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Human Resource Management Policies and Productivity: New Evidence from An Econometric Case Study

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  • Derek C. Jones
  • Panu Kalmi
  • Antti Kauhanen

Abstract

First we distinguish various approaches used by economists to assess the impact of human resource management practices on productivity and then we briefly review and illustrate studies that represent different approaches. In the main part of the paper we illustrate the econometric case study method, by using new data to analyse a case from retail trade and by emulating an approach used in an earlier study. Consistent with theory we find that when employees have opportunities to participate, and to receive appropriate information and pertinent rewards, a one standard deviation increase of the first principal component score would increase productivity by 1 per cent. Our findings imply that there are benefits to innovative work practices, even in settings where employees do simple tasks and employees are relatively low-skilled. Since our findings are similar to those contained in a previous study, our results also indicate the value of replication studies. Copyright 2006, Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Review of Economic Policy.

Volume (Year): 22 (2006)
Issue (Month): 4 (Winter)
Pages: 526-538

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Handle: RePEc:oup:oxford:v:22:y:2006:i:4:p:526-538

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Web page: http://oxrep.oupjournals.org/

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Cited by:
  1. Derek C. Jones & Panu Kalmi & Antti Kauhanen, 2012. "The effects of general and firm-specific training on wages and performance: evidence from banking," Oxford Economic Papers, Oxford University Press, vol. 64(1), pages 151-175, January.
  2. Artz, Georgeanne M. & Kim, Younjun, 2011. "Business Ownership by Workers: Are Worker Cooperatives a Viable Option?," Staff General Research Papers 34575, Iowa State University, Department of Economics.
  3. Kauhanen, Antti & Roponen, Satu, 2010. "Productivity dispersion: A case study," Research in Economics, Elsevier, vol. 64(2), pages 97-100, June.
  4. Kato, Takao & Lee, Ju Ho & Ryu, Jang-Soo, 2010. "The Productivity Effects of Profit Sharing, Employee Ownership, Stock Option and Team Incentive Plans: Evidence from Korean Panel Data," IZA Discussion Papers 5111, Institute for the Study of Labor (IZA).
  5. Fernández, Rosa M. & Nordman, Christophe J., 2009. "Are there pecuniary compensations for working conditions?," Labour Economics, Elsevier, vol. 16(2), pages 194-207, April.
  6. Dong, Xiao-Yuan & Jones, Derek C. & Kato, Takao, 2007. "Earnings-Tenure Profiles: Tests of Agency and Human Capital Theories Using Individual Performance Data," IZA Discussion Papers 3122, Institute for the Study of Labor (IZA).
  7. Jones, Derek & Kato, Takao, 2007. "The Impact of Teams on Output, Quality and Downtime: An Empirical Analysis Using Individual Panel Data," Working Papers 104-24, Department of Economics, Colgate University.

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