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Author : Robert Comment
Publisher :
ISBN 13 :
Total Pages : 79 pages
Book Rating : 4.:/5 (634 download)
Download or read book The effects of firm-specific human capital on management equity investment and turnover written by Robert Comment and published by . This book was released on 1991 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Comment
Publisher :
ISBN 13 :
Total Pages : 87 pages
Book Rating : 4.:/5 (84 download)
Download or read book The Effects of Firm-specific Human Capital on Management Equity Investment and Turnover written by Robert Comment and published by . This book was released on 1985 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Years of firm-specific experience is used as a proxy for the magnitude of managerial quasi-rents associated with firm-specific human capital. These results support the contention that managerial equity investment supplements labor market competition for purposes of controlling managerial incentives and behavior when managerial labor markets are not populated by perfect substitutes.
Author : Edward P. Lazear
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 ( download)
Download or read book Firm-specific Human Capital written by Edward P. Lazear and published by . This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: One problem with the theory of firm-specific human capital is that it is difficult to generate convincing examples of investment that could generate the sometimes observed large and continuing effects on earnings. Another approach, called the skill-weights' view, allows all skills to be general in that there are other firms that use each of the skills. But firms use them in different combinations and with different weights attached to them. The skill-weights view not only has aesthetic appeal, but is consistent with the frequently observed large tenure effects. All of the implications of the traditional view are produced by this approach, and there are a number of other implications that distinguish the new view from the traditional one. The empirical evidence already contains some support for the skill-weights view.
Author : Rita Almeida
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4./5 ( download)
Download or read book The Return to Firm Investment in Human Capital written by Rita Almeida and published by World Bank Publications. This book was released on 2006 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper the authors estimate the rate of return to firm investments in human capital in the form of formal job training. They use a panel of large firms with unusually detailed information on the duration of training, the direct costs of training, and several firm characteristics such as their output, workforce characteristics, and capital stock. Their estimates of the return to training vary substantially across firms. On average it is -7 percent for firms not providing training and 24 percent for those providing training. Formal job training is a good investment for many firms and the economy, possibly yielding higher returns than either investments in physical capital or investments in schooling. In spite of this, observed amounts of formal training are small.
Author : Jon Ingham
Publisher : Routledge
ISBN 13 : 0750681349
Total Pages : 398 pages
Book Rating : 4.7/5 (56 download)
Download or read book Strategic Human Capital Management written by Jon Ingham and published by Routledge. This book was released on 2006 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: A blueprint for managing people and organizations in the 21st century.
Author : Margaret M. Blair
Publisher : Brookings Institution Press
ISBN 13 : 0815723628
Total Pages : 408 pages
Book Rating : 4.8/5 (157 download)
Download or read book The New Relationship written by Margaret M. Blair and published by Brookings Institution Press. This book was released on 2002-07-31 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Human capital and organizational capital are increasingly important as a source of value in many firms. But even as this is happening, organizational forms and employment relationships appear to be changing in ways that reduce loyalty and commitment and encourage mobility on the part of employees. Are these changes consistent in ways that contradict traditional theory and wisdom, or is the corporate sector getting a temporary boost in earnings by restructuring and cutting payrolls; but failing to make necessary new investments in human capital? The essays in this book provide intriguing new evidence on these questions. The contributors quantify the degree to which job stability is declining, and the costs of job loss to long-term workers; provide historical perspective on today's workplace changes; explore the reasons why work is being reorganized and decisionmaking tasks are being pushed downward; examine the rationale for and effect of equity-based compensation systems, both in old industries and in the newest high-tech sectors; and assess the "state of the art" of measuring and accounting for investments in human capital. This book is the result of a joint Brookings-MIT conference. In addition to the editors, authors include Eileen Appelbaum, Laurie Bassi, Avner Ben-Ner, Peter Berg, Joseph Blasi, Timothy Bresnahan, Eric Brynjolfsson, Allen Burns, Peter Cappelli, Greg Dow, Lorin Hitt, Douglas Kruse, Baruch Lev, Julia Liebeskind, Jonathon Low, Daniel McMurrer, Louis Putterman, Charles Schultze, and Anthony Siesfeld.
Author : Junaid Javaid
Publisher : GRIN Verlag
ISBN 13 : 3656762112
Total Pages : 43 pages
Book Rating : 4.6/5 (567 download)
Download or read book Human capital as an essential and measurable asset written by Junaid Javaid and published by GRIN Verlag. This book was released on 2014-10-07 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2012 in the subject Business economics - Business Management, Corporate Governance, grade: C+, University of Bedfordshire, course: MSc Finance & Business Management, language: English, abstract: This AMP is carried out as a research toward finding and relating the company’s Human Capital with its desired performance. It has also suggested the method by which the company can reliably reports its Human Capital as the strongest company’s asset in its financial statements. From the Background context of given issue the evidence looks prominent and right that in the current scenario Human Capital is considered to be as the key success factor. The Literature Review section, in relation to the definition of Human Capital, the arguments of both Becker (1993) and Davenport (1999) makes sense and also looks generous. Becker (1993) defined Human Capital as a composition of four characteristics (Credentials, Reputation, Personality and Appearance). While on the other side, Davenport (1999) made a figure of by combining all aspects (Employee effort, behaviour, ability & time) together to give final shape to undergoing definition. In relations to the measurement methods of Human Capital, there are many Scholars who came forwards and proposed different methods. It has been regarded and acknowledged that work of certain Authors: Kaplan & Norton (1992), Monti-Belkaou & Riahi-Belkaoui (1995), Brown (1999) and Weiss (1999) is prominent. Out of these four studies Monti-Belkaou & Riahi-Belkaoui (1995) took the fame as their model have both aspect: practical implementation and recognition of value added by the company’s demployed Human Capital in its overall financial performance and operational excellence. The objectives of this AMP have been achieved. From the models like Balanced Scorecard and Kaplan’s Seven Step Framework and also from the case studies like Huselid, et al (1997) and Delery & Doty, (1996), it has been cleared and understood that the company’s Human Capital has implications on its business performance (success). From the studies like Kaplan & Norton (1992), Monti-Belkaou & Riahi-Belkaoui (1995), Brown (1999) and Weiss (1999), it has illustrated that these are the certain methods by which the company could include Human Capital as the company’s most significant in its financial reporting. Out of these four studies, Monti-Belkaou & Riahi-Belkaoui (1995) took the fame. So the need of an hour is to select it as the common framework for the reporting of Human Capital as the company’s most powerful assets.
Author : Yutaro Sakai
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 ( download)
Download or read book Specific Human Capital Investment and Optimal Human Capital Portfolio written by Yutaro Sakai and published by . This book was released on 1983 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Margaret M. Blair
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (129 download)
Download or read book Firm-Specific Human Capital and Theories of the Firm written by Margaret M. Blair and published by . This book was released on 2003 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on contracting problems in firms caused by asset specificity and investment incentives, particularly the problems that arise when employees make investments in quot;firm specific human capital.quot; In such cases, employee investments will also be seriously at risk in the enterprise.Under the nexus of contracts theory of corporations, corporation law is viewed as providing a standardized solution to a central contracting problem, namely the agency problem between shareholders (who are assumed to be the quot;ownersquot; of the firm) and their hired managers. All other relationships are seen as governed by ordinary, negotiated contracts. But where employees make important specific investments, it is no longer appropriate to assume that shareholders are, and should be, the hiring party, or the quot;owners.quot; A broader view of what a firm is, and what corporation law accomplishes, is needed, one that permits exploration of why one set of participants in the firm might end up with certain control rights rather than some other set. For a firm in which such firm-specific employee investments are important, one would expect, for example, to find institutional arrangements that are central to the nature of the firm and that encourage continuity in the relationships between employees and the firm, as well as give employees the means to protect their stakes. Such institutions might include unions, severance pay, and social norms of lifetime employment, together with internal job ladders, career paths, seniority rules, and direct and formal control rights. The paper then reviews several new theories that view the firm alternately as a system of incentives, or as a nexus of specific investments. In other words, they conceptualize the firm as a mechanism for governing the relationships among all the participants (those who contribute labor as well as those who contribute capital), not just the relationship between shareholders and managers.
Author : Haig R. Nalbantian
Publisher : McGraw Hill Professional
ISBN 13 : 9780071422536
Total Pages : 300 pages
Book Rating : 4.4/5 (225 download)
Download or read book Play to Your Strengths: Managing Your Company's Internal Labor Markets for Lasting Competitive Advantage written by Haig R. Nalbantian and published by McGraw Hill Professional. This book was released on 2003-10-03 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The breakthrough approach for aligning people with strategy for higher profits.
Author : Joseph Raffiee
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Micro-Foundations of Firm-Specific Human Capital written by Joseph Raffiee and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on human capital theory, strategy scholars have emphasized firm-specific human capital as a source of sustained competitive advantage. In this study, we begin to unpack the micro-foundations of firm-specific human capital by theoretically and empirically exploring when employees perceive their skills to be firm-specific. We first develop theoretical arguments and hypotheses based on the extant strategy literature, which implicitly assumes information efficiency and unbiased perceptions of firm-specificity. We then relax these assumptions and develop alternative hypotheses rooted in the cognitive psychology literature, which highlights biases in human judgment. We test our hypotheses using two data sources from Korea and the United States. Surprisingly, our results support the hypotheses based on cognitive bias - a stark contrast to the expectations embedded within the strategy literature. Specifically, we find organizational commitment and, to some extent, tenure are negatively related to employee perceptions of the firm-specificity. We also find that employer provided on-the-job training was unrelated to perceived firm-specificity. These findings suggest that firm-specific human capital, as perceived by employees, may drive behavior in ways not anticipated by existing theory - for example, with respect to investments in skills or turnover decisions. This, in turn, may challenge the assumed relationship between firm-specific human capital and sustained competitive advantage. More broadly, our findings may suggest a need to reconsider other theories, such as transaction cost economics, that draw heavily on the notion of firm-specificity and implicitly assume widely shared and unbiased perceptions.
Author : Chong-en Bai
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (753 download)
Download or read book Specific Human Capital Investment and Turnover Under Uncertainty written by Chong-en Bai and published by . This book was released on 1994 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alan Burton-Jones
Publisher : OUP Oxford
ISBN 13 : 0191634964
Total Pages : 718 pages
Book Rating : 4.1/5 (916 download)
Download or read book The Oxford Handbook of Human Capital written by Alan Burton-Jones and published by OUP Oxford. This book was released on 2012-05-10 with total page 718 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic research on human capital - the stock of human capabilities and knowledge - has been extensively published but to date the literature has lacked a comprehensive analysis of human capital within the organization. The Oxford Handbook of Human Capital has been designed to fill that gap, providing an authoritative, inter-disciplinary, and up to date survey of relevant concepts, research areas, and applications. Specially commissioned contributions from over 40 authors reveal the importance of human capital for contemporary organizations, exploring its conceptual underpinnings, relevance to theories of the firm, implications for organizational effectiveness, interdependencies with other resources, and role in the future economy. Unlike neoclassical macroeconomic concepts of human capital, human capital in organizations is shown to be dynamic and heterogeneous, requiring new theories and management frameworks. The systemic role of human capital is explored, revealing it as the lynchpin of social, structural and other forms of intangible and tangible capital. Connections between human capital and organizational performance are investigated from HR management, procurement, alignment, value appropriation, and accounting perspectives. Links between micro and macro perspectives are provided through analyses of inter firm human capital mobility, national and regional human capital formation regimes and industry employment relations practices. This Handbook is designed for scholars and graduate students of organization and management theory, strategy, entrepreneurship, knowledge and intellectual capital, accounting, IT, HR, IR, economic sociology and cultural studies. For policy makers and practitioners it should provide an up to date guide to the nature and role of human capital in contemporary organizations and the roles that government, industry and other extra firm institutions can play in facilitating its development.
Author : John Storey
Publisher : Routledge
ISBN 13 : 131758046X
Total Pages : 222 pages
Book Rating : 4.3/5 (175 download)
Download or read book New Perspectives on Human Resource Management (Routledge Revivals) written by John Storey and published by Routledge. This book was released on 2014-11-13 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The idea of human resource management has become topical and controversial. The term suggests that people in any organization are an asset to be upgraded and fully utilized rather than merely a variable cost to be minimized. This in turn implies that the way in which people are managed is a matter of crucial strategic concern. Increased international competition has produced various initiatives world-wide for new approaches to management, in particular human resource management. This searching set of interpretations, first published in 1983, will be of interest to serious practitioners and students alike.
Author : Heli C. Wang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Effect of Managerial Bias on Employees' Specific Human Capital Investments written by Heli C. Wang and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contrary to the conventional belief that escalation of commitment by managers is detrimental, this study argues for its potential benefits. While firm-specific human capital is considered a critical element of knowledge-based resources that have the potential for superior firm performance, factors affecting the incentives for employees to make such investments are often overlooked. In the case of firms taking on risky projects, fear of project termination often reduces employees' incentives to make specific human capital investments. We argue that in this situation, the firms may find it desirable to commit to a lower probability of project termination in order to encourage the development of specific human capital by employees. Managers' escalation of commitment tendency may function as such a commitment mechanism. We find support for the key argument from the results of two experimental studies.
Author : Robert A. Hart
Publisher : Cambridge University Press
ISBN 13 : 0521453267
Total Pages : 222 pages
Book Rating : 4.5/5 (214 download)
Download or read book Human Capital, Employment and Bargaining written by Robert A. Hart and published by Cambridge University Press. This book was released on 1995-05-18 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines human capital investment, employment and bargaining at the level of the firm. It attempts the first summary of results that incorporates both human capital investment and employment decisions within firm - union bargaining models, emphasising investment in teams, or groups, of workers. The authors also examine human capital in relation to labour demand as well as the delineation between neoclassical and coalitional firms. Further, they investigate connections between, on the one hand, turnover costs and firm-specific human capital and, on the other, unemployment. Labour market policy topics recur throughout the book and include the choice between pure wage and profit sharing remuneration systems, the issue of whether training should be subsidised by governments, worksharing versus layoff decisions, payroll tax incidence and the choice of compensation system as well as the role of human capital in influencing a firm's voluntary ex ante decision as to whether or not to bargain with an established union.
Author : James L. Heskett
Publisher : Simon and Schuster
ISBN 13 : 1439136122
Total Pages : 403 pages
Book Rating : 4.4/5 (391 download)
Download or read book The Value Profit Chain written by James L. Heskett and published by Simon and Schuster. This book was released on 2010-05-11 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: James Heskett, Earl Sasser, and Leonard Schlesinger reveal powerful new evidence that paying close attention to the employee-customer relationship will enable any organization to be a low-cost provider and achieve superior results -- proving that you can have it all, a goal thought inadvisable just a few short years ago. At the heart of this bold assertion is the authors' indisputable conclusion supported by thirty-one years of groundbreaking research: today's employee satisfaction, loyalty, and commitment strongly influences tomorrow's customer satisfaction, loyalty, and commitment and ultimately the organization's profit and growth -- a quantifiable set of associations the authors call the value profit chain. In what may be the most far-reaching study ever undertaken of the strategic importance of the employee-customer relationship, Heskett, Sasser, and Schlesinger offer profound new insights into the life-long value of both employees and customers and the increasingly important concept of employee-relationship management. Readers will discover how organizations as diverse as aluminum maker Alcoa, travel agency Rosenbluth International, and the Willow Creek Community Church treat employees like customers (in the case of Willow Creek, volunteers as well). Conversely, the authors show how advertising agency Merkley Newman Harty and financial services provider ING Direct treat customers like employees, pursuing the ones they want most. At the Vanguard Group, Cisco Systems, and Southwest Airlines, both practices are common. The authors explain how these organizations and many others -- whether large or small, public or private, or not-for-profit -- achieve profitability and growth or the equivalent by leveraging results and process quality to deliver differentiated products and services at the lowest cost. Timely, essential, and important reading, The Value Profit Chain should be readily accessible on the desk of every forward-thinking manager.
