Capital Model Research Articles

Perceived likelihood of standard employment by client organizations and the career mobility of outsourced employees: a self-driving human capital increment model

Externalized employment, aimed at reducing labor costs, is becoming increasingly prevalent. However, the effective implementation of management practices to improve the career mobility of outsourced employees remains unknown. Drawing from social cognitive theory, this study constructs a self-driven career mobility model for outsourced employees. What’s more, this study proposes the concept of differentiation in perceived organizational supports (DPOS), that is ‘the relative degree of outsourced employee’s perception of support from client organizational exceeds that from supplier organization in triangular employment relationships’, and regards it as a key boundary condition for outsourced employees to interpret the cognition of employment opportunities. Data were collected from a three-wave survey of 271 outsourced employees from 52 interorganizational teams. Results showed that the perceived likelihood of standard employment (PLSE) by client organizations positively predicts outsourced employees’ turnover intention from supplier organization. Job-related human capital development (JRHCD) and occupational self-efficacy play a chain mediating role between PLSE and turnover intention. DPOS moderates the relationship between PLSE and JRHCD, and also moderates the mediating and chain mediating effect of JRHCD and occupational self-efficacy. We discuss the implications of findings for outsourcing management research and practice.

Creative accounting in Italian public finance: Audit governance and accounting methodology

The performance of state-owned enterprises (SOE) depends on the quality of many essential services, the degree of efficiency and effectiveness of most public expenditure and, often, the financial statement of the participating admin-istrations. There are therefore numerous reasons why the financial statement of these companies should be inspired by the highest quality levels. The results of the research presented here, however, do not confirm this expectation and highlight the limitations caused by an uncritical adoption of the capital company model which, focused on measuring the economic result, proves unable to meet accountability needs generated by the public nature of the resources used and the presence of purposes of general interest.

Exploring the ascendancy of social capital in entrepreneurial behavior: new insights from mix model perspective in digital healthcare

PurposeDigital healthcare manages to grab considerable attention from people and practitioners to avoid severity and provide quick access to healthcare. Entrepreneurs also adopt the digital healthcare segment as an opportunity; nevertheless, their intentions to participate and encourage innovation in this growing sector are unexplored. Drawing upon the social capital theory and health belief model, the study examines the factors that drive entrepreneurship. A novel model is proposed to comprehend entrepreneurial intentions and behavior entrenched in social capital and other encouraging and dissuading perceptive elements with the moderation of trust in digitalization and entrepreneurial efficacy.Design/methodology/approachThe cross-sectional method is used to collect data through a questionnaire from experienced respondents in China. The valid data comprises 280 respondents, analyzed by partial least square structural equation modeling.FindingsSocial capital significantly influences monetary attitude, and perceived risk and holds an inconsequential association with perceived usefulness, whereas monetary attitude and perceived usefulness meaningfully explain entrepreneurial activities. Perceived risk has a trivial impact on entrepreneurial intention. Entrepreneurial efficacy and trust in digitalization significantly explain entrepreneurial behavior and moderate the positive relationship between intention and behavior.Originality/valueThe present research proposes a novel research model in the context of entrepreneurship rooted in a digitalized world and offering new correlates. It provides valuable insights by exploring entrepreneurial motivation and deterring factors to get involved in startup activities entrenched in social capital, providing guidelines for policymakers and practitioners to promote entrepreneurship.

Top management team social capital and business model innovation: moderating role of business ecosystem health

PurposeThis study explores the influence of the Top Management Team (TMT) social capital on business model innovation in business ecosystems.Design/methodology/approachThis study examines the impact of internal and external TMT social capital on enterprises’ business model innovation, explores the relationship between internal and external TMT social capital, and investigates how business ecosystem health moderates the relationship between external TMT social capital and enterprises’ business model innovation. These hypotheses are proposed and tested using a hierarchical regression analysis with data from 168 Chinese firms.FindingsFirst, both internal and external TMT social capital exert a significantly positive influence on an enterprise’s business model innovation. Second, internal TMT social capital positively contributes to the development of external TMT social capital, affecting business model innovation. Finally, the moderating effect of business ecosystem health on the relationship between external TMT social capital and business model innovation depends on the dimensions. Specifically, the productivity of the business ecosystem negatively moderates this relationship, whereas the niche creation capability of the business ecosystem has a positive moderating effect.Originality/valueThese findings enrich prior research on business model innovation within the business ecosystem, thoroughly exploring the critical role of TMT social capital. This study reveals the diverse impacts of internal and external TMT social capital on business model innovation and the intricate relationship between these elements. Furthermore, it emphasizes that the success of enterprise’s business model innovation within a business ecosystem depends on the alignment and adaptation to dynamic ecosystem conditions. By presenting these insights, this study provides valuable practical implications for enterprises aiming to cultivate social capital within business ecosystem to facilitate business model innovation.

Between export-led growth and administrative Keynesianism: Italy’s two-tiered growth regime

ABSTRACT Comparative political economy scholarship struggles to categorise Italy’s model of capitalism between a mixed-market economy and a hybrid, stagnant economic system. To enhance our understanding of the Italian political economy, this article employs the analytical framework of growth regimes to study Italy’s regional economic systems. Our analysis indicates that Italy can hardly be defined as a ‘national growth regime’ due to the presence of two diametrically opposed regional growth regimes: Northern regions conform to a manufacturing-based, export-led growth regime supported by competitiveness-enhancing territorial institutions; southern regions conform to a particular variety of the consumption-led growth regime, that is, an administrative Keynesianism regime, which we theorise to typify a regime where growth and employment are systematically dependent on the state’s role of employer of last resort, the state’s consumption-enhancing social policies and economic forbearance of labour and corporate tax regulations. The article suggests that studying regional growth regimes is desirable when marked internal diversity in economic outcomes or productive structures exists across regions within (generally larger) countries, and when subnational governments have powers to develop major own institutions/policies in support of regional growth regimes.

The global patent landscape of emerging infectious disease monkeypox.

Monkeypox is an emerging infectious disease with confirmed cases and deaths in several parts of the world. In light of this crisis, this study aims to analyze the global knowledge pattern of monkeypox-related patents and explore current trends and future technical directions in the medical development of monkeypox to inform research and policy. A comprehensive study of 1,791 monkeypox-related patents worldwide was conducted using the Derwent patent database by descriptive statistics, social network method and linear regression analysis. Since the 21st century, the number of monkeypox-related patents has increased rapidly, accompanied by increases in collaboration between commercial and academic patentees. Enterprises contributed the most in patent quantity, whereas the initial milestone patent was filed by academia. The core developments of technology related to the monkeypox include biological and chemical medicine. The innovations of vaccines and virus testing lack sufficient patent support in portfolios. Monkeypox-related therapeutic innovation is geographically limited with strong international intellectual property right barriers though it has increased rapidly in recent years. The transparent licensing of patent knowledge is driven by the merger and acquisition model, and the venture capital, intellectual property and contract research organization model. Currently, the patent thicket phenomenon in the monkeypox field may slow the progress of efforts to combat monkeypox. Enterprises should pay more attention to the sharing of technical knowledge, make full use of drug repurposing strategies, and promote innovation of monkeypox-related technology in hotspots of antivirals (such as tecovirimat, cidofovir, brincidofovir), vaccines (JYNNEOS, ACAM2000), herbal medicine and gene therapy.

Constructing Jural Relations in the Software Industry: Implications for Competing Capitalist Models

In 2021, the United States Supreme Court heard the case of Google vs Oracle. This case dealt with the issue of the fair use doctrine in copyright right law and how it applied in the case of software code. The distribution of rights and duties will play a critical role in the battle over the massive economic rents that exist in this sectorsimilar to the case of intangible property as discussed by John R. Commons and Thorstein Veblen in the early 20th century. We explore institutional alternatives and their underlying justifications as present in the case using the new Legal-Economic Performance framework introduced in Klammer and Scorsone (2022). We come to the unsatisfying conclusion that both alternatives feed into models of rentierism, indicating the need for new alternatives. A key point is that analysts will need to move beyond the disputants in the case under investigation and examine other institutional alternatives that are not being considered by the court to ensure a full and comprehensive analysis. 

A Turn to Export‐Led Growth? Rethinking the Growth Models in Greece and Portugal

AbstractThe global financial crisis in 2007 and, more recently, the Covid‐19 pandemic renewed interest in capitalist divergence and the evolution of growth models in the Eurozone. The varieties of capitalism (VoC) approach and more recently post‐Keynesian research, especially the growth model (GM) perspective, have made important contributions to comparative political economy. However, the focus on either the ‘supply‐side’ or ‘demand‐side’ aspects of modern models of capitalism has offered a limited framework to explain capitalist diversity in the global economy. This article brings insights from both the VoC and GM perspectives and provides a more comprehensive understanding of the evolution of the growth models in Greece and Portugal. The argument is that although both countries implemented internal devaluation and contractionary policies to curtail domestic demand and transform their economies into export‐led ones, they have been stuck in a suppressed demand‐led growth model since the global financial crisis.

Fostering the green brain capital of future generations

The uncertainty that marks adolescence and early adulthood is heightened by the simultaneous crises of mental health, education and youth unemployment. This puts the brain capital of young people under threat. We must invest in youth brain health and skills that are orientated towards environmental sustainability. This can train future creatives to develop impactful solutions to the current climate crisis as well as develop citizens who are ecologically intelligent and willing to enact environmentally sustainable and resilient behaviors. In effect, we propose a youth green brain capital model. This approach aims to refine and advance this agenda, including specific policy innovations, new investment approaches, and the development of a dashboard of instruments to track green brain capital. Our vision is to empower the next generation with ecologically intelligent leadership skills to address the pressing challenges of the climate crisis.

The Impact of Social Capital on College Students’ Entrepreneurial Behavior: A Moderated Mediation Model

Entrepreneurial behavior has been substantially addressed in entrepreneurship literature, but the mechanisms by which social capital influences entrepreneurial behavior among college students remain unclear, especially the potential mediating and moderating interplay among them. Therefore, drawing on social capital theory and the Stimulus-Organism-Response (S-O-R) model, this study proposed a moderated mediation model of social capital on entrepreneurial behavior. Sample data were collected via questionnaires from entrepreneurial team members participating in the Innovation and Entrepreneurship Competition in Southwest China. Results showed that (1) social capital has a positive impact on entrepreneurial behavior; (2) entrepreneurial passion partially mediates the relationship between social capital and entrepreneurial behavior; and (3) entrepreneurial risk perception positively moderates the relationship between entrepreneurial passion and behavior and thus enhances the mediating effect of entrepreneurial passion. This study provides insights into the internal mechanism of social capital on entrepreneurial behavior and also offers practical guidance for individuals, universities, and governments.

Gender features of human capital development in the Republic of Kazakhstan

The basis of this study was the analysis of the human capital reproductive processes in the Republic of Kazakhstan, considering the gender component. The object was the human capital of Kazakhstan’s regions, and the subject was the gender aspect of human capital development. Mincer’s supplemented human capital assessment model was the primary model for calculating human capital. Factors influencing the effective use of human capital in the regions, considering the gender component, were identified, and their indices were calculated. The analysis showed a persistent gender gap in life expectancy, education level, income, and labour market. Based on the results, leader and outsider regions in terms of the accumulated human capital level were identified. The analysis indicates the responsible attitude of the government of the Republic of Kazakhstan towards developing gender equality. Over the past ten years, Kazakhstan has advanced significantly in its efforts to empower women in the socio-political sphere. The Republic of Kazakhstan has assumed obligations under several international agreements, adopted many laws, and developed government measures critical for increasing women’s participation in government activities.

Urban community-based tourism development: A networked social capital model

The rapid and uncontrolled tourism growth has impacted local livelihoods in many cities through commodification, gentrification, and expropriation. Though community-based tourism offers a prospective development alternative, the phenomenon has been underexplored in urban contexts which are more complex than their rural counterparts. The urban dwellers who are seeking to engage in collective actions need social capital. This study deploys a qualitative ethnographic approach using an in-depth interviewing technique undertaken in three historic Bangkok communities to investigate the dual nature of social capital in promoting and impeding cooperation and collaboration. The study presents six analytical themes and the networked social capital model to explain the roles of positive and negative social capital in urban community-based tourism development.

Assessment of working capital management efficiency – a two-stage slack-based measure of data envelopment analysis

PurposeThis study aims to assess the efficiency of managing working capital in 1,388 Indian manufacturing firms from 2008 to 2019 and investigate the effects of firm-specific and macro-level determinants on working capital management (WCM) efficiency.Design/methodology/approachThe current study accommodates a slack-based measure (SBM) in data envelopment analysis (DEA) for computing WCM efficiency. Further, we implement a panel data fixed-effects model that controls for heterogeneity across firms in determining the relationships of selected variables with WCM efficiency.FindingsThe results highlight that manufacturing firms operate at around 50 percent efficiency, which is constant throughout the study period. Furthermore, among the selected variables, yield, earnings, age, size, ability to create internal resources, interest rate and gross domestic product (GDP) significantly affect WCM efficiency.Originality/valueInstead of the traditional models used for assessing efficiency, the SBM-DEA model is unit-invariant and monotone for slacks, implying that it can handle zero and negative data, which overcomes the incapability of prior DEA models. Hence, this provides accurate efficiency scores for robust analysis. Additionally, this paper provides a holistic working capital model recognizing firm-specific and macro-level determinants for a more explicit estimation of the relationship between WCM efficiency and the selected determinants.

Capital Structure Models and Contingent Convertible Securities

We implemented a methodology to calibrate capital structure models for banks that have issued contingent convertible securities (CoCos). Typical studies involving capital structure model calibration focus on non-financial firms as they have lower leverage and no contingent convertible securities. From a theoretical perspective, we found that jumps in the asset value process were necessary to obtain a satisfactory fit to the market data. In practice, contingent capital conversion triggers are discretionary, and there is considerable uncertainty around when regulators are likely to enforce conversion. The market-implied conversion triggers we obtain indicate that the market expects regulators to enforce conversion while the issuing bank is a going concern, as opposed to a gone concern. This fact is presumably of interest to potential dealers, regulators, issuers, and investors.

The Nordic Model of Capitalism

The Nordic Model of Capitalism

Design of corporate human capital value measurement model based on binary tree

The measurement process of corporate human capital value ignores the in-depth analysis of the influencing factors of value measurement, which leads to the inaccuracy of the measurement result of corporate human capital value. Therefore, taking an enterprise in Heilongjiang Province as the research object, a measurement model of enterprise human capital value based on binary tree is designed. Establish the corporate human capital value measurement index system, and initially fix the human capital value. Calculate the floating value of human capital under the complete information, and determine the influencing factors of human capital value measurement. The human capital value of enterprise under incomplete information is calculated to complete the construction of the measurement model of human capital value of enterprise based on binary tree. Taking the actual human resource performance score of an enterprise from 2019 to 2022 as an example, the experiment proved that the design model and the traditional measurement model evaluated the enterprise human resource performance, and proved that the measurement model based on binary tree was more accurate than the traditional model, and the final measurement accuracy of the design model reached 93.5%. Compared with the traditional measurement model ahead of 18.5%–10.3%, compared with the current advanced measurement model ahead of 5.2%–5.7%. The evaluation Angle in the research is slightly lacking of practical significance, and further research can carry out further evaluation on income to maximize the practical significance of the research. However, the model is evaluated from the perspective of pricing, but in real life, the value of enterprise human capital is reflected in income distribution. Therefore, if the measurement of human capital value is combined with income distribution in the next step, the research results will be closer to the actual situation and will have more practical significance.

Conceptual model of the participation of Mexican SMEs in the Stakeholder Capitalism of the post-COVID19 era

The crisis caused by COVID-19 was an event experienced globally and simultaneously, generating changes in the way people work, study, and carry out their social activities, giving the beginning of practical and theoretical conversations about the need to design and implement a new model of capitalism, oriented to the management of interest groups. The present work presents the theoretical and conceptual review related to the theoretical and conceptual constructs related to the contribution to the planet, people management, prosperity orientation, and governance factors that explain the participation of Mexican SMEs in interest group capitalism. Thus, it is shown that the process of adaptation to a "new normality" scenario will represent a factor of fundamental importance for social coexistence considering the risk represented by the effects caused by the new coronavirus, through the development of emerging strategies characterized by promoting the Adequate interaction between interested parties that constitute a model of capitalism that must equally weigh the social, economic, environmental and health dimensions for society in the long-term.

Graduate employability and international education: an exploration of foreign students’ experiences in China

ABSTRACT Despite the increasing research attention on international graduates’ employability and vocational development, most studies have focused on their employability in developed countries; little is known about their employability in developing countries such as China. In this qualitative study, 15 international graduates from two Chinese universities voluntarily participated in in-depth interviews to share their insights about how they negotiated employability in China. The study employed Bourdieu’s cultural theory, Tomlinson’s graduate capital model, and Pham’s employability agency framework as complementary conceptual frameworks. The findings revealed that international graduates in China strategically developed various capital (e.g., human, social, identity, cultural, psychological, identity, and agentic) to navigate the Chinese labour market. To some extent, the role of these capitals in the Chinese context was distinct. This study suggests that different stakeholders should collaboratively support international students in China to develop and utilise various employability capital during and after their study programme.

Job-seeking narratives: in search of graduate capitals acquired during student placements

Being a graduate is no longer sufficient to secure a fulfilling and rewarding graduate role. This paper drew on Tomlinson’s Graduate Capital Model to analyse the job-seeking narratives of recent computing graduates searching for a graduate job. Participants (n = 38), drawn from a national placement programme, were interviewed up to 12 months after they had graduated. Narrative interviews were analysed using the five graduate capitals of the Model, providing empirical evidence of the acquisition and application of graduate capitals, in particular through experiences of student work placements. The study found strong claims of human and cultural capital, arising from placement experience, while social and identity capital acquisition was found, but to a lesser extent. Fragile psychological and identity capitals were eroded by multiple unsuccessful job applications. This work empirically tested the Graduate Capital Model, contributing to understanding of capitals and their interplay.

A Qualitative Study on the Structure of Professional Psychological Capital of College Counselors in Higher Education

Through literature analysis, deep semi-structured interviews and other methods, this paper constructs the psychological capital model of college counselors' career. On the basis of the psychological capital of optimism, hope, self-confdence, tenacity and so on, it com-bines the uniqueness of college counselors occupation. Considering the special professional psychological capital such as love, enterprising, responsibility and gratitude, it forms the optimal structure dimension of college counselors professional psychological capital. The results show that college counselors professional psychological capital includes optimism, hope, self-confdence, love, tenacity, enterprising, respon-sibility, gratitude and so on.