Human Capital Research Articles

Circular intellectual capital: integrating circular economy principles into intellectual capital frameworks

PurposeThe increasing importance of the circular economy has highlighted the need to incorporate circular practices into companies’ intangible assets. However, academic literature has not yet fully explored the integration of circular economy principles within intellectual capital (IC) frameworks. This study aims to fill this gap by introducing a novel construct – Circular Intellectual Capital (CIC) – that integrates circular economy principles into the broader IC framework. Specifically, it seeks to explore the extent of CIC disclosure (CICD) in non-financial reports and identify the factors influencing the level of such disclosure.Design/methodology/approachThis study develops a novel CIC framework that integrates circular economy principles into traditional IC. It then conducts a manual content analysis to assess the level of CIC information disclosed by 86 Italian listed companies from the MF Italy100 – Large and Mid Cap index through their non-financial reports. Finally, a regression model is employed to examine the determinants of CICD.FindingsThe empirical results indicate that Italian companies exhibit a low level of CICD. Moreover, the findings show that firm size and firm profitability positively influence the amount of CIC information disclosed, while financial leverage has no significant impact on CICD.Practical implicationsThis study provides practical guidance for companies on how to strengthen their CIC by integrating circular economy principles into human, organizational, and relational capital. Doing so enables firms to enhance sustainability performance, embed circularity into their strategic processes, and build capabilities for long-term value creation. Moreover, companies should actively communicate their CIC to improve transparency, reinforce stakeholder trust, and strengthen their competitive positioning in the transition to circular business models.Originality/valueThe originality of this study lies in the development of CIC, a novel construct that integrates circular economy principles into traditional IC. This innovative approach bridges two key fields – IC and the circular economy – offering new insights into how companies can align their intangible resources with sustainable and circular practices. Additionally, this study contributes to the literature by analyzing the extent of CICD and its determinants, thereby offering a fresh perspective on corporate transparency in the context of IC and circular economy initiatives.

Social capital, structural capital, human capital, spiritual capital, and cooperative performance: A path model

Cooperatives were created to foster productivity, food security, and safety. However, the literature revealed a significant number of non-operating cooperatives. It can also be noted that cooperatives have weaknesses in terms of sustainability and are unable to account for the role of intangible resources in the organization. Thus, this study investigated the effect of social capital, human capital, structural capital, and spiritual capital on cooperative performance as the basis for the strategic priorities of the cooperatives. Survey questionnaires were distributed among 201 randomly selected officers and members of six farmers’ and producers’ cooperatives in District I, Davao Oriental. Multiple regression analysis was utilized to determine the most influencing factors that affect performance, while path analysis was employed to generate the best fit model. Based on the findings, this study proposed a best fit model for cooperative performance which is based on intangible assets. In the best fit model, structural capital (0.37), social capital (0.29), and spiritual capital (0.11) showed a direct effect on cooperative performance. The model also showed that structural capital and social capital have an indirect effect on cooperative performance through spiritual capital. The findings of this paper would guide the cooperative sector to improve its performance by taking into account the role of intangible assets like structural capital, social capital, human capital, and spiritual capital, which are found to have direct and indirect effects in improving cooperative performance, thus helping the government in realizing its national economic goals.

Human resource management practices on employee performance at Kenyatta National Hospital, Nairobi City County, Kenya

The study explores the significant role of Human Resource Management (HRM) practices in shaping employee performance within healthcare settings. Grounded in Sociotechnical Systems Theory, Herzberg’s Two-Factor Theory, and Human Capital Theory, the research employs a descriptive design, collecting primary data through a structured questionnaire. The study focuses on personnel from Accident and Emergencies, Nursing, and Nutrition departments, given their vital contributions to patient care and service delivery. These departments require specialized HRM strategies tailored to their unique operational demands, allowing for an in-depth evaluation of HRM practices across diverse healthcare functions. A pilot study involving ten respondents helped refine the research instrument. Stratified random sampling was applied, with secondary data from policy documents and internal reports complementing the study. Cronbach’s alpha tested instrument reliability, aiming for a minimum threshold of 0.7. Validity was ensured through content validity, aligning questionnaire items with study objectives while establishing content, construct, and criterion validity logically and statistically. The data collection process entailed securing approvals, identifying and categorizing respondents, and distributing questionnaires. A ten-day window was given for completion, with follow-ups to maximize response rates and maintain data integrity. An in-depth analysis of KNH's HRM practices and employee performance was facilitated by this comprehensive approach, delivering important insights to healthcare management. Findings indicated that employee remuneration, management styles, recruitment and selection methods, and workplace design significantly influenced performance at Kenyatta National Hospital, Nairobi City County, Kenya. The study concludes that fair compensation enhances job satisfaction, commitment, and engagement. Transparent communication, active employee participation, and supportive leadership create a motivating work environment. Effective recruitment strategies improve the selection of candidates with the right skills, qualifications, and organizational fit. A well-structured workplace design boosts efficiency, productivity, and overall job satisfaction for healthcare professionals. Recommendations include regular assessment and adjustment of compensation packages to match industry standards and employee expectations. Hospital management should continually refine strategies to meet workforce needs.

Prabowo-Gibran's Free Nutritious Food: Impacts on Human Capital and Community Economy

This research analyzes the Free Nutritious Food (MBG) Program initiated by the Prabowo-Gibran administration as a strategic policy to combat malnutrition, enhance educational outcomes, and stimulate local economic growth. Employing a qualitative approach, the research involved in-depth interviews, participatory observation, and document analysis with key stakeholders, including policymakers, educators, nutritionists, and community members. The study identifies significant public support for the program, particularly among low-income groups who experience direct benefits in children’s health and academic focus. Consistent with human capital theory, findings confirm that improved nutrition positively influences cognitive development and school participation. However, challenges such as uneven food distribution in remote areas, infrastructural constraints, and inter-agency coordination gaps threaten the program’s effectiveness. Additionally, the large-scale budget requirement (IDR 100 trillion annually) raises concerns about long-term fiscal sustainability and potential dependency. This research highlights the need for a comprehensive strategy that integrates community empowerment, nutrition education, and inter-sectoral collaboration to optimize outcomes. The study contributes to the academic discourse on social policy in Indonesia by offering an in-depth, multidimensional evaluation and suggesting practical pathways for enhancing program sustainability. The findings have significant implications for designing inclusive, efficient, and resilient public health and education interventions.

Human capital, competitive advantage, and business performance: A study of Indonesian hospitals

Human capital, competitive advantage, and business performance: A study of Indonesian hospitals

Factors affecting foreign direct investment: Regional Variations in Factors Affecting FDI in Vietnam

The research was conducted to examine the factors that impact on the provincial-level of foreign direct investment (FDI) in Vietnam. This research makes a significant contribution by identifying the factors influencing foreign direct investment with the regional factor key focus of the study and is explored as a meaningful finding. Through statistical data of provinces and cities for the period 2010 – 2022 using the Generalized Least Squares regression, with interaction variables of 6 economy regions of Vietnam, and regional factors also play a significant role in the provincial-level determinants of foreign direct investment (FDI) in Vietnam. The results show that foreign direct investment in Vietnam is influenced by factors such as gross domestic product, production and import turnover of goods, and the quality of human capital, the number of students studying at the high school level and the proportion of the population aged 15 and older who are literate. The gross regional domestic product, trade, human capital has the positive impact on foreign investment capital flows of the provincial-level in Vietnam. Meanwhile, the interplay of regional variables including Central Coast and Central Coast, Central Highlands, Southeast inverts the effect of these factors on FDI streams, suggesting that these regions warrant particular attention for further FDI attraction. From there, the study proposes several recommendations related to the factors that affect foreign direct investment capital to encourage increased ability to attract this capital source in the future.

Association between PM2.5 air pollution and social deprivation in Western Pennsylvania.

Fine particulate matter (PM2.5) air pollution is a leading environmental cause of morbidity, premature mortality, and loss of human capital. Western Pennsylvania experiences elevated PM2.5 concentrations due to industrial and automotive emissions and a unique geography. To assess the relationship between annual mean PM2.5 concentration and social deprivation at the census block group level in the eight counties of the Pittsburgh Metropolitan Statistical Area (Allegheny, Armstrong, Beaver, Butler, Fayette, Lawrence, Washington, and Westmoreland). 2016 Aerosol Optical Depth modeled PM2.5 data were obtained at a 1 × 1 km resolution from the National Aeronautics and Space Administration Socio-Economic Data and Applications Center and spatially joined to the 2,008 census block groups that comprise the eight counties of the Pittsburgh Metropolitan Statistical Area. Using the University of Wisconsin Area Deprivation Index, census block groups were stratified into deciles ranging from 1 (least deprived) to 10 (most deprived). A pairwise comparison was conducted to examine the relationship between annual mean PM2.5 estimates and social deprivation within and across deciles. The average ambient PM2.5 concentration for the eight counties was 8.54 ± 0.46 µg/m3, with block-group concentrations ranging from 5.59 to 15.90 µg/m3. We identified a statistically significant, positive association between PM2.5 concentration and social deprivation: group 1, representing the least deprived neighborhoods, had the lowest mean PM2.5 concentration of 8.70 µg/m³. In contrast, group 10, representing the most deprived areas, had the highest mean PM2.5 concentration of 9.58 µg/m³ and was the only group with a PM2.5 concentration significantly higher than all other deciles. The association between PM2.5 exposure and social deprivation remained statistically significant, even after applying a false discovery rate correction. In Western Pennsylvania, PM2.5 exposure is significantly associated with social deprivation. Our results indicate that the relationship between PM2.5 and area deprivation in urban US Census block groups was strongest in areas with high levels of deprivation. Future policy interventions should prioritize addressing the unique needs of minority communities that are disproportionately exposed to elevated levels of air pollution.

The impact of industrial robot on green total factor energy efficiency under the "resource curse" perspective: Evidence from cities in China.

The impact of industrial robot on green total factor energy efficiency under the "resource curse" perspective: Evidence from cities in China.

How does international tourism revenue affect economic development? A perspective of human capital

How does international tourism revenue affect economic development? A perspective of human capital

Human Capital Components and Economic Development: The Relationship between Education and Health Expenditures and GDP in Selected Countries of Southeast Europe

The modern theory of economic growth and development posits that human capital is one of the main factor for economic growth as it enhances the productivity of two other classical growth factors: physical capital and labour. Also, investments in human capital accumulation are considered as important precondition for achieving higher levels of economic development. In this context, one line of emprical research is to assess the importance of the two components of human capital – education and health – in the process of economic development. In this paper, we investigate the impact of education and health on the level of economic development (measured as GDP per capita) in a sample of five Southeast European countries (Albania, Croatia, North Macedonia, Serbia and Slovenia, over the period 2000-2021.The empirical analysis relies on a cross-sectional regression using two panels (one for education - based human capital, and the other for health-based capital. Other variables in the models include lagged GDP per capita, gross fixed capital formation per capita and corruption perception index as a proxy for insitutional quality. The results from the two panel regressions indicate that spending on education and health has significant positive effects on GDP per capita. Such research results lend support to the policy prescription that public investments in education and health aimed at upgrading the quality of human capital may significantly contribute to the process of economic development.

The Influence of Intangible Assets, Financial Flexibility, and Human Capital on Sustainable Growth with Green Innovation as a Moderator

This study, titled "The Influence of Intangible Assets, Financial Flexibility, and Human Capital on Sustainable Growth with Green Innovation as a Moderator," aims to analyze the effects of intangible assets, financial flexibility, and human capital on sustainable growth within energy sector companies in Indonesia, with green innovation serving as a moderating variable. The research is driven by the challenges faced by the energy sector, such as climate change, resource scarcity, and the transition to renewable energy. A quantitative approach was applied, utilizing secondary data from financial reports of energy companies listed on the Indonesia Stock Exchange during the 2020–2023 period, analyzed using STATA software. The findings indicate that intangible assets have no significant effect on sustainable growth, whereas financial flexibility and human capital show positive and significant impacts. Additionally, green innovation strengthens the relationship between the three variables and sustainable growth. This research is expected to provide valuable insights for the development of sustainable business strategies in the energy sector.

The cascade effect of women on boards: how firm-level gender diversity management develops intellectual capital

PurposeBuilding on the resource-based view and human capital theory, this paper aims to extend the effects of gender diversity from the board level to the entire organizational level and investigates the impact of diversity and inclusion management practices on a firm’s intellectual capital performance. Conceptually, this study adopts the value-added intellectual coefficient (VAIC) construct and disentangles intellectual capital into its threefold dimensions of human capital, structural capital, and capital employed efficiency - HCE, SCE, CEE, respectively. Specifically, this study explores the effects of three categories of formalized gender diversity management practices – namely recruitment, retention, and training and development – while also considering the supporting role of governance structures and organizational infrastructures as a driver of the overall efficiency and value of intellectual capital.Design/methodology/approachThis study analyzes a sample of 72 firm-year observations associated with 36 Italian companies listed on the Stoxx Italy-45 in the 2018–2019 period and runs multiple linear regression models.FindingsOur findings indicate that a firm’s specific bundle of diversity management practices positively influences intellectual capital performance. By adopting a granular approach on both intellectual capital and diversity management, this study also sheds light on how different intellectual capital components are distinctly affected by varying diversity management practices.Originality/valueThis study enhances the understanding of how gender diversity management practices affect a firm’s intellectual capital, revealing the potential benefits of implementing formalized diversity and inclusion initiatives across multiple organizational levels, spreading from the boardroom to the entire organization.

Indonesia’s Low-Cost Carrier Competitive Landscape: An Analysis of 7 P’s

This study examines the competitive strategies of four leading low-cost carriers (LCCs) operating in Indonesia—Lion Air, Citilink Indonesia, Indonesia AirAsia, and Super Air Jet—through the lens of the 7Ps marketing mix framework. Amidst intensifying competition and evolving passenger expectations, Indonesian LCCs must now differentiate beyond price. Using a qualitative-comparative approach, the research analyzes how each airline performs across seven dimensions: Product, Price, Place, Promotion, People, Process, and Physical Evidence. Data were collected from secondary sources, including official airline websites, mobile application ratings, national transportation statistics, and the Top Brand Index 2024. Findings reveal distinct strategic postures among the carriers. Citilink and Indonesia AirAsia lead in balancing affordability with service quality and digital integration, while Super Air Jet positions itself as a youthful, brand-driven entrant. Lion Air, though dominant in market share, continues to face challenges in service consistency and customer experience. The study highlights that operational maturity, service delivery, and human capital are critical for sustained competitiveness. The analysis also demonstrates the increasing importance of customer-facing digital systems and physical branding as sources of perceived value in a low-cost context. This research contributes to the growing body of literature on service marketing in aviation and provides strategic insights for airline managers seeking differentiation in price-sensitive markets. Future studies are encouraged to integrate passenger perspectives and explore the role of sustainability in LCC strategies.

Improving accounting and internal control in vocational education institutions

This study examines the current state of accounting and internal control systems in vocational education institutions (VEIs) in Uzbekistan, comparing them with best practices from developed countries. The analysis identifies key gaps in digital integration, internal audit mechanisms, and human capital. Based on international experience, the paper proposes strategic recommendations to improve transparency, financial discipline, and institutional performance in the vocational education sector.

Job satisfaction and career adaptability through the lenses of Bourdieu’s theory of practice and theory of elites: a comparison of Hispanic and non-Hispanic communication professionals

PurposeThis study examines the social and cultural capital of mass communication practitioners using Bourdieu’s theory of practice and the theory of elites. It focuses specifically on US Hispanic and non-Hispanic practitioners to understand their experiences in the workplace and social and cultural capital as it relates to job satisfaction and career adaptability.Design/methodology/approachA total of 349 respondents completed a survey online through the Connect platform. 39.3% reported being of Hispanic origin. Measures included acculturation, familism, career adaptability, human capital (including job rank), social capital (including social networks and social trust), cultural capital (current and when growing up) and job satisfaction. Independent samples t-tests, chi-squares and multiple regression analyses were conducted.FindingsT-tests revealed significant differences between Hispanic and non-Hispanic practitioners in acculturation, career adaptability, social network, offline cultural capital, online cultural capital and cultural capital growing up. Multiple regression analysis revealed different predictors of job satisfaction for Hispanic and non-Hispanic respondents. For Hispanic respondents, familism and social trust positively predicted job satisfaction, while for non-Hispanic respondents, significant predictors for job satisfaction included career adaptability, offline cultural capital and social trust. For White practitioners, multiple regression showed that job satisfaction is predicted by career adaptability and social trust.Practical implicationsResults signal that personal background and the ability of practitioners to fit into existing organizational structures often play a pivotal role in their work satisfaction. Acculturation and social and cultural capital are relevant concepts that affect practitioners. Therefore, the study sheds light on how people are affected by their background and capital, which can increase understanding among practitioners and help organizations craft better inclusivity and recruitment policies.Originality/valueTo the best of author's knowledge, this work represents the first study on American mass communication practitioners using Bourdieu’s theory of practice, and theory of elites, which also focuses on studying social and cultural capital, job satisfaction and career adaptability.

Financial inclusion and living standards: evidence from Nepal

ABSTRACT We investigate the impact of financial inclusion on twelve different sets of expenditure domains. We use Nepal Household Risk and Vulnerability Survey (NHRVS) collected by the World Bank to investigate the impact of financial inclusion on household living standards in Nepal. To circumvent the endogeneity problem, we introduce an instrument, the ‘VDC-level borrowing ratio’, motivated by network theory popular in migration studies. Financial inclusion enhances living standards by facilitating investment in human capital, long-term assets, and agriculture.

From poverty to common prosperity: an evaluation of agricultural-cultural-tourism integration and its impact on economic growth

The integration of agriculture, culture, and tourism industries as a driver of industrial modernization has become an essential strategy during China’s transition from rapid growth to high-quality development. In pursuit of the goal of common prosperity, local governments at various levels have actively responded by attempting to promote economic growth through the integration of these three industries. Data of 126 key national rural revitalization counties in China between 2018 and 2020 is selected as the sample, and an entropy value analysis is used, this paper discusses the integration level of agriculture, culture, and tourism industries in these counties and whether such integration has promoted local economic growth. The results show that while the integration level of these industries in key rural revitalization counties has seen fluctuating growth, the overall level remains low with significant disparities across regions. Counties with higher economic development, higher human capital, and higher digitalization levels tend to have higher integration levels of agriculture, culture, and tourism industries. However, compared to ethnic counties, non-ethnic counties, despite their disadvantage in ethnic culture, have achieved rapid growth and caught up in the integration of these industries by adapting to local conditions and leveraging local features. Further analysis indicates that even though the current integration level in these counties is not high, it still promotes local economic growth. The conclusions provide insights for counties transitioning from poverty alleviation to rural revitalization. By promoting the integrated development of agriculture, culture, and tourism industries, these counties can achieve economic growth, narrow regional development gaps, and ultimately realize the goal of common prosperity.

Internship Experiences in Relation to Employment Preparedness and Skills Development among Business Administration Graduates

In today’s competitive job market, higher education institutions face increasing pressure to equip graduates with the skills and competencies needed for successful employment. This study explores the relationship between internship experiences and the employment preparedness and skills development of Business Administration graduates in the Philippines. Grounded in Experiential Learning Theory, Human Capital Theory, and Social Cognitive Theory, the research aims to determine how internship quality, relevance, and perceived value impact graduates’ job readiness, professional awareness, and adaptability. The study involved graduates from various private and public higher education institutions in the Philippines. Utilizing a descriptive-correlational design, the study surveyed 120 BSBA graduates through researcher- made questionnaires. Findings revealed that internship experiences were perceived to be of very high quality and significantly influenced job readiness and professional awareness, but had no significant relationship with the application of theoretical knowledge, adaptability, or employability. While internships were effective in enhancing workplace readiness, they alone were insufficient for comprehensive skills development. The study recommends enhancing internship structures, integrating reflective learning, and supplementing practical experiences with targeted training to ensure graduates are better equipped for dynamic work environments. It is recommended that academic institutions strengthen partnership with industry stakeholders to co-design internship programs that are both skill-enriching and career-aligned.

Population Aging and Labor Income Share: Theoretical Mechanisms and Cross-Country Evidence

Against the backdrop of intensifying global population aging and its increasingly prominent multi-faceted impacts on economic and social development, this pa-per comprehensively employs theoretical analysis and empirical research methods to conduct an in-depth investigation into the concept of labor income share and its influencing factors. Focusing on variables such as technological progress, labor market supply-demand dynamics, and human capital, it explores the relationship between population aging and labor income share. The research finds that population aging affects labor income share by altering labor market supply-demand relationships. Simultaneously, through technological progress and human capital accumulation, aging also exerts indirect influences on labor income share. Furthermore, due to differences in economic structures across countries and regions, the impact of population aging on labor income share demonstrates significant heterogeneity. These research outcomes provide im-portant theoretical and practical references for addressing labor income distri-bution issues in the context of population aging.

Decomposing socioeconomic differences in self-rated health and healthcare expenditure by chronic conditions and social determinants

BackgroundLower socioeconomic status is associated with lower self-rated health and higher healthcare expenditure. This study identifies which chronic conditions and social determinants contribute most to socioeconomic differences in self-rated health and healthcare expenditure.MethodsRegistry and survey data combining 3 socioeconomic indicators (income, education, and financial welfare), 26 social determinants, 20 chronic conditions, age, sex, self-rated health, and healthcare expenditure for 135,183 Dutch individuals aged 25–65, were linked at individual level. Oaxaca-Blinder decomposition analyses were conducted to quantify the relative contributions of chronic conditions and social determinants to socioeconomic differences in self-rated health and healthcare expenditure.ResultsPoorer self-rated health and higher healthcare expenditure among lower income groups were partly attributable to a higher prevalence of chronic conditions (33% and 70%, respectively). Acid-related disorders, cardiovascular diseases and psychological disorders contributed most to both differences in self-rated health and healthcare expenditure. Social determinants almost completely accounted for income differences in self-rated health. Social determinants explained more than the observed difference in healthcare expenditure between income groups, suggesting that, when adjusted for social determinants, lower income groups would have lower healthcare expenditure than higher income groups. Including both chronic conditions and social determinants in a single decomposition indicated that income security & social protection (28%), social & human capital (26%), and chronic conditions (23%) were equally important to income differences in self-rated health. For healthcare expenditure, chronic conditions and social determinants each accounted for approximately half of the socioeconomic differences.ConclusionsSocial determinants outside the healthcare sector accounted for almost all of the socioeconomic differences in self-rated health. This highlights the need for integrated policies across multiple domains, such as the social, economic and healthcare sector, to reduce avoidable health inequalities. Given that socioeconomic differences in healthcare expenditure were primarily associated with chronic conditions, prioritizing prevention of chronic conditions among lower socioeconomic groups can potentially reduce healthcare spending within this group and improve the healthcare system’s sustainability and affordability.