Hasil untuk "Capital. Capital investments"

Tat'iana Tsetsiarynets

Article is devoted to the current problems characteristic not only for Belarus, but practically to all countries of the former Soviet Union which main essence consists in the analysis of investment ensuring formation of the human capital. Purpose: the analysis and assessment of the key macroeconomic indicators, socio-economic factors and institutional conditions of investment ensuring formation of the human capital in Republic of Belarus. Methods – are used the main methods of scientific knowledge, such as analysis, synthesis, comparisons, tabular, etc. Results of work: The paradigm of innovative and technological development which is based on such progressive factors as digitalization of economy, scientific and technical progress, the intellectual capital, industrialization, etc. has the dominating impact on formation of modern society. It is aggregated them it is possible to divide into two big groups: the investment, including structure and structure of fixed assets and intangible assets of the industry, volumes of investment resources, innovative activity, and the human, including quantities of human resources, labor productivity level, degree of qualification of workers, scientific and innovative potential, etc. Their influence is defining and does not raise doubts in scientific and practical community. Formation of innovative economy assumes active introduction of achievements of scientific and technical progress, modernization of the production technology of products, improvement of organizational and economic mechanisms of management. The economy of knowledge is produced directly by the people generating the new ideas, knowledge, technologies. Progressive rates of technological progress are caused not only by existence of certain material and technical resources, but also quantitative structure and a qualitative condition of human resources. In this regard the special relevance is acquired by questions of investment of human development for the purpose of transformation of human resources of society in the most valuable capital – human. In article the main theoretical approaches to definition of the concept «human capital» are considered. The analysis of the key macroeconomic indicators reflecting trends in the sphere of investment ensuring formation and development of the human capital is carried out. An assessment of an intellectual and innovative component of the human capital in Republic of Belarus is given. Conclusions: The main directions of increase in efficiency of investment ensuring formation and development of the human capital are defined.

Adam Dinham

Julia Eisenberg

Joan A. Ballantine, Stephanie Stray

Reports on the findings of two surveys which examined the way organisations evaluate information systems/technology and other capital of investments. The issues addressed include the following: the extent of evaluation; the extent to which evaluation depends on organisational factors, such as project cost and level of organisational turnover; the existence of formal procedures of evaluation; the financial and other criteria used to evaluate investments, and their importance; and the problems organisations face when evaluating both types of investment. In addressing the above issues the study serves two objectives: first, the findings provide valuable insights regarding the way both types of investments are evaluated, which is currently lacking in both the information systems and the accounting and finance literature, and second, the findings enable confirmation or refutation of some of the popular myths which exist in the information systems literature that such investments are different, are therefore evaluated in a “different” way and present “different” problems when compared to other types of organisational investment.

Jonathan H. Westover

Despite $30–40 billion in enterprise GenAI investment, 95% of organizations achieve zero measurable return, trapped on the wrong side of what we term the "GenAI Divide." This review synthesizes findings from MIT's Project NANDA research examining 300+ AI implementations and interviews with 52 organizations to identify why pilots stall and how exceptional performers succeed. The divide stems not from model quality or regulation, but from a fundamental learning gap: most enterprise AI systems lack memory, contextual adaptation, and continuous improvement capabilities. While consumer tools like ChatGPT achieve 80% exploration rates, custom enterprise solutions suffer 95% pilot-to-production failure rates. Organizations crossing the divide share three patterns: they partner rather than build (achieving 2x higher success rates), empower distributed adoption over centralized control, and demand learning-capable systems that integrate deeply into workflows. Back-office automation delivers superior ROI compared to heavily-funded sales functions, though measurement challenges persist. The emerging agentic web—enabled by protocols supporting persistent memory and autonomous coordination—represents the infrastructure required to bridge this divide at scale.

Sorin Gog

Зина Абдуловна Арсаханова

Сформированный и развитый человеческий капитал является основой развития социально-экономических систем любого уровня. При этом эффективность деятельности субъектов экономических отношений напрямую зависит от кадровой составляющей их экономического потенциала, ведь ответственный, квалифицированный и мотивированный персонал является основой успешной реализации управленческих решений, реализации стратегий развития, соблюдения экономической безопасности субъекта. В свою очередь, если все без исключения проблемные вопросы мотивации персонала к достижению целей организации, как субъекта экономических отношений, решаются на микроуровне, то есть во внутренне-организационном среде, то проблемы формирования ответственности и квалификации наемных работников напрямую зависит от приобретенной ими образования. Указанное актуализирует роль и значение системы высшего образования, которая уже на протяжении более чем двадцати лет стала не привилегией наиболее одаренных, а настоящим источником квалифицированных кадров для всех сфер, секторов и отраслей национальной экономики, как системообразующей звенья процесса формирования человеческого капитала субъектов экономической, прежде всего, производственно-коммерческой деятельности. Последнее предопределяет приоритетность развития именно субъектов предоставления образовательных услуг в сфере высшего образования, как субъектов и объектов инвестиционной деятельности с учетом дуалистического характера источников и результатов инвестиций. Formed and developed human capital is the basis for the development of socio-economic systems at any level. At the same time, the effectiveness of the activities of subjects of economic relations directly depends on the personnel component of their economic potential, because responsible, qualified and motivated personnel is the basis for the successful implementation of management decisions, the implementation of development strategies, compliance with the economic security of the subject. In turn, if all the problematic issues of personnel motivation to achieve the goals of the organization, as a subject of economic relations, are solved at the micro level, that is, in the internal organizational environment, then the problems of forming the responsibility and qualifications of employees directly depend on the education they have acquired. This actualizes the role and importance of the higher education system, which for more than twenty years has become not a privilege of the most gifted, but a real source of qualified personnel for all spheres, sectors and branches of the national economy, as a system-forming link in the process of forming the human capital of economic entities, primarily industrial and commercial activities. The latter determines the priority of the development of the subjects of providing educational services in the field of higher education, as subjects and objects of investment activity, taking into account the dualistic nature of the sources and results of investment.

Jane Beckett-Camarata

Chang Y. Ha, Hyun Joong Im, Ya Kang et al.

Tobias Haepp, Carl Lin

Douglas J. Cumming, Luca Grilli, Samuele Murtinu

Behrend Freese, Thomas Keil, Thorsten Teicherton

A. C. Williams, J. I. Nassar

Suppose each alternative in a capital investment decision can be represented as a cash flow without uncertainty, i.e., as a sequence of m + 1 real numbers. Then the problem of which financial criterion (e.g., present value, internal rate of return, return per unit expenditure, etc.) to use for the capital investment decision is the problem of defining a preference ordering (which usually means a utility function) on the vector space of dimension m + 1. A Set of axioms is proposed for the preference ordering. The axioms specify the directions of preference in case one cash flow dominates another in magnitude (at least as great in every period, greater in some period) or in time (same total revenue, but received sooner). Also, an axiom of marginal consistency is specified, i.e., one cash flow is preferred to another if and only if the difference (considered as a separate investment) is preferred to the do-nothing investment. In addition, there is an axiom of continuity. Our result is that the only consistent (i.e., consistent with the axioms) method for ranking investments according to their cash flows is to rank them according to the formula for “present value”, with positive (undetermined) rates of interest, possibly different for different time periods. Finally, an axiom specifying “temporal consistency” leads to the use of a single rate of interest. The viewpoint is that an overall corporate capital budgeting problem has two aspects: (1) the determination of a criterion, and (2) the determination of that capital program which maximizes the criterion, subject to the relevant constraints, e.g., on available projects, capital markets, etc. This paper is concerned with the first aspect only.

Jere R. Behrman, Ryan Schneider

The objective of this paper is to place Pakistani human capital investments in the past quarter century in an international perspective. As background, a simple analytical perspective is presented first. Then empirical experience from various developing countries is summarised. This relates to some dimensions of the determinants and the impact of human capital investments and related policies. Next, various dimensions of Pakistani human capital investments in schooling and health are compared with the international experience of the past quarter century, controlling for per capita income and initial literacy rates and subject to caveates about such comparisons. These comparisons suggest that, in the aggregate, Pakistan has had relatively low investments in schooling and relatively high investments in health. Consideration of the composition of these investments suggests that, in a comparative sense, Pakistani investments have been skewed towards higher rather than basic education, towards physician-intensive curative rather than basic preventative health care, towards males relative to females, and towards middleand upper-income groups that tend to benefit more from post-primary schooling and from physician-related health services. The concluding section speculates on the implications of this perspective for Pakistani human capital investment policies.

Katia Rocha, Francisco A. Alcaraz Garcia

David Smith