HRM and Value Creation
AbstractItâ€™s conceptually attractive to look for connection between performance, HRM and economic situation. How measure epiphenomenonâ€™s impact when we canâ€™t isolate that from global strategy? If casual relations maybe established, event can be interpreted in several ways (e.g. its chicken and egg situationâ€¦). This paper presents the results of a research on corporate performance measured by the creation of shareholder value. To do that we test empirically forced rankingâ€™s performance versus all other classic human resource managementsâ€™ result first with a statistical comparison of share based on fortune 100 (from 1996 to 2000); second with Standard & Poorâ€™s (S&P) 500 value creation (from 1997 to 2000) with â€œMarakon Associatesâ€ (the growth between Market-to-book values ratio and the ROE spread (ROE â€“ Cost of equity capital)
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Bibliographic InfoPaper provided by Society for Computational Economics in its series Computing in Economics and Finance 2005 with number 264.
Date of creation: 11 Nov 2005
Date of revision:
Forced Ranking; Classic HRM; Value Creation;
Find related papers by JEL classification:
- C0 - Mathematical and Quantitative Methods - - General
- G1 - Financial Economics - - General Financial Markets
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-11-19 (All new papers)
- NEP-CSE-2005-11-19 (Economics of Strategic Management)
- NEP-FIN-2005-11-19 (Finance)
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