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This paper aims to focus on the effects of human capital composition, innovation portfolio and size on manufacturing firms’ performance. Moreover, it seeks to empirically identify the levels of education that are significant in labour productivity.

The resource-based view (RBV) theory is applied using data gathered from the National Innovation Survey in the Manufacturing Industries of Peru. Using the ordinary least squares method on a sample of 584 Peruvian manufacturing firms, the effects on firm performance of two subsamples according to innovation portfolio and firm size are determined.

The direct effects of human capital composition on productivity show that the higher the workers’ educational level, the higher the productivity. However, if this relationship is analysed in terms of the innovation portfolio, the authors find that labour productivity in companies with product–service innovation is greater (i.e. more significant) than in traditional manufacturing firms with only product innovations. Similarly, if this relationship is compared in terms of company, the authors find that large companies are more significant than small and medium-sized enterprises.

The study furthers the understanding of how the relationship between human capital composition, innovation portfolio and size of manufacturing firms positively affects labour productivity. Hence, it can help managers to craft their innovation portfolio according to the educational level of their human capital. This could require that not only human resource management innovates, but also that strategic partnerships be developed with educational establishments to boost training towards product–service innovation.

This study’s results provide confirmation that the configuration of human resources, innovation portfolio and size plays a significant role on manufacturing firms’ performance, particularly in the context of developing countries.

Theoretical and empirical research on the impact of immigrants for local development is rather inconclusive regarding the direction of said impact. The purpose of this paper is to identify relationships between human capital and cultural capital, in the context of local labour market productivity.

As the key constituents of human capital, identified in the literature, are both the locally generated through investment in education and the inflowing through immigration human capital, the paper examines those jointly in a close-to-reality-model. To this end, the paper operationalizes and infers data on the “melting pot” of EU15, NUTS2 level. The sources of the data are the Eurostat Regional Database and the World Value Survey, which have served to construct both a cross-section for the year 2001. These data sets allows us to examine the different groups of migrating and local human capital, their interaction and joint impact on local productivity through three stage least square estimations of the simultaneous equations CBD model.

The evidence suggests that benefits from immigrants differ, not only due to their human capital, but also due to their culturally biased different bargaining power on the labour market.

The main advantage of the suggested model of productivity is that, in addition to accounting for the filigree composition of human capital, it also takes into consideration the cultural capital present in a locality. In this manner, the authors are able to examine the interaction between the quality of the incoming human capital and the cultural encounter context (generating the cultural “milieu” effect) of the modern diverse city.

The main purpose of this paper is to visualize the relation between government spending on basic education and the human capital accumulation process, observing the impacts of this spending on individual investments in higher education, and on economic growth.

The paper uses an overlapping‐generations model where the government tax the adult generation and spent it in basic education of the next generations.

It was demonstrated that the magnitude of the marginal effect of government spending in basic education on growth crucially depends on public budget constrains.

The paper explains why some countries with a lot of public investment in basic education growth at low rates. In that sense if a country has only a lot of public investment in basic education without investment in higher education it may growth at low rates because the taxation can cause distortions in the agents incentives to invest in higher education.

How top management teams (TMTs) adapt and change to create and sustain competitive advantage is a fundamental challenge for human resource management studies. This paper examines the effects of TMT composition (human capital) and managerial ties (social capital) as factors that interactively explain managerial adaptive capability and organizational performance.

A unique survey dataset, derived through privileged access to organizational CEOs and CFOs of 101 Chinese organizations, was used to investigate a path between TMT functional diversity and organizational performance through adaptive managerial capability. Data were analysed using hierarchical multiple regression and Hayes (2012) PROCESS macro for SPSS.

Unexpectedly, the results show that functional diversity has no direct positive effect on firm performance; however when functionally-diverse TMTs are embedded in external networks, there is a significant positive impact on managerial adaptive capability and, through this, competitive advantage.

By identifying TMT functional diversity as an important driver of adaptive managerial capability, contingent on managerial ties, this study addresses a significant research gap pertaining to how TMT characteristics potentially contribute to the development of a core organizational capability.

The authors’ results highlight the importance of ensuring that recruitment into TMTs considers the complementarity of member functional background; however, benefit is only achieved when TMT members establish external ties with other organizations.

The authors’ findings provide evidence of the interactive effect of human and social capital on adaptive capability development and, through this, organizational performance.

The purpose of this study is to analyze the impact of human capital related to gender and nationality diversity in boards of directors on the innovation of university spin-offs (USOs) in their entrepreneurial ecosystem. Following the intellectual capital (IC) framework and the resource dependence theory, upper echelons theory and critical mass theory, it hypothesizes that the relationship between board diversity and USOs’ firm innovation is non-linear.

To test the research hypotheses empirically, a sample of 827 Italian USOs over the period 2009–2018 was analyzed using zero-inflated Poisson regression modeling. A robustness test was also performed.

Gender obstacles remain in USOs’ entrepreneurial ecosystem, with little involvement of women in boards, and the benefits of human capital for firm innovation emerge with increased female representation. Nevertheless, a few foreign-born directors embody valued IC in terms of human capital from an internationally linked entrepreneurial ecosystem, which decreases with more foreign-born directors due to communication costs and coordination problems.

The emerging non-linear relationships imply that gender- and nationality-diverse boards in USOs constitute critical human capital factors boosting the devolvement of entrepreneurial processes, in terms of firm innovation, in university entrepreneurial ecosystems.

This study contributes significantly to the move from traditional corporate governance analysis through an IC framework, fostering an understanding of the role of human capital and its diversity determinants in spurring firm innovation among USOs considering the university entrepreneurial ecosystem.

Both academia and policymakers express a strong belief in higher average education levels exerting a narrowing impact on wage inequality in general and gender wage gaps in particular. The purpose of this paper is to scrutinize whether or not this effect extends to R&D- and export-intensive branches such as the technology industry.

In exploring the impact of individual and job-related background factors and, especially, of job-task evaluation schemes on the size and change in gender wage gaps in the technology industry, the paper applies an elaborated decomposition method based on unconditional quantile regression techniques.

While changes in standard human capital endowments can explain little, if anything, of the growth in real wages or the widening of wage dispersion among the Finnish technology industry's white-collar workers, a new job-task evaluation scheme introduced in 2002 seems to have succeeded, at least in part, to make the wage-setting process more transparent by re-allocating especially the technology industry's female white-collar workers in a way that better reflects their skills, efforts and responsibilities.

One crucial implication of this finding is that improving the standard human capital of women closer to that of men will not suffice to narrow the gender wage gap in the advanced parts of the economy and, hence, not also the overall gender wage gap. The reason is obvious: concomitant with rising average education levels, other skill aspects have received increasing attention in working life. Consequently, a conscious combination of formal and informal competencies as laid down in well-designed job-task evaluation schemes may, in many instances, offer a more powerful path for tackling the gender wage gap.

While the existing evidence on the impact of performance-related pay on gender wage gaps is still scarce but growing the authors know of no empirical studies analyzing the gender pay-gap effect of job-task evaluation systems.

The empirical support for agency theory explanations for the great variance in CEO pay has been equivocal. Drawing from the performance appraisal literature, we hypothesize that boards of directors incorporate human judgment into the evaluation and reward of CEO performance in order to balance managerial risk with agency costs. We test Baysinger and Hoskisson’s (1990) proposition that insider‐dominated corporate boards rely on subjective performance evaluation to reward the CEO, and we argue that R&D intensity influences this relationship. Using a sample of Fortune firms, findings support our contention that human judgment is important in evaluating and rewarding CEO performance.

We examine the cardinal gap between wage distributions of the incumbents and newly hired workers based on entropic distances which are well-defined welfare theoretic measures. Decomposition of several effects is achieved by identifying several counterfactual distributions of different groups. These go beyond the usual Oaxaca–Blinder decompositions at the (linear) conditional means. Much like quantiles, these entropic distances are well-defined inferential objects and functions whose statistical properties have recently been developed. Going beyond these strong rankings and distances, we consider weak uniform ranking of these wage outcomes based on statistical tests for stochastic dominance. The empirical analysis is focused on employees with at least 35 hours of work in the 1996–2012 monthly Current Population Survey (CPS). Among others, we find incumbent workers enjoy a better distribution of wages, but the attribution of the gap to wage inequality and human capital characteristics varies between quantiles. For instance, highly paid new workers are mainly due to human capital components, and in some years, even better wage structure.

This study aims to explore how a change in the staffing configuration of foreign subsidiaries affects subsidiary performance by focusing on staffing localization.

The relationship between localization and subsidiary performance is analyzed from the perspective of human capital. Hypotheses are tested using a panel data set of foreign direct investment by Japanese multinational enterprises.

The analysis demonstrates that localization has a positive effect on subsidiary performance when subsidiaries can access a pool of competent local managers in the host country. It also shows that when competent local managers are highly available, localization has a positive effect on subsidiary performance under high cultural distance. In comparison, when the availability of competent local managers is limited and cultural distance is high, localization has a negative effect on subsidiary performance.

Using human capital theory, this study theorizes how localization, which is a change in the configuration of human capital toward a reliance on local-specific human capital, enhances subsidiary-specific advantages. It introduces the effects of changes in the configuration of human capital over time, into studies on subsidiary staffing. In addition, from a different viewpoint than previous studies, this study proposes one possible path where human capital leads to organizational performance. Specifically, it shows that a change in the configuration of human capital affects subsidiary-specific advantages, which eventually impacts subsidiary performance.

Building on recent advances in inverse probability weighted identification and estimation of counterfactual distributions, the authors examine the history of wage earnings for women and their potential wage distributions in the United States. These potentials are two counterfactuals, what if women received men’s market “rewards” for their own “skills,” and what if they received the women’s rewards but for men’s characteristics? Using the Current Population Survey data from 1976 to 2013, the authors analyze the entire counterfactual distributions to separate the “structure” and human capital “composition” effect. In contrast to Maasoumi and Wang (2019), the reference outcome in these decompositions is women’s observed earnings distribution, and inverse probability methods are employed, rather than the conditional quantile approaches. The authors provide decision theoretic measures of the distance between two distributions, to complement assessments based on mean, median, or particular quantiles. We assess uniform rankings of alternate distributions by tests of stochastic dominance in order to identify evaluations robust to subjective measures. Traditional moment-based measures severely underestimate the declining trend of the structure effect. Nevertheless, dominance rankings suggest that the structure (“discrimination”?) effect is bigger than human capital characteristics.