Earnings of Hotel Managers: Comparing the Human and Social Capital Approach

Abstract

This paper estimates a human capital model for hotel managers and compares the results with the social capital model, based on a questionnaire distributed in Portugal in 2003. The study disentangles the relative contributions of the two competing theories of earnings, the human capital and social capital theories, as applied to hotel managers. The authors conclude that hotel managers' earnings are a function of both theories. Policy implications are derived.