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| Author: | Bowman, C. Swart, J. |
| Title: | Whose human capital? The challenge of value capture when capital is embedded. |
| Journal: | Journal of Management Studies
2007 : JUN, VOL. 44:4 p. 488-505 |
| Index terms: | human capital |
| Freeterms: | knowledge-based industries embedded capital |
| Language: | eng |
| Abstract: | Current views that position human capital as central to value generation in knowledge-based industries obscure the significance of the relational nature of knowledge production. The authors recognize a relational form of capital, embedded capital, which the authors argue is the critical resource in knowledge-based industries such as professional services firms, since it allows us to include agency and interdependency in the value capture process. Examples of embedded capital include processes, procedures and brand value. The arrangement and deployment of embedded capital is also not clearly controlled by either the company or individual employees. The authors develop a model to show the links between each form of capital, and the processes of value capture. This conceptual identification of the embedded form of capital is thus of significance to later value creation and capture debates. |
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