Conceptualizing Holistic Capital

Capital is classified as tangible and is used in the production process. It is a resource or collection of resources that can be accumulated or depleted, exchanged for other forms of capital, and unequally distributed. This study proposes holistic capital (HolC) as the synergistic value derived from the combined effects of multiple capitals, including human, behavioral, social, and spiritual capitals. Holistic capital is defined as the complex integration of human, behavioral, social, and spiritual resources that collectively enable individuals to function, thrive, and contribute meaningfully to their organizations and societies. It reflects a comprehensive spectrum that provides growth, transience, performance, thriving, and sustainability beyond customary financial or human capital models. Human capital theory, on which this proposed study is based, has a profound impact on multiple disciplines and is of deep interest to academicians and social scientists. Though the theory is a subject of severe criticism, it has easily survived and expanded its influence since its inception. Not surprisingly, a considerable number of criticisms have been made in response to this expansion. Based on this theory and to bridge gaps in the literature and present them systematically, the proposed study adopts a holistic approach. This review article examines theories across four dimensions: theoretical, methodological, empirical, and practical. In this manner, the proposed study intends to conceptualize a new capital—the holistic capital.