Revisiting the relationship between firm strategic capabilities and productivity in a multilevel analysis: Do labor market conditions matter?

Fernando Cárdenas Echeverri (), Andres Garcia-Suaza and Juan Esteban Garzon Restrepo ()

No 20641, Documentos de Trabajo from Universidad del Rosario

Abstract: This paper studies the relationship between managerial capital, social capital and firm productivity in Colombia, and explores whether this relationship depends on labor quality and formality. Results confirm a positive and significant effect of firm capabilities (managerial and social capital) on TFP (total factor productivity) and suggest a substitution effect between them. A positive effect of labor quality and formality on firm productivity is documented. Even though results are not conclusive, labor quality appears to increase the effect of managerial capital and reduce that for social capital, while labor formality seems to have no impact on their marginal effect. This is important for policy makers reinforcing the importance of quality education, labor formality and the relevance of programs promoting adoption of managerial practices and development of networks.

Keywords: Productivity; Managerial Capital; Social Capital; Labor formality; Developing countries (search for similar items in EconPapers)
JEL-codes: L10 L25 M21 O40 (search for similar items in EconPapers)
Pages: 42
Date: 2023-02-15
New Economics Papers: this item is included in nep-cfn, nep-eff and nep-lma
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Persistent link: https://EconPapers.repec.org/RePEc:col:000092:020641

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