2007
DOI: 10.1177/0149206307312509
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The Value of Human Capital Specificity Versus Transferability

Abstract: Human capital is a key resource for which firms compete intensely. Human capital theory suggests that firms value both transferable and specific human capital. Yet as transferability increases, specificity decreases. This article examines the value firms place on acquiring executives' human capital as a function of its transferability versus specificity. Using longitudinal data from more than 9,000 executives, this article shows that executives moving to more similar firms receive greater increases to pay than… Show more

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Cited by 92 publications
(83 citation statements)
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References 58 publications
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“…In markets and industries that are increasingly relying on knowledge production and integration, the competitive advantage of 'normal' organizations is increasingly derived from its human resources. Such resources can be highly mobile and explicit labor contracts may not suffice to keep them within the boundaries of the organization (Sturman et al, 2008). In other words, in Human Relations 62(7) 1 0 0 6 building organizational continuity, attention may have to shift away from explicit labor contracts, toward being more conscious about building and maintaining relational labor contracts.…”
Section: Discussionmentioning
confidence: 99%
“…In markets and industries that are increasingly relying on knowledge production and integration, the competitive advantage of 'normal' organizations is increasingly derived from its human resources. Such resources can be highly mobile and explicit labor contracts may not suffice to keep them within the boundaries of the organization (Sturman et al, 2008). In other words, in Human Relations 62(7) 1 0 0 6 building organizational continuity, attention may have to shift away from explicit labor contracts, toward being more conscious about building and maintaining relational labor contracts.…”
Section: Discussionmentioning
confidence: 99%
“…Ruzzier et al (2007) put forward that human capital represents an investment in education and skills and it is created when a person's skills and capabilities are improved. In a similar notion but slightly different expression Sturman, Walsh, and Cheramie (2008) refer to human capital as intangible personal resources embedded in individuals [entrepreneurs] and developed through education, training and experience, and it is closely tied to know-how. Both works seem to converge on a concept that associate human capital with the skills developed through education and experience.…”
Section: Human Capitalmentioning
confidence: 99%
“…Specific human capital, on the other hand, is developed through training or experience. Sturman, Walsh, and Cheramie (2008) describe that the two aspects, namely specific and generic, can be viewed on a continuum. At one extreme of the continuum they place highly specific human capital, which they describe as individuals with knowledge and skills unique to a single firm.…”
Section: Human Capitalmentioning
confidence: 99%
“…Although an organization can deploy both physical and intangible assets to gain strategic advantage (Wade & Hulland, 2004), not all resources are equally important to performance. Indeed, the most valuable assets tend to be intangible, such as the tacit knowledge embodied in human resources (Galbreath & Galvin, 2004;Sturman, Walsh, & Cheramie, 2008). This form of knowledge generates management challenges because, unlike codified knowledge, tacit knowledge is not easily transferred or disseminated.…”
Section: Creating Value In Consultancies: Ambiguities and Tensions Ovmentioning
confidence: 99%