Abstract
We view the entrepreneur as an agent who possesses human capital in the form of specific skills or talents. When she starts a firm, her human capital is essential to the firm and it has substantial private value. The entrepreneur transforms her human capital over time into what we call organization capital. This organization capital can be sold as part of the firm, and so the dynamic process of transforming specific human capital into organization capital means that the value of the firm increases over time.
| Original language | English (US) |
|---|---|
| Title of host publication | International Trade and Economic Dynamics |
| Subtitle of host publication | Essays in Memory of Koji Shimomura |
| Publisher | Springer Berlin Heidelberg |
| Pages | 499-511 |
| Number of pages | 13 |
| ISBN (Print) | 9783540786757 |
| DOIs | |
| State | Published - 2009 |
| Externally published | Yes |
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
- Business, Management and Accounting(all)