The current analysis introduces human capital investments which – as all other investment projects – must be carried out given ex-ante uncertain returns. This return uncertainty reflects that particular ex-post ability realizations may or may not induce the possibility to engage in profitable entrepreneurial activity. Managed firms which recruit randomly while offering a certain wage-income can...

Education, child nutrition, adult health/nutrition, and labor mobility are critical factors in achieving recent sustained growth in factor productivity. To compare the contribution of these four human capital inputs, an expanded specification of the wage function is estimated from household (LSMS) surveys of the Ivory Coast and Ghana. Specification tests assess whether the human capital inputs ...

We develop a two-country, two-sector model of trade where the only difference between the two countries is their distribution of human capital endowments. We show that even if the two countries have identical aggregate human capital endowments the pattern of trade depends on the properties of the two human capital distributions. We also show that the two distributions of endowments also complet...

objectives: social capital is a concept developed in sociology an also used in business, organizational behavior, political science and economics. in this article the process of social capital formation in a sample of university students is reported. method: to develop an empirical model, we have assumed that individuals have two kinds of sources to form their social capitals: “identity sources...

We examine the relationship between different dimensions of the political regime in place and human capital using a two-step structural equation model. In the first step, we employ factor analysis on 16 human capital indicators to construct two new human capital measures (basic and advanced human capital). In the second step, we estimate the impact of our political variables on human capital, u...

The purpose of the present study is to investigate the relationship between intellectual capital (human capital efficiency, customer capital efficiency, and structural capital efficiency) and economic value added of the listed companies on the Tehran Stock Exchange (TSE). The population includes 39 firms selected through systematic sampling. The data is collected from the audited financial stat...

The paper outlines a new pluralistic method for analyzing, assessing and improving corporate governance structures in their traits relevant both for financial and for human capital providers. The framework seeks to enlarge the rather universalistic approach to governance structures ‘ranking’ used in the economic (principal-agent) approach, introducing sensitiveness to some relevant contingencie...

We examine the growth and welfare effects of parental leave subsidization in a life-cycle dynastic model with human capital externality. Such externality causes higher fertility, less time expenditure on child capital, lower than efficient levels. Efficient policies require subsidizing work leave, which includes labor income financed by lump-sum tax. Calibration based U.S. data implies that ful...