Evaluation of human capital using the example of the chemical and petrochemical industry of the republic of Kazakhstan using the Cobb-Douglas production function
Journal Title: Journal of Economic Research & Business Administration - Year 2023, Vol 145, Issue 3
Abstract
The issues discussed in this article are related to the development of a methodology for assessing the effectiveness of human capital at enterprises in the chemical (petrochemical) industry. The formation of the industry in the future also depends on the qualitative formation of human capital. The purpose of this study is to analyze and assess the effectiveness of human capital in the chemical and petrochemical industries of the Republic of Kazakhstan. There are various approaches to assessing the quality of human capital. The authors of the article assessed the effectiveness of the use of human capital on the example of the chemical and petrochemical industries of Kazakhstan using the CobbDouglas production function. In the framework of the study, the authors answer the question of the possibility of building an adequate Cobb-Douglas production function with dynamic parameters using the example of the chemical and petrochemical industries of the Republic of Kazakhstan for 2000–2020. The main characteristics of the production function were calculated, a comparative analysis of the industries was made. During the analysis, problems were identified in several areas of the chemical and petrochemical industries a decrease in labor productivity, a decrease in stock availability, and a return on investments, which has become especially noticeable since 2019. The value of the study is that the possibility of estimating human capital using the Cobb-Douglas function is shown. This methodic can be used not only for the chemical and petrochemical industries, but also for any other industry.
Authors and Affiliations
M. Spanov*, Zh. Yeszhanova, A. Ussenova
Keywords
Related Articles
- EP ID EP721933
- DOI 10.26577/be.2023.v145.i3.010
- Views 35
- Downloads 0
DOES THE NEW MANAGEMENT INFORMATION SYSTEM IMPROVE OPERATIONAL EFFICIENCY IN THE BANKING INDUSTRY OF KAZAKHSTAN?
The purpose of this study is twofold. First, it is undertaken to assess the current management information systems (MIS) used by the banking sector of Kazakhstan. In addition to that, it is done to come up with a rec...
OWNERSHIP STRUCTURE, DIVIDEND POLICY AND SHAREHOLDERS WEALTH AMONG LISTED NON-FINANCIAL FIRMS IN NIGERIA
In the field of corporate finance, there is still disagreement over whether ownership structure and dividend policy have an impact on shareholders’ wealth. Thus, between 2012 and 2021, this study aims to e...
EDUCATIONAL MOBILITY AS AN INSTRUMENT OF ECONOMIC REGULATION OF INTERNAL MIGRATION IN THE REPUBLIC OF KAZAKHSTAN
This article considers the role of educational mobility in the regulation of internal migration in Kazakhstan. In the face of significant socio-economic changes, understanding the link between education and migration bec...
THE CAUSAL RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENTS, TRADE OPENNESS AND ECONOMIC GROWTH IN TURKEY
Turkey adopted a policy of openness with the decisions of January 24, 1980. The openness policy implemented by Turkey has significantly increased the ability of the Turkish economy to attract foreign capital, with the ef...
Evaluation of economic prospects for the implementation of technology of electric centralization
The role of equipping each railway station with modern automatic and telemechanical devices is invaluable. However, there is an opinion that equipping the station with electric centralization requires huge investments an...