KM – a New View ? JC Spender Monieson Fulbright Scholar Burton-Jones & Spender Oxford Handbook of Human Capital OUP 2008/9

fitting K into our theorizing theories of firm / organization KBV ?? intangibles as K-assets creative responses to K-absences Apr KM Brown Bag ?

capital & the firm organizational capital = tangible + intangible capital intangible capital metaphors – human – social economic value as defining human capital – educational inputs, training, self-education – investment costs to be offset – revenue generated (a retrospective metric) – capability (a prospective metric) Solow, Schultz, Becker – gap between growth and tangible investment – macro versus micro views – learning curve, returns to formal education Apr KM Brown Bag3

social capital Putnam, Coleman, Bourdieu – ‘bowling alone’, social transactions costs – who accesses with what results – who owns, protects and excludes learning – socialization – institutionalization – individuation social capital as ‘supersession’ of market forces human capital as what individuals bring to market transactions interplay of human and social capital organizational capital = that which firm owns reciprocal obligations economic value from tangible resources + human/social capital Apr KM Brown Bag4

concept of capital Fisher’s definition – standing apart capital versus land or labor usury laws reattachment ? – mixing, mobilizing, transforming capital as ‘possibility’ or ‘potential revenue’ value contingent transaction as realization of value does realization generate or consume value ? governance – specificity – opportunism Apr KM Brown Bag5

firm / organization nexus - translation of forms of capital through demand into revenue profit and the replacement of capital context of transaction governance KBV – extension to intangible capital capital as separation, market as exchange, firm as integration capital as implied source of economic value ‘not so much the resources (capitals) as the services they produce’ moving / transforming versus creating - individual versus collective KBV – creation of capital, allocation Apr KM Brown Bag6

re-draw for KBV ? Apr KM Brown Bag7 tangible capital and obligations intangible capitals w/o obligations transformation of assets creative responses to K-absences