MATHEMATICAL MODELING OF THE IMPACT OF HUMAN CAPITAL ON INNOVATION ACTIVITY AND MARKET VALUE OF PUBLIC CORPORATIONS: AN ECONOMETRIC APPROACH

The article examines the impact of human capital, understood as a set of knowledge, skills, competencies and creative abilities of corporate employees, on its innovation activity and market value, which is one of the key problems of the modern corporate economy, since in the context of the transition to knowledge-intensive production, traditional tangible assets cease to be the main source of competitive advantages.. Based on the synthesis of the provisions of the theory of human capital, the theory of innovation and modern econometrics, the author develops a system of econometric models that allow quantifying the contribution of human capital to the innovative results of a corporation (measured by the number of patents, the amount of research and development costs, as well as indicators of patent citation) and its market value (measured by market capitalization and market value ratio to the balance sheet). The key indicators of human capital are considered to be the level of education of employees (the proportion of employees with higher education, the proportion of employees with academic degrees), their professional experience (average length of service in the industry), staff turnover rates, as well as the cost of training and advanced training. For empirical analysis, a panel sample of data on public corporations is used, including financial indicators, patent activity data, and human capital indicators over a period of 10-15 years.

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