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Toward A More Comprehensive Model of Firms' Human Capital Rents
Chadwick, Clint
Chadwick, Clint
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Abstract
Strategic human capital research has recently expanded to encompass other types of labor market frictions in addition to those posed by firm-specific human capital. Labor market frictions inhibit trade in human capital, allowing firms that are idiosyncratically advantaged with respect to a particular friction to appropriate human capital rents. Adding to this nascent conversation, I describe how idiosyncratic firm resources and capabilities enable firms to garner human capital rents. By explicitly distinguishing between value creation and value capture, which together drive firm-level human capital rents, this article’s theoretical framework uncovers overlooked circumstances where firms’ pursuit of human capital rents differ in important ways. I discuss theoretic propositions and implications to guide future research.
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Date
2017
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Academy of Management
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Research Projects
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Keywords
Human capital, Human resources, Resource-based reviews
Citation
Chadwick, C. (2017). Toward a more comprehensive model of firms’ human capital rents. Academy of Management Review, 42(3), 499-519.