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Journal articles on the topic 'Capital formation theory'
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1
Ranson, Baldwin. "The Institutionalist Theory of Capital Formation." Journal of Economic Issues 21, no. 3 (September 1987): 1265–78. http://dx.doi.org/10.1080/00213624.1987.11504703.
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Impicciatore, Galeazzo, Luca Panaccione, and Francesco Ruscitti. "Walras’ theory of capital formation: an intertemporal equilibrium reformulation." Journal of Economics 106, no. 2 (September 17, 2011): 99–118. http://dx.doi.org/10.1007/s00712-011-0231-y.
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Yavorska, Oksana. "INTELLECTUAL CAPITAL IN THE ERA OF FORMATION AND DEVELOPMENT OF DIGITAL ECONOMY." Scientific Bulletin of Mukachevo State University. Series “Economics” 1(13) (2020): 129–34. http://dx.doi.org/10.31339/2313-8114-2020-1(13)-129-134.
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In a digital economy, the intellectual capital of the enterprise is the most important strategic resource at the fundamental level of modern business processes; and human and relational capital of organizations are generated in accordance with the innovative potential of the enterprise. The study is devoted to the analysis of theoretical approaches and models for studying the intellectual capital of the enterprise in the era of formation and development of the digital economy. Our research is based on objective principles of a systematic approach, economic analysis, logical approach and multimethodology. We have used a set of general and special methods in this article (they are historical method, method of analysis and synthesis, abstract-logical method, scientific abstraction) has also been used in the work. Paind 3D and XMind programs were used for graphic images. Scientists in various fields and disciplines have proposed different conceptual frameworks to identify and justify the correlation between enterprise intellectual capital and economic results at the micro level in systems theory, institutional theory, resource dependence theory and others, as well as the concept of enterprise intellectual capital. The article presents the results of a comparative analysis of the works of Ukrainian and foreign scientists, economists and experts in the management of intellectual capital of the enterprise. The model of intellectual capital of the enterprise has been offered, in which 19 elements in structure of human, structural and relational capitals of the organization have been defined. In the process of analyzing the intellectual capital of the enterprise, conclusions and proposals have been made under the prism of the specifics of the formation of its constituent elements in the era of formation and development of the digital economy. The findings, as well as an overview of approaches to assessing and measuring the intellectual capital of the enterprise can be used in developing organizational methods and improving the policy of human resources management of organizations. The leading vector of further development of intellectual capital of enterprises in the digital economy should be the design of the process of accumulation, classification, measurement and transformation of knowledge capital, as well as the development of tools presentation its elements as materialized and innovative assets. Key words: intellectual capital; knowledge; information; digital economy.
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Revutska, N., and V. Lavrenenko. "FORMATION OF ENTERPRISE INTELLECTUAL CAPITAL IN CONTEXT OF RESOURCE THEORY." Bulletin of Taras Shevchenko National University of Kyiv Economics, no. 150 (2013): 71–76. http://dx.doi.org/10.17721/1728-2667.2013/150-9/12.
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Furlan, Andrea, and Roberto Grandinetti. "Spinoffs and their endowments: beyond knowledge inheritance theory." Journal of Intellectual Capital 17, no. 3 (July 11, 2016): 570–89. http://dx.doi.org/10.1108/jic-02-2016-0023.
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Purpose – The purpose of this paper is to integrate knowledge inheritance theory with the social capital perspective to explain the initial endowments of spinoffs. Design/methodology/approach – The authors maintain that social capital plays a crucial part, both as a mechanism supporting the generation of intellectual capital prior to a spinoff’s foundation, and as an endowment that complements this capital once the spinoff is founded. Knowledge inheritance remains a fundamental mechanism for the formation of a spinoff’s intellectual capital. Its other endowment, social capital, derives from three types of relationship that future entrepreneurs develop within, through and outside their parent firm, all three of which are crucial to the formation of a spinoff’s intellectual capital. Findings – The first result of the theoretical research is an integrative framework of a spinoff’s endowments. Moreover, the authors apply this framework to address two key research questions in the spinoff literature, i.e. whether spinoffs can differ from their parents in terms of intellectual capital; and why spinoffs tend to co-locate near their parents, in geographical clusters. The integrative approach helps to tackle these questions. Originality/value – This conceptual paper offers a more comprehensive explanation of the emergence of spinoffs in terms of their initial endowments than the knowledge inheritance theory.
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Readings, B. "Cultural Capital: The Problem of Literary Canon Formation." Modern Language Quarterly 55, no. 3 (January 1, 1994): 321–26. http://dx.doi.org/10.1215/00267929-55-3-321.
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Schebesch, Klaus Bruno, and Eduardo Tomé. "Intellectual capital formation in EU cross border regions: theory and application." International Journal of Intelligent Enterprise 2, no. 2/3 (2014): 236. http://dx.doi.org/10.1504/ijie.2014.066684.
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Carrera, Andrea. "Studies in profit and capital formation: An alternative theory of distribution." Cuadernos de Economía 38, no. 106 (January 2015): 1–10. http://dx.doi.org/10.1016/j.cesjef.2014.10.001.
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Yu. Levina, Elena, Elena A. Bodina, Evgeniya G. Artemova, Aida V. Kiryakova, Elena G. Matvievskaya, Tatyana N. Kriskovets, Victoria V. Ogorodnikova, and Svetlana G. Kashina. "UNIVERSITY INTELLECTUAL CAPITAL FORMATION AND DEVELOPMENT." Humanities & Social Sciences Reviews 7, no. 4 (October 8, 2019): 1100–1107. http://dx.doi.org/10.18510/hssr.2019.74150.
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Purpose of the study: One of the most important terms to solve the problems of the education system is the educational institution’s intellectual capital, which significantly transforms the role and functions of the modern educator. The purpose of the article is to identify the essence of the University's intellectual capital and to justify the trajectory of its development, due to the needs and capabilities of education stakeholders.
Methodology: Based on the methodology of education quality management the article justifies the leading role of quality education as an imperative of the University development. Intellectual capital is considered from the standpoint of organizational resources that determine the cost of the final product – the quality of education and the competitive position of the University; its development is carried out based on the project-target approach.
Results: Modern requirements for the intellectual capital of the educational organization are revealed, the role and essence of pedagogical activity of teachers of higher education institutions in its formation are shown. The importance of continuous improvement of hard and soft competencies of University teachers as a way of incrementing intellectual capital is shown. The adaptive model’s design of University teachers’ career strategies based on design-target mechanisms is presented that determines the organizational development of the University.
Applications of this study: The results determined the possibility to consider organizational and human knowledge and competence as a special type of investment to improve the functioning of the University. The recommendations for the construction of models of the University intellectual capital management are presented. The article is intended for employees of the education system, educators, researchers, and heads of the University departments.
Novelty/Originality of this study: The contribution is made to the theory of the University’s social and cognitive management based on expanding the powers of quality management in the field of intellectual capital management.
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Gadzhiev, Nazirkhan, Sergey Konovalenko, Mikhail Trofimov, Jamila Leontieva, and Khamida Akhmedova. "Management mechanism of human capital formation under a postindustrial economy." E3S Web of Conferences 164 (2020): 10005. http://dx.doi.org/10.1051/e3sconf/202016410005.
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The article is devoted to the study of unsolved problems of the human capital theory, as follows the determination of the mechanism of human capital formation, methods of economic analysis of its effectiveness and accounting costs for its formation. The authors rely on the approach to the definition of “human capital” generally accepted in the economic theory, in terms of which it is a complex of knowledge and the most important resource for sustainable development of the economy, as well as on the structural and systematic approaches, according to which the components of human contribute to the sustainable development of the economy capital acting in concert with each other. In this setting, the main unit of human capital is the member of the creative class. The authors consider a cost approach as the methodological basis for accounting and evaluating human capital in practice. As the main research methods, the authors use the model-building technique for the formation and accumulation of human capital, special methods of economic analysis and statistics. The theoretical and practical significance of the study lies in identifying the management mechanism of human capital formation and validation of the integrated assessment methods and the methods of accounting the effectiveness of the costs of developing human capital in the enterprise management system, which were tested when measuring the effectiveness of the particular enterprise’s investments in human capital.
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Dayal, Samir, and John Guillory. "Cultural Capital: The Problem of Literary Canon Formation." MELUS 21, no. 2 (1996): 165. http://dx.doi.org/10.2307/467957.
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Ширинкина, Елена, and Elena Shirinkina. "The Convergence of Knowledge to Human Capital Management in Enterprises in Management Theory." Management of the Personnel and Intellectual Resources in Russia 8, no. 1 (March 27, 2019): 15–18. http://dx.doi.org/10.12737/article_5c504bc13047f3.81304525.
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The article presents a study of the theory of the value of human capital in the context of the development of economic thought and management, provides an explication of tools for managing the human capital of an enterprise. Analysis of the formation of the theory of human capital allows us to form a system of principles of human capital management with the goal of its effective management and planning.
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Sinitsyna, V. V. "Formation and Development of the Human Potential Conception." Humanities and Social Sciences. Bulletin of the Financial University 9, no. 6 (February 10, 2020): 150–55. http://dx.doi.org/10.26794/2226-7867-2019-9-6-150-155.
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In this article, the author considers the issues of formation and development of the human potential conception. The author carried out analytical work on the study of the prerequisites for the origin of this concept, as well as considered the evolution of approaches to the definition of human capital and human potential. A fundamental factor in the formation of human capital is the definition of areas of investment in the individuals’ development. To study this issue, the author conducted an interim analysis of the investment areas in the formation and development of human capital defined by foreign and domestic researchers and presented a graphical display of the expansion areas, depending on the stages of the theory of human capital development. Based on the review and comparison of the concepts of human potential and human capital, the author reveals the content of the human potential concept in a broad sense and a narrow sense, clarified the economic meaning of the human potential concept.
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Eke, Patrick Omoruyi, Lawrence Uchenna Okoye, and Alexander Ehimare Omankhanlen. "Can Pension Reforms Moderate Inflation Expectations and Spur Savings? Evidence from Nigeria." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 18 (January 14, 2021): 324–37. http://dx.doi.org/10.37394/23207.2021.18.33.
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This paper tests the prior-savings theory which proposes that pension savings could moderate inflation, and spur long-tenured savings for fixed capital formation. An augmented Toda-Yamamoto longrun non-causality technique was used to analyze data from 1980 to 2018. The outcome reveals that pension saving has significant negative causal flow to gross fixed capital formation, while gross fixed capital formation does not drive inflation expectation. The outcome suggests that prior-savings theory does not hold in the Nigerian case, which may infer that government borrowing from pension fund has been for consumption expenditure. The results generalize many developing economies with similar financial structure. The paper recommends that borrowed pension savings be invested in infrastructures in line with prior-saving theory. Fiscal policy reforms that broaden and deepen the nexus are recommended
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Muslim, Ade Imam, and Doddy Setiawan. "Information Asymmetry, Ownership Structure and Cost of Equity Capital: The Formation for Open Innovation." Journal of Open Innovation: Technology, Market, and Complexity 7, no. 1 (January 29, 2021): 48. http://dx.doi.org/10.3390/joitmc7010048.
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Our study aims to investigate how information asymmetry and ownership structure affect cost of equity capital. For that purpose, we collected 246 issuers over 4 years for a total of 984 observations. By using panel data processing, we found that the information asymmetry we proxied through Price non-Synchronization and trading volume had an effect on the cost of equity capital. Our results also confirmed both Agency Theory and Pecking Order Theory. Both theories are in line with the conditions of the stock market in Indonesia. In addition, we found that institutional and foreign ownership structures also had an effect on the cost of equity capital. Furthermore, our results also confirmed Interest Alignment Theory and Entrenchment Theory. Our research is expected to contribute to the debate on the existence of information asymmetry and ownership structures in relation to the cost of equity capital. We also hope that it will be a valuable input for investors in considering their investment. Moreover, from the results of this study, investors can also consider foreign ownership or institutional ownership in determining their investment. In addition, stock market regulators in Indonesia can develop approaches to minimize information asymmetry and encourage foreign investors to invest in Indonesia.
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Zayakina, R. A. "University Network Capital as an Element of the City’s Social Capital." Vysshee Obrazovanie v Rossii = Higher Education in Russia 30, no. 7 (September 8, 2021): 50–59. http://dx.doi.org/10.31992/0869-3617-2021-30-7-50-59.
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The formation and development of network capital in the university brings up the issue of its influence on characteristics of the city’s social capital. The basic provisions of the network approach and the theory of social capital are used as theoretical grounds to identify such an impact. The article reveals the features of a modern university as a complex network object and the characteristics of interpersonal relationships that arise in its socio-cultural environment. These include the cultural homogeneity, formation of a joint reality, optimization of communication processes, the need for cooperation. Taking into account the revealed specificity, the network capital available to the subjects of social interaction is characterized and studied through the categories of trust and solidarity. It is determined that trust and solidarity are not only central, but necessary structural elements of the university’s network capital, first of all, because the peculiarities of the organization of network interaction dictate the preferred strategies of network behavior, into which these phenomena are embedded. Thus, being the holder of intellectual resources and a network of interpersonal connections, the university produces the effective ways to expand the city’s social capital, firstly, through a unique social network organization capable of rapid mobilization. It provides access to the formation of temporary teams with deep and versatile competencies that generate “quick trust”. Secondly, it expands the city’s social capital through impersonal trust, which convinces society that the university has some universal competence related to the life of the city and its people.
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Cervellati, Matteo, and Uwe Sunde. "Human Capital Formation, Life Expectancy, and the Process of Development." American Economic Review 95, no. 5 (November 1, 2005): 1653–72. http://dx.doi.org/10.1257/000282805775014380.
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We provide a unified theory of the transition in income, life expectancy, education, and population size from a nondeveloped environment to sustained growth. Individuals optimally trade off the time cost of education with its lifetime returns. Initially, low longevity implies a prohibitive cost for human capital formation for most individuals. A positive feedback loop between human capital and increasing longevity, triggered by endogenous skill-biased technological progress, eventually provides sufficient returns for widespread education. The transition is not based on scale effects and induces population growth despite unchanged fertility. A simulation illustrates that the dynamics fit historical data patterns.
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Drobny, Paweł. "The human as capital? A contribution to the critique of the theory of human capital." Annales. Etyka w Życiu Gospodarczym 20, no. 5 (February 12, 2017): 95–106. http://dx.doi.org/10.18778/1899-2226.20.5.08.
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In modern economic theories, human qualities are treated as autonomous production factors, which are called “human capital”. However, these theories provide no description of the relationship between human capital and the man who is its “bearer”, nor an explanation of the formation process of that capital. In the thesis, the author tries to justify it as follows: human qualities, including knowledge and skills, are an integral part of a human being, that is, they are involved in every human act. It is, therefore, wrong to analyse their economic significance in isolation from the whole structure of human activity. Through his or her action, man discovers the potential in things and relationships in the form of the possibility of using them for a particular purpose. Capital is thus realized by the human potential of things that form a system for transforming the world. In the first part of the article, a general description of human capital will be provided. In the second part, it will be criticized, while in the third part, there will be an attempt to show the proper relationship between man and capital from the perspective of personalism.
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Menner, Martin. "A Search-Theoretic Monetary Business Cycle Model with Capital Formation." Contributions in Macroeconomics 6, no. 1 (November 2, 2006): 1–36. http://dx.doi.org/10.2202/1534-6005.1384.
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Search-theory has become the main paradigm for the micro-foundation of money. But no comprehensive business cycle analysis has been undertaken yet with a search-based monetary model. This paper extends the model with divisible goods and divisible money of Shi (JET, 1998) to allow for capital formation, analyses the monetary propagation mechanism and contrasts the model's implications with US business cycle stylized facts. The propagation mechanism based on a feedback between increased search intensity and depleted inventories only survives in the presence of non-negligible capital adjustment costs. With intermediate adjustment costs the model is able to replicate fairly well the volatility and cross-correlation with output of key US time series, including sales and inventory investment.
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Chang, Hsin Hsin, Pei-Hsuan Hsieh, and Chen Su Fu. "The mediating role of sense of virtual community." Online Information Review 40, no. 7 (November 14, 2016): 882–99. http://dx.doi.org/10.1108/oir-09-2015-0304.
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Purpose The purpose of this paper is to provide a comprehensive model to illustrate the mediating role of sense of virtual community (SOVC) in virtual communities of practices (VCoPs). The interrelations between social capital and collective action in terms of knowledge contribution in the VCoP context are also examined. Design/methodology/approach A total of 253 members from the Zclub and Jorsindo, responded to the survey. PLS-SEM path modeling was used to analyze survey data. Findings Members’ structural capital and cognitive capital both positively and significantly influence members’ SOVC, and, in turn, their SOVC influences relational capital. Research limitations/implications The study linked two theories, namely, social capital and theory of collective action, to discuss knowledge contribution in VCoPs. Social capital and SOVC have significant and positive effects on knowledge contribution in VCoPs. Practical implications Knowledge contributions in VCoPs are created through interactions among members, as well as the facilitation resulting from shared visions. Administrators can promote the formation of social-interaction ties in VCoPs to reinforce the formation of social capital and a SOVC. Social implications Administrators of knowledge-oriented groups must strive to sustain proper levels of SOVC among members to ensure their continued participation in VCoPs. Originality/value The main objectives of this study were to examine the effects of social capital (structural, cognitive, and relational capitals) on the quality and quantity of knowledge contribution. SOVC was proposed as a mediator in the relationship between structural and/or cognitive capital toward relational capital.
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Hoda, Najmul, S. L. Gupta, Mobin Ahmad, and Utkarsh Gupta. "Modelling the Relationship between Linked-In Usage and Social Capital Formation." European Journal of Sustainable Development 10, no. 1 (February 1, 2021): 624. http://dx.doi.org/10.14207/ejsd.2021.v10n1p624.
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The main purpose of this study is to test if the use of social networking sites (SNSs) results in any perceived social capital for the users. Putnam’s classification of social capital into bridging and bonding social capital is used for the study. The first objective of the study was to study the demographic and behavioral profile of LinkedIn users. The second objective was to test the model describing the relationship between the constructs intensity of LinkedIn usage and the two types of social capital. A structured questionnaire that included standard scales for measuring the constructs was shared on various social media platforms. The model was analyzed using PLS-SEM in R software. The results confirmed all the three hypothesized relationships and also validated the overall model. This study contributes to the validation as well as extension of social capital theory in SNS. Further, the results throw light on the new applications of SNS by the industry.
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Iversen, Torben, and John D. Stephens. "Partisan Politics, the Welfare State, and Three Worlds of Human Capital Formation." Comparative Political Studies 41, no. 4-5 (April 2008): 600–637. http://dx.doi.org/10.1177/0010414007313117.
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The authors propose a synthesis of power resources theory and welfare production regime theory to explain differences in human capital formation across advanced democracies. Emphasizing the mutually reinforcing relationships between social insurance, skill formation, and spending on public education, they distinguish three distinct worlds of human capital formation: one characterized by redistribution and heavy investment in public education and industry-specific and occupation-specific vocational skills; one characterized by high social insurance and vocational training in firm-specific and industry-specific skills but less spending on public education; and one characterized by heavy private investment in general skills but modest spending on public education and redistribution. They trace the three worlds to historical differences in the organization of capitalism, electoral institutions, and partisan politics, emphasizing the distinct character of political coalition formation underpinning each of the three models. They also discuss the implications for inequality and labor market stratification across time and space.
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Rehman, Muhammad Atiq-ur, Suleman Ghaffar, Kanwal Shahzadi, and Rabail Ghazanfar. "Human Capital Formation and Economic Growth in Emerging Asia: Empirical Evidence Using Panel Data." Review of Applied Management and Social Sciences 3, no. 2 (September 30, 2020): 205–12. http://dx.doi.org/10.47067/ramss.v3i2.54.
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After the emergence of endogenous growth theory, the role of human capital along with physical capital is considered to be imperative in promoting economic growth. The government social sector spending, mainly on education and health, contributes in forming human capital and promotes economic growth. This study examines the impact of health and education provisions on economic growth of emerging Asian economies, including Bangladesh, China, India, Indonesia, Malaysia, Pakistan, Philippine, and Thailand. Using the data set for 1995-2018, the fixed effects (FE) and the random effect (RE) methods of panel data estimation are employed. Both methods reveal that the health and education support the human capital formation and stimulate economic growth.
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Kudelina, Olga V., and Irina B. Adova. "Development of the Human Capital Theory in the 21st Century: Megatrends and the Russian Context." Vestnik Tomskogo gosudarstvennogo universiteta. Ekonomika, no. 51 (2020): 60–87. http://dx.doi.org/10.17223/19988648/51/4.
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The authors review the development of the human capital theory with its four main stages in terms of components and the studied proxy variables: classical thoughts about investment in human capital, economic fundamental research in the field of human capital, research in the field of the theory of investment in human capital, the transformation of views on the theory of human capital. The established periodisation of the stages of human capital development shows that since 2010 a new era of human capital formation has been forming under changes in the paradigm of socioeconomic relations caused by the explosive growth of digital technologies and the pronounced individualisation of human labour, which has become less institutionalised. As a result of a bibliographic search, the authors found that more than half of the publications on human capital in the Scopus database (66.1%) cover the period from 2010 to 2020. The most active research in this area is conducted in the United States, the United Kingdom, China, Germany, and Russia. Research interests are expanding from socioeconomic sciences to computer science, engineering, the humanities, and environmental sciences.
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Fuest, Clemens, and Bernd Huber. "Tax Progression and Human Capital in Imperfect Labour Markets." German Economic Review 2, no. 1 (February 1, 2001): 1–18. http://dx.doi.org/10.1111/1468-0475.00024.
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Abstract Recent contributions to the theory of taxation argue that tax progression raises welfare and employment in the presence of labour market imperfections. This literature takes the endowment of workers with human capital as given. The present paper analyses the effects of tax progression in a model with endogenous human capital formation. We show that the effect of tax progression on human capital investment depends on the deductibility of the cost of human capital formation. With full deductibility, tax progression raises employment and welfare. With incomplete deductibility, in contrast, the effect of tax progression on employment and welfare may be negative.
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Elgin, Ceyhun. "A THEORY OF ECONOMIC DEVELOPMENT WITH ENDOGENOUS FERTILITY." Macroeconomic Dynamics 16, no. 5 (June 2, 2011): 686–705. http://dx.doi.org/10.1017/s1365100510000842.
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In this paper I build a unified model of economic growth to account for the time-series evolution of output, fertility, and population in the industrialization of an economy. Specifically, I merge the unified growth models of Galor and Weil [American Economic Review 90 (2000), 806–828] and Hansen and Prescott [American Economic Review 92 (2002), 1205–1217] to capture the importance of human capital formation, fertility decline, and the transition from agriculture to industry in transition from stagnation to growth. Moreover, I also incorporate young adult mortality into the model. Initially, the aggregate human capital and return to education are low and the mortality rate is high; therefore parents invest in quantity of children. Once sufficient human capital is accumulated and mortality rates are reduced, thanks to increasing life expectancy, with the activation of the modern human capital–intensive sector, parents start to invest in the quality of their children. The simulation of the model economy improves upon the quantitative performance of the existing literature and successfully captures the evolution of fertility, population, and GDP in the British economy between 1750 and 2000.
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Filgueiras, Luiz Antonio Mattos. "PADRÃO DE REPRODUÇÃO DO CAPITAL E CAPITALISMO DEPENDENTE NO BRASIL ATUAL." Caderno CRH 31, no. 84 (March 28, 2019): 519. http://dx.doi.org/10.9771/ccrh.v31i84.26133.
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<p>A Teoria Marxista da Dependência (TMD), com o objetivo de entender as formas de reprodução do capital, nas distintas formações econômico-sociais, em diferentes períodos históricos do desenvolvimento capitalista, construiu o conceito de Padrão de Reprodução do Capital (PRC), apoiada na conhecida forma geral do ciclo do capital industrial, que é, também, a forma do ciclo do capital-dinheiro – conforme formulado por Marx. Este texto discute o alcance e o limite desse conceito para a compreensão da formação econômico-social brasileira contemporânea. Aponta que, embora ele contribua para o entendimento de formações econômico-sociais concretas, seu nível de abstração não permite perceber diferenças importantes existentes entre elas – em especial as latino-americanas. Como consequência, propõe, de forma complementar e em um nível menor de abstração, o conceito de Padrão de Desenvolvimento Capitalista (PDC), devidamente redefinido, e que se refere apenas a uma formação econômico-social singular (única pela sua história).</p><p>CAPITAL AND CAPITALISM REPRODUCTION STANDARD DEPENDENT IN CURRENT BRAZIL</p><div><p>The Marxist Theory of Dependency (MTD), with the aim of understanding the ways in which capital is reproduced in different economic and social formations in different historical periods of capitalist development, constructed the concept of Capital Reproduction Pattern (CRP), supported in the known general form of the cycle of industrial capital, which is also the form of the money-capital cycle - as formulated by Marx. This text discusses the scope and limit of this concept for the understanding of contemporary Brazilian socio-economic formation. It is pointed out that, although it contributes to the understanding of concrete socio-economic formations, its level of abstraction does not allow to perceive important differences existing between them - especially the Latin American ones. As a consequence, it is proposed, in a complementary way and in a lower level of abstraction, the concept of a Capitalist Development Pattern (CDP), duly redefined, and which refers only to a unique socio-economic formation (unique in its history).</p><p><strong>Key words: </strong>Marxist Theory of Dependence; Dependent Capitalism; Capital Reproduction Pattern; Capitalist Development Pattern; Brazilian Economy</p></div><div><p class="trans-title">CAPITAL ET NORME DE REPRODUCTION DU CAPITALISME DEPENDANT DU BRESIL ACTUEL</p><p>La Théorie Marxiste de la Dépendance (TMD), dans le but de comprendre la façon dont le capital est reproduit dans différentes formations économiques et sociales dans différentes périodes historiques du développement capitaliste, a construit le concept de Modèle de Reproduction du Capital (MRC), soutenu dans la forme générale connue du cycle du capital industriel, qui est aussi la forme du cycle du capital-argent - tel que formulé par Marx. Ce texte discute la portée et la limite de ce concept pour la compréhension de la formation socio-économique brésilienne contemporaine. Il est souligné que, bien qu’il contribue à la compréhension de formations socio-économiques concrètes, son niveau d’abstraction ne permet pas de percevoir les différences importantes existant entre eux - en particulier les latino-américains. En conséquence il est proposé, d’une manière complémentaire et dans un niveau d’abstraction inférieur, le concept de Modèle de Développement Capitaliste (MDC), dûment redéfini, qui se réfère uniquement à une formation économique et sociale singulière (unique pour son histoire).</p><p><strong>Key words: </strong>Théorie Marxiste de la Dépendance; Capitalisme Dépendant; Modèle de Reproduction de Capital; Modèle de Développement Capitaliste; Économie brésilienne</p></div>
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Ramcharan, Rodney. "Migration and Human Capital Formation: Theory and Evidence From the U.S. High School Movement." IMF Working Papers 02, no. 123 (2002): 1. http://dx.doi.org/10.5089/9781451854626.001.
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Mietule, Iveta. "Theoretical aspects of human capital formation in the interaction between the economic and education sectors." SOCIETY, INTEGRATION, EDUCATION. Proceedings of the International Scientific Conference 1 (May 9, 2015): 356. http://dx.doi.org/10.17770/sie2012vol1.56.
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<p>In the 21st century, together with the development of society and economics, including technology, the importance of human capital as a production resource is not decreasing, on the contrary – it is growing. Today’s situation in the EU countries (demographic and ethnic problems) makes us consider the leading role of population as human capital in the development of economics as well as evaluate human capital formation conditions. The aim of the research is to explore theoretical aspects of human capital concerning the mutual interaction of the fields of economics and education. In the economic theory, there have been hot debates regarding human capital, its formation necessity, costs and benefits from the state and individual’s point of view. From the author’s point of view, the role of employer being a moving force in forming human capital is underestimated. It is crucial to involve employers in the formation of the human capital, making a dialogue in relation to the implementation of professional and higher education programmes.</p>
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Prokopenko, Oleksiy. "COMPETITION THEORY: EVOLUTION OF VIEWS AND CONTENT." Ukrainian Journal of Applied Economics 4, no. 3 (August 30, 2019): 407–14. http://dx.doi.org/10.36887/2415-8453-2019-3-45.
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The article examines the theoretical content development of competition and the provisions of the competitive relations formation. It is proved that changes in the market environment attract attention to competitive relations in the first place. It is established that research in the field of competition theory has come a long and difficult way. The evolution of different scientists’ views outlines different directions and possibilities of its understanding in terms of areas of adaptation. It is pointed out that the representatives of the classical school of political economy determined competition through macroeconomic models. Understanding of competition through the issue of combination with monopoly was reflected in the crisis. This led to the formation of the competitive relations development with the simultaneous involvement of state regulation. Representatives of the institutional direction outlined the need to attract innovation to ensure development. At the same time, the understanding of competitive relations was completely compared with the formation of the organization theory. It is determined that the competitive relations evolution also involved the development of behavioral economic theory. This was facilitated by the results of changes in market relations, which were adapted to changes in the economic behavior of market participants. The peculiarities of competition formation for subjects of different sizes have been studied. Attention is paid to the development of competitive relations for the conditions of corporations. The relationship between competition and human capital is presented. It is proved that the formation of competitive advantages fully depends on the level of human capital development. It is determined that the representatives of neo-institutionalism focused on the efficiency of the economy in the study of competition. Thus, at this stage, costs have become important. The development of competition theory from different points of view led to the formation of the theory of competitive evolution. Different models of formation of competitive advantages are presented. The necessity of adaptation of market subjects to constant changes of the market environment and to attraction of separate models of the theory of a competition is proved, depending on possibilities of formation of own competitive advantages in the chosen markets. Key words: competition, competitive relations, competitive advantages, competitive models, strategies, efficiency.
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Басовский, Leonid Basovskiy, Басовская, and Elena Basovskaya. "Theory of Long-Term Technical and Economic Development." Economics 4, no. 4 (August 17, 2016): 11–15. http://dx.doi.org/10.12737/21076.
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The purpose of this study was to summarize theoretical propositions about the
main stages of a long-term technical and economic development. Stages
of modern technical and economic development are the technological orders.
The life cycle of technological order lasts for three Kondratieff cycles. At the same
time in the economy, there are three technological orders. The difference between
orders is in ratio and efficiency of the use of substances, energy and information,
the level of labor productivity, capital intensity and energy intensity of production
of goods. The beginning of the formation of the first order can be attributed to the
1720s years. Industrial economy is the first, second, third and fourth technological
orders. These provide a way of gradual growth of labor productivity by increasing
capital intensity and the energy intensity of the national production. The postindustrial
economy is the fifth, sixth and subsequent order. These provide a way
of gradual growth of labor productivity due to an increase in the volume of the
used information. The capital intensity and energy in stages of national production
reduces at the expense of human capital and new technologies.
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Et.al, Emilda Hashim. "Reexamine the Impacts of Education Expenditure, Capital Formation, Human Capital and Expert Labor on Malaysian Economic Growth." Turkish Journal of Computer and Mathematics Education (TURCOMAT) 12, no. 3 (April 11, 2021): 761–67. http://dx.doi.org/10.17762/turcomat.v12i3.782.
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This study aims to reexamine the relationships between selected macroeconomic variables, especially the expenditure on education, on growth of Malaysian economy. Specifically, the exogenous variables in this study comprise of government education expenditure, investment, human capital and expert labor. For analysis purpose, this study adopts the time series data from 1988 until 2018. The estimated model is developed by employing ordinary least square technique (OLS). Outcome of this study discloses that human capital is the most crucial variable in elucidating Malaysian economic growth in the long term. Additionally, the study findings affirm that the government expenditure on education and capital formation are second and third outstanding variables in clarifying the economic growth in the observation time frame, respectively. Surprisingly, this particular study discovers that labor force expertise is irrelevant in influencing economic growth for Malaysia case. Consequently, the results of this study are parallel with other previous studies, especially on the roles that have been played by all variables aforementioned above. Albeit insignificant, expert labor still gives little impact to Malaysia’s economic growth at 10% confidence level. The reason being, as a high middle income country, human capital has more profound effect in promoting economic growth in Malaysia due to its ability to generate remarkably higher productivity for the nation compares to expert labor factor. For future study, further dynamic analysis is needed to prove the variables’ relationships in the short and long terms.
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Ascione, Gennaro. "Unthinking Capital: Conceptual and Terminological Landmarks." Sociology 51, no. 1 (February 2017): 162–80. http://dx.doi.org/10.1177/0038038516658398.
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In this article I take issues with some Eurocentric limits of the two contradictions of capital: capital/labour and capital/nature. These limits are exposed by elaborating on two theoretical insights from researches in critical race studies and indigenous political ecologies: respectively thingification and uncommon. These insights produce a tension between colonialism and capitalism, which calls for a post-Eurocentric process of concept formation. This reconceptualization of capital is pursued through the notion of muri, which the Japanese thinker Uno Kōzō deployed to designate a bold non-western pathway to reading Capital. The article elaborates and formulates three conceptual and terminological landmarks to unthinking capital for a global social theory.
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Nureev, R. "Public Choice Theory. A Textbook. Chapter 12. Constitutional Economics." Voprosy Ekonomiki, no. 7 (July 20, 2003): 110–27. http://dx.doi.org/10.32609/0042-8736-2003-7-110-127.
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The necessity of formation of constitutional economics is considered in the twelfth chapter of the textbook. The model of constitutional order by F. Hayek is analyzed. The requirements to effective constitution are described. The law is viewed as the public capital. The concepts of defending and producing state are defined. The chapter also includes further readings, control tests and questions.
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Sahaym, Arvin. "SPIN-OUT FORMATION AND PERFORMANCE FROM THE LENS OF DYNAMIC CAPABILITIES AND SOCIAL CAPITAL THEORY." Academy of Management Proceedings 2005, no. 1 (August 2005): M1—M6. http://dx.doi.org/10.5465/ambpp.2005.18778651.
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Lee, Saerom, Hyunmi Baek, and Jungjoo Jahng. "Role of Project Owner in OSS Project: Based on Impression Formation and Social Capital Theory." Journal of Society for e-Business Studies 21, no. 2 (May 31, 2016): 23–46. http://dx.doi.org/10.7838/jsebs.2016.21.2.023.
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Yurov, S. S. "ROLE OF UNIVERSITY IN THE PROCESS OF FORMATION OF INDIVIDUAL HUMAN CAPITAL: THEORY AND PRACTICE." Вестник Алтайской академии экономики и права 3, no. 11 2020 (2020): 579–84. http://dx.doi.org/10.17513/vaael.1466.
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Metel'skaya, V. V. "Formation of optimal capital structure of domestic corporations in times of crisis: Econometric analysis of determinants." Economic Analysis: Theory and Practice 19, no. 2 (February 28, 2020): 374–98. http://dx.doi.org/10.24891/ea.19.2.374.
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Subject. The article addresses building the optimal capital structure in the face of financial globalization, taking into account the ever-changing factors of external economic and geopolitical environment, including the financial crisis. Objectives. The purpose is to perform empirical tests of hypotheses about the nature of corporate financial leverage dependence on traditional determinants during and after the financial crisis in Russia's emerging market. I used a large data set on 49 public companies in seven leading sectors of the Russian economy from 2011 to 2017. Methods. The study employs the correlation and regression analysis. Results. The results of correlation and regression analysis show that the application of traditional theories of capital structure in the current conditions of financial globalization in a developing country is ineffective for forming an optimal capital structure; macroeconomic factors have a significant impact on the formation of corporate capital structures, which is particularly reflected during and after the crisis; the financial crisis has a considerable impact on the capital structure of companies; the determinant of stock market development has a real impact on leverage and plays an important role in financial decision-making after the financial crisis. Conclusions. I revealed inverse relationship between the leverage and variable size of companies after financial crisis, which contradicts to the trade-off theory and corresponds to the pecking order theory. This supports the hypothesis that macroeconomic factors are crucial, but the variable of stock market development has increased essentially as compared to the pre-crisis period.
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Wang, Huihui, Jiaqing Zhao, Ying Wang, and Yuxiang Hong. "Study on the Formation Mechanism of Medical and Health Organization Staff’s Emergency Preparedness Behavioral Intention: From the Perspective of Psychological Capital." International Journal of Environmental Research and Public Health 18, no. 16 (August 4, 2021): 8246. http://dx.doi.org/10.3390/ijerph18168246.
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Medical and Health Organization (MHO) staff’s emergency preparedness awareness and behaviors are essential variables that affect public health emergency response effectiveness. Based on the theory of psychological capital and the theory of planned behavior (TPB), this study discusses the mechanism of the psychological characteristics of MHO staff on their emergency preparedness behavioral intention (EPBI). To verify the research model, we conducted a web-based questionnaire survey among 243 MHO staff from China and analyzed the data using the structural equation modeling software, AMOS 24.0 (IBM, New York, United States). The empirical results reveal that psychological capital significantly affected cognitive processes theorized by TPB. This study suggests that the positive psychological capital of MHO staff should be developed and managed to improve their EPBI.
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Vyborna, V. "The economic essence of social capitaland features of formation in modern conditions." Ekonomìka ta upravlìnnâ APK, no. 1(162) (April 22, 2021): 65–75. http://dx.doi.org/10.33245/2310-9262-2021-162-1-65-75.
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The article summarizes the theoretical approaches to the definition of the category of social capital and considers the impact of modern changes on its formation and reproduction. It is substantiated that the holistic theory of social capital is not complete, which actualizes the research on deepening the essence of the definition of the category of social capital and systematizing the features of its formation. The evolution of the concept of social capital, modern approaches to the study and basic components of this type of capital are analyzed. It is established that initially social capital was considered as a special manifestation of relations between people, which contributes to the solution of common problems, including determined by the established ties between people. The components of the concept of "social capital" - trust, connections and norms, as well as considered as a certain resource available to man. It is argued that in the current environment, social capital includes the following elements - obligations and expectations, which depend on the reliability of the social environment; the ability of the social structure to transmit information flows and norms, which are accompanied by sanctions. Social capital involves the benefit of its various manifestations, or the return on efforts to maintain interpersonal relationships. It is established that scientific research is underway to develop an integrated indicator that has contributed to a comprehensive and adequate assessment of the level of development of social capital, in particular at the macro level. The versatility of the concept of social capital is proved, which requires for its study to adhere to an interdisciplinary scientific approach and take into account numerous factors of external and internal environment of its formation. The positions of scientists who prove the positive impact of social capital on various result indicators, in particular the growth of any economic system, are presented. The definitions of the category of social capital proposed by Ukrainian researchers are systematized and consensus is highlighted in the understanding of it as a resource based on stable social ties and used to generate additional income. The author's definition of understanding the category of social capital is proposed, which is considered on the basis of relationships based on trust and mutual obligations not directly related to the main activities of economic agents, and contribute to the formation and strengthening of their competitive advantages. The factors that influence the development of social capital and adjust its interpretation accordingly are systematized. Keywords: social capital, trust, relationships, social ties.
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Abdul Hali, Nurfadhlina, and Ari Yuliati. "Markowitz Model Investment Portfolio Optimization: a Review Theory." International Journal of Research in Community Services 1, no. 3 (October 4, 2020): 14–18. http://dx.doi.org/10.46336/ijrcs.v1i3.104.
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In the face of investment risk, investors generally diversify and form an investment portfolio consisting of several assets. The problem is the fiery proportion of funds that must be allocated to each asset in the formation of investment portfolios. This paper aims to study the optimization of the Markowitz investment portfolio. In this study, the Markowitz model discussed is that which considers risk tolerance. Optimization is done by using the Lagrangean Multiplier method. From the study, an equation is obtained to determine the proportion (weight) of fund allocation for each asset in the formation of investment portfolios. So by using these equations, the determination of investment portfolio weights can be determined by capital.
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Malikova, V. V. "SOCIO-ECONOMIC PRECONDITIONS FOR THE FORMATION OF PRE-RETIREMENT HUMAN CAPITAL." Economics Profession Business, no. 4 (December 10, 2020): 76–80. http://dx.doi.org/10.14258/epb2019103.
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The article focuses on pre-retirement age employee’s assessment as a development resource of regional economy. Recently, assessments of the leading role of human capital in modern socio-economic development have become widespread in the scientific literature. The key parameter that determines the development of the region is the level of formed and accumulated human capital of pre-retirees, which should be evaluated, developed and effectively used, and when evaluating it, it is necessary to take into account the specific conditions for the formation of individuals within the framework of the considered models of economic human. The article analyzes the main features of human models from the standpoint of economic theory, offers a model of a modern prepensioner, and justifies the need to consider the impact of economic systems of management corresponding to the periods of labor activity when assessing the human capital of pre-retirees. During there search the following methods were used: the analysis of special and thematic literature, legal and regulatory sources, system processing, data analysis and visualization.
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Gorak, Jan. "Cultural Capital: The Problem of Literary Canon Formation. John Guillory." Modern Philology 94, no. 2 (November 1996): 286–90. http://dx.doi.org/10.1086/392402.
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Malebana, M. J. "The influencing role of social capital in the formation of entrepreneurial intention." Southern African Business Review 20, no. 1 (March 27, 2019): 51–70. http://dx.doi.org/10.25159/1998-8125/6043.
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This paper investigated the relationship between social capital and entrepreneurial intention using the theory of planned behaviour (TPB). The study was carried out by means of a cross-sectional survey and included 329 final-year commerce students at a rural university in the Limpopo province. A structured questionnaire was used to collect the data. The results show that social capital is significantly related to entrepreneurial intention, the attitude towards becoming an entrepreneur and perceived behavioural control. The findings indicate that the TPB is a valuable model for understanding the relationship between social capital and entrepreneurial intention. The results indicate that individuals are more likely to form intentions to start a business when they think that their decision to do so would be approved of by those close to them, when entrepreneurial activity is positively valued in the society, when they know other people who are entrepreneurs and successful entrepreneurs, and believe that they would be supported by those close to them when starting a business. This study contributes to the body of knowledge by shedding light on the role of social capital in the formation of entrepreneurial intention in a South African context.
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Abubakar, Yazid Abdullahi, Jay Mitra, and Adeyeye Mercy Modupe. "Mobile Telephony and New Business Formation Rates in BRICS and Beyond: Does Human Capital Matter?" Journal of Entrepreneurship and Innovation in Emerging Economies 4, no. 2 (May 20, 2018): 137–58. http://dx.doi.org/10.1177/2393957518776746.
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This study examines whether and to what extent ‘domestic’ education level mediates the relationship between mobile phone diffusion and new business formation rates across the developing world, that is, Brazil, Russia, India, China and South Africa (BRICS) and non-BRICS developing countries. Drawing on the knowledge spillover theory (KST) of entrepreneurship, we suggest that the recent rise in domestic education levels might explain the positive association between mobile phone diffusion and new business formation rates. Utilising country-level panel data on 66 developing countries, the results indicate that the mediating effect of education on mobile phone diffusion and new business formation rates is not just limited to developing countries (including BRICS) but that this pattern can also be found in non-BRIC developing nations too, with the exception of the least developed countries (LDCs). We conclude with implications for theory and policy.
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Pravdiuk, Nataliia, Vitalii Pokynchereda, and Maryna Pravdiuk. "THE HUMAN CAPITAL OF AN ENTERPRISE: THEORY AND ASSESSMENT METHODOLOGY." Baltic Journal of Economic Studies 5, no. 2 (May 13, 2019): 176. http://dx.doi.org/10.30525/2256-0742/2019-5-2-176-183.
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At the present stage of social development, there is a transformation of the persistent views on the place and human role in the economic system. Human capital assets as a set of productive abilities, personal traits, and employee motivation developed as a result of investment become a key factor in the production process, without which any prospects of economic growth are neutralized. The purpose of the article is to provide a theoretical substantiation and systematization of existing methods for assessing human capital, to identify the advantages and disadvantages of their practical application in the enterprise activity, and to develop recommendations aimed at improving the human capital assessment methodology in order to further reflect information on the cost of human capital assets in accounting and reporting of enterprises Methodology. The methodological basis of the study is the historical and logical method used in the study of the economic essence of human capital assets and the evolution of human capital assessment methodology. Dialectical method and comparative analysis have been used to determine the differences between existing human capital assessment methods and to identify positive and negative aspects of their practical application. The methods of scientific abstraction, induction and deduction, analysis and synthesis have been used in developing the methodology for assessing human capital assets and justifying the opportunities for its integration into the accounting and reporting system of the enterprise. Results. It has been established that in international practice, there is a cost-based, profitable, and expert methodology for assessing human capital assets. Based on the analysis of positive and negative aspects of the application of these methods, it is substantiated that from the standpoint of accounting the most cost-based model of human capital assets is the most optimal since it is based on the principle of actual cost peculiar to accounting practice. Taking this into consideration, a cost-based methodology for assessing human capital assets of the enterprise has been suggested, according to which the cost of human capital assets is calculated by capitalizing the costs borne by the employee and the enterprise at all stages of the formation and development of human capital assets, namely, the costs of developing the employee’s physical abilities (the cost of developing his/her physical abilities), the cost of training (tuition fee in educational institutions), the cost of obtaining professional experience (the cost of professional experience), and the costs of its professional training (the cost of vocational training in the process of his/her employment). Practical meaning. The introduction of the suggested methodology for assessing human capital assets creates the prerequisites for the subsequent display of information in business accounting and reporting, which in its turn increases the level of informativity of accounting data, promoting to meet the growing needs of external and internal users of information, provides an opportunity to consider the value of human capital in determining the market value of the company. Besides, the suggested assessment methodology enables to produce information about the cost of human capital assets of the enterprise, which is the basis for determining the effectiveness of its use. Value/originality. The suggested methodology for assessing human capital assets creates prerequisites for its implementation in the accounting system of the enterprise, which will create the basis for displaying information about the cost of human capital assets in the enterprise’s reporting, which corresponds to the objectives of value-oriented enterprise management.
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Kravchenko, S. A. "New transmission mechanism for the sustainable and humanistic development of human capital: Demand for the ‘rigidity turn’." RUDN Journal of Sociology 21, no. 3 (September 17, 2021): 433–43. http://dx.doi.org/10.22363/2313-2272-2021-21-3-433-443.
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The author considers the becoming complex reality as developing nonlinearly and demanding new transmission mechanisms for the formation of human capital and also factors that contribute to changes in these realities: self-reflection of both nature and society; social gaps and traumas as becoming a norm; backward and forward trends; the increasing number of bifurcation points; ambivalences; side effects of digital innovations; consequences of global pandemics, etc. - all of them facilitate changes in the mechanism for the development of human capital. In the 1960s, G. Becker and T. Schultz introduced the term human capital to start the studies of factors that make mechanisms of its formation more complex. Since then, many theories have been introduced to explain challenges to human capital, because various transmission mechanisms of influencing human capital have been formed as culturally and politically determined. Today, there are two challenges affecting the nature of human capital: digitalization and the global covid-19 pandemic create new requirements for human capital and change the transmission mechanism of its formation. However, the dominant pragmatic and formal-rational approaches to human capital distort its humanistic and sustainable components. The author insists on the need to create a new transmission mechanism for the sustainable and humanistic human capital development, which would include social-cultural and value elements, humanized digital technologies, bioethics and social epidemiology - in order to help social actors to function more effectively under the global complexity and nonlinear development. The author outlines the theory of the rigidity turn as a social discourse, which aims at studying long-lived phenomena of social order and developing intellectual and practical foundations of the sustainable and humanistic formation of the human capital.
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Bayar, Onur, Thomas J. Chemmanur, and Xuan Tian. "Peer Monitoring, Syndication, and the Dynamics of Venture Capital Interactions: Theory and Evidence." Journal of Financial and Quantitative Analysis 55, no. 6 (March 20, 2019): 1875–914. http://dx.doi.org/10.1017/s0022109019000218.
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We develop a theoretical model providing a new rationale for venture capitalist (VC) syndicate formation and empirically test our model predictions. An entrepreneur obtains financing and two different value-adding inputs from a single VC or from two different VCs, each operating in his area of expertise. We characterize the entrepreneur’s equilibrium choice between contracting with a single VC, individually with multiple VCs, or with a VC syndicate. We show that syndicates mitigate VCs’ moral hazard problem in value addition. We also analyze the dynamics of VC syndicate composition. The results of our empirical analysis are consistent with our model’s predictions.
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Belenkova, Oksana, Lubov Vanchukhina, and Tatyana Leybert. "Human capital as socio-economic phenomenon of the innovation society: prerequisites of formation, essence and structure." SHS Web of Conferences 55 (2018): 01003. http://dx.doi.org/10.1051/shsconf/20185501003.
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Prerequisites of formation of human capital as socio-economic phenomenon in the innovation society are analyzed in this article on the basis of complex methodology that integrates methods of social philosophy, economics, sociology and socio-philosophical anthropology. The authors came to the conclusion that these prerequisites are the following: technologization of achievements in the field of basic sciences and lending innovation-technological, economic-commercial, administrative, innovation-personal functions to sciences. The basic provisions of the theory of human capital are investigated, and its essence and structure is justified in the paper. The authors show that this is cognitariat or social groups ensuring the formation and constant development of the scientific-industrial-technological segment of the innovation economics on the basis of implementation of innovation that is the subject of human capital. Possibilities and perspectives of utilization of human capital for solving tasks of improving productivity and profitability of production in the digital economics are also justified.
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Novruzov, N. A. "Human Capital as a Factor of Informal Employment in Azerbaijan." Alma mater. Vestnik Vysshey Shkoly, no. 8 (August 2021): 91–98. http://dx.doi.org/10.20339/am.08-21.091.
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Discussed are the theory of sustainable development of society and the concept of national wealth which are based on the recognition of man as the driving force of social development. The formation and development of human capital, the use of its potential is becoming, along with the development of technology, a key factor in the development of the productive forces of society. A person, possessing a combination of various forces and abilities, is a factor of economic growth. The aim of the work is to study the development of human capital and the growth of its role in modern society. In accordance with the set goal, the following tasks are solved: clarification of the content of the concept of “human capital”, consideration of the theory of human capital within the framework of historical development and disclosure of its function, identifying the types of human capital and factors affecting it, analysis of the state of human capital in Azerbaijan, identification of risks and challenges, recommendations for improving human capital in the country.