The impact of human capital on the effectiveness of enterprises in the V4

Abstract

Purpose: Identification and assessment of the impact of human capital on the effectiveness of enterprises of the Visegrad Group (V4). Design/methodology/approach: In the theoretical part, content analysis was used - a library query on the Google Scholar website. In the empirical part, a statistical analysis was applied, which included the characteristics of the sample of selected features, the analysis of a series of correlations examining the matching of features, and the analysis of the results obtained. The collected data was compiled using descriptive statistics - average values, dynamics of changes, trend function and Pearson's correlation coefficient. Findings: In each V4 country, as the turnover of enterprises increased, the number of unemployed people with higher education decreased, and vice versa. The increase in the turnover of enterprises determined the increase in the number of research and development personnel in each country of the Visegrad Group (and vice versa). In turn, the turnover of V4 enterprises turned out to be strongly correlated with labor costs. Along with the decrease in the number of research and development personnel, as well as labor costs, the gross operating index of companies from the Visegrad Group increased. Practical implications: It was attempted to show which of the examined attributes of human capital had the greatest impact on the effectiveness of enterprises in individual V4 countries. This gives a certain field, on the one hand, to combat unemployment by applying a targeted state policy aimed at reducing its level, and on the other hand, to introduce incentives promoting the employment of R&D personnel. Limitations: Short time series containing the attributes of human capital and enterprise efficiency, as well as the lack of current and complete statistical data, which resulted in a reduced number of predictors tested. Keywords: human capital, enterprise efficiency, Visegrad Group. Category of the paper: Research paper.