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Capital Theory (capital + theory)
Kinds of Capital Theory Selected AbstractsOvereducation in the Labour MarketJOURNAL OF ECONOMIC SURVEYS, Issue 3 2006Séamus McGuinness Abstract., This paper presents a review of the literature on overeducation. The paper assesses the consistency of overeducation within the context of a number of theoretical frameworks including Human Capital Theory (HCT) and Assignment Theory. The analysis goes on to discuss the various measurement controversies associated with the study of overeducation in order to provide an assessment of the extent to which the impacts of the phenomenon represent an economic reality as opposed to a statistical artefact. After reviewing the literature, it is concluded that the impacts of overeducation are likely to be non-trivial and that the phenomenon may potentially be costly to individuals and firms, as well as the economy more generally. The existence of overeducation also raises some doubts with respect to the validity of some of the central assumptions and predictions of HCT that are unlikely to be fully explained by gaps in the standard wage equation framework. [source] An Energy Model for Viewing Embodied Human Capital TheoryPERFORMANCE IMPROVEMENT QUARTERLY, Issue 1 2007Neil A. Kaufman Human capital development is one of the emerging areas of study with regard to social science theory, practice, and research. Arelatively new concept, human capital is described in terms of individual knowledge skills and experience. It is currently expressed as a function of education as well as a measure of economic activity. Little theory exists to establish models of individual or group human capital. By drawing upon existing physical science constructs such as embodied energy, this article applies a framework for articulating an approach to human capital development and interaction. Our proposition is that human capital consists of active and passive capacity, which parallels the theoretic dimensions of potential and kinetic energy. Aconceptual binary phase diagram of a human capital system is presented along with examples for applying the model to practice. Utilizing an economic model of resource flows; a model of embodied human capital is developed as a vehicle for sustainable human capital theory. [source] Firm-specific human capital and compensation organizational tenure profiles: An archival analysis of salary data for itHUMAN RESOURCE MANAGEMENT, Issue 3 2007Sandra A. Slaughter We examine determinants of IT compensation using archival salary data from 2,251 IT professionals in Singapore. Consistent with human capital theory, we find that professionals in IT jobs requiring more firm-specific human capital are paid more than those in jobs requiring less firm-specific human capital. Moreover, compensation increases with organizational tenure at an increasing rate for professionals in higher firm-specific human capital IT jobs, but at a decreasing rate for those in lower firm-specific human capital IT jobs. Our results reveal firm-specific human capital as a primary determinant of compensation and a moderator of IT compensation-organizational tenure profiles. © 2007 Wiley Periodicals, Inc. [source] Sources of Negative Attitudes toward Immigrants in Europe: A Multi-Level Analysis,INTERNATIONAL MIGRATION REVIEW, Issue 1 2010Elisa Rustenbach In recent times, many nations are experiencing an increase in anti-immigrant attitudes on the part of natives. Most papers only explore one or two sources of anti-immigrant attitudes at a time, which provides an incomplete picture of the effects at work. This paper tests eight different explanations for anti-immigrant attitudes: cultural marginality theory, human capital theory, political affiliation, societal integration, neighborhood safety, contact theory, foreign investment, and economic competition. Analysis is conducted using combined data from the European Social Survey and Eurostat/OECD and individual-, regional-, and national-level predictors. Results indicate that key predictors of anti-immigrant attitudes are regional and national interpersonal trust, education level, foreign direct investment, and political variables. [source] The two faces of knowledge diffusion: the Chilean caseJOURNAL OF INTERNATIONAL DEVELOPMENT, Issue 1 2006Piergiuseppe Morone This paper analyses the dynamics of return to knowledge where knowledge is acquired through the combination of interactive and individual learning. We suggest that in light of this new definition of knowledge, choosing the optimal level of education is no longer an individual exercise of present and future utility maximization as suggested by formal human capital theory. We find that other external (environmental) variables might affect the individual decision of investment. We calculate the effect of individual and interactive learning on determining the wage of Chilean male workers resident in urban areas and aged between 14 and 65. Copyright © 2005 John Wiley & Sons, Ltd. [source] Postcolonial Transitions in Africa: Decolonization in West Africa and Present Day South AfricaJOURNAL OF MANAGEMENT STUDIES, Issue 5 2010Stephanie Decker abstract Black Economic Empowerment is a highly debated issue in contemporary South Africa. Yet few South Africans realize that they are following a postcolonial trajectory already experienced by other countries. This paper presents a case study of British firms during decolonization in Ghana and Nigeria in the 1950s and 1960s, which saw a parallel development in business and society to that which occurred in South Africa in the 1990s and 2000s. Despite fundamental differences between these states, all have had to empower a majority of black citizens who had previously suffered discrimination on the basis of race. The paper employs concepts from social capital theory to show that the process of postcolonial transition in African economies has been more politically and socially disruptive than empowerment in Western countries. Historical research contributes to our understanding of the nature of institutional shocks in emerging economies. [source] Tapping Deep Pockets: The Role of Resources and Social Capital on Financial Capital Acquisition by Biotechnology Firms in Biotech,Pharma AlliancesJOURNAL OF MANAGEMENT STUDIES, Issue 8 2008Shanthi Gopalakrishnan abstract Strategic alliances with pharmaceutical firms allow small biotechnology firms to acquire needed financial capital in exchange for sharing new, cutting-edge technologies. This study draws from aspects of resource-based view and social capital theory to examine the factors that influence the extent of financial capital biotech firms acquire when forming an alliance with pharmaceutical firms. Using a sample of 184 alliances from the period 1995,2000, we found that alliances where the pharmaceutical firm has greater management control are associated with greater acquisition of financial capital by the biotech firm. We also found that the credibility of the pharmaceutical firm is positively associated with the extent of financial capital acquired by the biotechnology firm and that the number of patents that the biotech firm has is negatively associated to the financial capital the biotech firm receives. We discuss the implications of our findings for theory, research, and management practice. [source] Task knowledge overlap and knowledge variety: the role of advice network structures and impact on group effectivenessJOURNAL OF ORGANIZATIONAL BEHAVIOR, Issue 5 2008Sze-Sze Wong Drawing from the structural perspective of social capital theory, this research investigates how internal and external advice network structures influence knowledge overlap and variety and, how these knowledge dimensions in turn influence group effectiveness. Findings from two studies on knowledge-intensive groups indicate that different advice network structures are associated with knowledge overlap and knowledge variety, and only knowledge variety was significantly associated with group effectiveness. In addition, despite implicit understanding that advice networks aid performance through enhancing knowledge outcomes, only knowledge variety was found to mediate the relationship between external network and group effectiveness. Implications for theory and practice are discussed. Copyright © 2007 John Wiley & Sons, Ltd. [source] AN OBTRUSIVE REMARK ON CAPITAL AND COMPARATIVE STATICSMETROECONOMICA, Issue 1 2009Gaetano Bloise ABSTRACT We present a simple comparative statics analysis of steady-state equilibria in overlapping generations economies with capital accumulation. We regard comparative statics as paradoxical whenever an exogenous increase in saving propensity induces a decrease (an increase) in consumption at the steady state when interest rate is positive (negative). It is shown that there is an exact relation between paradoxical comparative statics and a perverse intersection of properly identified curves of demand for and supply of capital in value. The demand curve for capital in value coincides with that of neo-Ricardian analysis. We relate our conclusions to some old and recent issues in capital theory. [source] LABOUR MARKET ACTIVITY OF FOREIGN SPOUSES IN TAIWAN: EMPLOYMENT STATUS AND CHOICE OF EMPLOYMENT SECTORPACIFIC ECONOMIC REVIEW, Issue 4 2010Hwei-Lin Chuang The present study examines the employment status and choice of employment sector of female foreign spouses from Southeast Asia and Mainland China in Taiwan. The conceptual framework is based on the family labour supply model, human and social capital theory, and immigrant assimilation theory. Our findings indicate that in regard to employment status, family background variables, including the presence of small children and husbands' characteristics, play a more significant role in determining the employment probability for these foreign spouses than do human capital variables. In particular, for spouses from Southeast Asia, each additional child is correlated with a decrease in working probability of 11.3%, whereas college education has an insignificant effect on their employment probability. Employment assimilation for these marriage immigrants may be confirmed by the finding that the employment probability of foreign spouses rises rapidly with the number of years that have elapsed since migration. As for the choice of employment sector, a strong linkage between the employment sector of the foreign spouses and their husbands' employment sector is found in this study. [source] An Energy Model for Viewing Embodied Human Capital TheoryPERFORMANCE IMPROVEMENT QUARTERLY, Issue 1 2007Neil A. Kaufman Human capital development is one of the emerging areas of study with regard to social science theory, practice, and research. Arelatively new concept, human capital is described in terms of individual knowledge skills and experience. It is currently expressed as a function of education as well as a measure of economic activity. Little theory exists to establish models of individual or group human capital. By drawing upon existing physical science constructs such as embodied energy, this article applies a framework for articulating an approach to human capital development and interaction. Our proposition is that human capital consists of active and passive capacity, which parallels the theoretic dimensions of potential and kinetic energy. Aconceptual binary phase diagram of a human capital system is presented along with examples for applying the model to practice. Utilizing an economic model of resource flows; a model of embodied human capital is developed as a vehicle for sustainable human capital theory. [source] Social capital, social currency, and portable assets: The impact of residential mobility on exchanges of social supportPERSONAL RELATIONSHIPS, Issue 2 2003Lynn Magdol We examined the impact of physical distance on mobilized social capital resources. Social capital theory assumes that physical proximity and residential stability are prerequisites to social capital assets. We tested these assumptions using a two-wave panel sample from the National Survey of Families and Households consisting of respondents who experienced residential moves between waves. We found local duration since the last move to be beneficial for involvement in social exchanges. Mobility distance was related to deficits for some exchanges but not for others. Rather than a simple dichotomy between material resources that require proximity and nonmaterial resources that do not, we found that emotional and financial support are not affected by mobility distance but that tangible favors and companionship are affected negatively. Although kin exchanges are negatively affected by distant and recent mobility, nonkin exchanges are more extensive for respondents whose kin ties are more distant, suggesting a process of substitutability whereby nonkin may replace kin in the network. Our findings confirm the assumption of social capital theory about distance. They also point to the importance of adding the dimension of distance to exchange theory. Our study demonstrates that place has not lost all relevance in our highly technological postmodern society. [source] Socioeconomic status, education, and reproduction in modern women: An evolutionary perspectiveAMERICAN JOURNAL OF HUMAN BIOLOGY, Issue 5 2010Susanne Huber Although associations between status or resources and reproduction are positive in premodern societies and also in men in modern societies, in modern women the associations are typically negative. We investigated how the association between socioeconomic status and reproductive output varies with the source of status and resources, the woman's education, and her age at reproductive onset (proxied by age at marriage). By using a large sample of US women, we examined the association between a woman's reproductive output and her own and her husband's income and education. Education, income, and age at marriage are negatively associated with a woman's number of children and increase her chances of childlessness. Among the most highly educated two-thirds of the sample of women, husband's income predicts the number of children. The association between a woman's number of children and her husband's income turns from positive to negative when her education and age at marriage is low (even though her mean offspring number rises at the same time). The association between a woman's own income and her number of children is negative, regardless of education. Rather than maximizing the offspring number, these modern women seem to adjust investment in children based on their family size and resource availability. Striving for resources seems to be part of a modern female reproductive strategy,but, owing to costs of resource acquisition, especially higher education, it may lead to lower birthrates: a possible evolutionary explanation of the demographic transition, and a complement to the human capital theory of net reproductive output. Am. J. Hum. Biol. 22:578,587, 2010. © 2010 Wiley-Liss, Inc. [source] Parental education, time in paid work and time with children: an Australian time-diary analysisTHE BRITISH JOURNAL OF SOCIOLOGY, Issue 4 2006Lyn Craig Abstract How does parental education affect time in the paid workforce and time with children? Potentially, the effects are contradictory. An economic perspective suggests higher education means a pull to the market. Human capital theory predicts that, because higher education improves earning capacity, educated women face higher opportunity costs if they forego wages, so will allocate more time to market work and less to unpaid domestic labour. But education may also exercise a pull to the home. Attitudes to child rearing are subject to strong social norms, and parents with higher levels of education may be particularly receptive to the current social ideal of attentive, sustained and intensive nurturing. Using data from the Australian Bureau of Statistics Time-use Survey 1997, this study offers a snapshot of how these contradictory pulls play out in daily life. It finds that in Australia, households with university-educated parents spend more daily time with children than other households in physical care and in developmental activities. Sex inequality in care time persists, but fathers with university education do contribute more time to care of children, including time alone with them, than other fathers. Mothers with university education allocate more daily time than other mothers to both childcare and to paid work. [source] The Theory of Human Capital Revisited: on the Interaction of General and Specific Investments,THE ECONOMIC JOURNAL, Issue 514 2006Anke S. Kessler Human capital theory distinguishes between training in general-usage and firm-specific skills. Becker (1964) argues that employers will only invest in specific training, not general training, when labour markets are competitive. The article reconsiders Becker's theory. Using essentially his framework, we show that there exists an incentive complementarity between employer-sponsored general and specific training: the possibility to provide specific training leads the employer to invest in general human capital. Conversely, the latter reduces the hold-up problem that arises with firm-specific training. We also consider the desirability of institutionalised training programmes and the virtues of breach penalties, and discuss some empirical facts that could be explained by the theory. [source] Plant Exit, Vintage Capital and the Business CycleTHE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 2 2004Kjell G. Salvanes Despite the large literature on plant exit behavior, little attention has been paid to the vintage capital theory as an alternative hypothesis to learning. Learning models predict that exit rates decrease with plant age and the vintage capital theory predicts that exit rates increase with the age of capital. We use a panel of Norwegian manufacturing plants and construct an index of capital age to distinguish between the effects on exit rates. The empirical results imply that there is both a learning effect and a vintage capital effect. We also find that exit rates depend on the business cycle, and increase in severe downturns. [source] PERSPECTIVE: The World's Top Innovation Management Scholars and Their Social Capital,THE JOURNAL OF PRODUCT INNOVATION MANAGEMENT, Issue 3 2007Jeff Thieme Using 959 articles reflecting the work of 1,179 scholars, this study ranks the world's top scholars in innovation management (IM) on the basis of the number of research articles published across 14 top academic journals in technology and innovation management, marketing, and management between 1990 and 2004. Twenty-three scholars have at least eight articles in this period. Michael Song has the most (31), followed by Robert Cooper, Roger Calantone, William Souder, and Elko Kleinschmidt, who have published at least 17 articles in the 15-year period. Surprisingly, the list of schools that either trained or currently employ these top scholars is quite different from Linton's (2004) recent ranking of the top business schools in the management of technology. Guided by social capital theory, the present study analyzes the embeddedness characteristics of IM scholars to determine the extent to which social capital explains scholarly productivity. A current controversy in the social capital literature is the embeddedness characteristics that create social capital. On the one hand, the closure perspective argues that social capital results from strong relational ties with others in a dense, local neighborhood of actors who are relatively disconnected from others. On the other hand, the brokerage perspective argues that social capital is created when actors have relational ties that span these dense, local neighborhoods. The findings in the present study support both perspectives. Furthermore, the results suggest that strategic orientation is a contingency variable that clarifies the conditions in which closure- or brokerage-based embeddedness is appropriate. Specifically, scholars pursuing an entrepreneurial publication strategy are more productive when their relational embeddedness is consistent with the brokerage perspective of social capital creation, whereas scholars pursuing a focused publication strategy are more productive when their relational embeddedness is consistent with the closure perspective of social capital creation. The results have implications for both the IM scholar community and the social capital literature. Whether IM scholars are pursuing an entrepreneurial strategy that capitalizes on emergent knowledge across various theories and perspectives or pursuing a focused strategy by concentrating on gaining deep understanding of a specific stream of research, there are many avenues and opportunities for improving publication performance through the formation of new social capital. Finally, the empirical support for the contingency variable strategic orientation is consistent with recent speculation that both perspectives are important and suggests that future work should focus on further identification and clarification of contingency factors associated with them. [source] Disability and the Performance Paradox: Can Social Capital Bridge the Divide?BRITISH JOURNAL OF INDUSTRIAL RELATIONS, Issue 3 2010Kelly Williams-Whitt This research captures the physical and social experience of disability by analysing the practical performance problems that arise when an ill or injured employee returns to work, and documenting how those problems are interpreted. The grounded theory approach suggests an alternative to the traditional biomedical or social perspectives on disability. Field research reveals four themes: attendance, disciplinary history, peer interaction and task function. Managerial and co-worker perceptions were significantly affected by interactions that occurred before any disability was known to exist. Historic patterns of social exchange strongly suggest that social capital theory explains problematic work performance. [source] Lifetime Earnings, Discount Rate, Ability and the Demand for Post,compulsory Education in Men in England and WalesBULLETIN OF ECONOMIC RESEARCH, Issue 3 2002Daniel JohnsonArticle first published online: 16 DEC 200 Human capital theory suggests educational investments are made based on expected returns over the lifetime. Most other work in this field, particularly using British data, is based on demand models estimated in reduced form, with no earnings measures, or crudely constructed earnings measures, based on one or two earnings observations per individual. We present a structural model of demand for educational investment which includes estimates of earnings paths for educational options as determinants of educational choice. This provides us with directly interpretable parameter estimates. The discount rate is also determined within our demand model. Ability controlled earnings profiles are estimated by matching individuals from the General Household Survey to individuals in similar occupations from the National Child Development Survey (NCDS). Our results show that expected earnings profiles vary according to observed ability and educational choice. Results from the demand model show that expected lifetime earnings have a significant impact on educational choice. Other socio,demographic factors, particularly social class, also exhibit significant influences on the education decision. We estimate the discount rate to be lower than reported in other studies. [source] Movin' On Up: Interpreting The Earnings,Experience ProfileBULLETIN OF ECONOMIC RESEARCH, Issue 4 2000Alan Manning Human capital theory provides the generally accepted interpretation of the relationship between earnings and labour market experience, namely that general human capital tends to increase with experience. However, there are other plausible interpretations. Search models, for example, generally predict that more time in the labour market increases the chance of finding a better match and hence tends to be associated with higher earnings. This paper shows how a simple search model can be used to predict the amount of earnings growth that can be assigned to search with the residual being assigned to the human capital model. A substantial if not the larger part of the rise in earnings over the life-cycle in Britain can be explained by a simple search model, and virtually all the earnings gap between men and women can be explained in this way. Overall, the evidence suggests that we do need to reinterpret the returns to experience in earnings functions. [source] | ||||||||||||||||