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Book part
Publication date: 4 December 2020

Daša FarCˇnik and Tanja IsteniCˇ

Affordable and clean energy as well as regulation and decrease in emissions are in the heart of sustainable development goals. In order to achieve these goals, cleaner…

Abstract

Affordable and clean energy as well as regulation and decrease in emissions are in the heart of sustainable development goals. In order to achieve these goals, cleaner technologies together with responsible consumption and production need to be adopted. Therefore, the knowledge, skills and habits – the human capital and increased awareness of its importance, play an important role. The relationship between sustainability and human capital has been addressed only recently. There had been two streams of literature, investigating either (i) the relationship of human capital and the economic growth, or (ii) the nexus of economic growth and sustainability, without realizing the interconnectedness of these concepts. In this chapter, the authors add contribution to this scarce, yet growing body of literature by investigating the relationship between human capital (measured by Index of human capital) and two measures of sustainability: electricity use and CO2 emissions for a panel of European Union Member States. The authors show that the increase in human capital is associated with the decrease in energy consumption and CO2 emissions and therefore is associated with the increase in sustainability. This chapter bears important policy implications since it shows that the human capital, its stock and quality, should be included in the sustainability discussions and is important for achieving the sustainability goals.

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Challenges on the Path Toward Sustainability in Europe
Type: Book
ISBN: 978-1-80043-972-6

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Book part
Publication date: 12 November 2018

Malcolm Tight

The theory of human capital has arguably been the most influential theory impacting upon higher education policy (and educational policy in general) worldwide over the last half…

Abstract

The theory of human capital has arguably been the most influential theory impacting upon higher education policy (and educational policy in general) worldwide over the last half century or more. In more recent years it has been supplemented by social capital theory. This chapter reports on a systematic review of publications that have applied these theories in the context of higher education research, examining the origins and meanings of the theories, their application and practice, and the issues and critiques that have been raised. It concludes that while both theories have underlying faults, most notably perhaps in their treatment of human beings and their relationships as resources, they remain essential to higher education and higher education research in maintaining the interest of policy-makers and funders.

Abstract

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Explaining Growth in the Middle East
Type: Book
ISBN: 978-0-44452-240-5

Book part
Publication date: 1 January 2008

Lisa Bryant-Kutcher, Denise A. Jones and Sally K. Widener

Economic theory posits that production factors that are both difficult to imitate and capable of creating organizational efficiencies can generate economic rents and sustain…

Abstract

Economic theory posits that production factors that are both difficult to imitate and capable of creating organizational efficiencies can generate economic rents and sustain long-term competitive advantage. Using survey data for 106 firms, we measure four dimensions of strategic human capital and find that the market values strategic human capital that has the capability to create efficiencies in the organization and is also difficult for competitors to imitate. We discuss implications for the reporting of human capital in intellectual capital reports and offer suggestions for future research.

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Advances in Management Accounting
Type: Book
ISBN: 978-1-84855-267-8

Book part
Publication date: 19 August 2017

Carolyn M. Youssef-Morgan, Paul P. Poppler, Ernie Stark and Greg Ashley

Much like “Yeti,” the Abominable Snowman whose footprints are everywhere but itself nowhere to be seen, unfounded assertions of human capital as valuable contributors to strategic…

Abstract

Much like “Yeti,” the Abominable Snowman whose footprints are everywhere but itself nowhere to be seen, unfounded assertions of human capital as valuable contributors to strategic success continue to proliferate. Many of these treatments are nonbinding, nonmeasureable, idiosyncratic, tautological, and therefore nearly impossible to use for any comparative market valuation. In this chapter, we selectively review the interdisciplinary literature on exemplars of human-derived capital. We systematically examine specific epistemological strengths, weaknesses, and gaps in recognized theories, measures, and practices. In particular, a multidisciplinary, multilevel, connectionist point of view is suggested. We present the case for an evidence-based classification system of human-derived capital at the micro-, meso-, and macro-levels. Our framework goes beyond static stock models by emphasizing dynamic human-derived capital flows, as well as their within-level and cross-level linkages, all within the context of a modern society that increasingly is networked, fluent with technology, and prodigious with social media.

Book part
Publication date: 16 December 2016

Alexandre Rambaud and Jacques Richard

This chapter gives in “Introduction to the Human Capital Issue” a critical analysis of the standard (economic) Human Capital (HC) theory, with the help of some “traditional”…

Abstract

Purpose

This chapter gives in “Introduction to the Human Capital Issue” a critical analysis of the standard (economic) Human Capital (HC) theory, with the help of some “traditional” (founding) accounting concepts. From this study, to avoid the accounting and social issues highlighted in “Introduction to the Human Capital Issue,” we present, in “The “Triple Depreciation Line” Model and the Human Capital,” the “Triple Depreciation Line” (TDL) accounting model, developed by Rambaud & Richard (2015b), and we apply it to “HC,” but viewed as genuine accounting capital – a matter of concern – that firms have to protect and maintain.

Methodology/approach

From a critical review of literature on HC theory, from the origin of this concept to its connection with sustainable development, this chapter provides a conceptual discussion on this notion and on the differences/common points between capital and assets in accounting and economics. Then, it uses a normative accounting model (TDL), initially introduced to extend, in a consistent way, financial accounting to extra-financial issues.

Findings

This analysis shows at first that the standard (economic) HC theory is based on a (deliberate) confusion between assets and capital, in line with a standard economic perspective on capital. Therefore, this particular viewpoint implies: an accounting issue for reporting HC, because “traditional” accounting capital and assets are clearly isolated concepts; and a societal issue, because this confusion leads to the idea that HC does not mean that human beings are “capital” (i.e., essential), or have to be maintained, even protected, for themselves. It only means that human beings are mere productive means. The application of the TDL model to an accounting redefinition of HC allows a discussion about some key issues involved in the notion of HC, including the difference between the standard and “accounting” narratives on HC. Finally, this chapter presents some important consequences of this accounting model for HC: the disappearance of the concept of wage and the possibility of reporting repeated (or continuous) use of HC directly in the balance sheet.

Research implications

This chapter contributes to the literature on HC and in general on capital and assets, by stressing in particular some confusions and misunderstandings in these concepts. It fosters a cross-disciplinary approach of these issues, through economic, accounting, and sustainability viewpoints. This analysis also participates in the development of the TDL model and the research project associated. It finally proposes another perspective, more sustainable, on HC and HC reporting.

Social implications

The stakes of HC are important in today’s economics, accounting, and sustainable development. The different conceptualizations of HC, and the narratives behind it, may have deep social and corporate implications. In this context, this analysis provides a conceptual, and practicable, framework to develop a more sustainable concept of HC and to enhance working conditions, internal business relations, integrated reporting. As an outcome of these ideas, this chapter also questions the standard corporate governance models.

Originality/value

This chapter gives an original perspective on HC, and in general on the concept of capital, combining an economic and an accounting analysis. It also develops a new way to report HC, using an innovative integrated accounting model, the TDL model.

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Finance and Economy for Society: Integrating Sustainability
Type: Book
ISBN: 978-1-78635-509-6

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Book part
Publication date: 26 July 2014

Eduardo Fayos-Solà, Laura Fuentes Moraleda and Ana Isabel Muñoz Mazón

Previously disregarded factors are now included in development theory and practice. A narrow understanding of capital has had profound effects on development as well as on tourism…

Abstract

Previously disregarded factors are now included in development theory and practice. A narrow understanding of capital has had profound effects on development as well as on tourism policy and governance. In this framework, purpose-designed tourism for development has been the exception. Contemporary ideas of other forms of capital playing a key role in a broader concept of development are examined, specifically the central function of human and social-institutional capital. Human capital is seen in the light of capabilities, attributes, and knowledge possessed by individuals. Social-institutional capital may empower individuals as it refers to the value of trust and cooperation deriving from formal and informal sets of behavioral rules. This chapter clarifies the foundations of tourism as an instrument for development if tourism policy and governance are designed and implemented within an adequate framework.

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Tourism as an Instrument for Development: A Theoretical and Practical Study
Type: Book
ISBN: 978-0-85724-680-6

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Book part
Publication date: 1 May 2023

Anh Le and I-Ju Chen

This study examines the relationship between board capital, including human and social capital, and corporate innovation. We propose two hypotheses: that a board with a higher…

Abstract

This study examines the relationship between board capital, including human and social capital, and corporate innovation. We propose two hypotheses: that a board with a higher level of human and social capital, respectively, is expected to have a higher level of innovation. To test these hypotheses, we use data from different sources, including SEC EDGARD-10k, Noah Stoffman, and S&P 500 Capital IQ for US public firms from all industries from 2000 to 2018. Four different innovation measurements are used to proxy for innovation: R&D, patents, citations, and number of new products. We use directors' level of education and industry experience to proxy for board human capital. The directors' social networks and interlocking ties are used to proxy for board social capital. We use fixed effect regressions to test the hypotheses and two-stage least square (2SLS) regressions to address endogeneity issues. We find that boards with higher levels of human capital are highly associated with corporate innovation in terms of citations. The findings imply that firms should hire directors with higher education and industry experience if they wish to increase their innovation.

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Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-80382-401-7

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Abstract

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Issues and Challenges in the Malaysian Economy
Type: Book
ISBN: 978-1-83867-482-3

Book part
Publication date: 26 May 2022

Eddy Priyanto, Eny Lestari Widarni and Suryaning Bawono

The purpose of this research is to find the best solution in cutting the poverty chain in the human capital development framework based on human capital investment with the…

Abstract

The purpose of this research is to find the best solution in cutting the poverty chain in the human capital development framework based on human capital investment with the opportunity and threat of Internet Inclusion and Financial Inclusion. This study uses a vector error correction model to see the relationship between variables, response, and impulse between variables to provide an overview of the relationship between variables during the study period and forecast future variable trends. We found that technological and financial inclusion P2P Lending can be an opportunity and a threat to developing the Indonesian people's human capital to reduce poverty. Human capital is proven to be effective in reducing poverty. Increasing human capital through human capital investment supported by inclusion technology and financial inclusion can reduce Indonesia's poverty. Financial inclusion can increase entrepreneurial and economic growth.

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Modeling Economic Growth in Contemporary Indonesia
Type: Book
ISBN: 978-1-80262-431-1

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