Assessing the Impact of Human Capital's Structure on High Value-Added Economic Sectors in European Countries: Illustration of Mining Industry

Abstract

The aim of the research was to assess the impact of a new structure of human capital on high value-added economic sectors in European countries. The conducted theoretical and empirical research has shown that the proposed new concept of human capital has a place to be. Three dimensions of human capital, such as quality, quantity and value, have different impacts on different sectors of European economies. Based on empirical data, the multiple linear regression model was chosen as a method that the best-fit structure of the data collected. The proposed econometric model revealed that the value of human capital is the most important component among three having very close statistical interconnections with qualitative dimensions. It was researched that Scandinavian countries scored the highest level of value dimension of human capital as well as high value-added in the economy. Open, trusted, tolerant, culturally diverse societies create preconditions for a rise for creative culture, which is a source for the formation of technological innovations and adaptation in high value-added economic sectors. Moreover, because of this value-added chain, technological innovations penetrate traditional industries as mining brings the reduction of cost, the increase in productivity and value-added, safety, and shared value in society through environmental issues.

Environmental Decentralization, Resource Endowment and Urban Industrial Transformation and Upgrading: A Comparison of Resource-Based and Non-Resource-Based Cities in China

“…Jurgelevicius et al [20] found that the overdependence of industrial economic development on resource endowments can lead to environmental problems and thus fall into the "resource curse" trap [21]. Syed et al [22] argued that the "resource curse" is long standing and has a close correlation with environmental sustainability [23].…”

Economic development facets and their interrelation

“…Therefore, an index of human development index was created (Cingranelli and Richards, 2007). One of the advantages of the human development index is that it does not take into account only one aspect, such as one's income, but rather takes into account a whole complex of variables, such as the percentage of illiterate people in a country, people's access to drinking water, people's access to health services, number of children under 5 years of age suffering from malnutrition, percentage of probability in a born individual that he will not live to 40 years of life (Jurgelevicius and Tvaronaviciene, 2021).…”

Will the luxury culture of the financial industry spread to non-financial companies? Based on empirical evidence of corporate financialization

“…From a micro perspective, it reflects the fact that companies pay more attention to financial investment and underestimate productive investment, which leads to obtaining higher profits through financial channels researchers (Cai & Ren, 2014;Olah et al 2021). Corporate financialization means that the firm is running financial business, which results in more similarities and closer relationship with other financial companies (Jurgelevicius & Tvaronaviciene, 2021). That makes the spread of luxury culture possible.…”