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BACKGROUND: Productivity is essential for economic development. However, the computation of the total factor productivity (TFP) for research and development (R&D) firms is largely ignored by the previous literature, in particular in the Eastern European countries. OBJECTIVE: The purpose of this paper is to analyze to what extent the national human capital index (NHCI) influences TFP for a set of 116 Romanian firms, acting in the R&D industry. METHODS: We compute the TFP level using different approaches, by analyzing firm-level data from the period of 2007 to 2016. At the same time, we resort to a common factor analysis (CFA) to derive the NHCI for Romania. Afterwards we apply a panel data investigation to see the impact of NHCI on TFP and we use several control variables as firm-level financial performances and firm’s size. RESULTS: Our estimation reveals that NHCI, a component of the national intellectual capital index, has a significant but marginal impact on TFP, whereas the financial performances play a more important role in enhancing firms’ productivity. CONCLUSIONS: The national human capital influences the firm productivity in the long run. At the same time, larger companies are financially more stable compared with their smaller counterparts and record a higher TFP.
BACKGROUND: Productivity is essential for economic development. However, the computation of the total factor productivity (TFP) for research and development (R&D) firms is largely ignored by the previous literature, in particular in the Eastern European countries. OBJECTIVE: The purpose of this paper is to analyze to what extent the national human capital index (NHCI) influences TFP for a set of 116 Romanian firms, acting in the R&D industry. METHODS: We compute the TFP level using different approaches, by analyzing firm-level data from the period of 2007 to 2016. At the same time, we resort to a common factor analysis (CFA) to derive the NHCI for Romania. Afterwards we apply a panel data investigation to see the impact of NHCI on TFP and we use several control variables as firm-level financial performances and firm’s size. RESULTS: Our estimation reveals that NHCI, a component of the national intellectual capital index, has a significant but marginal impact on TFP, whereas the financial performances play a more important role in enhancing firms’ productivity. CONCLUSIONS: The national human capital influences the firm productivity in the long run. At the same time, larger companies are financially more stable compared with their smaller counterparts and record a higher TFP.
BACKGROUND/OBJECTIVE: In today’s volatile business environment, the competitive advantages of firms are temporary. The top management does not, and cannot, have all the answers to increasingly complex and rapidly changing problem situations facing their firms. Since the COVID-19 crisis, organizations have been under pressure to improve their knowledge management practices to continue creating value. Knowledge management capabilities are essential for business performance and competitive advantage. In order to ensure continuous value creation, we conducted research to identify various drivers and dimensions that were revitalized in the ongoing KM practices post-pandemic. METHODOLOGY: In this study, 81 research papers published between January 2010 and March 2022, have been examined from a knowledge management, human capital, and value creation perspective, aiming to understand how a firm can continue to create value before, during, and after the pandemic. RESULTS/CONCLUSION: Our review identifies critical factors in knowledge management and value creation and how companies generate value by leveraging KM during the COVID-19 pandemic. As a result of the research, the authors describe their findings in the form of a conceptual framework which deals with the various drivers and the factors within the KM architecture.
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