Human Resource Management and Performance in the UK Hotel Industry

This article examines the relationship between human resource management and performance in the UK hotel industry. Using data from over 200 hotels, the results demonstrate, first, that the relationship between HRM and performance is dependent upon the business strategy the hotel is pursuing; second, that hotels pursuing an HRM approach coupled with a quality focus within their business strategy perform best; and, finally, that HRM is more likely to contribute to competitive success where it is introduced as an integrated and coherent package, or bundle of practices.     

The Effect of Management Buyouts on Firm–level Technical Inefficiency: Evidence from a Panel of UK Machinery and Equipment Manufacturers

The longer–term technical efficiency effects of management buyouts (MBOs) are evaluated using a stochastic production frontier approach on a panel of UK manufacturing firms. The results, based on the period 1986–1997, indicate that firms with the MBO governance structure: (1) have higher efficiency in the two years before the transaction but not prior to that; (2) have efficiency 7%, 7.5%, 4%, and 7% higher in each of the first four years post–buyout; (3) do not have superior efficiency beyond the fifth year post–buyout. This is consistent with MBOs creating managerial incentives that improve firm–level performance.     

Strategic redirection in large management buyouts: The evidence from post-buyout restructuring activity

This study examines the nature of post-transaction restructuring activities for 32 large U.S. corporations that underwent management buyouts between 1983–89. This study (i) provides evidence on the extent and type of divestment and acquisition activities under private ownership; (ii) documents the outcomes associated with MBOs and the longevity of the buyout organization; and (iii) investigates the claim that buyouts are primarily mechanisms for breaking up public corporations and selling the pieces to related acquirers. The balance of the evidence indicates that restoring strategic focus is an essential function of the buyout for these large firms. However, the evidence also indicates that the buyout organization does continue to operate significant parts of the prebuyout firm. By far the majority of firms continue to meet their debt obligations satisfactorily during the buyout phase. Finally, the evidence indicates that asset sales to related acquirers derive more from efficiency considerations than market power.     

1999-2002年中国上市公司MBO实证研究--兼论EMBO对国有企业改革的意义

本文以1999—2002年间实施了MBO(管理层收购)的上市公司作为研究对象,在大量数据资料基础上,对这些公司的业务、财务、股本、管理、行为等特征以及收购定价、资金来源等问题进行了多方面的实证检验。通过研究,我们认为,MBO并不是“国退民进”的重要途径,成功实施MBO的企业需要一系列重要的条件;MBO实施过程中出现的争论实质上是公众和政府对国有存量资产改革中“分配的公正性”问题的理解与管理层对该问题的理解存在差异;EMBO(管理层收购和员工持股)可以作为从企业层面解决国有企业产权改革公正性和合法性的一种制度性安排。     

Corporate Governance and Human Resource Management

This paper investigates the effect of different forms of corporate governance on the structure and nature of stakeholder relationships within organizations and the consequent impact on human resource management (HRM) policy and outcomes. The analysis shows that while performance advantages can be derived from commitment‐based HRM systems, a corporate governance regime that privileges remote stakeholders may operate as a constraint on such systems. The empirical analysis is based on the UK Workplace Employee Relations Survey (WERS98).     

Resource orchestration in practice: CEO emphasis on SHRM,commitment‐based HR systems,and firm performance

In order to be effective, managers at all levels of the firm must engage in resource management activities, and these efforts are synchronized and orchestrated by top management. Using a specific type of strategic resource, commitment‐based human resource systems, we examine the effect of CEO resource orchestration in a multi‐industry sample of 190 Korean firms. Our results demonstrate that CEO emphasis on strategic HRM is a significant antecedent to commitment‐based HR systems. Furthermore, our results also suggest that CEO emphasis on strategic HRM has its primary effects on firm performance through commitment‐based HR systems. This finding underscores the importance of middle managers in operationalizing top management's strategic emphasis, lending empirical support to a fundamental tenet of resource orchestration arguments. Copyright © 2013 John Wiley & Sons, Ltd.     

A resource‐based perspective on human capital losses,HRM investments,and organizational performance

Reversing the focus on human capital accumulations in the resource‐based literature, the authors examine the issue of human capital losses and organizational performance. They theorize that human capital losses markedly diminish the inimitability of human capital stores initially, but that the negative effects are attenuated as human capital losses increase. They argue further that these effects are more dramatic when human resource management (HRM) investments are substantial. As predicted, Study 1 shows that the human capital losses (voluntary turnover rates)‐workforce performance relationship takes the form of an attenuated negative relationship when HRM investments are high. Study 2 shows stronger curvilinear effects of voluntary turnover rates on financial performance via workforce productivity under these conditions. Implications for resource‐based theory and strategic HRM are addressed.     

The Diffusion of Calculative and Collaborative HRM Practices in European Firms

The aim of this paper is to trace and explain variations in calculative and collaborative human resource management (HRM) practices between companies and across national borders. Variations and similarities are explained in terms of the convergence and divergence of HRM practices determined by national institutions, and the increasing influence of multinational companies (MNCs). We explore the diffusion of HRM practices in Europe over time, using data sets from two surveys conducted in several European countries in 1995 and 2000. We use institutional explanations for the development of three selected bundles of HRM practices: individual, calculative performance‐oriented practices; collective incentive schemes for the alignment of interests; and collaborative practices that seek to enhance the commitment of employees. We found substantial effects of country‐specific institutions and of the country of origin of MNCs, which clearly support the institutional duality thesis. Foreign‐owned MNCs, especially those that are US‐based, appear to moderate country‐specific institutional effects on the diffusion of the three HRM bundles.     

The Nature and Causes of Effective Human Resource Management

Abstract : Four models of the causes of effective human resource management were tested using a large sample of national health service (NHS) provider trusts and districts. The four models, labelled organizational integration, policy integration, functional integration and process integration, were operationalized and tested in a regression analysis against a range of qualitative and quantitative measures of HRM effectiveness. The results reveal little or no association between the qualitative and quantitative measures of effectiveness and show that the models are better at explaining qualitative effectiveness. The most strongly supported models are organizational integration, reflected particularly in the formalization by senior management of HRM policy, and process integration, reflected in the quality and efficiency of personnel service and support. There is little support for policy integration — the idea of a coherent policy focus — and none at all for functional integration, that is, the view that a personnel department generously staffed by professional specialists will enhance effectiveness. The theoretical and policy implications of these results are discussed.     

Firms and Innovative Conflict Management Systems in Ireland

This article examines the practices adopted by firms in the Republic of Ireland to manage conflict involving groups of employees, focusing in particular on the uptake of ‘alternative dispute resolution practices’. The article reveals that conflict management practices take the form of ‘systems’, and it estimates the incidence of innovative conflict management systems, incorporating alternative dispute resolution (ADR) practices, as involving about 30 per cent of firms. A series of influences are shown to be associated with innovative, ADR‐based conflict management systems, especially commitment‐oriented HRM practices and whether unions are recognized.     

HRM systems and firm performance: The mediation role of strategic orientation

Prior research evidence of a set of internal fit human resource practices supports a positive human resource management (HRM)–performance relationship. Yet we know very little about exactly what drives the HRM–performance (also known as strategic HRM) relationship. In response to the call for suitable theories to explore the “black box” between HRM and firm performance, this study is designed to extend previous work by examining how the relationship between HRM and strategic orientation influences firm performance. Specifically, it examines the relationship between HRM systems, strategic orientation, and performance in a cross-section of 190 firms in Singapore. The research hypotheses were tested using multiple regression and LISREL. As predicted, there was an indirect effect between Inducement and Investment HRM systems and firm performance, such that the relationship was mediated by strategic orientation. In particular, Singaporean firms which implemented product and market differentiation strategies would mediate the HRM systems–performance relationship. Implications for research and managerial practices are provided.     

How Does Employee Involvement Stack Up? The Effects of Human Resource Management Policies on Performance in a Retail Firm

The impact of innovative human resource management (HRM) practices on performance is investigated using panel data for all units of a retail firm. Our rich data include measures of the operating environment, important dimensions of core inputs, and information on HRM environments, and output is measured as value added. We estimate augmented production functions, including both establishment and manager fixed effects. When employees have opportunities to participate, and receive appropriate information and feedback from their supervisors, productivity is enhanced. Thus, even in settings where employees do simple tasks and are relatively low-skilled, participatory work environments can enhance business performance.     

Human Resource Management and Corporate Performance in the UK

The relationship between HRM and performance was explored in 366 UK companies using objective and subjective performance measures and cross‐sectional and longitudinal data. Using objective measures of performance, greater use of HRM is associated with lower labour turnover and higher profit per employee but not higher productivity. After controlling for previous years’ performance, the association ceases to be significant. Using subjective performance estimates, there is a strong association between HRM and both productivity and financial performance. The study therefore confirms the association between HRM and performance but fails to show that HRM causes higher performance.     

What Factors Lead Management to Support or Oppose Employee Participation—With and Without Works Councils? Hypotheses and Evidence from Germany

This paper provides the first econometric analysis to distinguish between works councils in establishments where managers have a positive or negative view toward employee involvement in decision making. We similarly distinguish between establishments where no council is present in which management supports or does not support worker participation. We stress the potential role of works councils and participation in motivating employees. Our theoretical analysis and empirical results from German manufacturing establishment data show that the structure of the workforce, principal‐agent problems between owners and managers, collective bargaining, direct employee involvement, human resource management practices, and market strategy and innovativeness all play important roles. Some conflicting conclusions in the works council literature may be due to the failure to distinguish among industrial relations participation regimes characterized by cooperative or uncooperative relationships between works councils and management.     

Spinoffs versus buyouts: Profitability of alternate routes for commercializing innovations

This research compares the performance of spinoffs and buyouts divested to commercialize innovations. The authors study 145 spinoffs and 121 buyouts that occurred in the United States between 1996 and 2005. Analysis provides three critical findings. First, spinoffs have higher profits in the two years after divestiture; afterwards, buyouts have higher profits. Second, strategic emphasis (investment in R&D versus marketing) is the mechanism that explains the diverging profitability of spinoffs and buyouts over time. Third, this occurs through two routes: a one‐step mediated effect via strategic emphasis; a two‐step mediated effect via strategic emphasis and radicalness. Copyright © 2013 John Wiley & Sons, Ltd.     

从"中关村"论我国管理层收购"做亏模式"的控制

“中关村”管理层收购表面上看是因为“亏损’’企业的大股东急于脱手．经营者进行“蛇吞象”式的收购。实际上是一种效仿者众的管理层收购“做亏模式”，为了达到“将企业做亏后再买之”的目的，经营者通常处心积虑，从一开始就采取措施倒逼大股东就范：其危害十分巨大，不仅保护中小投资者将落空，上市公司扭亏增盈无望，而且国有资产保值增值也会成泡影。因此，必须采取措施针对“做亏模式”不同阶段特点予以控制。     

Development of human resource management in Vietnam: A semantic analysis

The present study offers a logical understanding of the development of human resource management (HRM) in Vietnam over the past 30 years. While previous studies have examined the adoption of HR practices, there remains a need to understand the current state of HRM development in Vietnam. Using a semantic analysis approach, we systematically analyzed the themes and concepts from 100 journal articles related to HRM in Vietnam, selected from academic databases between 1984 and 2013. The main study findings show that the development of HRM is associated with the key stages of economic development in Vietnam.     

Effects of downsizing practices on the performance of hospitals

Research has found that downsizing is not generally followed by improved organizational performance. Using a sample of hospitals that recently downsized, we evaluate the effects on performance of the human resource management (HRM) practices used in layoffs. Strategic HRM theory suggests that practices can have an impact on performance outcomes. We find that showing consideration for employees' morale and welfare during downsizing is positively related both to perceived success of downsizing and to financial performance following layoffs. Advance notice of layoffs is positively related to subsequent financial performance, but the provision of extended insurance to laid‐off employees is negatively related to financial performance. Planned redesign of work structures is positively related to perceived success, but has neutral to negative effects on financial performance. Copyright © 2004 John Wiley & Sons, Ltd.     

How Ideation Portfolio Management Influences Front‐End Success

The front end of innovation is recognized as an important driver for successful new products and business prosperity. On the one hand, companies must generate a sufficient number and variety of high‐quality ideas to obtain a well‐balanced portfolio of potentially successful innovation projects. On the other hand, companies must strictly select and prioritize promising ideas and concepts because resource constraints do not allow for the pursuit of every idea. Therefore, companies must practice ideation portfolio management to simultaneously support the variety and selection of ideas and concepts before they enter the innovation project portfolio. To date, there is no research on how ideation portfolio management affects the performance of the front end and of the eventual project portfolio. The current study addresses this research gap in an empirical cross‐industry investigation of 175 medium‐sized and large firms in Germany using a double‐informant design. Ideation portfolio management is conceptualized with three elements: ideation strategy, process formalization, and creative encouragement. We find that all three elements independently and significantly contribute to front‐end success. The results also show that front‐end success mediates the relationship between the elements of ideation portfolio management and project portfolio success. More importantly, we find significant interaction effects between creative encouragement and process formalization and between creative encouragement and ideation strategy. The findings suggest that these elements of ideation portfolio management are complementary and should be balanced to maximize the performance of the front end and the eventual innovation project portfolio.     

Financialization,Globalization and the Management of Skilled Employees: Towards a Market‐Based HRM Model in Large Corporations in France

The article analyses the transformation of HRM policies for skilled employees in large corporations in France over the last decade in relation to changes occurring in governance patterns and competitive strategies. First, we highlight a shift towards globalization and financialization in the strategic management of large corporations in France, entailed by the diffusion of a shareholder form of capitalism in that country. Second, we characterize the market‐based HRM model applied to skilled employees under these new strategic orientations and the diversity of ways in which these transformations are perceived depending on employees' age and level of responsibility within the firm.