2019
DOI: 10.1177/0266242619828264
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Investments in managerial human capital: Explanations from prospect and regulatory focus theories

Abstract: It is recognised that small and medium sized enterprises (SMEs) have relatively low levels of management and employee training. In part, this reflects training being a risky investment, with opportunity costs. This article utilises prospect and regulatory focus theory to provide greater insight into which business owners/managers are more likely to make investments in managerial human capital. The study utilises the Longitudinal Small Business Survey (LSBS) and explores how regulatory focus affects training ch… Show more

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Cited by 16 publications
(16 citation statements)
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References 131 publications
(219 reference statements)
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“…Chinese SMEs contributed over 50% of tax revenues, 60% of GDP, 70% of modern technology and 80% of employment to China's private sector economy in 2018. 3 We argue that SME owners are the key personnel in their businesses; hence, their human capital is an important resource for the firm (Jansen et al, 2013;Zhao and Thompson, 2019); accordingly, we extend theories on human capital in two main ways. First, we demonstrate how an entrepreneur's financial literacy can affect innovation.…”
Section: Introductionmentioning
confidence: 95%
“…Chinese SMEs contributed over 50% of tax revenues, 60% of GDP, 70% of modern technology and 80% of employment to China's private sector economy in 2018. 3 We argue that SME owners are the key personnel in their businesses; hence, their human capital is an important resource for the firm (Jansen et al, 2013;Zhao and Thompson, 2019); accordingly, we extend theories on human capital in two main ways. First, we demonstrate how an entrepreneur's financial literacy can affect innovation.…”
Section: Introductionmentioning
confidence: 95%
“…It can also manifest itself through adopting modern high-performance technologies [84] proving the importance of learning over the study of the market [85] and of the clients' choices on a very dynamic actual market [86]. These all contribute to the valuable effect on the performance of SMEs regarding the ecological dynamism [87], of green products [88] and of the investments regarding the training and specialization of the human resource [89].…”
Section: Preliminary Analysismentioning
confidence: 99%
“…To measure the response intentions (investment and divestment) , we relied on scale items borrowed from a study by Zhao and Thompson (2019) . In measuring divestment, respondents were asked to what extent they plan to implement the following measures as a response to the crisis: reduction of capacity, decrease in the number of employees, and withdrawal of products/services.…”
Section: Methodsmentioning
confidence: 99%