Showing papers on "Human capital published in 2019"
TL;DR: This paper explored the effect of the amounts of natural resources, human capital, and foreign direct investment on the ecological footprint in the presence of energy consumption and economic growth using US data from 1970 to 2015.
401 citations
TL;DR: In this article, the authors focused on the need to improve rural communities' resilient capacity through adjusting their internal components' function and structure to survive the external changes in order to enhance rural resilience and build up sustaining rural communities.
303 citations
TL;DR: Policy suggestions are put forward on how to enhance the positive interaction between urbanization and economic growth and promote the construction of new green urbanization in China.
290 citations
TL;DR: In this article, the authors measure the macroeconomic consequences of the convergence of occupational distribution between white men, women, and blacks over the last 50 years and show that the changing frictions implied by the observed occupational convergence account for 15 to 20 percent of growth in aggregate output per worker since 1960.
Abstract: Over the last 50 years, there has been a remarkable convergence in the occupational distribution between white men, women, and blacks. We measure the macroeconomicconsequencesofthisconvergencethroughtheprismofaRoymodel of occupational choice in which women and blacks face frictions in the labor market and in the accumulation of human capital. The changing frictions implied by the observed occupational convergence account for 15 to 20 percent of growth in aggregate output per worker since 1960.
252 citations
TL;DR: In this paper, the authors examined the relationship between green intellectual capital and green human resource management and found that green structural capital was not significantly related to green human resources management, while green human capital and relational capital were significantly related.
241 citations
TL;DR: The results of the causality test show that human capital causes the ecological footprint without any feedback, while the relationship between economic growth and ecological footprint follows an inverted U-shaped pattern, unveiling the potential to reduce the ecological footprints by developing human capital.
Abstract: Many recent studies have focused on the influencing factors of the ecological footprint, but less attention has been given to human capital. Human capital, which is based on education and rate of return on education, may reduce the ecological footprint since environmental issues are human-induced. The current study investigates the impact of human capital on the ecological footprint in India for the period 1971 to 2014. The outcomes of the newly developed combined cointegration test of Bayer and Hanck disclose the long-run equilibrium relationship between variables. The findings reveal a significant negative contribution of human capital to the ecological footprint. The results of the causality test show that human capital Granger causes the ecological footprint without any feedback. In addition, energy consumption adds to the ecological footprint, while the relationship between economic growth and ecological footprint follows an inverted U-shaped pattern. The findings unveil the potential to reduce the ecological footprint by developing human capital.
229 citations
TL;DR: In this paper, the authors used a sample of 70 countries over the period of 2005-2015 to examine how formal and informal institutional dimensions (availability of debt and venture capital, regulatory business environment, entrepreneurial cognition and human capital, corruption, government size, government support) affect the quality and quantity of entrepreneurship between developed and developing countries.
Abstract: Entrepreneurship contributes importantly to the economy. However, differences in the quality and quantity of entrepreneurship vary significantly across developing and developed countries. We use a sample of 70 countries over the period of 2005–2015 to examine how formal and informal institutional dimensions (availability of debt and venture capital, regulatory business environment, entrepreneurial cognition and human capital, corruption, government size, government support) affect the quality and quantity of entrepreneurship between developed and developing countries. Our results demonstrate that institutions are important for both the quality and quantity of entrepreneurship. However, not all institutions play a similar role; rather, there is a dynamic relationship between institutions and economic development.
194 citations
TL;DR: In this article, the authors examined the effect of human capital on energy consumption for a panel of OECD economies over the period 1965-2014 and found that a one standard deviation increase in human capital reduces aggregate energy consumption by 15.36%.
185 citations
TL;DR: In this paper, the authors analyse the conditional effects of natural resource dependence on human capital and the quality of institutions on economic growth in Africa and show that the coupe human capital-corruption is an appropriate lever to take advantage of natural resources in Africa countries.
184 citations
TL;DR: In this paper, the authors developed a new dataset using UNESCO source materials on the location of nearly 15,000 universities in about 1,500 regions across 78 countries, some dating back to the 11th Century.
180 citations
TL;DR: In this paper, a survey of "structured" management practices in two waves of 35,000 manufacturing plants in 2010 and 2015 is presented, with an enormous dispersion of management practices across plants, with 40 percent of this variation across plants within the same frm.
Abstract: Partnering with the US Census Bureau, we implement a new survey of "structured" management practices in two waves of 35,000 manufacturing plants in 2010 and 2015. We fnd an enormous dispersion of management practices across plants, with 40 percent of this variation across plants within the same frm. Management practices account for more than 20 percent of the variation in productivity, a similar, or greater, percentage as that accounted for by R&D, ICT, or human capital. We fnd evidence of two key drivers to improve management. The business environment, as measured by right-to-work laws, boosts incentive management practices. Learning spillovers, as measured by the arrival of large "Million Dollar Plants" in the county, increases the management scores of incumbents.
TL;DR: In this article, the authors investigate the effect of pollution on worker productivity in the service sector by focusing on two call centers in China and find that higher levels of air pollution decrease worker productivity.
Abstract: We investigate the effect of pollution on worker productivity in the service sector by focusing on two call centers in China. Using precise measures of each worker's daily output linked to daily measures of pollution and meteorology, we find that higher levels of air pollution decrease worker productivity. These results manifest themselves at levels of pollution commonly found in large cities throughout the developing and developed world.
TL;DR: The authors summarized the pros and cons of different policy instruments for promoting innovation and provided a basic "toolkit" describing which policies are most effective, based on their reading of the evidence, concluding that R&D tax credits or direct public funding seem the most productive, but in the longer-run increasing the supply of human capital (e.g., relaxing immigration rules or expanding university STEM admissions) are likely more effective.
Abstract: Economic theory suggests that market economies are likely to under-provide innovation due to the public good nature of knowledge. Empirical evidence from the US and other advanced economies supports this idea. We summarize the pros and cons of different policy instruments for promoting innovation and provide a basic “toolkit” describing which policies are most effective, based on our reading of the evidence. In the short-run, R&D tax credits or direct public funding seem the most productive, but in the longer-run increasing the supply of human capital (e.g. relaxing immigration rules or expanding university STEM admissions) are likely more effective.
TL;DR: Human capital theory assumes that education determines the marginal productivity of labour and this determines earnings and has dominated the economics, and policy and public under-approximation has been studied.
Abstract: Human capital theory assumes that education determines the marginal productivity of labour and this determines earnings. Since the 1960s, it has dominated the economics, and policy and public under...
TL;DR: In this paper, the impact of human capital, which incorporates social capital, cultural capital, psychological capital, and economic capital, was explored on the undergraduate self-perception of employability.
Abstract: This study focuses on the undergraduate self-perception of employability. We aimed to explore the impact of human capital, which incorporates social capital, cultural capital, psychological capital...
TL;DR: In this paper, the authors examined the impact of globalization, natural resources, and human capital on financial development by controlling the effect of economic growth and capital in the Organization of Economic Cooperation and Development (OECD) countries.
TL;DR: Gen Z (1997-2013) is just now entering the labor market and employers need to be prepared for their arrival as discussed by the authors. While Gen Z shares many traits with the Millennial Generation, they also bring in new pa...
Abstract: Gen Z (1997-2013) is just now entering the labor market and employers need to be prepared for their arrival. While Gen Z shares many traits with the Millennial Generation, they also bring in new pa...
TL;DR: In this article, the authors examined the linkage between the dimensions of green intellectual capital (green human capital, green structural capital, and green relational capital) and business sustainability, and found that green human capital had a positive relationship with business sustainability.
TL;DR: The empirical findings show that the interaction effect of income and renewable energy contributes to CO2 emissions, and the moderating effect of economic growth helps to form the environmental Kuznets curve (EKC) hypothesis in Pakistan.
Abstract: This study contributes to the literature by estimating the interaction effects of economic growth and renewable energy consumption on carbon dioxide (CO2) emissions with the inclusion of human capital. The interaction between economic growth and renewable energy consumption suggests how income level affects energy consumption and CO2 emissions. The study applies three-stage least square and ridge regression methods with Pakistani data from 1980 to 2014. The empirical findings show that the interaction effect of income and renewable energy contributes to CO2 emissions. Besides, trade openness also increases CO2 emissions, while the human capital mitigates CO2 emissions. Furthermore, the moderating effect of economic growth helps to form the environmental Kuznets curve (EKC) hypothesis in Pakistan.
TL;DR: In this article, the authors make the link between the past and the present by using a large new dataset on regional human capital and other factors in the 19th and 20th century.
Abstract: Human capital is supposed to be an important factor for innovation and economic development. However, the long-run impact of human capital on current innovation and economic development is still a black box, in particular at the regional level. Therefore, this paper makes the link between the past and the present. Using a large new dataset on regional human capital and other factors in the 19th and 20th century, we find that past regional human capital is a key factor explaining current regional disparities in innovation and economic development.
TL;DR: This paper found that the typical top earner derives most of her income from human capital, not financial capital, and that after owner retirement or premature death, pass-through profit falls by three-quarters after owner premature death.
Abstract: How important is human capital at the top of the U.S. income distribution? A primary source of top income is private “pass-through” business profit, which can include entrepreneurial labor income for tax reasons. This paper asks whether top pass-through profit mostly reflects human capital, defined as all inalienable factors embodied in business owners, rather than financial capital. Tax data linking 11 million firms to their owners show that top pass-through profit accrues to working-age owners of closely-held, mid-market firms in skill-intensive industries. Pass-through profit falls by three-quarters after owner retirement or premature death. Classifying three-quarters of pass-through profit as human capital income, we find that the typical top earner derives most of her income from human capital, not financial capital. Growth in pass-through profit is explained by both rising productivity and a rising share of value added accruing to owners.
TL;DR: In this article, a measure of corporate purpose within a sample of U.S. companies based on approximately 500,000 survey responses of worker perceptions about their employers was constructed, and they found that this measure...
Abstract: We construct a measure of corporate purpose within a sample of U.S. companies based on approximately 500,000 survey responses of worker perceptions about their employers. We find that this measure ...
TL;DR: A model in which human capital investments occur over the life cycle and across generations, à la Becker and Tomes, can explain a wide range of intergenerational relationships while remaining empirically consistent with cross-sectional inequality.
Abstract: We present a model in which human capital investments occur over the life cycle and across generations, a la Becker and Tomes. The human capital technology features multiple stages of childhood investments, college, and life cycle accumulation. The model can explain a wide range of intergenerational relationships while remaining empirically consistent with cross-sectional inequality. Much of the latter is determined by early investments in children, so that borrowing constraints faced by young parents are important for understanding the persistence of economic status across generations. Education subsidies, especially early on, can significantly reduce the intergenerational persistence of economic status.
25 Nov 2019
TL;DR: In this paper, the authors examined and provided additional and relevant quantitative evidence on the impact of foreign direct investment (FDI) on economic growth, both in the short run and the long run in developing countries of the lower-middle-income group in 2000-2014.
Abstract: A contribution of foreign direct investment to economic growth is possibly one of the widely examined topics in academic research in the last five decades. However, few studies have examined both the short run and long run impacts of this effect concurrently for developing and emerging markets, in particular during the period of economic turmoil that includes the global financial crisis. As such, this paper examines and provides additional and relevant quantitative evidence on the impact of foreign direct investment (FDI) on economic growth, both in the short run and the long run in developing countries of the lower-middle-income group in 2000–2014. Various econometric methods are employed such as the panel-based unit root test, Johansen cointegration test, Vector Error Correction Model (VECM), and Fully Modified OLS (FMOLS) to ensure the robustness of the findings. The results of this study show that FDI helps stimulate economic growth in the long run, although it has a negative impact in the short run for the countries in this study. Other macroeconomic factors also play an important role in explaining economic growth in these countries. Money supply has a positive effect on growth in the short run while total credit for private sector has a negative effect. In addition, long-run economic growth is driven by money supply, human capital, total domestic investment, and domestic credit for the private sector. Based on these results, recommendations for the governments of these countries have been developed.
01 Oct 2019
TL;DR: In this paper, the authors address the relationship between corporate social responsibility, intellectual capital and performance, providing valuable insights and relevant evidence from a Romanian business environment, and show that, broadly speaking, Romanian entities operate on a socially responsible level, being aware of the importance and the advantages brought by both corpora-social responsibility and intellectual capital when it comes to enhancing profit, productivity and performance.
Abstract: Green and sustainable finance, corporate social responsibility and financial and non-financial performance are attracting widespread interest due to the challenging times that the business environment is currently facing. Moreover, green and sustainable finance, corporate social responsibility, and intellectual and human capital have become central issues in measuring organizations’ success, competitive advantage and influence on the marketplace. This scientific paper seeks to address the relationship between corporate social responsibility, intellectual capital and performance, providing valuable insights and relevant evidence from a Romanian business environment. The questionnaire method was used for the targeted research objectives, which referred to: (a) Romanian organizations and local community understanding of green and sustainable finance, corporate social responsibility and intellectual capital; (b) corporate social responsibility actions taken by Romanian organizations and the local community; (c) main drivers of corporate social responsibility and intellectual capital in Romanian organizations; and (d) ways to enhance financial and non-financial performance of Romanian organizations with the aid of corporate social responsibility and intellectual capital. The findings support the idea of a strong relationship between corporate social responsibility, intellectual capital and performance in the Romanian business environment. Our work shows that, broadly speaking, Romanian entities operate on a socially responsible level, being aware of the importance and the advantages brought by both corporate social responsibility and intellectual capital when it comes to enhancing profit, productivity and performance. Our results are highly encouraging and may be validated by a larger sample size.
TL;DR: Wang et al. as mentioned in this paper explored and compared the extent of intellectual capital (IC) and its four components in high-tech and non-high-tech small and medium-sized enterprises (SMEs) operating in China's manufacturing sector, and examined the relationship between IC and the performance.
Abstract: The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components in high-tech and non-high-tech small and medium-sized enterprises (SMEs) operating in China’s manufacturing sector, and to examine the relationship between IC and the performance of high-tech and non-high-tech SMEs.,The study uses the data of 116 high-tech SMEs and 380 non-high-tech SMEs listed on the Shenzhen stock exchanges during 2012–2016. The modified value added intellectual coefficient (MVAIC) model is used incorporating four components, namely, capital employed, human capital, structural capital and relational capital. Finally, multiple regression analysis is utilized to test the proposed research hypotheses.,The findings of this paper reveal that there is significant difference in MVAIC between high-tech and non-high-tech SMEs. The results further indicate a positive relationship between IC and financial performance of high-tech and non-high-tech SMEs. Specifically, IC is positively associated with firms’ earnings, profitability and operating efficiency. Additionally, capital employed efficiency, human capital efficiency and structural capital efficiency are found to be the most influential value drivers for the performance of two types of SMEs while relational capital efficiency possesses less importance.,This paper will provide a valuable framework for executives, managers and policy makers in managing IC within the Chinese context.,To the best knowledge of the authors, this is the first empirical study that has been conducted on high-tech and non-high-tech SMEs in the manufacturing sector in China.
TL;DR: Empirical evidence divulges that financial development and energy use significantly contribute to environmental degradation while renewable energy improves environmental quality by declining ecological footprint significantly.
Abstract: In recent decades, climate change and environmental pollution have been at the center of global environmental debates. Nowadays, researchers have turned their attention to the linkage between real output and environmental quality and test the environmental Kuznets curve. Majority of the studies focus on a single pollutant aspect and measure the deterioration of the environment through carbon emission (CO2) only. In contrary, the current study uses a comprehensive proxy, ecological footprint, to measure the environmental quality of the sixteen Central and Eastern European Countries (CEECs). The aim of this paper is to discover the impact of financial development, economic growth, and energy consumption (renewable and non-renewable) on the environment. In addition, for the first time, the current study includes biocapacity and human capital in the growth-energy-environment nexus in the case of CEECs. In doing so, we used annual data of sixteen CEE countries in perspective of the One Belt One Road (OBOR) initiative and cover the period of 1991-2014. For reliable findings, this study focuses on second-generation econometric approaches to check stationarity, cross-sectional dependency, and co-integration among the model parameters. The long-run estimations of the "Dynamic Seemingly Unrelated-co-integration Regression" (DSUR) signify that the effect of economic growth on ecological footprint is not stable and validate N-shaped relationship for cubic functional form between per capita income and ecological footprint (environmental quality). Empirical evidence divulges that financial development and energy use significantly contribute to environmental degradation while renewable energy improves environmental quality by declining ecological footprint significantly. Moreover, the significant effects of biocapacity and human capital are positive and negative on the ecological footprint, respectively. In robustness check through the "Feasible Generalized Least Square" (FGLS) and "Generalized Method of Moment" (GMM) models, we found consistent result. Lastly, the "Dumitrescu-Hurlin (D-H) Panel Causality Test" demonstrates that two-way causal relationship exists between EF and GDP, EF and FD, EF and EU, EF and BC, and EF and HC, while one-way causality is running from RE to EF. This study puts the present scenario of CEE economies in front of the policymakers and suggests that they should consider the vital role of renewable energy and human capital to get sustainability.
TL;DR: Wang et al. as mentioned in this paper used spatial regression partial differential method to test the resource curse hypothesis to reveal the relationship between China's economic growth and natural resources with new features in recent era of globalization.
01 Apr 2019
TL;DR: In this article, the authors examined the impact of IC performance on the profitability of Pakistani financial institutions and found that IC performance had a positive and negative impact on bank profitability, which affirms an inverted U-shaped relationship.
Abstract: The study contributes to the existing literature on intellectual capital (IC) performance and profitability by extending evidence from Pakistan. The study examines the impact of IC performance on the profitability of Pakistani financial institutions. It further examines how corporate governance, bank specific, industry specific, and country specific indicators effect Pakistani banks’ profitability. The result reports both the linear and non-linear impact of IC performance on profitability, which affirms an inverted U–shaped relationship. Among the three value added intellectual coefficient (VAIC) components, capital employed efficiency (CEE), and human capital efficiency (HCE) are found to have a significantly positive and structural capital efficiency (SCE) is found to have a significantly negative impact on bank profitability. The study notes a positive impact on profitability of factors like board independence, directors’ compensation, and higher capitalization. It reports a negative impact on profitability of factors like board size, board meetings, credit risk, industry concentration and economic growth. The results also indicate low profitability of banks during the period of government transition. The study provides insights into the important profitability drives and suggests that the impact of investment in IC on profitability is limited to an extent. The findings of this study are likely to be useful for policy makers, management, and academics.
TL;DR: In this paper, the effect of investments in human capital and corporate governance features on the market performance of Islamic banks was analyzed, and the results revealed that the Islamic banking sector is not a homogeneous group, with full-fledged Islamic banks having lax corporate governance mechanisms and large size.
Abstract: This paper offers novel insight into the Islamic banking business model by considering the effect of investments in human capital and corporate governance features on the market performance of Islamic banks. Based on a sample of 47 banks (30 full-fledged Islamic banks and 17 Islamic Shariah-windows) operating in different regions during the 2005–2010 period, and controlling for firm-specific characteristics, this paper finds investments in human capital to have a significant positive impact on the market value in the pre- and post-financial crisis period. Based on a market measure, this paper finds board size and CEO power to have a significant positive impact, while the size of Shariah Supervisory Board (SSB) has the opposite effect on market performance. The results further reveal that the Islamic banking sector is not a homogeneous group, with full-fledged Islamic banks having lax corporate governance mechanisms and large size, while their counterparts, Islamic Shariah-windows, having strong corporate governance mechanisms tend to invest more in human capital to yield positive market value. Overall, the analysis suggests that the financial crisis may have further spurred the impact of investments in human capital on the market performance.