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HRM Practices and Knowledge Processes Outcomes: Empirical Evidence from a Quasi-Experiment on UK SMEs in the Tourism Hospitality and Leisure Sector

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Author Info
Andreas Georgiadis
Christos N. Pitelis
Abstract

This paper presents empirical evidence of the relationship between human resources practicesand the effectiveness of a firm to capitalise on investment in knowledge as measured by thereturns to innovation and business development expenditure. The empirical design is basedon exploiting a natural experiment provided by a policy intervention that offers humanresources-related support to small and medium sized enterprises in the UK TourismHospitality and Leisure sector. Our findings suggest that businesses that receive support onthe area of staff training and development, in HR planning and in staff recruitment andretention generate 100%, 86% and 134% more revenue per pound spend on innovation andbusiness development compared to firms that do not receive such services. Thus, in contrastto existing empirical studies in the field, this evidence supports a strong causal link betweenhuman resources and knowledge processes and sheds some light on the "black box" thatdescribes the strategic logic between human resource management and firm performance.

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Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0850.

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Date of creation: Feb 2008
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Handle: RePEc:cep:cepdps:dp0850

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Related research
Keywords: Human resources; innovation and business development expenditure; policy evaluation;

Find related papers by JEL classification:
M12 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Personnel Management; Executive Compensation
M50 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - General

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References listed on IDEAS
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  1. Hall, Alastair, 1987. "The Information Matrix Test for the Linear Model," Review of Economic Studies, Blackwell Publishing, vol. 54(2), pages 257-63, April. [Downloadable!] (restricted)
    Other versions:
  2. Angrist, Joshua D. & Krueger, Alan B., 1999. "Empirical strategies in labor economics," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 23, pages 1277-1366 Elsevier. [Downloadable!] (restricted)
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  3. White, Halbert, 1982. "Maximum Likelihood Estimation of Misspecified Models," Econometrica, Econometric Society, vol. 50(1), pages 1-25, January. [Downloadable!] (restricted)
  4. Colin Wren, 2002. "Evaluating the effect of soft business support upon small firm performance," Oxford Economic Papers, Oxford University Press, vol. 54(2), pages 334-365, April.
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