The Oxford Handbook of Human Capital

Abstract

Abstract The Oxford Handbook of Human Capital provides an authoritative, inter-disciplinary, and up-to-date survey of relevant concepts, research areas, and applications of human capital. Macroeconomic research on human capital – the stock of human capabilities and knowledge – has been extensively published but, until now, the literature had lacked a comprehensive analysis of human capital within the organization. Specially commissioned contributions from over forty authors reveal the importance of human capital for contemporary organizations, exploring its conceptual underpinnings, relevance to theories of the firm, implications for organizational effectiveness, interdependencies with other resources, and role in the future economy. Unlike neoclassical macroeconomic concepts of human capital, human capital in organizations is shown to be dynamic and heterogeneous, requiring new theories and management frameworks. The systemic role of human capital is explored, revealing it as the lynchpin of social, structural, and other forms of intangible and tangible capital. Connections between human capital and organizational performance are investigated from HR management, procurement, alignment, value appropriation, and accounting perspectives. Links between micro and macro perspectives are provided through analyses of inter-firm human capital mobility, national and regional human-capital-formation regimes, and industry employment-relations practices. The book provides an up-to-date guide to the nature and role of human capital in contemporary organizations and the roles that government, industry, and other extra-firm institutions can play in facilitating its development.