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What is Human Capital Theory

Innovation and Social Capital in Organizational Ecosystems
Recognizes the HR as an important factor for creating economic value and emphasizes the labor costs relative to the ROI for developing employee skills and knowledge.
Published in Chapter:
Human Capital Development
Mazen Joureih (Cardiff Metropolitan University, UK)
Copyright: © 2019 |Pages: 19
DOI: 10.4018/978-1-5225-7721-8.ch007
The main purpose of the chapter is to provide a contemporary view of human capital (HC) based on recent research and from a theoretical perspective. Based on this, the chapter demonstrates the significance of individual knowledge, skills, and qualifications—human capital—for organizational outcomes and consequently economic growth. Although the concept of HC can be traced back to the work of Schultz with a considerable body of literature, the inherent dilemma with HC is that, unlike the organizational capital that a firm possesses, HC is an intangible asset that can simply leave and never return. Recently, an emerging stream of literature has attempted to unify both the individual and organizational level perspectives of HC and examine how they are related to competitive advantage. Given these considerations, in this chapter, HC will be viewed as a bridging concept where HC serves as a link between human resource (HR) practices and organizational performance in terms of building a worker as an asset. The chapter also presents the key approaches to HC measurement.
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Affordability and State Support for Higher Education
An economic theory that argues that government investment in education can contribute to economic growth as well as help reduce inequalities based on income and race.
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Reasons Behind a Career Change Through Vocational Education and Training: A Case of Pakistan
Human capital is concerned with knowledge and experiences of small-scale business owners.
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Digital Trends in Education Operations and Marketing
Is how the status of the employability of a person is determined within the labour markets (supply and quality).
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Return on Investment: Contrary to Popular Belief, MOOCs are not Free
The knowledge and expertise one accumulates through education and training.
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