the role of human resource investment in competitive advantage (case of: pharmaceutical industry)

abstract this study aims to explore the impact of human resources investment on competitive advantage that incorporates human capital as a mediator variable. for this purpose a questionnaire was designed to collect data of the research variables. validity and reliability of measurement instruments was obtained using confirmatory factor analysis. questionnaire was then distributed among a sample comprised of 300 managers of pharmaceutical companies. descriptive and structural equation model techniques were used to analyze collected data. statistical analysis of collected data resulted in acceptance of all research hypotheses, and significant relationships among research variables were also observed. based on the outcomes, from two components of human resource investment (internal and external), investment in human resources from external sources will explain further human capital variables in the level of organization and competitive advantage. moreover, components of human capital in organizations, with relatively high correlation appeared to be good predictable of competitive advantage.