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dc.contributor.authorBhattacharya, Mousumi
dc.contributor.authorWright, Patrick M.
dc.date.accessioned2020-11-25T14:52:48Z
dc.date.available2020-11-25T14:52:48Z
dc.date.issued2004-04-03
dc.identifier.other169015
dc.identifier.urihttps://hdl.handle.net/1813/77201
dc.description.abstractAn 'options' view of human capital acquisition explains value creation through timedeferred, sequential, path-dependent investment choices and addresses gaps in the resourcebased theory explanation of the relationship between human resources and competitive advantage. Firms will invest in options for human capital, using alternative employment arrangements like temporary/contractual/part-time workers and internships, or by outsourcing the work, when uncertainty associated with human capital is high and investments in human capital are largely irreversible. We discuss various options for skills and employees, two interrelated components of human capital. These are flexibility options, options to wait or defer, options to abandon, learning options, and switching options. The opportunity cost of not having options is quantifiable, which makes the real options approach valuable for strategic HRM decisions.
dc.language.isoen_US
dc.subjecthuman
dc.subjectresource
dc.subjectstudies
dc.subjectILR
dc.subjectmanagement
dc.subjectcapital
dc.subjectfirm
dc.subjectworker
dc.subjectinternship
dc.subjectskill
dc.subjectemployee
dc.subjectoption
dc.subjectcost
dc.subjectHRM
dc.titleOptions for Human Capital Acquisition
dc.typepreprint
dc.description.legacydownloadsOptions_For_Human_Capital_AcquisitionWP04_07.pdf: 2232 downloads, before Oct. 1, 2020.
local.authorAffiliationBhattacharya, Mousumi: Fairfield University
local.authorAffiliationWright, Patrick M.: Cornell University


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