Development of Human Capital Quality Based on Quantitative Indicators

6th International Scientific Conference – EMAN 2022 – Economics and Management: How to Cope With Disrupted Times, Ljubljana, Slovenia, March 24, 2022, CONFERENCE PROCEEDINGS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-57-8, ISSN 2683-4510

 Abstract:

Human capital represents the knowledge, skills and characteris­tics of an individual that facilitate the creation of personal, social and eco­nomic well-being. Measuring, analyzing and subsequently developing hu­man capital is a prerequisite for the region’s prosperity. Human capital is a set of human abilities and skills that has a direct impact on the potential of social activity. Measuring and monitoring human capital development is an important part of regional policy. This process is complex because hu­man capital is a qualitative characteristic of man. The links, correlations and causal links between the different sets of human resources data are identi­fied. The assessment of human capital levels must be based on many quan­titative indicators. This paper evaluates the development of human cap­ital in Slovakia using an aggregated, composite indicator. The compos­ite indicator is constructed using selected weighted indicators. By applying more complex multidimensional statistical methods, the assessed indica­tors are aggregated into a composite indicator, and its development is then evaluated.

Keywords:

Indicators of human capital; Composite indicator; Statistical method

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