scholarly journals 60 Years of Human Capital Theory: Applying Classical Theory to the Analysis of the Modern Labor Market

2020 ◽  
Vol 12 (4) ◽  
pp. 34-43
Author(s):  
O. A. Ivanova
Keyword(s):  
Human Capital ◽  
Labor Market ◽  
Organizational Behavior ◽  
Empirical Studies ◽  
Interdisciplinary Approach ◽  
Integrated Approach ◽  
Human Capital Theory ◽  
Theoretical Development ◽  
Capital Theory ◽  
General Management

In this study, the author analyzes new trends in the development of the human capital theory and offers an interdisciplinary approach to the application of the human capital concept for the analysis of the modern labor market and labor relations. Over the 60 years of its existence, the theory of human capital has not only been tested in numerous empirical studies, but also received further theoretical development due to the inclusion of scientific insights from related fields, such as social psychology, organizational behavior, economic sociology, human resource management, strategic and general management. An integrated approach to the study of human capital allows us to expand our understanding of the role that an individual plays in the production process and its impact on the economic outcomes of organizational activities.

Determinants of Success in University Careers: Findings from the German Academic Labor Market / Erfolgsfaktoren in der Wissenschaft – Ergebnisse aus einer Habilitiertenbefragung an deutschen Universitäten

2013 ◽  
Vol 42 (1) ◽  
Author(s):  
Monika Jungbauer-Gans ◽  
Christiane Gross
Keyword(s):  
Human Capital ◽  
Labor Market ◽  
Citation Index ◽  
Applied Mathematics ◽  
Human Capital Theory ◽  
Occupational Prestige ◽  
Capital Theory ◽  
Academic Labor Market ◽  
Academic Labor ◽  
Number Of Publications

SummaryWhat factors determine the chances of being appointed to a chair in Germany? We propose to derive hypotheses from discrimination theory, social and human capital theory, and the signaling approach. In a survey we sampled scholars from mathematics, law and sociology who had completed their Habilitation (“second book”) from 1985 and 2005 at West German universities. A young age at the time of completion of the Habilitation is beneficial across all disciplines. In sociology, the number of publications included in the Science Citation Index is the most important factor in attaining a chair, and women are at an advantage when they face the same conditions as do men. In the field of law, parents’ years of education have a significant impact on success, as has having a highly respected mentor. In mathematics, the chances of getting a professorship increase significantly with high occupational prestige of the parents, the share of time spent in research, the specialty of applied mathematics, or having a mentor with a high reputation.

scholarly journals Determinants of the wage gap in Ecuador: analysis under a minceriano model related to dummy aggregate variables

2019 ◽  
Vol 3 (29) ◽  
pp. 70
Author(s):  
Jorge Luis López Lapo ◽  
Germania Sarmiento Castillo
Keyword(s):  
Human Capital ◽  
Labor Market ◽  
Old Age ◽  
Gender Discrimination ◽  
Wage Gap ◽  
Human Capital Theory ◽  
Labor Income ◽  
Capital Theory ◽  
Secondary Information

Introduction The Human Capital Theory exposes that inequality in labor income is due to different factors, including productivity and education. Objectiveanalyze income inequality in the Ecuadorian labor market. The research takes data from the National Employment, Unemployment and Underemployment Survey of INEC estimating the Mincerian equation (1974) by adding dummy variables.Materials and methods The research takes data of secondary information that rests in the ENEMDU survey updated to December 2018 that includes the characteristics of the EAP in Ecuador. Resultscharacterization of the gender variable, schooling positively influences their hourly wages. Discussion Regarding the gender variable, this long term of not correcting the salary differences may have an impact on old age. ConclusionsWhen there is gender discrimination, it is imperative to identify and quantify the jobs and professions to which women have access in a lesser proportion.

scholarly journals Human capital or signaling? Differences in skills distributions and the labor market disadvantage of less-educated adults across 21 countries

2016 ◽  
Author(s):  
Jan Paul Heisig ◽  
Maurice Gesthuizen ◽  
Heike Solga
Keyword(s):  
Human Capital ◽  
Labor Market ◽  
Occupational Status ◽  
Human Capital Theory ◽  
Capital Theory ◽  
Individual Level ◽  
Country Level ◽  
National Differences ◽  
Educational Credentials ◽  
Cross Country

Less-educated adults bear the highest risk of labor market marginalization in all advanced economies, but the extent of their disadvantage differs considerably across countries. Exploiting unique data on the actual skills of adults from PIAAC 2011/12, we examine two prominent explanations for this cross-country variation. Human capital theory suggests that the marginalization of less-educated individuals reflects a lack of skills. The signaling explanation emphasizes the role of educational credentials as easy-to-observe proxies for skills and productivity. It suggests that the skills distribution of educational groups can affect their labor market position beyond any individual-level effect of skills by influencing the signaling value or “skills transparency” of educational credentials. Applying a two-step regression approach to a sample of 48,033 adults in 21 countries, we find support for both explanations. Consistent with human capital theory, literacy and numeracy skills are positively related to occupational status at the individual level and partly account for cross-national differences in the labor market disadvantage of less-educated adults. Yet, cross-country variation remains considerable even after controlling for skills and further key observables. Consistent with the signaling account, country-level regressions show that the remaining variation is related to two direct measures of skills transparency: the aggregate skills differential between less- and intermediate-educated adults and the internal homogeneity of these groups. We also find that the labor market disadvantage of less-educated adults increases with the vocational orientation of secondary education, presumably reflecting individual- and aggregate-level effects of occupation-specific skills, which were not assessed in PIAAC.

scholarly journals Human capital, screening theory and education in agriculture

2008 ◽  
Vol 53 (No. 10) ◽  
pp. 475-478
Author(s):  
A. Soukup
Keyword(s):  
Human Capital ◽  
Labor Market ◽  
Economic Analysis ◽  
Human Capital Theory ◽  
Equilibrium States ◽  
Point Of View ◽  
Production Factor ◽  
Specific Production ◽  
Capital Theory ◽  
Filter Theory

Human capital theory views education as a specific production factor and as a specific sort of capital. Besides this theory, alternative concepts of education were developed. Filter theory which is interested in the selective function of education and created a different point of view of economic analysis phenomena in education. Screening theory is similar and is interested in information of labor market attendants and their deciding. Signal equilibrium states are better or worse according to Pareto’s efficiency and according to the higher or lower difference between private and common educational returns.

scholarly journals Achievements against problems: for 60th anniversary of human capital theory

2021 ◽  
Vol 2021 (4) ◽  
pp. 7-14
Author(s):  
Elena Viktorovna Krasova
Keyword(s):  
Human Capital ◽  
Labor Market ◽  
Capital Accumulation ◽  
Human Capital Theory ◽  
60Th Anniversary ◽  
Human Capital Development ◽  
Capital Theory ◽  
Positive Effects ◽  
Structural Problems ◽  
Capital Development

The article considers the most important achievements of the human capital theory. Taking into account the theory’s versatility and ambiguity of approaches to its main theses, advisability of a systemic view on its evolution and role in modern science is indicated. The 60th anniversary of the official birth of the theory in 1962 was taken as a special reason for rethinking its achievements. There are given the main scientific human capital theory’s results, which expanded, deepened and supplemented the scientific knowledge over the period from the end XX century until the beginning of the XXI century. Among the results are the increasing importance of investments in human development, development of economic growth theories, classification and systematization of human productive qualities, development of interdisciplinary researches of human being and human capital, accumulation of empirical researches’ data bases, optimization of investment policies in different countries and regions, actualization of studying trends and problems in the field of science and education, development of futuristic ideas, extension of labor market researches, improvement of the personnel management theory and methodology. It has been emphasized that the existence of modern approaches to human capital development does not mean their widespread implementation in practice: an objective reality imposed by many factors does not always contribute to the effective use of individuals’ productive qualities. For Russia there are singled out the following factors: the economy’s structural problems, imbalances in supply and demand in the labor market, discrepancy between available human capital and quality of jobs, and some other factors that can neutralize positive effects of the human capital development.

Career Development and Human Capital Theory: Preaching the “Education Gospel”

2020 ◽  
Author(s):  
Tristram Hooley
Keyword(s):  
Human Capital ◽  
Career Development ◽  
Education System ◽  
Historical Development ◽  
Human Capital Theory ◽  
Development Education ◽  
Capital Theory ◽  
Development Interventions ◽  
The Relationship ◽  
Alternative Relationships

This chapter analyses the relationship between career development, education, and human capital theory. It argues that education lies at the heart of our understanding of how individuals develop their careers and how purposeful career development interventions can support them in this endeavour. Career development services are most evident and accessible in the education system. This relationship is not accidental but is rooted in both the historical development of the field and in the importance of human capital theory to the ideology of both education and career development. The chapter finishes by critiquing the dependence of policymakers and advocates for the field on human capital theory and by considering alternative relationships that could be built between education and career development.

scholarly journals CEOs’ International Work Experience and Compensation

2021 ◽  
Author(s):  
Stefan Schmid ◽  
Sebastian Baldermann
Keyword(s):  
Human Capital ◽  
Empirical Analysis ◽  
Work Experience ◽  
Resource Dependence ◽  
Human Capital Theory ◽  
Work Experiences ◽  
Capital Theory ◽  
International Work ◽  
Executive Remuneration ◽  
To Receive

AbstractIn this paper, we study the effect a CEO’s international work experience has on his or her compensation. By combining human capital theory with a resource dependence and a resource-based perspective, we argue that international work experience translates into higher pay. We also suggest that international work experience comprises several dimensions that affect CEO compensation: duration, timing and breadth of stays abroad. With data from Europe’s largest stock market firms, we provide evidence that the longer the international work experiences and the more numerous they are, the higher a CEO’s compensation. While, based on our theoretical arguments, we expect to find that later international work experiences pay off for CEOs, our empirical analysis shows that earlier international work experiences are particularly valuable in terms of compensation. In addition, our data support the argument that maturity allows a CEO to take advantage of the skills, knowledge and competencies obtained via international experience—and to receive a higher payoff. With our study, we improve the understanding of how different facets of a CEO’s background shape executive remuneration.

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