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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

In the context of exponential technological advancements in the economy and the role of entrepreneurial ventures in significantly contributing towards social and economic growth, this study aims to examine the influence of learning motivation and personal innovativeness (PI) on students’ entrepreneurship intention. The study gains relevance in the context of students in emerging economies like India, where the digital divide is still on the higher side. The study also seeks to understand the extent to which varying levels of technological self-efficacy moderate the interaction effects of human capital in the aforementioned relationship.

The sample for this study consisted of 330 students from various disciplines, including science, technology and management, who were selected randomly from different universities in India. A self-administered and structured questionnaire was used to obtain responses from the participants. The data were analysed using confirmatory factor analysis (IBM SPSS 23.0), and path analysis was performed using Hayes PROCESS Macro.

The study's results indicated that learning motivation and PI had a significant indirect effect on students’ entrepreneurship intention, mediated through human capital. However, interestingly, the relationships were varyingly influenced by technological self-efficacy as the moderator.

The contemporary student cohort consists of individuals known as “digital natives,” who possess a strong inclination towards digital learning and demonstrate innovative behaviour. The insights gained from this study underscore the crucial role of technological self-efficacy in shaping entrepreneurial intentions, indicating the necessity of incorporating technological training and skill development within international business education curricula. Also, the results of the study emphasize the need for integrating PI into business education programs, as it positively influences the entrepreneurial mindset and potential.

This study is pioneering in conceptualizing and testing a model that provides a more comprehensive understanding of student attitudes and outcomes. This understanding can be used to customize entrepreneurial programs to better meet the needs of students. Entrepreneurship fosters technological innovation and creates employment opportunities, making student venture creations a crucial factor in economic development and sustainability. For educators and university administrators, it is essential to comprehend how to enhance entrepreneurial intentions among students to design a learning environment that facilitates the creation of new ventures as a result of higher education.

The purpose of this paper is to define the elements of intellectual capital of firms in Turkey and to empirically investigate the relationship between intellectual capital and market value of firms in Istanbul Stock Exchange. To create a suitable intellectual capital measurement model for this study, a wide literature research was made. In almost every created intellectual capital measurement model, elements of intellectual capital are defined in three dimensions; i.e. human capital, structural capital and relation capital. For the research, an intellectual capital measurement model is created and four hypotheses are defined. The main conclusions from this study are that: human capital and relation capital of firms have a positive relationship with market/book value of firms in Turkey; and structural capital of firms in Turkey has a correlation with human and relation capital.

Based on the resource‐based view of the firm, this study aims to examine antecedents and outcomes of firm‐specific marketing capital pool invested by marketers in a transition market, Vietnam.

A sample of 528 marketers in Ho Chi Minh City was surveyed to test the theoretical model. Structural equation modelling was used to analyze the data.

It was found that firm‐specific marketing capital pool had positive impacts on both job attractiveness and job satisfaction. The impacts of human marketing capital and relational marketing capital pools on firm‐specific marketing capital were significant. Finally, the relationship between job attractiveness and job satisfaction, and the relationship between human marketing capital pool and relational marketing capital pool were also significant.

A key limitation of this study is the examination of only two antecedents of firm‐specific marketing capital pool: human and relational marketing capital pools.

The results of this study suggest that firms should establish people management policies and practices that motivate marketers to invest more in firm‐specific marketing capital to enhance job attractiveness and job satisfaction of marketers. Also, in order to improve firm‐specific marketing capital, recruiting marketers with high levels of human and relational marketing capital pools is a priority.

The study investigates the role of human resources at the marketing professional level in job attractiveness and job satisfaction in a transition market.

Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the utility of human capital have often been divided. To address the research gap in the literature, the authors attempt to understand how human capital plays a significant role in financial development and economic growth nexus.

The authors rely on secondary data published by the World Bank. The authors use econometric tools such as the autoregressive distributive lag (ARDL) model and related statistical tests to study the relationship between human capital, India's financial growth and gross domestic product (GDP) growth.

Study findings suggest that human capital and financial development contribute significantly to economic growth. Further, the authors found that human capital has a positive and significant moderating effect on the path of joining financial development and economic growth.

The study contributes to the human capital debate. Despite the rich body of literature, the study based on World Bank data confirms the previous findings that investment in human capital is always useful for the financial and economic growth of the nation.

This paper reveals some unique findings regarding effect of financial development and economic growth nexus which opens the window of new dimension to think about their nexus. It also provides a different pathway to foster the economic growth by using human capital and financial development as together, especially in India.