Evaluation of Human Capital Role in the Value Creation Process

Human Capital Development in Crisis Conditions. Evidence from Romania

“…Human capital is the main engine of action of the company, being the most important resource that leads to the achievement of the set objectives and, implicitly, of the performance, but also one of the elements that influence the innovation. The significance of human capital in a hypercompetitive environment like the one that exists today is undoubtedly extraordinary (Liepė and Sakalas, 2014). Thus, the role of human capital is a vital one in the existence, survival and development of the company, being considered "the most important capital" (Hitt and Duane, 2002) and "a central element of the theory of economic growth" (Storper and Scott, 2009).…”

“…However, in practice, good results are achieved in those more developed countries, which have remarkable natural resources and a high-tech material base. This does not negate the role of human capital in the process of economic development but must be based on appropriate economic calculations (Liepė and Sakalas, 2014). The value of resources is always dependent on knowledge, individual or managerial, and human capital outlines new ways of thinking about technology and its economic and social impact (Galabova and McKie, 2013).…”

“…The value of resources is always dependent on knowledge, individual or managerial, and human capital outlines new ways of thinking about technology and its economic and social impact (Galabova and McKie, 2013). This impact of human capital in the process of value creation is recognized internationally as an important issue (Baron and Armstrong, 2007;Hsu et al, 2007;Crook et al, 2011;Coco, Jamison and Black, 2011;Liepė and Sakalas, 2014).…”

Measuring the Effect of Human Capital as a Source of value in the Wood Sector of Galiza and Portugal (2002-2017)

“…Several authors studied the correlation between investments in human capital and value creation for the firm in different sectors in different parts of the world, namely Riahi-Belkaoul (2003), Mavridis (2004), Chen et al (2005), Tseng & Goo (2005), Ng (2006), Pew et al (2007), Kamath (2008), Shih (2010), Maditinos et al (2011), Komnenic & Pokrajčić (2012), Liepé & Sakalas (2014), Andreeva & Garanina (2016), McDowell et al (2018, among others. Their findings and conclusions are mostly consensual as it was proved that investments in human capital have a positive effect on value creation and profitability, both for the manufacturing sector as well as the services sectors, even in the case of small organizations that often invest heavily in intellectual capital through their employees, communications, and processes and leverage such investments to foster innovation within the company (Maes & Sels, 2014).…”