+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»






International Accounting

Measuring the efficiency of higher school's human capital under the net cash flow method

Vol. 19, Iss. 17, SEPTEMBER 2016

Received: 4 April 2016

Received in revised form: 23 May 2016

Accepted: 15 June 2016

Available online: 19 September 2016

Subject Heading: Managerial accounting

JEL Classification: J33, J45, I22, I25, M12

Pages: 31-45

Kuzubov S.A. National Research University Higher School of Economics, Moscow, Russian Federation

Ivlev A.V. Nosov Magnitogorsk State Technical University, Magnitogorsk, Russian Federation

Danilenko N.I. Russian Presidential Academy of National Economy and Public Administration, Magnitogorsk Branch, Magnitogorsk, Russian Federation

Importance In modern environment, the system of higher education focuses on formation and development of a totally new level, that meets the requirements of customers, employers, the State and the entire society. The criteria-based assessment of trends in these processes includes the aggregating transformation of higher schools and their international and domestic ratings. The principle of self-reliance on in-house resources becomes determinant for both a single higher school and synergistic university associations.
Objectives The paper concentrates on the balance of economic interests of a higher educational institution and its structural divisions and staff incentives to increase performance efficiency.
Methods We employ general-logic methods to consider organization and implementation of staff incentives in remuneration systems of higher schools and tenets of the modern labor economics theory.
Results The paper describes a structural and economic mechanism of incentive fund distribution by profit centers, which is adaptable to requirements and conditions of external and internal environment of a higher school. To measure human capital efficiency we propose a model that bases on the allocation of net cash flows from various activities of university personnel.
Conclusions and Relevance We offer a mechanism of remuneration for major units and categories of university employees and its application in Russia. It distributes incentive payments and rewards to encourage professional, business and innovation activities of individuals and units, and organization as a whole.

Keywords: human capital, remuneration, responsibility center, incentive reward, rating


  1. Hazelkorn E. University Research Management: Developing Research in New Institutions. Paris, OECD, 2005. Available at: Link.
  2. Boulton G., Lucas C. What Are Universities For? Chinese Science Bulletin, 2011, vol. 56, iss. 23, pp. 2506–2517.
  3. Trencher G. et al. Beyond the Third Mission: Exploring the emerging university function of co-creation for sustainability. Science and Public Policy, 2014, vol. 41, iss. 2, pp. 151–179.
  4. Etzkowitz H. et al. The Future of the University and the University of the Future: Evolution of ivory tower to entrepreneurial paradigm. Research Policy, 2000, vol. 29, iss. 2, pp. 313–330.
  5. Stewart T.A. Intellectual Capital: The New Wealth of Organizations. Nicholas Brealey Publishing Ltd, 1998.
  6. Edvinsson L., Malone M.S. Intellectual Capital: Realizing Your Company's True Value by Finding its Hidden Brainpower. New York, HarperBusiness, 1997.
  7. Marr B. Impacting Future Value: How to Manage Your Intellectual Capital. CMA Canada, AICPA, CIMA, 2008.
  8. Abakumova N.N. [The impact of the new system of remuneration on the performance of academic staff]. Upravlenets = Manager, 2011, no. 1-2. pp. 52–60. (In Russ.)
  9. Rochev K.V. [Assessing the labor quality and financial incentives at universities based on systems approach using the information index system]. Voprosy upravleniya = Management Issues, 2014, no. 12, pp. 60–70. (In Russ.)
  10. Skvortsova N.V. [Analytical evaluation of investment appeal of the Chelyabinsk oblast as a factor of economic development of the region]. Strategii ustoichivogo razvitiya natsional'noi i mirovoi ekonomiki [Proc. Sci. Conf. Strategies for Sustainable Development of National and Global Economy]. Ufa, Omega Sains Publ., 2015, pp. 143–151.
  11. Malikov T.S. [On the rating of university professors]. Standarty i monitoring v obrazovanii = Standards and Monitoring in Education, 2007, no. 2, pp. 52–54. (In Russ.)
  12. Ivlev A.V., Ageeva I.A. [Boosting the innovation and business activities of employees and structural subdivisions of the university as a basis of its efficient functioning and development]. Nauchnyi vestnik Volgogradskogo filiala RANKhiGS. Seriya: Ekonomika = Scientific Bulletin of Volgograd Branch of RANEPA. Series: Economics, 2015, vol. 2, pp. 112–120. (In Russ.)
  13. Abilova M.G., Ageeva I.A., Aslanov S.A. et al. Sovremennye aspekty razvitiya ekonomiki: teoriya i praktika: monografiya [Modern aspects of economy development: Theory and practice: a monograph]. St. Petersburg, Info-Da Publ., 2015, 256 p.
  14. Egorshin A.P., Khrisanov Y.N. Sistema oplaty truda personala predpriyatiya: monografiya [The personnel remuneration system: a monograph]. Nizhny Novgorod, NIMB Publ., 2005, 125 p.
  15. Ban'ko N.P. [The analysis of incentive program for professional development of enterprise employees]. Problemy ekonomiki = Problems of Economy, 2009, no. 5, pp. 10–12. (In Russ.)
  16. Egorshin A.P., Gus'kova I.V. Metodologiya upravleniya trudovymi resursami: monografiya [A methodology for human resource management: a monograph]. Nizhny Novgorod, NIMB Publ., 2008, 352 p.
  17. Ivlev A.V. [The stimulating effect of the new remuneration system at the university]. Diskussiya = Discussion, 2011, no. 6, pp. 15–19. (In Russ.)

View all articles of issue


ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 27, Iss. 6
June 2024