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The Models For Company'S Human Capital Estimation, Based On The Stochastic Frontier Approach

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  • Sergey Aivazian
  • Mikhail Afanasyev

Abstract

This paper contributes to the development of the methodology of company's productive potential estimation by suggesting the approach to the estimation of its human capital, based on the stochastic frontier approach. The results of the empirical analysis of a scientific organization's human capital are presented, supporting the possibility of the application of the proposed approach to the estimation of the human capital amount and efficiency from both the company and its employees' perspectives.

Suggested Citation

  • Sergey Aivazian & Mikhail Afanasyev, 2012. "The Models For Company'S Human Capital Estimation, Based On The Stochastic Frontier Approach," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(1), pages 7-26.
  • Handle: RePEc:mje:mjejnl:v:8:y:2012:i:1:p:7-26
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    References listed on IDEAS

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    1. Aivazian, Sergei & Afanasiev, Mikhail, 2009. "Estimation of the Economic Efficiency of a Shift to the Achievable Production Potential," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 15(3), pages 43-55.
    2. Battese, George E. & Coelli, Tim J., 1988. "Prediction of firm-level technical efficiencies with a generalized frontier production function and panel data," Journal of Econometrics, Elsevier, vol. 38(3), pages 387-399, July.
    3. Reifschneider, David & Stevenson, Rodney, 1991. "Systematic Departures from the Frontier: A Framework for the Analysis of Firm Inefficiency," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(3), pages 715-723, August.
    4. Theodore W. Schultz, 1960. "Capital Formation by Education," Journal of Political Economy, University of Chicago Press, vol. 68, pages 571-571.
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