Influence of human capital on firms’ and nations’ performance. A bi-disciplinary literature review

Influence of human capital on firms’ and nations’ performance. A bi-disciplinary literature review

 

Luís Mendes, António Nunes, Tiago Sequeira

 

Keywords: human capital, economic growth, firms performance

 

Summary: Human capital theories have been developed in the last decades. The concept has been extended to the fields of economics and management and there are now clearly different approaches between these fields. In this article we narrow the gap between these different approaches, considering the contribution of human capital to the performance of nations and firms. This an innovative bi-disciplinary study of the effects of human capital on the economic performance in the broad sense, reviewing simultaneously the literature that relates human capital to economic growth, the literature that relates human resources within the firm to firms’ performance, with special focus on the quantitative predictions of different studies. From this we draw possible paths for future research in the economics and management fields. One of the most significant paths identified is the potential of using certain new variables to be collected at the macro-level that are already used at the management level.

 

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