Globalization is multifaceted and involves the interaction among businesses, services, governments, and societies beyond national borders. As a result, the flow of foreign direct investment, international trade in goods and services, and the economic interdependence of the nations of the world have been increasing. At the same time, much attention has been paid to the effect of corruption prevalent within many cultures and societies, and its impact on the economies, especially developing economies. This paper examines the relationship between (...) class='Hi'>human capital investment, the level of national corruption, and the global economic integration of a nation in developing countries. Based on the data collected from over 60 countries, and building on the FDI and human capital theories, it was found that human capital investment and corruption are related to GEI. It was also found that the level of corruption moderates the relationship between human capital investment and GEI of developing economies. The findings of the study can help to deepen our understanding of GEI and have practical implications for developing countries in terms developing human capital, which plays a critical role in today’s knowledge-based economy. (shrink)

This article takes Viviana Zelizer’s (1985) Pricing the Priceless Child to the new millennium. Zelizer documented the transformation between the 19th and 20th century from an “economically useful” to an “emotionally priceless” child. She observed that by the 1930s, American children were practically economically worthless but invested with significant emotional value. What has happened to this emotionally priceless child at the dawn of the new millennium? Has there been a new transformation in the social value of children, and, if so, (...) what might have such a transformation entailed? To address these questions, we examine overtime trends that point to increasing devotion of resources and time to children’s education, a key input in the exceedingly influential human capital theory, which connects investment into children’s human capital with their future market value. Therefore, we argue that the priceless child 2.0 is a useful-to-be human capital investment child. We use four empirical examples of overtime growth in children’s human capital investment: (a) enrollments in early childhood education, (b) federal spending on early education, (c) federal spending on K-12 programs, and (d) parental spending on child care, education and extracurricular activities. In the conclusion, we discuss some potential consequences and concerns about raising children as human capital investment. (shrink)

Making investment decisions is usually considered a challenging task for investors because it is a process based on risky, complex, and consequential choices. When it comes to Investments in human capital, such as startups fundings, the aspect of decision-making becomes even more critical since the outcome of the DM process is not completely predictable. Indeed, it has to take into consideration the will, goals, and motivations of each human actor involved: those who invest as well as (...) those who seek investments. We define this specific DM process as multi-actor DM since not a group is making decisions but different actors, or groups of different actors, who – starting from non-coinciding objectives – need to reach a mutual agreement and converge toward a common goal for the success of the investment. This review aims to give insights on psychological contributions to the study of complex DM processes that deal with IHC to provide scholars and practitioners with a theoretical framework and a tool for describing the complex socio-ecological systems involved in the DM processes. For this purpose, we discuss in the paper how the third generation of activity theory could be used as an appropriate model to explain the specificities of MADM construct, focusing on the particular case of startup funding. Design thinking techniques will be proposed as a methodology to create a bridge between different activity systems. (shrink)

As the aging population problem intensifies, many emerging economies are caught in labor shortage and rising labor costs, thus improving the corporate labor investment efficiency is crucial for these countries. In this context, we take China as an example to explore the influence of the current booming digital finance on corporate LIE. This paper, which enriches the existing literature, is one of the few studies that explores the link between macroeconomic policies and firms’ LIE. Our research adopts the baseline (...) methodology of ordinary least squares regression, and the data comprise 23,503 observations for Chinese A-share listed businesses from 2011 to 2020. In addition, we use fixed effects regression, instrumental variables method and substitution of independent variables to deal with endogeneity and test the robustness. The outcomes suggest that DF may significantly increase corporate LIE. Further results from the path mechanism study suggest that DF could alleviate financing constraints and optimize human capital structure, both of which have a favorable effect on the LIE. Last but not least, the heterogeneity results imply that DF can more effectively encourage LIE of firms in economically underdeveloped regions and of private nature. The study recommends that emerging economies should pay attention to strengthening regulation to avoid financial risks while vigorously promoting DF. In addition, enhancing the level of human capital and optimizing human capital allocation are also essential. (shrink)

The article deals with theoretical aspects of human capital, features of human capital, problems and prospects of human capital in modern conditions. Problems and challenges of ontology and functioning of human capital in postmodern society are outlined. The current state of investment in the reproduction of human capital and its development was assessed. One of the ways to increase human capital is to invest in people, their health (...) and education. The article substantiates the role and importance of investments in human capital at the family level. The sharp increase in interest in the creative abilities of a person and in the ways of their formation and development confirm the obtained results. The international significance of the article lies in the objectification of the problems of human capital in developing countries, taking into account the global industrial, cultural and social context. In order to optimize human capital management on the verge of the postmodern and post-post era, these research results can help in the development of scientific, public and government programs and activities. (shrink)

Philanthropic venture capital, like traditional venture capital, provides funding and value-added services to a portfolio of entrepreneurial firms. However, TVC differs from PhVC, as the primary goal of TVC is to maximize the economic return of its investments. In contrast, PhVC firms expect their portfolio companies to perform well in terms of both social and economic returns. Using both American and European firms, this paper explores and compares the human capital in PhVC and TVC firm founders. (...) Our results show that there are key differences in both general and specific human capital between these firm types. While both TVC and PhVC firm founders have high levels of commercial experience, TVC firm founders tend to hold degrees in science, engineering, business, and law more frequently than PhVC firm founders. PhVC founders also differ from TVC founders by having greater work experience in the social sector. (shrink)

This paper offers novel insight into the Islamic banking business model by considering the effect of investments in human capital and corporate governance features on the market performance of Islamic banks. Based on a sample of 47 banks operating in different regions during the 2005–2010 period, and controlling for firm-specific characteristics, this paper finds investments in human capital to have a significant positive impact on the market value in the pre- and post-financial crisis period. Based on (...) a market measure, this paper finds board size and CEO power to have a significant positive impact, while the size of Shariah Supervisory Board has the opposite effect on market performance. The results further reveal that the Islamic banking sector is not a homogeneous group, with full-fledged Islamic banks having lax corporate governance mechanisms and large size, while their counterparts, Islamic Shariah-windows, having strong corporate governance mechanisms tend to invest more in human capital to yield positive market value. Overall, the analysis suggests that the financial crisis may have further spurred the impact of investments in human capital on the market performance. (shrink)

The economic restructuring and rapid rise of the economy in Northeast China have resulted in a proliferation of new ventures. Studying the psychology of new entrepreneurs is conducive to understanding the relationship between human capital and economic growth. The work reported here aims to explore the impact of human capital on economic growth in Northeast China and the influencing factors of psychological capital of new entrepreneurs in the entrepreneurial process. Based on Cobb–Douglas production function, the (...) relationship between labor, physical capital, or human capital and economic growth in Northeast China is analyzed by econometric methods, and a model of human capital and economic growth in Northeast China is constructed. Besides, a psychological capital intervention model is proposed to develop the psychological capital of new entrepreneurs, and the psychological quality structure model of entrepreneurial entrepreneurs and its operation mechanism. The results of the empirical analysis demonstrate that the elasticity coefficient of human capital in Northeast China is 0.15902, five times smaller than that of labor and physical capital. Moreover, 70% of new ventures are willing to accept higher education. The fitting degree of using the PCI model to develop the psychological capital of new ventures is only 0.3%. In addition, the modified external environment PCI instead of the external environment PCI model has a huge operating potential in the macro-entrepreneurial environment. In conclusion, the impact of human capital on economic growth in the northeast is smaller than the impact of labor and material capital investment on regional economic growth. The development of human capital and research on the composition and mechanism of psychological quality of entrepreneurial entrepreneurs are of significant theoretical and practical values to promote the economic growth in the northeast. (shrink)

In a post-industrial society, the analysis of human abilities to work, their formation, reproduction and effective functioning is becoming increasingly important for achieving social and economic well-being. In the realities of globalization and total informatization, the figure of a person with his knowledge, creative and intellectual abilities comes to the fore. There is a reorientation of economics from the use of labor resources to the problems of creating a qualitatively new workforce, which takes the form of human (...) class='Hi'>capital. The concept of human capital testifies not only to the crucial role of man in the socio-economic system of post-industrial society, but also the need to invest in man, his education, training, health and livelihood, which are now priorities not only for individuals but also various government projects and programs. The state of human capital development is measured using the human capital index, which is calculated for each country separately. In contrast to other studies, the article focuses on the development and importance of human capital in the realities of post-industrial society. Namely, the concept of human capital in the realities of post-industrial society is considered, the state of human capital development in modern conditions is analyzed, the influence and challenges of post-industrial society on human capital development are studied and the method of comparative analysis is applied. (shrink)

In an important contribution to educational policy, Daniele Checchi offers an economic perspective on the demand and supply of education. He explores the reasons why, beyond a certain point, investment in education has not resulted in reductions in social inequalities. Starting with the seminal work of Gary Becker, Checchi provides an extensive survey of the literature on human capital and social capital formation. He draws on individual data on intergenerational transmission of income and education for the (...) USA, Germany and Italy, as well as aggregate data on income and educational inequality for a much wider range of countries. Checchi explores whether resources spent in education are effective in raising students' achievement, as well as analysing alternative ways of financing education. The Economics of Education thus provides the analytical tools necessary to understand the complex relationships between current income inequality, access to education and future inequality. (shrink)

This paper analyses how the discursive construction, valuation and subjective experience of human capital is evolving in parallel with crises of capital as a world-system. Ideology critique provides tools for analysing policy ‘fictions’ that aim to sustain investment in human capital through education. Foucauldian analytical tools enable analysis of how human capital has become a project of self-appreciation and cultivation of positive psychological traits. We argue that the work of Lauren Berlant provides (...) an important complement to these approaches and enables us to analyse how crises of capital are being lived as the cruelling of optimism about social mobility through investment in oneself as human capital. The paper points to an educational politics and pedagogy for living through infrastructural breakdown in darkly uncertain historical times. (shrink)

A decline in public sector extension services in developing countries has led to an increasing emphasis on alternative extension approaches that are participatory, demand-driven, client-oriented, and farmer centered. One such approach is the volunteer farmer-trainer approach, a form of farmer-to-farmer extension where VFTs host demonstration plots and share information on improved agricultural practices within their community. VFTs are trained by extension staff and they in turn train other farmers. A study was conducted to understand the rationale behind the decisions of (...) smallholder farmers to volunteer their time and resources to train other farmers without pay and to continue volunteering. Data were gathered through focus group discussions and individual interviews involving 99 VFTs. Findings of the study showed that VFTs were motivated by a combination of personal and community interests that were influenced by religious beliefs, cultural norms, and social and economic incentives. Altruism, gaining knowledge and skills, and social benefits were the most frequently mentioned motivating factors for becoming VFTs.3 years after starting, the income earned from selling associated inputs and services was also a main motivating factor. There were no significant differences between motivating factors for men and women VFTs. The findings point to the fact that VFTs work effectively without being paid, but investments in human, social, and financial capital are crucial to keeping them motivated. These factors are key to ensuring the sustainability of farmer-to-farmer extension programs beyond the projects’ lifespan. (shrink)

Income distribution continues to be a major problem of the countries. Turkey is one of the countries that are in the high Gini Coefficient if we compare it with the EU members. It is known that Turkey has applied various economic policies to solve this problem. In order to ensure social justice the application of redistribution policies is the first solution that comes in mind. However, its implementation option is limited due to its negative effect on economic growth. The most (...) effective option to ensure social justice is to give importance to the education sector without compromising on the economic growth. In this study we will discuss, firstly, income distribution movements over the years and analyze its impact on the political economy. Especially in the time period of 1977-2014, the effects of an increase in the economic growth due to an increase in the number of primary, secondary and university graduates will be investigated by using the ARDL boundary test approach. The obtained finding of the long term relationship of these variables and the contribution of their relationship on the estimated result of an increase in the education index caused by a decrease in the Gini Coefficient that is shown in the form of improvement effects of income distribution. According to the findings in the literature the investments made for education in Turkey have made a significant contribution to the improvement of income distribution. Lastly, in order to increase the influence of education on economy some policy recommendations have been discussed in the study. (shrink)

Amid great uncertainty along with the possibility of huge returns, venture investment decisions are both technical and artistic. Past studies have paid much attention to the influences of objective factors on venture investment. However, subjective factors have been relatively ignored. As a salient psychological mechanism, temporal focus is of great importance for venture capitalists when making their investment decisions. This study performed content analysis to investigate how temporal focus at the organizational level affects investment decisions of (...) venture capital firms. The results revealed that VCs with higher level of long-term orientation prefer to invest in less popular industries and ventures in the expansion period. Meanwhile, they are less likely to invest in very new start-ups. Moreover, long-term oriented VCs tend to re-invest in start-ups in their portfolios instead of just shooting once on numerous single start-ups. However, the author did not find any support on preferences of VCs for ventures with high level of human capital. (shrink)

This paper is intended to investigate the role of Venture-Capital Syndication background in the relationship between intellectual capital and portfolio firm performance ; specifically, this article examines the moderating effect of VCS’s leading firm background and member heterogeneity on the effect of IC on PFP. This study used a modified VAIC model to measure IC to compose a 4-component variable including human capital, structural capital, relational capital, and innovation capital. The data were collected (...) from VCS-backed and listed firms in China during 2014 to 2018 applying the pooled OLS model for hypotheses test, Generalized Method of Moments to reduce endogeneity and unobserved factor control, and also return on equity instead of ROA for the robustness test. Empirical results showed that IC and its components can improve PFP for VCS-backed firms in China; in detail, IC showed greater impact on performance of firms invested by foreign lead investors than in private or government VCS, specially reflected in the impact of innovation capital on PFP. Furthermore, IC showed weaker impact on PFP of mixed VCS-backed firms compared to pure VCS-backed firms and showed diminished effect on higher VCS member heterogeneity mainly reflected in the impact of relational capital on firm performance. These findings propose a new way of combining IC and VC to improve firm performance and are beneficial to theoretical development of IC and VC as well as a perspective for VC firm managers to choose suitable partners prior to join a VCS. (shrink)

Intellectual Capital is a driving force behind the financial performance of non-financial firms. Investing in intellectual and physical capital allows companies to optimize their financial performance by maximizing resource utilization. This study aims to determine whether IC efficiency impacts the financial performance of listed Pakistani and Indian companies between 2010 and 2020. Return on Assets and Return on Equity are used to calculate financial performance, and IC is calculated using the modified Value-Added Intellectual Coefficient model. Regression analysis is (...) performed using the STATA software developed by the South Texas Art Therapy Association. Human Capital, Structural Capital, and Capital Employed have a significant impact on Pakistani and Indian firms’ financial performance. Resource-based theory supports these findings. The findings should provide management with a prompt to improve financial performance and emphasize the importance of IC. A rare study has addressed the impact of IC on firm financial performance using the MVAIC model, rather than the VAIC model, in Pakistan and India. (shrink)

No research explored intellectual capital about green innovation or environmental management. This study wanted to fill this research gap, and proposed a novel construct – green intellectual capital – to explore the positive relationship between green intellectual capital and competitive advantages of firms. The empirical results of this study showed that the three types of green intellectual capital – green human capital, green structural capital, and green relational capital – had positive effects (...) on competitive advantages of firms. Moreover, this study found that green relational capital was the most common among these three types of green intellectual capital, and the three types of green intellectual capital of Medium & Small Enterprises (SMEs) were all significantly less than those of large enterprises in the information and electronics industry in Taiwan. In sum, companies investing many resources and efforts in green intellectual capital could not only meet the trends of strict international environmental regulations and popular environmental consciousness of consumers, but also eventually obtain corporate competitive advantages. (shrink)

For eradication of acute poverty, it is vital to factor in the human experience of it. Building social capital and networks that nurture, empower, and consistently reinforce a new shared economic identity can provide rich socioeconomic dividends. For states tackling extreme poverty at scale, building and strengthening social capital are essential public goods investments.

Based on European National Transfer Accounts data from 2010, this paper quantifies and evaluates the balance of intergenerational transfer flows in 16 EU countries, including transfers in the form of unpaid household work. On average, the value of net transfers received by a child amounts to sixteen times the labour income of a full-time worker, and the net transfers received by an elderly person to six times the labour income of a full-time worker. Intergenerational transfers can be regarded as the (...) reciprocal exchange between two generations: the size of the transfers to the child generation determines their potential to generate income and finance public transfers to the elderly population once they enter employment. We develop and calculate an indicator to analyse if there is a balance between transfers to children and transfers expected by the elderly population. The results indicate that in most of the analysed countries the human capital investments in children are far too low to finance the generous transfers to the elderly population in the future. (shrink)

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which investment responds to the availability of internal cash flows. We find that CSR performance leads to a decrease in ICFS. We further find that ICFS decreases (increases) when CSR strengths (concerns) increase. Finally, we find that (...) the effect of CSR on ICFS is driven by the areas Community, Diversity, and Human Rights. In sum, the findings of this study stress the relevance of CSR—in particular, of CSR activities that extend beyond compliance behavior and reflect what is desired by society—in reducing market frictions and improving firms’ access to financial capital. (shrink)

People should be at the centre of attention within knowledge-based economics. The leaders of each enterprise ought to focus on providing the best conditions for their employees’ professional and individual development and treat them with respect in terms of their dignity and needs. In contemporary literature two notions in perceiving people in organisations are noticeable. The first one treats employees as ‘resources’ which have to be properly used or as ‘capital’ that should bring a decent return on investment. (...) The second notion derives a lot from Christian philosophy and sees the human as a person who treats work as a way to realize his calling and thus is able to take responsibility for the decisions made and actions taken. Acting in a constantly changing environment, people have to be flexible and able to take advantage of emerging opportunities and avoid threats. Within this process it is not a matter of being a human ‘being’ but rather becoming, which means that they are incessantly developing their potential. Although it is hard to predict human behaviour, the main task for managers is to lead in a way that will help employees use their full potential for both their own and the company’s benefit. (shrink)

Parental investment decisions guide parental actions regarding children’s productive work and are shaped by ecological context. Urban ecology enhances long-term payoffs to investment in human capital, increasing opportunity costs for work performed by children, and decreased workload should result. Using an embodied capital framework, self-reported data on urban and rural Indo-Fijian children’s work activities are compared. Results show higher workloads for older children, rural children, and girls. High scholastic achievement is associated with lower workloads for (...) girls, but not boys. This pattern is interpreted as daughter-biased investment in the context of urbanization. (shrink)

No research explored intellectual capital about green innovation or environmental management. This study wanted to fill this research gap, and proposed a novel construct - green intellectual capital - to explore the positive relationship between green intellectual capital and competitive advantages of firms. The empirical results of this study showed that the three types of green intellectual capital - green human capital, green structural capital, and green relational capital - had positive effects (...) on competitive advantages of firms. Moreover, this study found that green relational capital was the most common among these three types of green intellectual capital, and the three types of green intellectual capital of Medium & Small Enterprises were all significantly less than those of large enterprises in the information and electronics industry in Taiwan. In sum, companies investing many resources and efforts in green intellectual capital could not only meet the trends of strict international environmental regulations and popular environmental consciousness of consumers, but also eventually obtain corporate competitive advantages. (shrink)

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which investment responds to the availability of internal cash flows. We find that CSR performance leads to a decrease in ICFS. We further find that ICFS decreases (increases) when CSR strengths (concerns) increase. Finally, we find that (...) the effect of CSR on ICFS is driven by the areas Community, Diversity, and Human Rights. In sum, the findings of this study stress the relevance of CSR—in particular, of CSR activities that extend beyond compliance behavior and reflect what is desired by society—in reducing market frictions and improving firms’ access to financial capital. (shrink)

Considering that some university-based principal preparation programmes may not be properly training principals for leadership roles, “grow your own” leadership development programmes have become more popular across the US. This study provides a contribution to previous research in terms of the specific components a district leadership development programme may incorporate into its curriculum in order to positively influence school principals’ effectiveness as school leaders. A purposeful sample of second-, third- and fourth-year campus principals working in a large urban school district (...) in the south-west region of the US who had participated in their district’s leadership development programme were administered the Principal Effectiveness Survey and participated in semi-structured interviews to examine the influence of the programme on the participants’ effectiveness as leaders. Survey results indicated that principals consider training activities related to human capital, executive leadership, s... (shrink)

With the emergence of environmental sustainability and green business management, increasing demands have been made on businesses in the areas of environmental corporate social responsibility. Furthermore, the influence of ECSR on green capital investment, environmental performance, and business competitiveness has also been the subject of attention from enterprises. However, in previous studies, the mediating role of green information technology capital in the relationship between ECSR, environmental performance, and business competitiveness, has not been investigated by researchers. In order (...) to bridge this gap in the ECSR literature, this study aims to examine the influence of ECSR on green IT capital, and the consequent effect of green IT capital on environmental performance and business competitiveness. Data were collected from 358 companies from the top 1000 manufacturers in Taiwan. The results confirmed that ECSR has significant positive effects on green IT human capital, green IT structural capital, and green IT relational capital. Green IT structural capital and green IT relational capital have positive effects on environmental performance and business competitiveness, and environmental performance has a positive effect on business competitiveness. In addition, green IT structural capital and green IT relational capital have partial mediating effects on ECSR, environmental performance, and business competitiveness. The implications and suggestions for future research are discussed. (shrink)

The discourse on labor engagement, underutilization, and unemployment has been a prominent focus in development literature, particularly in developing economies. These issues influence migration patterns and gross domestic output and, in some cases, contribute to youth restiveness. This study delves into the intricate relationship between investments in human capital, represented by spending on education and health, and its repercussions on youth employment outcomes in India. We gathered annual data spanning the years 1990 to 2021 from various Indian states. (...) We employed the bootstrap-based bias correction for panel fixed effects estimation techniques to enhance the analytical accuracy. The findings of our investigation reveal that investments in human capital, encompassing both private and government health expenditures as well as expenditures on primary, secondary, and tertiary education, exert significant but varying impacts on youth employment in India. These results carry important policy implications. To effectively address the persistent challenge of youth unemployment in India, it is imperative to prioritize consistent and disproportionate investments in education over health. This shift in focus could prove instrumental in reversing the trend of youth unemployment and fostering sustainable economic growth. (shrink)

Despite the fact that the association between business greening and its competitiveness has been confirmed, the effects of green IT capital on the relationship between business greening and competitiveness have largely not been investigated by researchers. To address this gap in the research, this study aims to introduce and define the new concept of green IT capital to bridge the gap for business greening. The results of a sample survey of 148 companies from the top 1,000 manufacturers in (...) Taiwan confirmed that the degree of business greening has significant positive effects on business investment in green IT human capital, green IT structural capital, and green IT relational capital as well as business competitiveness. In addition, the three dimensions of green IT capital positively relate to business competitiveness. In mediating effect, green IT relational capital partially mediates the links between the degree of business greening and business competitiveness. (shrink)

This empirical study advances the understanding of the theory of investment in human capital by outlining limitations to its applicability in the context of return to education. The study uses the concept of moral hazard to examine circumstances when financial support for education purpose generates less desirable post-graduation incomes. This study explores the relationship between financial support and post-graduation incomes using data from the Survey of Income and Program Participation that is designed to measure the economic situation (...) of individuals. Results suggest that students are less likely to engage in moral hazardous behavior to the degree to which they are older and to the degree to which they receive costlier financial assistance. (shrink)

Over the past decade, investments in agricultural and food technology startups have grown to previously unknown dimensions. Mushrooming agri-food tech startups that promise to solve critical issues in the agri-food system through technological innovation are increasingly perceived as an attractive new investment opportunity for venture capitalists and investors. This paper investigates how digital agri-food technologies are narrated, constructed, and promoted for financial investment. Through qualitative content analysis of agri-food tech industry reports, articles, and commentaries we trace the logic, (...) rationales, and narratives of this most recent investment rush, and reveal its immanent techno-finance fixes. We conceptualize the agri-food imaginaries produced within the agri-food tech discourse as financialized imaginaries, and argue that they are specifically tailored to construct, incentivize, and legitimize this new agri-food tech space for financial investment. In their attempt to raise money from investors, venture capital firms further fuel this development by discursively creating an ‘agri-food tech investment rush’—similar to the land and gold rushes of the past. Investments in agri-food tech startups, however, are presented to investors as both a profitable investment opportunity as well as a moral obligation, allowing for food production to cope with neo-malthusian and environmental threats. This paper contributes to our understanding of digitization as a socio-technical project, which includes the active envisioning and promotion of desirable agri-food futures. (shrink)

Today’s education system needs to be global. ‘World Class Education’ involves a globally accepted high standard of education. Every country needs an increasing number of highly educated people and skilled professionals in order to integrate into the globalization process. These professionals include scholars, philosophers and leaders with vision. Leaders are our human capital. The state must provide opportunities for higher education to create human capital that meets global standards. The overall development of a society is largely (...) determined by the quality of its education, especially higher education. A well-educated, well-trained population could propel a nation towards rapid economic growth. Despite lack of natural resources, countries such as Japan, Korea and Singapore have made rapid economic progress. This was because they invested heavily in education and training. On the other hand, countries such as Nigeria or Congo, despite enormous natural resources, are poor and backward because of large-scale illiteracy and lack of skilled workforce. The aim of education is to create well-trained, competent and progressive individuals who can perform all kinds of tasks and take on a lot of responsibilities. Higher education is the stage of education that takes place at the post-secondary level, and is provided mostly and most meaningfully by universities. A university introduces its students to discussions and debates that prevail in various disciplines and fields of knowledge. The objective of a university is not only to create and disseminate knowledge but also to develop human resources that will accelerate the socio-economic development of the nation. This is possible only when the employees working in these universities are motivated and empowered. To achieve this objective, universities must restructure and redesign their HRD practices and processes. In this background, the present article analyzes the existing HRD practices and processes in 10 leading universities in India and how should these universities go about transforming their HR systems and mechanisms to meet the rapidly changing environmental demands. The research approach and methodology adopted to carry out this study includes collection of primary and secondary data. Primary data has been collected by administering a well-structured and well-designed questionnaire on HRD climate survey developed by XLRI Jamshedpur. The questionnaire had been administered to 1,000 respondents selected from the 10 leading universities of India. Data from both the sources were analyzed statistically by applying various statistical tools and techniques to find the conclusions, based on which the guidelines, recommendations and policy implications were made for the improvement of HRD practices in the universities. (shrink)

Previous research showed that accumulations of capital following stationary interest rates are underestimated by human judges. Hyperbolic discounting was suggested as a descriptive and explanatory model for this phenomenon. First, we investigated judged accumulated capital after a period of annual growth and decline. The degree of underestimation increased with accumulated growth and the results supported hyperbolic discounting as a descriptive model on the group level. However, the hyperbolic model did not apply to the data for one third (...) of the participants. Second, we investigated how investment decisions were related to capital accumulation before the investments and to judgments of the possible outcomes of the future investments. To our surprise, the participants’ judgments of expected future accumulated capital did not add predictive power to predictions based on whether there was growth or decline before the investment decision. Unfortunately this strategy leads to suboptimal investment decisions. (shrink)

This book studies the impact of corporate planning and implementation procedures on the level of corporate capital investment. It stands among the few studies within the behavioural economics tradition that employ direct examination of corporate decision processes to address variables of central concern in conventional economics. In addition, by using a combination of qualitative data from interviews and corporate documents along with econometric analysis of corporate plans and actual outcomes, the study makes a substantial methodological advance. Along with (...) the methodological advance comes a different conception of the determinants of corporate capital investment. The findings of this study have implications for research and practice in economics, corporate strategy and public policy. As such, Corporate Capital Investment will be of interest to scholars and practitioners of all disciplines who are seriously concerned with corporate capital investment. (shrink)

In addition to the traditional personnel and human resource management (HRM), there is a need for a new approach to personnel management, which we will call Human Capital Management (HCM). HCM emphasises an alignment between the individual and the organization and in our view offers the challenge and the key to successful management in the future.

The proliferation of diasporas has influenced the nature of internationalization in many higher education (HE) systems and institutions, especially in terms of academic and student mobility/migration. Through a systematic review of the academic literature, I critically analyze the widespread uses of and approaches to ‘diaspora’ in HE research and its relationship to internationalization. I identify two major areas of studies and corresponding approaches to diaspora: one which frames diaspora as human capital and focusses on the role of the (...) state; and the other which frames diaspora as marginalized other and social construct. I argue that ‘diaspora’ in HE studies tends to be ambiguous, under-defined, under-theorized, and fragmented. I further argue that it is loosely connected to internationalization discourses, despite its clear connections. I posit that this is because ‘internationalization’ is associated with humanitarianism, cosmopolitanism, global citizenship and the de-centering of states, nations, ethnicities, religions, and particularistic identities. Diaspora is often associated with these latter categories and thus, is shunned. I conclude by suggesting that the blending of (often conflictual) ideas, intentions, values and identities is precisely what diaspora engages in and that the conditions of our increasingly mobile and (inter)connected world necessitate a (re)thinking of diaspora in HE scholarship. (shrink)

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 education in promoting social cooperation. I begin by exploring the conception of human conduct that underlies human capital (...) theory. I then move to examine the conception of social cooperation that tacitly guides human capital theory and maintain that it could not be effectively defended. I, therefore, turn to examine alternative ways to combine between human capital theory and the promotion of social cooperation. My main argument is that under existing conditions there is a deep theoretical incompatibility between the philosophical foundations of human capital theory and the ways in which education seeks to promote social cooperation. (shrink)

The present study investigated the configuration effect of human capital, social capital, and psychological capital on job performance. The human capital questionnaire, social capital scale, psychological capital scale, and job performance scale were used to survey 458 employees. Results revealed that four antecedent configurations could achieve high task performance, and three antecedent configurations can achieve high contextual performance. The high job performance driving path was characterized by “all roads lead to Rome.” (...) class='Hi'>Human capital, social capital, and psychological capital affected job performance in the form of configuration, which reflected the asymmetric causal relationship. (shrink)

In today's conditions of postmodern space the most significant resource of the modern economy, which is being formed in the leading countries of economic development, is human capital. The main goal of the article is to study the process of managing the formation of human capital in the functioning postmodern society as the basis of the national economy and ensuring the economic security of the enterprise. The basic components of human capital are determined on (...) the basis of the analysis. It is established that the basic component is knowledge that affects others and in postmodern conditions of development of the national economy and determines the process of development of human capital. At the same time, the process of forming knowledge, in accordance with the principles of the functioning of the knowledge economy, is associated with the availability and possibility of obtaining information. The object of study is the enterprises of Eastern Europe. The subject of the study is human capital, the economic security system of the enterprise The results of the study allowed us to develop a model for the formation of human capital and to form a mechanism for ensuring the economic security of the enterprise through management of the formation of human capital under the conditions of the postmodern society. (shrink)

Article highlights the contribution of human capital, which is currently important for every business entity. In order to be an effective organization, it must have a human capital with creative potential. Creativity largely influences work and personal life balance and language skills. Therefore, in the first part of this paper, I concentrate on possibilities of increasing creativity of human resources and discuss the notion of human capital and creativity. Currently, if a business entity (...) wants to be competitive and efficient, it must posses creative human resources. What are the possibilities of increasing creativity? Due to the global economic crisis, businesses prefer to reduce the cost of education. This tendency seems to be a very week one, even a dangerous one! The paper deals with the effectiveness of creative thinking and with the use of part of existing global environmental undertaking. The paper investigates in particular the language skills of human resources. I have compared the Slovak and Chinese language, as when operating on a given language, except others, human being is familiar with cultural differences in that particular language and can think within this framework, which creates a new perspective on problem solving in general, with a particular use in the respective organization. In this article, I discuss and analyze the knowledge of human resource management and human capital theory. I use mainly comparative method and relational content analysis. The contribution is processed on the basis of Human Capital report. The main scientific objective is to highlight the language skills of the human resource and its link to creative thinking. Important issue seems to be a balance between professional and personal life, which forms an important basis for the development of creativity and creative thinking. Within the language skills, a specific highlight is dedicated to chromatic adjectives that are currently used in these languages, but also the idioms and phrases that are not possible to translate into another language. (shrink)

In addition to the traditional personnel and human resource management (HRM), there is a need for a new approach to personnel management, which we will call Human Capital Management (HCM). HCM emphasises an alignment between the individual and the organization and in our view offers the challenge and the key to successful management in the future.

The article reveals the issues of interdependence of the development of human capital in public administration on the level of its provision by the state in the context of COVID-19. In a democratic, civil, postmodern society, one of the main tasks is the development of systems for managing the efficiency of human capital in the context of public administration, as a means of obtaining higher levels of labor productivity. Today we have to state that the achievement (...) of this efficiency in the use of human resources can be better achieved by orienting the performance management system to promote the attraction of new human potential in public administration at all levels. In this context, a new approach to the human capital management process is being actualized, which includes employee engagement and key factors of employee engagement at every stage. We are talking about a management model that includes the main ideas and offers a new perspective on how to develop and manage the involvement of human resources to achieve high levels of labor productivity in public administration in the context of COVID-19. The purpose of the article is to study the essence, characteristics and role of human capital in the context of public administration in the context of the existence of the epidemic danger of COVID-19. (shrink)

ABSTRACT:The link between firm corporate social performance (CSP) and executive compensation could be driven by a sorting effect (a firm’s CSP is related to the initial levels of compensation of newly hired executives), or by an incentive effect (incumbent executives are rewarded for past firm CSP). Existing empirical work focuses exclusively on the incentive effect. In contrast, in this paper we explore the sorting effect of firm CSP on the initial compensation of newly hired executives. In doing so, we develop (...) a novel theoretical approach based on an integration of stakeholder theory and human capital theory, suggesting a positive association between the initial compensation of executives and firm CSP strengths and concerns. It also suggests that the strength of this relationship varies between different executive roles (as a function of stakeholder-management responsibilities). We find support for this theoretical framework in a large sample of newly-hired executives employed by Standard & Poor 1500 firms. (shrink)