<![CDATA[Corporate financial performance is not solely determined by physical assets and financial capital, but is also significantly shaped by the quality of human capital management and reporting. This article presents a systematic literature review of 15 empirical studies published between 2020 – 2025, with the aim of examining the firm characteristics that influence human resource accounting (HRA) disclosure levels, the variation in HRA disclosure practices across industries and countries, and the impact of HRA disclosure on financial performance and firm value. The findings reveal that firm size in the most consistent factor in driving HRA disclosure levels, while profitability, leverage, firm age, and ownership structure exhibit varying degrees of influence depending on industry context and regulatory environment. Furthermore, in terms of disclosure practices, Indonesia leads HRA disclosure, although such practices remain largely voluntary and non-standardized. In terms of impact, HRA adoption contributes positively to profitability and firm asset value, though its relationship with firm value remains complex and is shaped by market perception. This study underscores the necessity of regulatory standardization in HRA to promote consistency in human capital reporting at both the national and international levels.]]>
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