Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=53156#.VLXf08nQrzE Author(s) Marko Kesti * , Antti Syväjärvi Affiliation(s) Department of Administrative Sciences, University of Lapland, Rovaniemi, Finland . ABSTRACT Research-based view studies indicate that companies can distinguish themselves in competition through a profound understanding of their resources and through continuous improvement of their human competencies. It seems that human competencies form an intangible asset, which in turn forms sustainable, unique strengths that are key to firm-specific superior performance. Evidence-based human resource management argues that gaining competitive advantage through human capital development should be verified and estimated scientifically. This article presents the scientifically solid theory of Human Capital Production Function, which explains tangible and intangible human capital’s wo...
Scientific Research Publishing