IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/31789.html
   My bibliography  Save this paper

Analiza HR indeksa u finansijskom sektoru Srbije
[Analysis of HR Index in Serbian Financial Sector]

Author

Listed:
  • Zubović, Jovan
  • Jeločnik, Marko
  • Subić, Jonel

Abstract

In this paper authors analyzed the importance of investments in human resources. This has been done through an empirical study conducted in Serbian financial sector, in which we measure the impact of human resources index level (HR index) on company business results. Research was implemented in such a way as to be applicable for research in all other business sectors. Literature review of other authors showed that during last 20 years similar research has been preformed in developed countries. While in Serbia there is no system for continuous monitoring of investments in human resources, in this paper authors used the model based on Cranet methodology, which has been adapted to business environment in Serbia. Correlation analysis has shown that there is a high level of dependency between business results on the one side and training policy, system for defining training needs, quality human resources department and HR index on the other side. It is confirmed that a high level of HR index in financial institutions in Serbia leads to improved business results of a company. We expect that results from this research lead to allocation of more funds for improvement of human capital, and that they would open a path for continued research of these investments in other business sectors.

Suggested Citation

  • Zubović, Jovan & Jeločnik, Marko & Subić, Jonel, 2010. "Analiza HR indeksa u finansijskom sektoru Srbije [Analysis of HR Index in Serbian Financial Sector]," MPRA Paper 31789, University Library of Munich, Germany, revised Oct 2010.
    • Handle: RePEc:pra:mprapa:31789
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/31789/1/MPRA_paper_31789.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jovan Zubovic, 2007. "Investing in Human Resources," Economic Analysis, Institute of Economic Sciences, vol. 40(1-2), pages 1-4.
    2. Jorgenson, Dale W & Fraumeni, Barbara M, 1992. " Investment in Education and U.S. Economic Growth," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(0), pages 51-70, Supplemen.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhang, Xiaobei & Wang, Xiaojun, 2021. "Measures of human capital and the mechanics of economic growth," China Economic Review, Elsevier, vol. 68(C).
    2. Derek Bosworth & Joanne Loundes, 2002. "The Dynamic Performance of Australian Enterprises," Melbourne Institute Working Paper Series wp2002n03, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    3. de Meulemeester, Jean-Luc & Rochat, Denis, 1995. "A causality analysis of the link between higher education and economic development," Economics of Education Review, Elsevier, vol. 14(4), pages 351-361, December.
    4. Daren, Conrad, 2007. "Education and Economic Growth: Is There a Link?," MPRA Paper 18176, University Library of Munich, Germany, revised 2009.
    5. Milenko Popovic, 2007. "Rising Wage Inequality, Rate Of Return On Investment In Education, And Cost Of Education," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 3(5), pages 35-58.
    6. Janda, Karel & Quarshie, Gregory, 2017. "Natural Resources, Oil and Economic Growth in Sub-Saharan Africa," MPRA Paper 76748, University Library of Munich, Germany.
    7. Max Gillman, 2019. "A Human Capital Theory of Structural Transformation," CERGE-EI Working Papers wp648, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    8. Li, Tingting & Lai, Jennifer T. & Wang, Yong & Zhao, Dingtao, 2016. "Long-run relationship between inequality and growth in post-reform China: New evidence from dynamic panel model," International Review of Economics & Finance, Elsevier, vol. 41(C), pages 238-252.
    9. Jeff Luckstead & Seung Mo Choi & Stephen Devadoss & Ron C. Mittelhammer, 2014. "China's catch-up to the US economy: decomposing TFP through investment-specific technology and human capital," Applied Economics, Taylor & Francis Journals, vol. 46(32), pages 3995-4007, November.
    10. Jean-Luc Demeulemeester & Claude Diebolt, 2011. "Education and Growth: What Links for Which Policy?," Historical Social Research (Section 'Cliometrics'), Association Française de Cliométrie (AFC), vol. 36(4), pages 323-346.
    11. Barbara M. Fraumeni & Michael S. Christian & Jon D. Samuels, 2020. "The Accumulation of Human and Market Capital in the United States: The Long View, 1948–2013," NBER Working Papers 27170, National Bureau of Economic Research, Inc.
    12. Sawami Matsushita & Abu Siddique & Margaret Giles, 2006. "Education and Economic Growth: A Case Study of Australia," Economics Discussion / Working Papers 06-15, The University of Western Australia, Department of Economics.
    13. Norman Baldwin & Stephen Borrelli, 2008. "Education and economic growth in the United States: cross-national applications for an intra-national path analysis," Policy Sciences, Springer;Society of Policy Sciences, vol. 41(3), pages 183-204, September.
    14. Astrid Oline Ervik & Erling Holmøy & Torbjørn Hægeland, 2003. "A Theory-Based Measure of the Output of the Education Sector," Discussion Papers 353, Statistics Norway, Research Department.
    15. Kazi Musa & Norli Ali & Jamaliah Said & Farha Ghapar & Oleg Mariev & Norhayati Mohamed & Hirnissa Mohd Tahir, 2023. "Does the Effectiveness of Budget Deficit Vary between Welfare and Non-Welfare Countries?," Sustainability, MDPI, vol. 15(5), pages 1-22, February.
    16. Jean Luc De Meulemeester & Claude Diebolt, 2004. "The economies of education: unkept promises?," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 47(3-4), pages 303-320.
    17. Gang Liu, 2015. "A stylized satellite account for human capital," Discussion Papers 816, Statistics Norway, Research Department.
    18. Jean Luc de Meulemeester & Claude Diebolt, 2007. "Education et croissance : quel lien, pour quelle politique ?," Working Papers 07-08, Association Française de Cliométrie (AFC).
    19. Milenko Popovic, 2006. "Capital Augmenting And Labor Augmenting Approach In Measuring Contribution Of Human Capital And Education To Economic Growth," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 2(4), pages 71-108.
    20. Sivropoulos-Valero, Anna Alexandra, 2021. "Education and economic growth," LSE Research Online Documents on Economics 114434, London School of Economics and Political Science, LSE Library.

    More about this item

    Keywords

    Ulaganje u ljudske resurse; Finansijski sektor Srbije; Korelaciona analiza; Modeliranje;
    All these keywords.

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:31789. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.