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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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  • Andreas Georgiadis
  • Christos N. Pitelis
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    Abstract

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

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    File URL: http://eprints.lse.ac.uk/19636/
    File Function: Open access version.
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    Bibliographic Info

    Paper provided by London School of Economics and Political Science, LSE Library in its series LSE Research Online Documents on Economics with number 19636.

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    Length: 24 pages
    Date of creation: Feb 2008
    Date of revision:
    Handle: RePEc:ehl:lserod:19636

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    Related research

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

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    1. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
    2. John MacDuffie, 1995. "Human resource bundles and manufacturing performance: Organizational logic and flexible production systems in the world auto industry," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 48(2), pages 197-221, January.
    3. 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.
    4. Hall, Alastair, 1987. "The Information Matrix Test for the Linear Model," Review of Economic Studies, Wiley Blackwell, vol. 54(2), pages 257-63, April.
    5. White, Halbert, 1982. "Maximum Likelihood Estimation of Misspecified Models," Econometrica, Econometric Society, vol. 50(1), pages 1-25, January.
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