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Book part
Publication date: 10 November 2014

Matthias Cinyabuguma, William Lord and Christelle Viauroux

This paper addresses revolutionary changes in the education, fertility and market work of U.S. families formed in the 1870s–1920s: Fertility fell from 5.3 to 2.6; the…

Abstract

This paper addresses revolutionary changes in the education, fertility and market work of U.S. families formed in the 1870s–1920s: Fertility fell from 5.3 to 2.6; the graduation rate of their children increased from 7% to 50%; and the fraction of adulthood wives devoted to market-oriented work increased from 7% to 23% (by one measure).

These trends are addressed within a unified framework to examine the ability of several proposed mechanisms to quantitatively replicate these changes. Based on careful calibration, the choices of successive generations of representative husband-and-wife households over the quantity and quality of their children, household production, and the extent of mother’s involvement in market-oriented production are simulated.

Rising wages, declining mortality, a declining gender wage gap, and increased efficiency and public provision of schooling cannot, individually or in combination, reduce fertility or increase stocks of human capital to levels seen in the data. The best fit of the model to the data also involves: (1) a decreased tendency among parents to view potential earnings of children as the property of parents and (2) rising consumption shares per dependent child.

Greater attention should be given the determinants of parental control of the work and earnings of children for this period.

One contribution is the gathering of information and strategies necessary to establish an initial baseline, and the time paths for parameters and targets for this period beset with data limitations. A second contribution is identifying the contributions of various mechanisms toward reaching those calibration targets.

Details

Factors Affecting Worker Well-being: The Impact of Change in the Labor Market
Type: Book
ISBN: 978-1-78441-150-3

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Article
Publication date: 15 August 2016

Manoj Chandra Bayon, Esteban Lafuente and Yancy Vaillant

The purpose of this paper is to examine the direct and interaction effect of individuals’ human capital input and human capital output in the form of entrepreneurial…

Abstract

Purpose

The purpose of this paper is to examine the direct and interaction effect of individuals’ human capital input and human capital output in the form of entrepreneurial self-confidence on the decision to exploit innovative opportunities.

Design/methodology/approach

Using a strategic entrepreneurship perspective, the authors suggest that when individuals with high human capital decide to exploit opportunities they do so by thinking and acting strategically. Strategic action(s) involves pursuing competitive advantages that enable a new venture to get a foothold in the market. The authors argue that such competitive advantages arise from the exploitation of innovative opportunities and individuals with high human capital are more likely to exploit innovative opportunities when they develop entrepreneurial self-confidence. The empirical analysis is based on a random sample of individuals from the adult population who are in the process of creating a new venture.

Findings

The results suggest that although human capital inputs and human capital output in the form of entrepreneurial self-confidence are significant factors in influencing the decision to exploit innovative opportunities, human capital inputs interact in different ways with human capital output in influencing this decision.

Research limitations/implications

The main limitation of the authors’ study is the use of single item measures as indicators of innovative opportunity and human capital output (entrepreneurial self-confidence).

Practical implications

From a macro-perspective, the main implication of the study is that it is possible to assess the quality of entrepreneurship in an economy through individuals’ human capital and the proportion of innovative opportunities in the economy. Moreover, because not all types of human capital inputs influences the exploitation of innovative opportunities, policy makers can be selective in their policy interventions in spawning quality entrepreneurship in their economy.

Originality/value

Based on population-level data the authors’ study provides empirical evidence of the nature of entrepreneurial decisions being at the earliest phases of the entrepreneurial process. The study shows the importance of founders’ human capital inputs and outputs in influencing the quality of entrepreneurship in an economy. Moreover, the study extends the understanding the individual-opportunity nexus in promoting innovative entrepreneurship in an economy.

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Article
Publication date: 13 December 2019

Baoping Ren and Wei Jie

Constant or decreasing returns and increasing returns to scale are two kinds of mechanism in economic growth. The goal of supply-side structural reform is to promote the…

Abstract

Purpose

Constant or decreasing returns and increasing returns to scale are two kinds of mechanism in economic growth. The goal of supply-side structural reform is to promote the establishment of the mechanism with increasing returns to scale. The paper aims to discuss this issue.

Design/methodology/approach

This paper argues that the overall economic structure of the developing economy has been divided into the sector of constant or decreasing returns to scale and the sector of increasing returns to scale due to the dual economic structure. Among them, the supply-side structural reform is mainly to reduce the sector of decreasing returns to scale and increase the sector of increasing returns to scale. Based on the hypothesis of such two-sector economic structure in the supply side of developing economies and on the industrial data, this paper empirically tests the returns to scale of China’s supply structure. The result suggests that so far the sector of constant or decreasing returns to scale dominates the supply structure of China’s economic growth, which results in the state of decreasing returns to scale in China’s overall economy.

Findings

Therefore, to realize the long-term sustained growth and transformation of the development pattern of China’s economy, the authors must carry out the supply-side structural reform, vigorously develop the modern industrial sectors characterized by modern knowledge and technology, and promote the development of an innovation-driven economy.

Originality/value

Besides, the authors must accelerate the transformation from traditional industrial sectors to modern industrial sectors, actively promote China’s industrial structure toward rationalization and high gradation, as well as build a modern industrial system so as to facilitate the formation of the mechanism of increasing returns to scale and accelerate the transformation of the driving force of China’s economic growth.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
ISSN: 2516-1652

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Article
Publication date: 1 March 2004

Hai Ming Chen and Ku Jun Lin

The purpose of this research is to deal with the human capital disclosure issue of present accounting systems. Many companies nowadays derive their competitive advantages…

Abstract

The purpose of this research is to deal with the human capital disclosure issue of present accounting systems. Many companies nowadays derive their competitive advantages mainly from human capital. However, under generally accepted accounting principles, all human‐related expenditures are treated as expenses, which are deductions of revenues, thus misleading decision‐makers into inappropriate judgments. This paper provides an alternative way of measurement and disclosure of human capital items in financial statements. The paper defines and classifies the human capital of a company in line with a theoretical framework provided by the authors, sorts out company's human capital investments according to cost development stages in human resources, isolates human capital from expenses and finally suggests disclosure in financial statements.

Details

Journal of Intellectual Capital, vol. 5 no. 1
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 April 2005

John Creedy and Norman Gemmell

This paper aims to examine the growth effects of human capital investment achieved through publicly‐provided, compulsory education, financed from income and consumption taxes.

Abstract

Purpose

This paper aims to examine the growth effects of human capital investment achieved through publicly‐provided, compulsory education, financed from income and consumption taxes.

Design/methodology/approach

Constructs an endogenous growth model for developing countries, based on human capital accumulation in which education is publicly provided and financed, and schooling is compulsory.

Findings

Public investment in human and physical capital are financed from taxes on wage and capital income, and consumption. Semi‐reduced forms are obtained to examine the equilibrium growth properties of the model, allowing the steady‐state effects of fiscal policy to be derived. The specification of the human capital production function and the strength of labour supply effects are shown to be important for the magnitude of steady‐state outcomes. Simulations illustrate the model's steady‐state and transitional dynamic properties.

Originality/value

Provides an analysis of the growth impact of state‐provided education.

Details

Journal of Economic Studies, vol. 32 no. 2
Type: Research Article
ISSN: 0144-3585

Keywords

Content available
Article
Publication date: 17 May 2018

Laura Barasa, Patrick Vermeulen, Joris Knoben, Bethuel Kinyanjui and Peter Kimuyu

Countries in Africa have a common goal policy of industrialisation that is expected to be driven by investing in innovation that yields efficiency. The purpose of this…

Abstract

Purpose

Countries in Africa have a common goal policy of industrialisation that is expected to be driven by investing in innovation that yields efficiency. The purpose of this paper is to investigate the technical efficiency effects arising from innovation inputs including internal R&D, human capital development (HCD), and foreign technology adoption in manufacturing firms in Africa.

Design/methodology/approach

This study uses cross-sectional firm-level survey data from the 2013 World Bank Enterprise Survey and the linked 2013 Innovation Follow-up Survey. A heteroscedastic half-normal stochastic frontier is used for analysing the technical efficiency effects of innovation inputs of 418 firms.

Findings

This study reveals that internal R&D, and foreign technology have negative effects on technical efficiency. Notwithstanding, the combination of foreign technology and internal R&D, and foreign technology and HCD reinforce each other’s effects on technical efficiency.

Practical implications

This study provides evidence that whereas individual innovation inputs may not yield positive efficiency outcomes, the combination of absorptive capacity enhancing inputs comprising internal R&D and HCD with foreign technology is vital for enhancing technical efficiency in manufacturing firms in Africa. This study offers important lessons for managers in manufacturing firms in Africa.

Originality/value

This study is virtually the first to investigate the relationship between innovation inputs and efficiency in Africa. This study demonstrates that investing in foreign technology in isolation from absorptive capacity enhancing innovation inputs diminishes efficiency. HCD and internal R&D are imperative for building absorptive capacity that enhances efficiency outcomes arising from foreign technology.

Details

European Journal of Innovation Management, vol. 22 no. 1
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 14 September 2010

Kirsten Martinus

The purpose of this paper is to provide conceptual foundations for a study exploring the capacity of hard infrastructure and amenities to influence the socio‐economic

Abstract

Purpose

The purpose of this paper is to provide conceptual foundations for a study exploring the capacity of hard infrastructure and amenities to influence the socio‐economic imprint of urban spaces. The paper argues that some urban developments are more economically efficient in generating innovation and knowledge than others.

Design/methodology/approach

The paper reviews the debate between urban density and infrastructure. Drawing on empirical evidence and economic production theory, it explores the spatial links between economic growth, innovation and knowledge productivity. It argues that the growing role of human capital in the production process has linked productivity to a city's mix and levels of infrastructure and amenities. It reviews five key infrastructure types for knowledge‐based developments.

Findings

This paper finds that the positive contribution of density to urban vibrancy and human connectivity is constrained by a city's infrastructure and amenity levels. It concludes that urban development cognisant of an appropriate mix and level of infrastructure and amenities will more likely enhance regional knowledge development and innovation than those which are not.

Social implications

The evidence presented in this paper has a broad range of strategic and practical socio‐economic implications, and contributes towards understanding how urban form can leverage social aspects of a city for economic growth.

Originality/value

Using an inter‐disciplinarian approach, this paper provides invaluable insights into the types of infrastructure and importance of urban form for knowledge‐based development. It contends that well‐planned knowledge‐based developments can be leveraged to ensure the successful implementation and delivery of national innovation and productivity priorities.

Details

Journal of Knowledge Management, vol. 14 no. 5
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 21 June 2018

Ajantha Velayutham and Asheq Razaur Rahman

The purpose of this paper is to empirically investigate whether an individual’s knowledge, skills and capabilities (human capital) are reflected in their compensation.

Abstract

Purpose

The purpose of this paper is to empirically investigate whether an individual’s knowledge, skills and capabilities (human capital) are reflected in their compensation.

Design/methodology/approach

Data are drawn from university academics in the Province of Ontario, Canada, earning more than CAD$100,000 per annum. Data on academics human capital are drawn from Research Gate. The authors construct a regression analysis to examine the relationship between human capital and salary.

Findings

The analyses performed indicates a positive association between academic human capital and academic salaries.

Research limitations/implications

This study is limited in that it measures an academic’s human capital solely through their research outputs as opposed to also considering their teaching outputs. Continuing research needs to be conducted in different country contexts and using negative proxies of human capital.

Practical implications

This study will create awareness about the value of human capital and its contribution towards improving organisational structural capital.

Social implications

The study contributes to the literature on human capital in accounting and business by focussing on the economic relevance of individual level human capital.

Originality/value

The study contributes to the literature on human capital in accounting and business by focussing on the economic relevance of individual level human capital. It will help create awareness of the importance of valuing human capital at the individual level.

Details

Journal of Intellectual Capital, vol. 19 no. 4
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 April 2006

Abul Hassan Farooqi

The Islamic social capital is characterised by a desire for moral values in production and networking which promotes opportunities for innovative interactions between sets…

Abstract

Purpose

The Islamic social capital is characterised by a desire for moral values in production and networking which promotes opportunities for innovative interactions between sets of agents thus forwarding the Islamic ethics. The aim of this paper is to explore the factors that drive alliance formation between labour and capital in both financial and technological forms.

Design/methodology/approach

An in‐depth study was made of developmental interventions within the Muslim community life of a village in the Birbhum district of West Bengal province in India.

Findings

Evidence shows that the strengthening of informal co‐operative networks through the inputs of technology, financial, and human capital from across different sectors constitutes an essential element in forwarding sustainable development. When the focus of the development intervention is on livelihoods and Islamic welfare accrual from common (waqf) property resources, drawing on informal networks based on Islamic ethics helps to solve problems such as free‐riding and the bottle‐neck of networking.

Orginality/value

The study shows that Islamic economic theory not only identifies circumstances in which communitarian institutions can function well, but also uncovers a dark side.

Details

Humanomics, vol. 22 no. 2
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 16 May 2008

Maiju Johanna Perälä

This paper aims to investigate whether empirical evidence for scale economies can be found across countries and if so, whether this evidence varies across the stage of development.

Abstract

Purpose

This paper aims to investigate whether empirical evidence for scale economies can be found across countries and if so, whether this evidence varies across the stage of development.

Design/methodology/approach

The paper uses statistical methods to make comparisons between countries.

Findings

The empirical results suggest overall evidence towards aggregate increasing returns across all samples. Within the Cobb‐Douglas framework, stronger evidence for aggregate increasing returns is found among samples depicting economies in the early stages of development. The CES framework in turn supports aggregate scale economies for advanced economies, while unitary elasticity of substitution cannot be rejected for less developed economies, giving further support for the Cobb‐Douglas estimates.

Research limitations/implications

Given that evidence for scale economies is found within different estimation frameworks for different groups of economies, comparative judgment is prevented. The results nevertheless provide evidence on the overall relevance of scale economies within and across groups of economies, while also giving a clear indication of the relevance of stage of development in economic growth and development analysis.

Originality/value

The most fundamental insight of the empirical results presented in this paper is that there is no reason to assume that the determinants of growth or the parameters guiding economies' adjustments towards their steady states or growth paths will be similar for economies at different stages of development, given their significant structural differences, whether in terms of production structures and characteristics or consumption patterns.

Details

Journal of Economic Studies, vol. 35 no. 2
Type: Research Article
ISSN: 0144-3585

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