Institutional Determinants of Forming the Management Capital: A Case of Ukrainian Healthcare Sector

Abstract

Medical establishment is a complex socio-economic system, whose sustainable development should be ensured by the modern management practices. Problems of management of medical establishment have not been still considered in the context of the current reformation of healthcare sector and still this social and economic field does not report to the conditions of market mechanism. The main goal of this paper is to analyze a structure of total capital of modern medical establishment and the place and role of managerial capital in this structure. Methodology. This study combines economic analysis of concepts of total capital, physical capital, financial capital, intellectual capital and managerial capital. In this study complex of the general scientific and special research methods were used to achieve the goal of the study. The method of logical analysis of the literature was used. The structural analysis was used with purpose to generate the structure of total capital and its key elements of medical establishment. Method of summarization was used to make a conclusion. Scientific works of national and foreign leading scientists in this sphere were used as the informational basis for the conducted research. Findings. In the paper the issue of managerial capital of a medical establishment as a complex socio-economic system is researched. A structure of total capital of medical establishment with its main components, such as physical, financial and intellectual capital, is proposed. In their turn, the theoretical concept of intellectual capital considers the following its elements: human capital, organizational capital and consumer’s capital. Managerial capital is viewed as a meta-capital within the frameworks of proposed structure and is an effective management tool for medical establishments’ business processes and qualitative composition of all types of capital, which pursues the sustainable development of medical establishment. Main tasks of formation, development and reproduction of managerial capital of medical establishment are researched. Also the issues of institutional environment of forming management capital are researched. Key institutional determinants, such innovation, investment and structural mobility are considered. Practical implications. In the conditions of creating by Ukraine the new national healthcare system the issue of formation and development of managerial capital in healthcare sphere is of great importance. It should be considered in the current process of Ukrainian healthcare system’s reformation to avoid the mistakes.