How Could Venture Capitalists Improve Their Performance at Fund Management Level via Better Allocating Their Financial and Human Capitals - A Cross-Fund Approach

Venture capitalists’ performance has been studied at the levels of portfolio company and fund. But no similar study at the fund management entity level has been documented. This study fills in the gap to examine the drivers of the venture capitalists’ performance at the fund management entity level. This study uses the capital allocation theory to develop five hypotheses on its performance. Each of them embodies an aspect of the feature of capital allocation in the venture capital investment process. With an expanded concept of capital for capital allocation, this study examines the allocation of both the financial capital and the human capital of venture capitalists. The capital allocation in venture capital investment is a process of capital leveraging and channeling by venture capitalists at the fund management level to the portfolio companies. Our results show that the amount of leveraging financial capital channeled to the individual portfolio company on average is negatively associated with venture capitalists’ performance at the fund management level, while the reserve ratio of leveraging the financial capital, the degree of human capital clustering, and the quality of human capital are positively related to venture capitalists’ performance at the fund management level

TRANSFORMING MALAYSIA TOWARDS AN INNOVATION-LED ECONOMY BY LEVERAGING ON INNOVATIVE HUMAN CAPITAL

Fostering “pioneering minds” is extremely important especially in the effort to shift Malaysia towards an innovation-led economy. The Malaysian government is confident of achieving this transformation agenda provided that the human capital is leveraged in ensuring innovation at the highest level. The primary aim of this research is to investigate the predictors that could nurture the “pioneering minds” by exploring the innovative performance of human capital from the perspective of social embedment and pro-innovativeness organisational architecture which could subsequently lead to excellent organisational performance. This research contributes to the existing literature on human capital and innovation by having better understanding on the specific factors that nurture the “pioneering minds” which are crucial for innovative performance

The impact of an innovative human resource function on firm performance: the moderating role of financing strategy

The current study examined the impact of the human resource function and financing strategy on the financial performance of 104 UK manufacturing firms. Hypotheses are drawn from a resource-based perspective on human resource management and a financial theory perspective on capital structure. Results show that an innovative HR function is significantly related to economic performance. However, the relationship between an innovative HR function and economic performance was moderated by the firm¿s financing strategy. Firms obtained higher returns from an innovative HR function when pursuing a low leveraging (debt) financing strategy, a finding consistent with modern finance theory notions that firmspecific strategic assets provide greatest value when financed primarily through equity as opposed to debt

A Primer on Intellectual Capital

{Excerpt} Born of the information revolution, knowledge management has arisen in response to the belated understanding that intellectual capital is a core asset of organizations and that it should be circumscribed better. From this perspective, it is the growing body of tools, methods, and approaches, inevitably underpinned by values, by means of which organizations can bring about and maximize a return on knowledge assets, aka intellectual capital. That, Thomas Stewart explained pithily (yet broadly) is organized knowledge that can be used to generate wealth. (Conversely, it also helps to think of what intellectual capital is not, that is, monetary or physical resources.) More specifically, aggregated intellectual capital comprises • Human capital—the cumulative capabilities and engagement of an organization\u27s personnel, rooted in tacit and explicit knowledge, that can be invested to serve the joint purpose. • Relational (or customer) capital—the formal and informal external relationships, counting the information flows across and knowledge partnerships in them, that an organization devises with clients, audiences, and partners to co-create products and services, expressed in terms of width (coverage), channels (distribution), depth (penetration), and attachment (loyalty). • Structural (or organizational) capital—the collective capabilities of an organization—any of them codified, packaged, and systematized, including its governance, values, culture, management philosophy, business processes, practices, research and development, intellectual property, performance metrics, and information systems, as well as the systems for leveraging them

The Impact of an Innovative Human Resource Function on Firm Performance: the Moderating Role of Financing Strategy

The current study examined the impact of the human resource function and financing strategyon the financial performance of 104 UK manufacturing firms. Hypotheses are drawn from aresource-based perspective on human resource management and a financial theoryperspective on capital structure. Results show that an innovative HR function is significantlyrelated to economic performance. However, the relationship between an innovative HRfunction and economic performance was moderated by the firm¿s financing strategy. Firmsobtained higher returns from an innovative HR function when pursuing a low leveraging(debt) financing strategy, a finding consistent with modern finance theory notions that firmspecificstrategic assets provide greatest value when financed primarily through equity asopposed to debt.human resource function, manufacturing, firm performance, asset characteristics

Olympic legacy and cultural tourism: Exploring the facets of Athens' Olympic heritage

This study examines the effects of the Olympic Games on Athens’ cultural tourism and the city’s potential to leverage the Olympic legacy in synergy with its rich heritage in order to enhance its tourism product during the post-Games period. In doing so, a qualitative and interpretive approach was employed. This includes a literature review on Athens’ 2004 Olympics to identify the sport facilities and regeneration projects, which constitute the Olympic legacy and heritage. Based on that, an empirical analysis was undertaken, by collecting official documents about the 2004 Olympics, and conducting five semi-structured interviews with tourism/administrative officials. The findings indicate that the Olympiad contributed significantly to Athens’ built and human heritage, revealing the dimensions of new venues/facilities, infrastructure, transportation and aesthetic image of the city, and human capital enhancement. Hence, the Games affected to the multifaceted representation and reconstruction of the city’s identity and cultural heritage. However, the potential afforded from the post-Olympic Athens remains unrealised due to lack of strategic planning/management. The study concludes that there is a need to develop cross-leveraging synergies between the Olympic legacy and cultural tourism for the host city. Finally, a strategic planning framework for leveraging post-Games Olympic tourism is suggested in order to maximise the benefits of Olympic legacy and heritage in a host city’s tourism development

The Economic Impact of Human Capital in Information Systems

The growth of information technologies and a workforce capable of leveraging their capabilities have brought about heightened promises of the economic impact from technology. Increasingly, these promises reside in human capital, referring to highly educated and skilled workers with sufficient innovative acumen to bring about increases in economic output and productivity. In this study, the author used industry and occupational data on metropolitan regions in the U.S. from 2005 to 2013 to assess the economic impact of human capital in information systems. The results show moderate but significant relationships between human capital and economic performance. The study contributes to the literature on the technology- and innovation-driven economy, as well as supports policy work in generating sustainable regional economic growth. It also serves as an impetus for future research on modeling economic performance from technology assets and human capital

Leveraging the New Orleans BioDistrict to grow employment and human capital

Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2013."June 2013." Cataloged from PDF version of thesis.Includes bibliographical references (p. 66-71).Economic development projects too often fail to benefit neighborhoods of concentrated poverty and improve economic prospects for those who face barriers to employment. This thesis considers tools and strategies that city governments can use to leverage investments in economic development to achieve economic inclusion. The New Orleans BioDistrict has received more than $3 billion of investment and is expected to produce or retain 34,000 jobs over the next twenty years. An assessment of these jobs vis-a-vis adult education levels reveals that the skills required for these jobs exceed education levels of local residents. Other employment barriers include childcare and healthcare needs, transportation, and access to information. Equally significant barriers are employer hiring behaviors, which may exclude or bias hiring based on criminal record, place of residence, or the use of public assistance. All underscore the need for targeted efforts to connect local residents to the employment and educational opportunities created by the BioDistrict. Recommendations for New Orleans draw from local and regional economic analyses, as well as case studies of the Baltimore Alliance for Careers in Healthcare and the Baltimore Integration Partnership. Baltimore's experience indicates that sustained efforts and institutional commitment to economic inclusion can leverage investments in economic development to overcome employment barriers and increase local employment. To increase direct employment in the healthcare sector, the New Orleans workforce intermediary should provide additional supports to participants and employers to ensure training completion, and seek to leverage the current engagement of one firm to impact employment practices across the healthcare sector. To connect local residents to indirect employment, the BioDistrict and city government should use development incentives, requirements, and partnerships to drive commitments to local hiring; develop an external, neighborhood-based employment pipeline; and innovate and invest in adult education.by Christine Curella.M.C.P