Abstract

This study investigates 84 companies in Bandung and Jakarta (Indonesia) related to business growth, human capital investment including education investment, health investment and work equipment using secondary data collection methods from related companies and in-depth interviews with 84 employees who are very familiar with the company's business operations then quantified using the autoregression moving average method. We found that investment in education and investment in health had a significant positive relationship with business growth. However, investment in work equipment is negatively related. This shows that the higher human capital in the company is related to the efficiency of investment in work equipment.

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