomes rather than elucidating how students gain access to research experiences or how elements of research participation lead to desired student outcomes. By taking a qualitative approach framed by capital theories, we have identified ways that undergraduates utilize and further develop various forms of capital important for success in science research. In our study of the first 16 months of a biology research network, we found that undergraduates drew upon a combination of human, cultural, and social capital to gain access to the network. Within their immediate research groups, students built multidimensional social ties with faculty, peers, and others, yielding social capital that can be drawn upon for information, resources, and support. They reported developing cultural capital in the form of learning to

  20. Human capital identification process: linkage for family medicine and community medicine to mobilize the community.

    Science.gov (United States)

    Tanasugarn, Chanuantong; Thongbunjob, Krid

    2012-06-01

    Community diagnosis and approach has shifted from a professional focus to a community focus. The information system has also been developed to reflect socio-cultural information. This new system has been established throughout the country and is being recorded in the computer system. However these data still lack human capital information to promote community mobilization. The present study aims to develop a process which reflects human capital from the insider and outsider points of view and which builds on the existing work system of primary care service, family medicine, and community medicine. The present study applies the participatory action research design with mixed methods including community grand-tour, household survey socio-metric questionnaire and focus group discussion in order to gather insider view of human capital. A key instrument developed in the present study is the socio-metric questionnaire which was designed according to the community grand tour and household survey results. The findings indicate that the process is feasible and the insider point of view given a longer evidence based list of the human capital. The model enhanced a closer relationship between professional and community people and suggested the realistic community mobilizer name list. Human capital identification process is feasible and should be recommended to integrate in the existing work process of the health staff in family and community practice.