PurposeThe purpose of this paper is to draw attention to value‐creating processes and their impacts on human capital valuation in high‐contact service industries.Design/methodology/approachThe main argument in this paper is developed from existing theoretical and empirical research in the fields of intellectual capital, organizational behavior, marketing, and economics. This paper is conceptual and the approach adopted is analytical. Extant research and concepts have been used to develop a human capital valuation model in high‐contact service industries and to discuss both research and managerial implications.FindingsProvides conceptual description of a value matrix that can be employed to identify more accurately value drivers of human capital in various industries.Research limitations/implicationsThe article provides a novel conceptualization of value drivers in industry. A limitation of the paper is that it is conceptual.Practical implicationsThis paper provides a useful tool to identify human capital value drivers in various industries. The value matrix can help group industries based on these value characteristics making comparisons across and within industries more readily available.Originality/valueThe article proposes a novel way to analyze value addition and transfer in industries. It moves extant research further by outlining a mechanism to identify relevant drivers of human capital with increased precision.

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The purpose of this article is to improve the understanding of the marketing-finance interface by developing a model to capture the relationship between marketing efforts and the creation of owners' firm-related wealth in tourism and hospitality industries. In addition, this study combines the balance sheet and income statement-driven measures (i.e., profit margin, Tobin's q) and off-income-statement measures (i.e., customer satisfaction score) to assess the effect of marketing efforts on a firm's financial performance. The findings indicate that marketing efforts indeed affect the owner's firm-related wealth as measured by financial performance variables. Overall, this study provides a valuable benchmark for further research in the area of marketing productivity in the tourism and hospitality industries.

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