Exploring the relationship between HRM and firm performance: A meta-analysis of longitudinal studies |
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| Affiliation: | 1. Small Business Research Centre, Kingston University, Kingston Hill KT2 7LB, UK;2. Edinburgh Napier University, 219 Colinton Road, Edinburgh EH14 1DJ, UK;3. Alliance Manchester Business School, University of Manchester, Booth Street West, Manchester M15 6PB, UK;1. Department of Management, Mays Business School, Texas A&M University, College Station, TX, 77843-4113, United States;2. Department of Human Resource Management, Fox School of Business, Temple University, 1801 Liacouras Walk, Philadelphia, PA 19122-6083, United States;3. Mays Business School, Texas A&M University, 401R Wehner Building, MS 4221, College Station, TX 77843-4221, United States;4. Department of Management, Northern Illinois University, 245R Barsema Hall, DeKalb, IL 60115, United States;1. Department of Psychology, College of Behavioral, Social and Health Sciences, Clemson University, 418 Brackett Hall, Clemson, SC 29634-1355, United States;2. Department of Psychology, Occidental College, Swan Hall, 1600 Campus Road, Los Angeles, CA 90041, United States;1. Florida Atlantic University, Boca Raton, FL, United States;2. Saint Louis University, Saint Louis, MO, United States;1. Department of Economics and Business, Hope College, 41 Graves Place, Holland, MI 49422, United States;2. Department of Psychology, Ohio University, Porter Hall, Room 200, Athens, OH 45701, United States;1. Department of Counseling, Educational Psychology and Research, Ball Hall 307C, The University of Memphis, Memphis, TN 38152, United States;2. Department of Psychology, University of Nebraska at Omaha, 6001 Dodge Street, Omaha, NE, United States;3. Department of Psychology, Illinois Institute of Technology, 3105 S. Dearborn St., Life Sciences #252, Chicago, IL 60616, United States |
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| Abstract: | ![]()
Existing literature on human resource management (HRM) practices and firm performance suggests that there is a positive association between the two variables. Most of the studies, however, are based on cross-sectional datasets and only few of them use panel or longitudinal datasets, which better allow the researchers to deal with problems of endogeneity. This paper draws on meta-analysis techniques to estimate the effect size of the relationship between high performance work practices (HPWPs) and firm performance measures based on the available longitudinal studies. We also examine whether the effect is greater for a combination of HPWPs than for individual HPWPs, and for operational performance than for financial performance. The results from statistical aggregation of eight longitudinal HRM-performance studies demonstrate an overall reported correlation of 0.287. Additionally we find that a set of integrated, mutually reinforcing HPWPs has a stronger impact on firm performance than do HRM practices individually and that, this effect is statistically invariant between operational performance and financial performance. |
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