HUMAN CAPITAL, INVESTMENTS AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES (Kapital ludzki a inwestycje i wyniki ekonomiczne malych i srednich firm.)
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The purpose of this article is to provide empirical quantitative evidence concerning the relationship between human capital (embodied in business owner), investments and performance of SMEs. The article provides analysis of the key findings of the survey which was conducted (in 2009) among 1346 small and medium sized enterprises in the private sector in Poland. The findings highlight the important role played by human capital in investment activity. Human capital has also positive effect on performance of SMEs. The results should be of interest to economic policy makers and bankers.
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