Empirical Investigation of Human Capital Investments and Its Effect on Economic Growth In Nigeria (1990-2017) (Published)
The study examined the empirical investigation of human capital investments and its effect on economic growth in Nigeria; for the period 1990-2017. Secondary data were used and collected from Central Bank of Nigeria Statistical Bulletin. The study used Gross Domestic Product (GDP) and was employed as the dependent variable to measure the human capital investments on economic growth in Nigeria; whereas, government expenditure on health and government expenditure on education were also used as the independent variables to measure human capital investments in Nigeria. Hypotheses were formulated and tested using Ordinary Least Square econometrics techniques. The study showed that government expenditure on education had a significant effect on Gross Domestic Product in Nigeria. Government capital expenditure on health sector had a significant effect on Gross Domestic Product in Nigeria. The coefficient of determination indicated that about 69% of variations in Gross Domestic Product can be explained by changes in government capital expenditure variables in Nigeria. The study concluded that human capital investments had a significantly effect on economic growth in Nigeria. The study recommended that Government should ensure proper management of human capital expenditure in a manner that will promote growth and development in the economy. The government and policy makers should increase its investments in health and education; since, it would increase the level of development in the economy as well as the standard of living. Government should encourage and manage the funding of the education and health sectors. The policy makers should ensure that appropriate evaluation techniques should be used for projects that will ensure that capital expenditure is not made in an extravagant manner.
Impact of financial, social and human capital on entrepreneurial success (Published)
This paper analyzes the impact of financial, social and human capital on entrepreneurial success by examining initial investment in business, access to finance, network ties, trust in network, shared vision, education and experience as the predictors. The necessary data were collected using structured questionnaire on a sample of 118 Nepalese renewable energy enterprises having 264 respondents and analyzed through correlation and multiple regression analysis using IBM SPSS statistics 20. The study shows that the strong role played by access to finance, network ties, trust in network, education and experience while a weak role played by initial investment in business and shared vision in determining entrepreneurial success. This study is considered to be useful for biogas companies, solar companies and micro-hydro construction companies to grow their own business by focusing on the main factors affecting entrepreneurial success. The study can be further extended by incorporating other sectors of renewable energy such as, improved cooking stove, wind technology, and biomass sectors to get greater insight into the results.
Social Welfare Analysis of Gender Inequality in Education and Employment in Urban and Rural Nigeria (Published)
This study analyzes the social welfare effect of gender inequality in human capital development (education and employment) across rural and urban Nigeria. Using Nigeria most recent data set on labour force survey by NBS, which captures labour force participation by gender, gender unemployment by educational level and sector, gender schooling ratio, gender population growth rate and economic active participation by gender this study investigated how differently, gender inequality in education and employment affects women across rural and urban regions. To unravel this, we adopted Shorrock and Alkinson Generalized Lorenz approach to welfare dominance and inequality decomposition. We ranked gender inequality on education and employment by rural and urban. The study found that female unemployment by educational level is predominant in the urban sectors compared to the rural sectors. Also gender inequality is higher in labour force participation when compared with education in Nigeria.
The capacity to deploy human capital in the manufacturing sector in Nigeria has been limited by ethnicity which seems to have affected their service delivery due to their inability to utilize and implement ethnic diversity. The general objective of the study was to examine workforce diversity and performance of Nigerian Breweries Plc, Enugu, while the study specifically ascertained the relationship existing between ethnic diversity and service delivery of Nigerian Breweries Plc, Enugu. The study adopted descriptive survey design. The study has a population of 474 employees. Taro Yamane’s formula was used to determine the sample size of 217 employees. The data obtained from the questionnaire were analyzed using Pearson Product-Moment Correlation Coefficient on SPSS ver. 22. The study found out that there was a strong, positive relationship between ethnic diversity and the service delivery of Nigerian Breweries Plc, Enugu. It was recommended that the Nigerian Breweries Plc, Enugu should integrate diversity management into its management structure to ensure that organisational service delivery is enhanced through ethnic diversity
This study aims to examine and analyze the influence of economic growth determinants and economic growth spillover on the economic growth of the regencies/the cities in Sumatra Island. This study uses a quantitative analysis model of Moran’s I Global, Spatial Autoregressive Model (SAR) with weighted matrix of six and eight in the neighboring areas. The determinants of economic growth are explained by labor, human capital, catch-up technology, market potential, agricultural sector contribution, industrial sector and service sector. Based on the analysis of Moran’s I, the spatial dependence of economic growth between regencies/cities is significant in Sumatra Island. Based on SAR model, it is concluded that the spillover of economic growth, labor, contribution of agriculture sector, service sector and market potential have positive and significant influence; the contribution of industrial sector has positive but insignificant influence; while human capital and catch-up technology have negative and significant influence on the economic growth of a regency/city in Sumatra Island.
Keywords: : Human Capital, Catch-Up Technology, Contribution Of Agriculture Sector, Labor, Market Potential, Moran's I, Service Sector, Spatial Autoregressive Model (SAR), The Spillover Of Economic Growth
This paper sought to establish the state of Human capital (HC) in selected public universities in Zimbabwe in terms of prevalence of senior academics such as associate professors and professors as well as the impact on the academic and economic development of the universities and the country at large. A good number of key literary sources were consulted on which the theoretical underpinnings of the paper were grounded. A sample of five state universities was chosen. Convenient sampling was adopted whereby the universities were chosen on the basis of availability of quality and completeness of data on the university website. Data was collected on the qualifications and grade of faculty deans and department chairpersons, and lecturing staff from the universities’ websites. All in all, the study covered a total of 18 faculties and 77 departments. The results of the study showed that there was a serious absence of senior academics in selected universities compared to their counterparts in the region and that this was having a negative impact on the quality of the universities’ academic and economic activities.
Effect of Human Capital Investment on Organizational Performance of Pharmaceutical Companies in Kenya (Published)
Provision of adequate health care services to their population remains a major challenge for governments in Africa. In Kenya, the number of trained Pharmacists is increasing with time but still insufficient relative to the population in need (one pharmacist for every 8,710 persons, or approximately 0.1 per 1000 persons. Kenya had about 8 pharmacists for every 100,000 people). It was estimated that for the country to meet its health related Millennium Development Goals, the pharmacy workforce needed to grow by 28 per cent annually between 2010 and 2015. Whereas, Kenya’s population is estimated to be 43 million (provisional) in 2014, the number of registered pharmacist in 2013 was 2,202 and rose to 2,355 with a ratio of 5 pharmacists per 100,000 persons. In summary we have approximately 5:100,000, meaning 5 pharmacists to 100,000 persons, while the requirement is approximately 1:10000, meaning 1 pharmacist to 10000 persons. The current numbers of pharmacists are not adequate for achievement of the post-2015 Sustainable Development Goal 3. The study sought to establish the effect of Human Capital Investment on Organizational Performance of Pharmaceutical Companies in Kenya. The independent variables include: training, education, knowledge management and skills development. The main underpinning theories in this study include: Human Capital, Skill Acquisition and Sustainable Resource Theory. 200 observations were used in the study. Study used questionnaires in data collection, descriptive and inferential statistics used in the analysis. The found a positive significant relationship between human capital investment and organizational performance. The study recommends provision of quality education, relevant training linked to industry requirement, the study suggest adoption of German Dual Vocational Education and Training system to facilitate and strengthen linkage between education sector and the industry. Promotion of knowledge management through teamwork, social networks and knowledge management systems; training on employability and transferability skills to enhance Skills Development. The enterprises to go beyond traditional apprenticeship, Soft skills assessment in schools, embrace technology and promote intrapreneurship. The study also suggest introduction of Skill Development Fund to equip the communities and businesses with relevant skills required in the dynamic global market place.
Challenges to Sustainable Human Capital Development in Nigerian Society: Christian Moral Education Responses (Published)
The study adopted public opinion survey design to investigate challenges to human capital development in Nigerian Society: Christian Moral education response. A sample of three hundred (300) were drawn from the entire population of (508) CRS teachers in South-east geopolitical Zone of Nigeria using accidental sampling technique. A 26 items self developed, questionnaire were used to illicit information from respondents. Two research questions guided the study. The data were analyzed using mean. It was found that: poor understanding of fundamental doctrine of human progression, lack of proper moral formation, man’s non conformity to the law of nature/creation, illiteracy due to poor education, poor management of nature resources, health challenges, high population growth due to poor birth control and sexual abuses and so on constitute challenges to human capital development. The study also revealed that adequate teaching of Christian moral education will inculcate good moral behaviour in the young people, as well as creating in them good understanding of fundamental doctrine of human progression which are the basis of human development. Based on the above finding recommendations were made on improving human capital development in Nigeria
Human capital development is a process of increasing knowledge, skills, talents and competencies in vocational and technical education for increase in productivity and stimulating resourcefulness of trainees. Home economics and Social Studies must necessarily contribute to developing of human capital in the 21st century to enable families and individuals cope with the ever emerging problems and challenges. The study focused on human capital development: a panacea for entrepreneurial growth in Ebonyi State. Specifically, the study sought to ascertain the managerial skills required for entrepreneurial growth in Ebonyi State, entrepreneurial qualities required for entrepreneurial growth, ascertain how entrepreneurial growth can enhance socio-economic development of Ebonyi State. Three research questions and one hypothesis were formulated to guide the study. The area of the study is Ebonyi State. Population of the study was 220 registered entrepreneurs in Ebonyi State. There was no sampling because the population was manageable. Descriptive survey design was used for the study. Structured questionnaire was used to collect data. Data were analyzed using mean and frequency. Chi-square was used to test the hypothesis. Findings of the study showed that managers need communication, conceptual, technical skills for entrepreneurial growth. Also, discipline, creativity, and ability to motivate employees, were the entrepreneurial qualities required for entrepreneurial growth. Movement of capital goods; increase in education; creating of new jobs can enhance socio-economic development of Ebonyi State. Based on the findings, the following recommendations were made; there should be increased collaboration and cooperation between public and private sectors, among others.
IMPACT OF HUMAN CAPITAL ACCOUNTING ON CORPORATE FINANCIAL PERFORMANCE- A STUDY OF SELECTED BANKS IN NIGERIA (Published)
This study examines the Impact of Human Capital Accounting(HCA) on financial performance and market valuation using four publicly quoted companies(banks) in Nigeria. It presents a comparative analysis between the current accounting practice of corporate valuation(net worth) and what it should be if investments on human capital are treated as assets, capitalised and amortized over the useful life span of the assets. Data for this study were sourced through questionnaire which were administered to a randomly selected respondents of accountants of management cadre. Secondary data were sourced from the annual financial statements of five selected firms, relevant textbooks and the internet. Data were analysed using percentages and Chi-Square statistical test. The study reveals among others that there is a significant increase in firms’ networth when investments on human capital are treated as assets and capitalized as against the current practice where such expenditures are treated as mere revenue expenses thereby leading to gross undervaluation of firms’ Statement of Financial Position(Balance Sheet) and the Income Statement (Profit and Loss Account). The study recommends that investment in human capital should be treated as asset and so amortised over the expected period of service while the current practice of writing-off the annual investment on human capital from the the year’s income statement should be discouraged as the practice grossly undervalues firms. Relevant regulatory bodies such as Financial Reporting Council of Nigeria, SEC, CBN, NDIC and so on are implored to make laws that will compel quoted firms to compulsorily integrate HCA in their financial reports.
WHAT IT MEANS TO WORK HARD FOR CAREER PROGRESSION: A STUDY OF CORPORATE MANAGERS IN GHANA (Published)
Managerial career success is largely a function of two important career experiences: human capital, including hard work, and organizational support sponsorship. Whereas attracting and obtaining sponsorship reflects a more political explanation for career success, hard work represents a merit based and psychological explanation. However, little attention has been given to research that explores internally generated facets and psychological factors of hard work which facilitate career success. Using qualitative approach, this study was therefore conducted to explore managers’ conceptualization of hard work for career progression and success. Fifty-eight managers drawn from twelve public and private organizations in Ghana completed an open ended questionnaire on what it means to work hard for their career progression. Thematic content analysis of the data showed that four main themes underlie hard work for career progression: motivation and goal/achievement orientation; work capability/efficacy; work commitment/perseverance; and investing maximum input/extra effort. Findings are discussed within the frameworks of career achievement motivation, goal setting, self-efficacy and self-regulation theories.
INTELLECTUAL CAPITAL AND RESEARCH PERFORMANCE OF UNIVERSITIES IN SOUTHERN PUNJAB-PAKISTAN (Published)
The main purpose of this study is to examine the concept of Intellectual capital in higher education institutions/universities, justify its importance and its impact on their research output and performance. This study analyzes the impact of Intellectual Capital on university research performance in Pakistani universities and also compares the intellectual capital of two selected universities. This is an important study of the intellectual research area because the growing interest in intellectual capital has been extended from the firms to higher education institutions during the last decade. The major function of a university is exploring and transmitting knowledge which is acquired through research and education. Therefore assessing university research performance and its intellectual capital is a complex and critical issue. Furthermore intellectual capital has become a major driver for sustainable competitive advantage in all the organizations. A literature review is used to describe the intellectual capital, its components and research performance of the universities; it also highlighted the researchers’ contributions in this area of study. The study uses exploratory approach to develop the conceptual model and raised these research questions with respect to it; Is there a significant impact of intellectual capital and its components on research performance of the university?, which university BZU or IUB has the greater intellectual capital. These research questions were investigated through empirical research using a case study approach on two large general public sectors universities of Southern Punjab, Pakistan i.e. IUB and BZU. Secondary data was used and collected for the study. Descriptive, Ratio and correlation analysis were used to study the intellectual capital of the universities and its impact on their research performance. Our descriptive and Ratio analysis found that BZU has higher and positive values in the all indicators of human, structural and relational capital, which shows that BZU has greater intellectual capital then the IUB. The results of these techniques also showed that intellectual capital has a significant impact on research performance of the university in general. According to the findings all the components of intellectual capital also has a significant impact on research performance of the university, although human capital was ranked first and most important, followed by structural capital while relational capital ranked last among the components. Additionally the effect of human capital was most influential whereas relational capital did not have a significant impact. The results of this study are useful for the Universities to understand the value of their intellectual capital and exploit them for innovations and efficiency augmentation.
Most of the world is interested in follow-up and monitoring of this index periodically and continuously UNICEF is the rate of the most important Almaicrat that reflect the health status of the country. The calculation of this index shows the extent of the State’s interest in this segment of the population and the efficiency of the health system in the care of children and to ensure their health and safety and it has a mortality rate of children under five years of age at the level of Iraq, about 38 deaths per 1,000 births in 2011 despite a drop in the rate from the previous mortality rates are still high but not up to the target rate
INNOVATIVE ADAPTATION AND OPERATIONAL EFFICIENCY ON SUSTAINABLE COMPETITIVE ADVANTAGE OF FOOD AND BEVERAGE FIRMS IN KENYA (Published)
The idea that an organization’s members are the real source of its competitive advantage has long been acknowledged. The significance of human capital as a determinant of firm performance is gaining recognition in the strategic management literature, and the need for relating employee talent to a firm’s competitive advantage is continuing to develop in the human resource management arena hence the drive to establish superior human capital to generate competitive advantage Many firms have explicitly embraced competitive strategies to gain and maintain a lead in their industries. In all the competitive strategies firms have engaged in, human capital has been the driver of competition. This study endeavoured to empirically test the effects of human capital and especially in innovation and operational efficiency in according food and beverage firms the requisite competitive advantage in the very dynamic industry. the study sought to answer the following research question: What are the effects of human capital (in innovative adaptation and dynamic operational efficiency) on firms’ ability to attain sustainable competitive advantage within the F & B companies in Kenya? This research entailed a descriptive study design. This study sought to do that among the F & B firms in Kenya. The study was concerned with describing the characteristics of a unique group of food and beverage firms and their competitiveness. From the study, 87 percent of respondents indicated concurrence on usefulness of human resources for SCA. Kenyan firms in the food and beverage industry therefore highly regard human capital as a major contributor to sustainable competitive advantage. The study established that internal processes largely rely on how capabilities are harnessed for competitive advantage.
INNOVATIVE ADAPTATION AND DYNAMIC OPERATIVE EFFICIENCY ON SUSTAINABLE COMPETITIVE ADVANTAGE OF FOOD AND BEVERAGE FIRMS IN KENYA (Review Completed - Accepted)
The significance of human capital as a determinant of firm performance is gaining recognition in the strategic management literature. The need for relating employee talent to a firm’s competitive advantage is continuing to develop and to gain recognition as a driver in generating competitive advantage. Many firms have explicitly embraced competitive strategies to gain and maintain a lead in their industries. In all the competitive strategies firms have engaged in, human capital has been the driver of competition. This study endeavoured to empirically test the effects of human capital and especially innovation and operational efficiency on competitive advantage in a very dynamic industry of food and beverage. The study sought to answer the following research question: What are the effects of human capital (in innovative adaptation and dynamic operational efficiency) on firms’ ability to attain sustainable competitive advantage within the F & B companies in Kenya? This research entailed a descriptive study design. The study was concerned with describing the characteristics of a unique group of food and beverage firms and their competitiveness. The study concluded that Kenyan firms in the food and beverage industry highly regard human capital as a major contributor to sustainable competitive advantage. The study established that internal processes largely rely on how capabilities are harnessed for competitive advantage.
Returns from Investment in Technical and Professional Education with Reference to J.N.V. University, Jodhpur (Rajasthan) India (Published)
Angus Maddison (Former Member of OECD) in his article “What is Education For” published in Lloyds Bank Review describes the major purpose of education as to provide opportunities for self-fulfilment and personal development – a more complex process with humans than with animals because of the vast stock of knowledge we have accumulated. Access to this heritage is a basic human right which should yield satisfaction throughout life. “Education is designed to produce existing knowledge in new minds and to make these minds more receptive and more capable of absorbing, transforming, creating and using knowledge, Research and Development, meanwhile, is designed to produce new knowledge. This crucial segment of the knowledge industry sustains a two-way link between successful investment, which permits the faster growth of GNP, and GNP growth, which permits more investment in knowledge production” (Burke, Willam 1966). That education adds to the productivity and earning power of the individual and can raise a nation’s level of GNP has long been recognised. However, implications of treating investment in human capital, analogues to that in physical capital is the story of past fifty years. The basis of the argument is the empirical evidences. According to Brookings institutions’ Edward Denison, knowledge investment accounted for about 40 per cent of the 2.9 per cent annual rate of growth in the 1929-1957 period. Denison further estimates that the education of the labour force was responsible for 23 per cent of the growth in real national income in that period. The calculus of cost and benefits from investment in education of thirsty countries have shown education to have been a worthwhile investment and results have shown that further expansion of educational facilities is warranted in most countries, except at postgraduate level (Psacharopoulos , 1973). The ‘Chicago School’ of economists has been the first in developing a theory of human capital. These economists estimated the variations in earnings by education-standard as a measure of its economic benefit and they have used earnings and costs of education to calculate private and social rates of return from investment in education.