IDEAS home Printed from https://ideas.repec.org/a/ags/iepeoa/206925.html
   My bibliography  Save this article

Can Human Resources Induce Sustainability In Business? Modeling, Testing And Correlating Hr Index And Company’S Business Results

Author

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

Abstract

In this paper the authors analyze the impact of the composite human resource index on sustainable growth in a specific business sector in a transition country. Sustainability of country’s economy is growingly relying on the knowledge economy which has been implemented in strategies of sustainable development throughout Europe. The knowledge economy is mostly based on human resources and the way they are organized and managed in the companies actively operating in competitive markets. In order to confirm importance of the human resources (HR) index, results were tested by means of modeling, measuring and correlating the HR index with business results at micro level. The tests were conducted on the data from the survey in Serbian meat processing industry. The results were then compared with the results from the survey conducted in a financial industry. Moreover, a model was made that could be applicable in all countries that do not have available official statistic data on the level of investments in human resources. The focus was on determining the correlation direction, and hence creating a research model applicable in all business sectors. It has been found that a significant one-way correlation exists between business performance and increased HR index. In that way it has been confirmed that in Serbian economy that has recorded global decrease during transition, certain business sectors, and especially companies with high levels of investments in improving its HR index record above average and sustainable growth.

Suggested Citation

  • Zubović, Jovan & Jeločnik, Marko & Subić, Jonel, 2015. "Can Human Resources Induce Sustainability In Business? Modeling, Testing And Correlating Hr Index And Company’S Business Results," Economics of Agriculture, Institute of Agricultural Economics, vol. 62(2), pages 1-22, June.
    • Handle: RePEc:ags:iepeoa:206925
    DOI: 10.22004/ag.econ.206925
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/206925/files/8%20EP%202%202015.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.206925?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kean Birch & Les Levidow & Theo Papaioannou, 2010. "Sustainable Capital ? The Neoliberalization of Nature and Knowledge in the European “Knowledge-based Bio-economy”," Sustainability, MDPI, vol. 2(9), pages 1-21, September.
    2. Dearden, Lorraine, et al, 2002. "The Returns to Academic and Vocational Qualifications in Britain," Bulletin of Economic Research, Wiley Blackwell, vol. 54(3), pages 249-274, July.
    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. Aleksandra Jezierska-Thöle & Roman Rudnicki & Łukasz Wiśniewski & Marta Gwiaździńska-Goraj & Mirosław Biczkowski, 2021. "The Agri-Environment-Climate Measure as an Element of the Bioeconomy in Poland—A Spatial Study," Agriculture, MDPI, vol. 11(2), pages 1-19, February.
    2. Conlon, Gavan, 2001. "The incidence and outcomes associated with the late attainment of qualifications in the United Kingdom," LSE Research Online Documents on Economics 19540, London School of Economics and Political Science, LSE Library.
    3. Harmon, Colm & Hogan, Vincent & Walker, Ian, 2003. "Dispersion in the economic return to schooling," Labour Economics, Elsevier, vol. 10(2), pages 205-214, April.
    4. Hector Espinoza & Stefan Speckesser, 2019. "A Comparison of Earnings Related to Higher Level Vocational/Technical and Academic Education," National Institute of Economic and Social Research (NIESR) Discussion Papers 502, National Institute of Economic and Social Research.
    5. Esther Mirjam Girsberger & Miriam Rinawi & Matthias Krapf, 2018. "Wages and Employment: The Role of Occupational Skills," CESifo Working Paper Series 7114, CESifo.
    6. Hiedanpää, Juha & Ramcilovik-Suominen, Sabaheta & Salo, Matti, 2023. "Neoliberal pathways to the bioeconomy: Forest land use institutions in Chile, Finland, and Laos," Forest Policy and Economics, Elsevier, vol. 155(C).
    7. Sara Connolly & Mary Gregory, 2008. "Moving Down: Women's Part‐Time Work and Occupational Change in Britain 1991–2001," Economic Journal, Royal Economic Society, vol. 118(526), pages 52-76, February.
    8. Celeste K. Carruthers & Christopher Jepsen, 2020. "Vocational Education: An International Perspective," CESifo Working Paper Series 8718, CESifo.
    9. Lorraine Dearden & Leslie McGranahan & Leslie McGranahan & Barbara Sianesi, 2004. "Returns to Education for the Marginal Learner: Evidence from the BCS70," CEE Discussion Papers 0045, Centre for the Economics of Education, LSE.
    10. Walker, Ian & Zhu, Yu, 2005. "The College Wage Premium, Overeducation, and the Expansion of Higher Education in the UK," IZA Discussion Papers 1627, Institute of Labor Economics (IZA).
    11. Oscar Marcenaro-Gutierrez & Fernando Galindo-Rueda & Anna Vignoles, 2008. "Who actually goes to university?," Studies in Empirical Economics, in: Christian Dustmann & Bernd Fitzenberger & Stephen Machin (ed.), The Economics of Education and Training, pages 79-103, Springer.
    12. Stefano Ponte & Kean Birch, 2014. "Guest Editorial," Environment and Planning A, , vol. 46(2), pages 271-279, February.
    13. Ruhet Genç & Eda Aylin Genç, 2017. "Promotion of Social Inclusion through New Steps in Tourism," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(3), pages 194-201, JUNE.
    14. Machin, Stephen & McNally, Sandra & Ruiz-Valenzuela, Jenifer, 2020. "Entry through the narrow door: The costs of just failing high stakes exams," Journal of Public Economics, Elsevier, vol. 190(C).
    15. Jo Blanden & Lindsey Macmillan, 2014. "Education and Intergenerational Mobility: Help or Hindrance?," CASE Papers case179, Centre for Analysis of Social Exclusion, LSE.
    16. repec:cep:sticas:/179 is not listed on IDEAS
    17. Anna Vignoles & Fernando Galindo‐Rueda & Leon Feinstein, 2004. "The Labour Market Impact of Adult Education and Training: A Cohort Analysis," Scottish Journal of Political Economy, Scottish Economic Society, vol. 51(2), pages 266-280, May.
    18. Andy Dickerson & Steven McIntosh, 2013. "The Impact of Distance to Nearest Education Institution on the Post-compulsory Education Participation Decision," Urban Studies, Urban Studies Journal Limited, vol. 50(4), pages 742-758, March.
    19. Joana Ramanauskaitė, 2021. "The Role of Incumbent Actors in Sustainability Transitions: A Case of LITHUANIA," Sustainability, MDPI, vol. 13(22), pages 1-19, November.
    20. Balestra, Simone & Backes-Gellner, Uschi, 2017. "Heterogeneous returns to education over the wage distribution: Who profits the most?," Labour Economics, Elsevier, vol. 44(C), pages 89-105.
    21. Patricia A. Henríquez-Piskulich & Constanza Schapheer & Nicolas J. Vereecken & Cristian Villagra, 2021. "Agroecological Strategies to Safeguard Insect Pollinators in Biodiversity Hotspots: Chile as a Case Study," Sustainability, MDPI, vol. 13(12), pages 1-31, June.

    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:ags:iepeoa:206925. 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: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/iepbgyu.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.