@article{Zubović:206925,
      recid = {206925},
      author = {Zubović, Jovan and Jeločnik, Marko and Subić, Jonel},
      title = {CAN HUMAN RESOURCES INDUCE SUSTAINABILITY IN BUSINESS?  MODELING, TESTING AND CORRELATING HR INDEX AND COMPANY’S  BUSINESS RESULTS},
      journal = {Economics of Agriculture},
      address = {2015-06},
      number = {297-2016-3682},
      series = {Economics of Agriculture 2/2015},
      pages = {22},
      year = {2015},
      note = {Original scientific paper},
      abstract = {In this paper the authors analyze the impact of the  composite human resource index
on sustainable growth in a  specific business sector in a transition country.  Sustainability
of country’s economy is growingly relying on  the knowledge economy which has been
implemented in  strategies of sustainable development throughout Europe.  The knowledge
economy is mostly based on human resources  and the way they are organized and managed
in the companies  actively operating in competitive markets. In order to  confirm importance
of the human resources (HR) index,  results were tested by means of modeling, measuring  and
correlating the HR index with business results at micro  level. The tests were conducted on the
data from the survey  in Serbian meat processing industry. The results were then  compared
with the results from the survey conducted in a  financial industry. Moreover, a model was
made that could  be applicable in all countries that do not have available  official statistic
data on the level of investments in  human resources. The focus was on determining  the
correlation direction, and hence creating a research  model applicable in all business sectors.
It has been found  that a significant one-way correlation exists between  business performance
and increased HR index. In that way it  has been confirmed that in Serbian economy that
has  recorded global decrease during transition, certain  business sectors, and especially companies with high levels  of investments in improving its HR index record above  average and sustainable growth.},
      url = {http://ageconsearch.umn.edu/record/206925},
      doi = {https://doi.org/10.22004/ag.econ.206925},
}