In recent years, increased the sensitivity of the competition in the market, because nature of competition has changed since investments in tangible resources to invest in intangible resources. The company's success is their ability to adapt to rapid changes in technology and market conditions. Human capital can be strategic assets and create competitive advantage for companies. In this context, the aim of this study was to investigate the effect of human capital on wealth creation for shareholders. Sample of 146 firms during the period 2009 to 2013 is the Stock Exchange. Fuzzy regression was used to test the research hypothesis. Control variables consider for this study, including firm size, return on assets and financial leverage. Current research suggests there is a significant relationship between human capital and wealth creation for shareholders. Higher human capital is associated with higher- yielding assets. However, there is not a significant relationship between firm size and leverage with human capital.

Keywords: wealth creation for shareholders, fuzzy regression, Human Capital

Full-Text [PDF 198 kb]   (4782 Downloads)