Human Capital Efficiency in Postgraduate Management Education: A Comparative Framework of MBA and PhD Study Pathways

This paper proposes a conceptual and methodological framework for comparing the added educational value of MBA and doctoral management education in relation to human capital efficiency. The problem is relevant because MBA and PhD pathways are often evaluated through different criteria: MBA study is usually associated with managerial application, career mobility and immediate organizational usefulness, whereas doctoral study is connected with research competence, analytical depth, critical thinking and longer-term knowledge creation. A direct comparison therefore requires a transparent measurement logic that does not reduce postgraduate education to the formal degree itself. The paper develops an index-based framework combining a knowledge, skills and abilities index with a performance-related index. It further proposes normalization of indicators, matched-pair comparison of MBA and PhD graduates and the inclusion of short-term and long-term time horizons. The framework is designed as a basis for future empirical validation rather than as a presentation of completed statistical results. Its contribution lies in the creation of a structured evaluation model that can support academic institutions, employers and individual learners in interpreting the contribution of different forms of postgraduate management education to human capital development.