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The digital economy provides companies with financial stability and highly developed technological tools to run businesses based on their operations’ transparency. Business stability is formed due to the introduction of a competence-based management system in financial organizations in the Russian corporate sector.

In terms of the digital economy as financial and technological companies, we consider large banks and other financial organizations to develop risk-oriented technologies for managing financial stability based on digitization.

The main aim of this chapter is to describe the features, the factors, and the conditions for the competence-based management development system. It highlights the role of the system for the banks and the financial technologies used by companies for sustainable development.

The authors analyzed the evolution of working from home (WFH) within industries in 12 European countries in the period 2008–2017 and studied its relationship with information and communication technologies (ICT).

The authors used data from the European Union Labour Force Survey (EU-LFS) to document the trends and levels of WFH within industries in 12 European countries. The authors further used the EU-KLEMS database and a difference-in-difference approach to study whether the fall in prices of ICT is associated with a higher share of employees who work from home in industries that depend more on ICT relative to industries that depend less.

The authors show that WFH has increased almost everywhere and that there is significant heterogeneity across industries. The authors provide evidence that the fall in prices of ICT is associated with a higher share of employees who work from home in industries that depend more on ICT relative to industries that depend less. This result also holds within age, gender and occupation groups. While the authors find no significant differences among gender and occupation groups, the positive association between the fall in ICT prices and WFH increases with age.

This paper has two main contributions: First, it reports that WFH has increased in European countries in the period 2008–2017. Second, it provides new explorations about the relationship between ICT and WFH by using the price variation of ICT.

The study investigates the influence of ChatGPT on the labor market dynamics, aiming to provide a structured understanding of the changes induced by generative AI technologies.

An analysis of existing literature serves as the foundation for understanding the impact, while the supply and demand model helps assess the effects of ChatGPT. A text-mining approach is utilized to analyze the International Standard Occupation Classification, identifying occupations most susceptible to disruption by ChatGPT.

The study reveals that 32.8% of occupations could be fully impacted by ChatGPT, while 36.5% might experience a partial impact and 30.7% are likely to remain unaffected.

While this study offers insights into the potential influence of ChatGPT and other generative AI services on the labor market, it is essential to note that these findings represent potential implications rather than realized labor market effects. Further research is needed to track actual changes in employment patterns and job market dynamics where these AI services are widely adopted.

This paper contributes to the field by systematically categorizing the level of impact on different occupations, providing a nuanced perspective on the short- and long-term implications of ChatGPT and similar generative AI services on the labor market.

The objective of this work is to determine the relationship between human capital and artisanal innovation. Nowadays, in Tonalá Jalisco, artisanal pieces are produced in an innovative way, either by using ceramic or any variant of the mud technique, but a substantial part of the business is what makes innovative business thinking possible. The Intellectus Model, created by Eduardo Bueno in 2011, is used as a reference, distinguishing intellectual capital in three types of capital. But for the purpose of this study, we have only analyzed the relationship of human capital with respect to artisanal innovation. The study was conducted in 2018 on 73 craft economic units. Using the Pearson chi-square technique and applying the Statistical Package for the Social Sciences (SPSS) program, the qualitative relationship between innovation and human capital was analyzed. The result shows a positive relationship between human capital and innovation.

Health is distributed unequally by occupation. Workers on a lower rung of the occupational ladder report worse health, have a higher probability of disability and die earlier than workers higher up the occupational hierarchy. Using a theoretical framework that unveils some of the potential mechanisms underlying these disparities, three core insights emerge: (i) there is selection into occupation on the basis of initial wealth, education and health, (ii) there will be behavioural responses to adverse working conditions, which can have compensating or reinforcing effects on health and (iii) workplace conditions increase health inequalities if workers with initially low socio-economic status choose harmful occupations and don’t offset detrimental health effects. We provide empirical illustrations of these insights using data for the Netherlands and assess the evidence available in the economics literature.

As we have entered into the twenty-first century, the economy has undergone a great transformation. The economy has literally become weightless. In the weightless economy, the emphasis has shifted from machines, materials, and other physical resources to information and knowledge. Information and knowledge are the thermonuclear competitive weapons nowadays. More and more economic activity has become invisible and intangible. The focal point in the new economy has shifted from exploration of physical objects to exploration of knowledge-based resources and their efficient and effective management. In the last decade of the twentieth century, almost unnoticed revolution in the corporate world took place: the transition from industrial capitalism, where business was based on tangible physical assets, to a new economy, where the production of goods and services and value creation in general depends and relies on invisible intangible assets. The primary objective of the present study is to build a theoretical construct in the field of evolution of knowledge asset with a view to exploration of the concept of knowledge asset and the need for its management in modern-day life. It further aims to investigate through an empirical study the qualitative disclosure of knowledge assets in terms of selected attributes for the Indian Pharmaceutical and IT Industries based on their annual reports. Content Analysis technique has been used to analyze the degree of disclosure of knowledge assets in terms of attributes.

In this chapter, we investigate two-way causality between health and the hourly wage. We employ insights from the human capital and compensating wage differential models, a panel formed from the National Longitudinal Survey of Youth 1997, and dynamic panel estimation methods in this investigation. We adopt plausible specifications in which a change in health induces a change in the wage with a lag and a change in the wage induces a change in health, also with a lag. We uncover a causal relationship between two of the five measures of health and the wage in which a reduction in health leads to an increase in the wage rate in a panel of US young adults who had completed their formal schooling by 2006 and were continuously employed from that year through 2011. There is no evidence of a causal relationship running from the wage rate to health in this panel. The former result highlights the multidimensional nature of health. It is consistent with an extension of the compensating wage differential model in which a large amount of effort in one period is required to obtain promotions and the wage increases that accompany them in subsequent periods. That effort may cause reductions in health and to a negative effect of health in the previous period on the current period wage. In this framework, employees have imperfect information about the effort requirements of a particular job when they are hired, and employers have imperfect information about the amount of effort new hirers are willing to exert. The result is also consistent with a model in which investments in career advancement compete with investments in health for time – the ultimate scarce resource. The lack of a causal effect of the wage on health may suggest that forces that go in opposite directions in the human capital and compensating wage differential models offset each other.

The aim of this chapter is to determine the relationship between labor productivity and economic development. In this context, the annual data of Turkey on a range of 1970–2017 are included in the study period. On the other hand, these data are tested with the help of Toda Yamamoto causality analysis. Thus, it will be possible to determine whether there is a strong relationship between the two variables. According to the obtained results of the analysis, it is defined that there is a causal relationship from labor productivity to economic growth in Turkey. Based on these results, it can be said that labor productivity should rise in order to increase economic development in Turkey. For this purpose, educational programs in Turkey can be revised with the help of a detailed study. In this process, cooperation with companies to understand the needs in the market plays a key role. Additionally, regulations should also be prepared related to the salaries of the employees. If it can be possible to prevent employees from receiving wages below a certain amount by placing a minimum legal limit on salaries, it will be possible to increase the motivation of the employees. This situation has a positive and significant contribution to the labor productivity.

With economic reforms increasing market competition, greater efficiency and productivity of factors of production, particularly of the workforce, have become important prerequisites for firms' growth and survival. Consequently, designing appropriate strategies to motivate the workforce in this direction appears as a critical aspect of human resource management. However, an important issue is if increase in wages, salaries, and other benefits can necessarily result in the desired outcomes. This chapter will examine this aspect. Estimating long-term trends in share of wages, salaries, and total emoluments in major industries, it is found that while the share of wages, salaries, and total emoluments has increased in recent years, such changes are not reflected in higher productivity. It is, therefore, suggested that, in addition to higher wages, salaries, and other benefits, enhancing efficiency and productivity of human resources requires adequate emphasis on human aspects as well.

We use OECD-PIAAC data to estimate the earnings effects of both years of education and of numerical skills. Our identification strategy exploits differential exposure to educational reforms across birth cohorts and countries. We find that education has the strongest earnings effect. A one standard deviation increase in years of education raises earnings by almost 22 percentage points (corresponding to a return to education above 7 percentage points), which compares with a lower percentage points return to an equivalent increase in numerical skills. Our results suggest that the same set of unobservables drives the accumulation of both formal years of education and numeracy skills. OLS estimates underestimate returns to human capital, consistently with the idea that educational reforms favor the human capital acquisition of abler children from disadvantaged parental backgrounds. When we consider numerical skills alone education reforms cannot identify any significant effect of skills on wages, however, when we jointly consider schooling and skills as endogenous factors in a recursive structure we find a significant role for skills in determining wages.