Conceptualizing and measuring the economic value of human capital of the third kind: Corporate culture

Purpose – The purpose of this paper is to deal with the conceptualization and measurement of the economic value of what we have termed “human capital of the third kind”, i.e. corporate culture. It also seeks to draw upon empirical research from the field of culture management to show how the economic value of human capital of the third kind can be measured.Design/methodology/approach – The paper presents a theoretical framework as well as some empirical research to show how economic value of the third kind can be measured.Findings – This has provided a different conceptualization of human capital relevant to human resources accounting. It has presented a typology of human capital consisting of three types: the economic value of individuals; the economic value of groups or teams; and the economic value of the total human organization. The paper also summarized an empirical investigation relevant to the economic value of human capital of the third kind. The results of this empirical investigation provide su...