Firm Specific Human Capital And Theories Of The Firm
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Firm Specific Human Capital And Theories Of The Firm
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Author : Margaret M. Blair
language : en
Publisher:
Release Date : 2003
Firm Specific Human Capital And Theories Of The Firm written by Margaret M. Blair and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
This paper focuses on contracting problems in firms caused by asset specificity and investment incentives, particularly the problems that arise when employees make investments in quot;firm specific human capital.quot; In such cases, employee investments will also be seriously at risk in the enterprise.Under the nexus of contracts theory of corporations, corporation law is viewed as providing a standardized solution to a central contracting problem, namely the agency problem between shareholders (who are assumed to be the quot;ownersquot; of the firm) and their hired managers. All other relationships are seen as governed by ordinary, negotiated contracts. But where employees make important specific investments, it is no longer appropriate to assume that shareholders are, and should be, the hiring party, or the quot;owners.quot; A broader view of what a firm is, and what corporation law accomplishes, is needed, one that permits exploration of why one set of participants in the firm might end up with certain control rights rather than some other set. For a firm in which such firm-specific employee investments are important, one would expect, for example, to find institutional arrangements that are central to the nature of the firm and that encourage continuity in the relationships between employees and the firm, as well as give employees the means to protect their stakes. Such institutions might include unions, severance pay, and social norms of lifetime employment, together with internal job ladders, career paths, seniority rules, and direct and formal control rights. The paper then reviews several new theories that view the firm alternately as a system of incentives, or as a nexus of specific investments. In other words, they conceptualize the firm as a mechanism for governing the relationships among all the participants (those who contribute labor as well as those who contribute capital), not just the relationship between shareholders and managers.
Micro Foundations Of Firm Specific Human Capital
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Author : Joseph Raffiee
language : en
Publisher:
Release Date : 2015
Micro Foundations Of Firm Specific Human Capital written by Joseph Raffiee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Drawing on human capital theory, strategy scholars have emphasized firm-specific human capital as a source of sustained competitive advantage. In this study, we begin to unpack the micro-foundations of firm-specific human capital by theoretically and empirically exploring when employees perceive their skills to be firm-specific. We first develop theoretical arguments and hypotheses based on the extant strategy literature, which implicitly assumes information efficiency and unbiased perceptions of firm-specificity. We then relax these assumptions and develop alternative hypotheses rooted in the cognitive psychology literature, which highlights biases in human judgment. We test our hypotheses using two data sources from Korea and the United States. Surprisingly, our results support the hypotheses based on cognitive bias - a stark contrast to the expectations embedded within the strategy literature. Specifically, we find organizational commitment and, to some extent, tenure are negatively related to employee perceptions of the firm-specificity. We also find that employer provided on-the-job training was unrelated to perceived firm-specificity. These findings suggest that firm-specific human capital, as perceived by employees, may drive behavior in ways not anticipated by existing theory - for example, with respect to investments in skills or turnover decisions. This, in turn, may challenge the assumed relationship between firm-specific human capital and sustained competitive advantage. More broadly, our findings may suggest a need to reconsider other theories, such as transaction cost economics, that draw heavily on the notion of firm-specificity and implicitly assume widely shared and unbiased perceptions.
Perceptions Of Firm Specific Human Capital
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Author : Joseph Raffiee
language : en
Publisher:
Release Date : 2014
Perceptions Of Firm Specific Human Capital written by Joseph Raffiee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Drawing on human capital theory, strategy scholars have emphasized firm-specific human capital as a source of sustained competitive advantage. This study challenges some critical implicit assumptions of extant theory by exploring how workers actually think about firm-specificity. We test several theoretical predictions using longitudinal data from Korea and the United States. Contrary to extant theory, we find that organizational tenure and commitment are negatively related to workers' reported firm-specificity of their skills. Consistent with this, we also find that employees in managerial occupations report that their skills are relatively less firm-specific. Employer provided on-the-job training was not significantly linked with employee reports of firm-specificity. This may call into question the assumed relationship between firm-specific skills and sustained competitive advantage. We offer explanations for these counterintuitive findings and discuss the implications for future theoretical and empirical work on firm-specificity.
Human Capital Inter Firm Mobility And Organizational Evolution
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Author : Johannes M. Pennings
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01
Human Capital Inter Firm Mobility And Organizational Evolution written by Johannes M. Pennings and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Business & Economics categories.
A pioneering and innovative analysis of how the social organization of talent and the mobility of talent shape entrepreneurial activity, the spread of organizational innovations, the incidence of mergers and acquisitions and the demise of organizations. A must read for students of organizations, strategy and human resource management. Hayagreeva Rao, Stanford University, US In this book, Pennings and Wezel address a neglected topic in organizational theory: the links between individual behaviors and organizational outcomes. Their study. . . demonstrates how individual careers affect organizational founding, competitiveness, and survival, and provides rich insights on the role of human capital in professional partnerships. It offers a new perspective backed by solid reasoning and evidence. Henrich R. Greve, Norwegian School of Management, Norway The authors of this fascinating and original work contend that by analysing the conduct of organization members, a great deal can be learnt about firm behaviour and about the cooperative and competitive forces that underlie industry evolution. The empirical chapters in this volume are preceded by a conceptual overview of macro-organizational theories that explicitly bring in the role of individual actions. A rich set of studies carried out in the Dutch accounting sector is used to illustrate that changes in competitive positioning and behaviour are triggered by employee actions including advancement and defection to competitors. New insights on entrepreneurship, mergers and acquisitions and organizational dissolution further develop the multi-level focus of the set of studies presented here. The book aims at stimulating intellectual debate on the role of migration of human and social capital through inter-firm mobility and will provide a fascinating read for academics, researchers, students and practitioners with an interest in organizational theory, strategic management and human resource management.
The Oxford Handbook Of Human Capital
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Author : Alan Burton-Jones
language : en
Publisher: OUP Oxford
Release Date : 2012-05-10
The Oxford Handbook Of Human Capital written by Alan Burton-Jones and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-10 with Business & Economics categories.
Macroeconomic research on human capital - the stock of human capabilities and knowledge - has been extensively published but to date the literature has lacked a comprehensive analysis of human capital within the organization. The Oxford Handbook of Human Capital has been designed to fill that gap, providing an authoritative, inter-disciplinary, and up to date survey of relevant concepts, research areas, and applications. Specially commissioned contributions from over 40 authors reveal the importance of human capital for contemporary organizations, exploring its conceptual underpinnings, relevance to theories of the firm, implications for organizational effectiveness, interdependencies with other resources, and role in the future economy. Unlike neoclassical macroeconomic concepts of human capital, human capital in organizations is shown to be dynamic and heterogeneous, requiring new theories and management frameworks. The systemic role of human capital is explored, revealing it as the lynchpin of social, structural and other forms of intangible and tangible capital. Connections between human capital and organizational performance are investigated from HR management, procurement, alignment, value appropriation, and accounting perspectives. Links between micro and macro perspectives are provided through analyses of inter firm human capital mobility, national and regional human capital formation regimes and industry employment relations practices. This Handbook is designed for scholars and graduate students of organization and management theory, strategy, entrepreneurship, knowledge and intellectual capital, accounting, IT, HR, IR, economic sociology and cultural studies. For policy makers and practitioners it should provide an up to date guide to the nature and role of human capital in contemporary organizations and the roles that government, industry and other extra firm institutions can play in facilitating its development.
Handbook Of Research On Strategic Human Capital Resources
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Author : Anthony J. Nyberg
language : en
Publisher: Edward Elgar Publishing
Release Date : 2019-12-27
Handbook Of Research On Strategic Human Capital Resources written by Anthony J. Nyberg and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-27 with Business & Economics categories.
Strategic human capital resources are a relatively new construct with a scholarly literature that is still evolving. Work in this area requires the integration of multiple theoretical perspectives and empirical approaches, but that integration rarely occurs. Within these pages, the editors have combined the voices of leading scholars from a wide range of disciplinary backgrounds to provide a comprehensive introduction to the current state of the field.
The New Relationship
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Author : Margaret M. Blair
language : en
Publisher: Brookings Institution Press
Release Date : 2002-07-31
The New Relationship written by Margaret M. Blair and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-07-31 with Business & Economics categories.
Human capital and organizational capital are increasingly important as a source of value in many firms. But even as this is happening, organizational forms and employment relationships appear to be changing in ways that reduce loyalty and commitment and encourage mobility on the part of employees. Are these changes consistent in ways that contradict traditional theory and wisdom, or is the corporate sector getting a temporary boost in earnings by restructuring and cutting payrolls; but failing to make necessary new investments in human capital? The essays in this book provide intriguing new evidence on these questions. The contributors quantify the degree to which job stability is declining, and the costs of job loss to long-term workers; provide historical perspective on today's workplace changes; explore the reasons why work is being reorganized and decisionmaking tasks are being pushed downward; examine the rationale for and effect of equity-based compensation systems, both in old industries and in the newest high-tech sectors; and assess the "state of the art" of measuring and accounting for investments in human capital. This book is the result of a joint Brookings-MIT conference. In addition to the editors, authors include Eileen Appelbaum, Laurie Bassi, Avner Ben-Ner, Peter Berg, Joseph Blasi, Timothy Bresnahan, Eric Brynjolfsson, Allen Burns, Peter Cappelli, Greg Dow, Lorin Hitt, Douglas Kruse, Baruch Lev, Julia Liebeskind, Jonathon Low, Daniel McMurrer, Louis Putterman, Charles Schultze, and Anthony Siesfeld.
Firm Specific Human Capital
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Author : University of British Columbia. Department of Economics
language : en
Publisher:
Release Date : 1974
Firm Specific Human Capital written by University of British Columbia. Department of Economics and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Human capital categories.
Firm Specific Human Capital A Shared Investment Or Optimal Entrapment
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Author : David Donaldson
language : en
Publisher:
Release Date : 1974
Firm Specific Human Capital A Shared Investment Or Optimal Entrapment written by David Donaldson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with categories.
Firm Specific Human Capital Vs Job Matching
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Author : Erwan Quintin
language : en
Publisher:
Release Date : 2003
Firm Specific Human Capital Vs Job Matching written by Erwan Quintin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.