- List of Figures
- List of Tables
- Foreword by Gary S. Becker
- List of Contributors
- An Economic Perspective on the Notion of ‘Human Capital’
- A Social Perspective: Exploring the Links between Human Capital and Social Capital
- Global Culture Capital and Cosmopolitan Human Capital: The Effects of Global Mindset and Organizational Routines on Cultural Intelligence and International Experience
- Cognition and Human Capital: The Dynamic Interrelationship between Knowledge and Behavior
- A Capital-Based Approach to the Firm: Reflections on the Nature and Scope of the Concept of Capital and its Extension to Intangibles
- Human Capital and Transaction Cost Economics
- Human Capital and Agency Theory
- Human Capital in the Resource-Based View
- Human Capital, Entrepreneurship, and the Theory of the Firm
- The Firm, Human Capital, and Knowledge Creation
- Human Capital, HR Strategy, and Organizational Effectiveness
- How Organizations Obtain the Human Capital they Need
- Aligning Human Capital with Organizational Needs
- Maximizing Value from Human Capital
- Accounting for Human Capital and Organizational Effectiveness
- Interdependencies between People in Organizations
- Understanding Interdependencies between Human Capital and Structural Capital: Some Directions from Kantian Pragmatism
- The Distributed and Dynamic Dimensions of Human Capital
- Human Capital and the Organization–Accommodation Relationship
- Interdependencies between People and Information Systems in Organizations
- Human Capital, Capabilities, and the Firm: Literati, Numerati, and Entrepreneurs in the Twenty-First-Century Enterprise
- Looking to the Future: Bringing Organizations Deeper into Human Capital Theory
- Human Capital Formation Regimes: States, Markets, and Human Capital in an Era of Globalization
- Human Capital in Developing Countries: The Significance of the Asian Experience
- The Future of Human Capital: An Employment Relations Perspective
Abstract and Keywords
This article looks at human capital (HC) in the context of the knowledge-based view of the firm. While personal notions of knowledge as HC are axiomatic, they also recognize collective or community processes. But their interplay is a problem, and the article argues that there has been little attention to the microfoundational aspects of aligning the interests of the various individuals involved. It proposes a relationship between the individual and the firm that takes divergent interests into account. The article reviews the history of HC theory and considers the relation between the individual knowledge-based HC and that of the firm. It concludes that three important results emerge from a democratic and cooperative approach to management: firm-level knowledge results only when individuals contribute beyond the terms specifiable in their employment contract, non-pecuniary rewards are essential, and the motivational aspects become those that define the firm.
Georg Von Krogh is a Professor at ETH Zurich, where he holds the Chair of Strategic Management and Innovation. He is also the Head of ETH Zurich's Department of Management, Technology, and Economics. He specializes in competitive strategy, technological innovation, and knowledge management. He has conducted research in various industries including financial services, media, computer software and hardware, life-sciences, and consumer goods, and has coauthored books on strategic management, knowledge creation, innovation, and organization and management theory. His articles have been published in leading journals including Management Science, Organization Science, Research Policy, Strategic Management Journal, and Harvard Business Review. He is a Senior Editor of Organization Studies, and an editorial board member of a number of journals including European Management Journal, European Management Review, MIT Sloan Management Review, and Long Range Planning.
Martin W. Wallin is a post-doctoral researcher at the Department of Management, Technology, and Economics, ETH Zurich, Switzerland. He was born in Ludvika, Sweden, and was educated at Chalmers University of Technology, where he received his M.Sc. (Industrial Engineering and Management) and Ph.D. (Technology Management). His research is focused on the organizational and motivational implications of distributed innovation. His empirical research has been conducted in several industries, including information technology, software, chemicals, and professional services. He teaches strategy, industry analysis and marketing, and has been a visiting researcher at Stanford University. He is author of a number of peer-reviewed book chapters and articles in refereed journals, including R&D Management, Organizational Dynamics, Research Policy, and Technovation.
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