• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Impact of Human Capital on Company Value

Student: Andrey Kolysh

Supervisor: Iuliia N. Naidenova

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Finance (Master)

Year of Graduation: 2021

This Student Thesis is aimed at studying the issue of the impact of human capital on the value of a company using the example of economic value added (EVA). The sample for the study was composed of companies that were included in the MOEX as of 2017. Human capital is formed due to the curtailment of wages, professional experience of board members, as well as the degree of education of members of the board of directors using the principal components method. The regression was built using the structural equation method. In the course of writing the thesis, a partial mediation effect was established using the mediator variable - the operating income from the employee. As the main assumptions about the reasons for the dynamics of EVA, the author cites the following: the relationship between economic value added and GDP growth, the overwhelming share of workers with secondary specialized and higher education does not contribute to the growth of human capital capitalization, corporate universities have a negative effect on the issue of increasing HC.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses