This study examines the pricing of knowledge‐based firms compared with firms that are less dependent on human resources. The results show that an increasing dependence on human…
Abstract
This study examines the pricing of knowledge‐based firms compared with firms that are less dependent on human resources. The results show that an increasing dependence on human resources is followed by a rise in abnormal return. The results indicate that investors are not able to distinguish personnel investments from expenses, leading to an underestimation of earnings and return. The findings suggest that investors may need accounting information on human resources to help improve investment decisions. There is no evidence in the present material to suggest that investors perceive knowledge‐based firms as more risky compared with firms with more accountable (tangible) assets.
The purpose of this study is to use an international dataset to examine what determines employee training from an organisational perspective, and to what extent training…
Abstract
Purpose
The purpose of this study is to use an international dataset to examine what determines employee training from an organisational perspective, and to what extent training investments enhance company performance.
Design/methodology/approach
Data from 5,824 private‐sector organisations are used to examine determinants of training and the connection between training and profitability. OLS regressions and Probit estimates are used in the statistical analyses.
Findings
The results indicate that the provision of company training is largely determined by firm‐specific factors, such as human resource management (HRM) practices. The results further show that two widely used measures of training – incidence and intensity – are largely determined by different factors. Staff turnover (mobility) does not appear to be a decisive factor in explaining the provision of training on a national or company level, although it is associated with lower profitability to some extent. However, the single most important factor associated with profitability is how much is invested in training (intensity), suggesting that the economic benefits of training outweigh the cost of staff turnover.
Originality/value
This study contributes to the existing training literature by offering extensive access to internal measures of training, profitability, HRM practices, workforce characteristics and staff turnover for companies in 26 countries worldwide.
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ERIC G. FLAMHOLTZ and ERICA D. MAIN
We have witnessed a significant transformation in the world economy and the organisations that comprise it. The economy of old was manufacturing‐based and relied heavily on…
Abstract
We have witnessed a significant transformation in the world economy and the organisations that comprise it. The economy of old was manufacturing‐based and relied heavily on tangible assets as determinants of value. In contrast, the present‐day economy is based on knowledge and information, intangible assets that are embodied in people. This shift has triggered the development of tools with which to measure these intangible assets. One accounting tool that is directly relevant to the measurement and, in turn, the management of human capital is human resource accounting. The purpose of this article is to discuss some current issues, recent advancements, and possible future directions for further development.
This study examines the accuracy of individual perceptions (self‐estimates) of acquired competence. A concept of relative competence is introduced to account for variation in…
Abstract
This study examines the accuracy of individual perceptions (self‐estimates) of acquired competence. A concept of relative competence is introduced to account for variation in rater elevation and differences in importance (significance) of specific competencies. The results indicate that the self‐estimates of job‐specific competencies are well executed. Because the distortion in elevation and stereotype accuracy is largely associated with general constructs, the findings suggest that we should focus on modeling competencies to the job. The results also show that even without a correction for interrater differences or a correction for the importance of different competencies, the competency model carries value‐relevant information.
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Eric G. Flamholtz, Maria L. Bullen and Wei Hua
The purpose of this paper is to provide an overview and history of human resource accounting (HRA) with the objective of promoting both continued academic research and…
Abstract
The purpose of this paper is to provide an overview and history of human resource accounting (HRA) with the objective of promoting both continued academic research and organizational applications. The history of HRA illustrates how academic research can generate improvement in management systems. The paper defines HRA and suggests implications of measuring human capital for financial reporting and managerial uses. Recent Swedish‐based HRA applications with respect to measuring human assets and intellectual capital, including the Skandia Navigator, illustrate how intellectual history and developments in business schools can influence business history.
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David E. Bowen, Raymond P. Fisk, John E.G. Bateson, Leonard L. Berry, Mary Jo Bitner, Stephen W. Brown, Richard B. Chase, Bo Edvardsson, Christian Grönroos, A. Parasuraman, Benjamin Schneider and Valarie A. Zeithaml
A small group of pioneering founders led the creation and early evolution of the service research field. Decades later, this article shares timeless service wisdom from ten of…
Abstract
Purpose
A small group of pioneering founders led the creation and early evolution of the service research field. Decades later, this article shares timeless service wisdom from ten of those pioneering founders.
Design/methodology/approach
Bowen and Fisk specified three criteria by which to identify a pioneering founder. In total, 11 founders met the criteria (Bateson, Berry, Bitner, Brown, Chase, Edvardsson, Grönroos, Gummesson, Parasuraman, Schneider and Zeithaml) and were invited to join Bowen and Fisk – founders that also met the criteria as coauthors. Ten founders then answered a set of questions regarding their careers as service scholars and the state of the field.
Findings
Insightful reflections were provided by each of the ten pioneering founders. In addition, based on their synthesis of the reflections, Bowen and Fisk developed nine wisdom themes for service researchers to consider and to possibly act upon.
Originality/value
The service research field is in its fifth decade. This article offers a unique way to learn directly from the pioneering founders about the still-relevant history of the field, the founders' lives and contributions as service scholars and the founders' hopes and concerns for the service research field.
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To introduce the special issue focusing on the QUIS 9 symposium.
Abstract
Purpose
To introduce the special issue focusing on the QUIS 9 symposium.
Design/methodology/approach
A brief perspective of the best papers presented at the Quality in Services (QUIS9) symposium held at Karlstad university, Sweden in June 2004.
Findings
Outlines some of the highlights surrounding the conference.
Originality/value
Provides a brief report of the context of the conference.
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HanNa Lim, Jae Min Lee and Lu Fan
This study examines the relationship between changes in retirement status and social support and their associations with the life satisfaction of older adults, with a focus on…
Abstract
Purpose
This study examines the relationship between changes in retirement status and social support and their associations with the life satisfaction of older adults, with a focus on potential differences across income levels.
Design/methodology/approach
We analyzed various work-retirement pathways using retirement status data from two waves (2016 and 2018) of the biennial Health and Retirement Study. We examined the relationship between these pathways and life satisfaction, incorporating social support from close relationships, including those with a spouse or partner, children, immediate family members and friends. A subgroup analysis was performed based on household income levels.
Findings
The study found that completely or partially retired individuals reported higher life satisfaction than those who continued working. Those who had returned to work also experienced higher life satisfaction, particularly among the low-income group. Among the middle-income group, individuals transitioning toward retirement reported greater life satisfaction than those still working. Across all subgroups, closeness with a spouse or partner and having close friends were positively related to life satisfaction. However, a lack of close relationships with immediate family members was linked to lower life satisfaction in the low- and middle-income groups, though this was not found in the high-income group.
Originality/value
These findings have theoretical, policy, and practical implications for older populations, mainly retirees or those nearing retirement. The study suggests strategies to assist older adults in navigating diverse retirement pathways, such as fostering strong social connections and offering flexible or phased retirement programs to ease the transition.
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Bo Bergman, Bengt Klefsjö and Lars Sörqvist
The aim of this paper is to investigate the development of the quality movement in Sweden since the mid-20th century. The authors are convinced that a summary of the Swedish…
Abstract
Purpose
The aim of this paper is to investigate the development of the quality movement in Sweden since the mid-20th century. The authors are convinced that a summary of the Swedish quality journey so far will offer important lessons for further quality improvements in Sweden and elsewhere.
Design/methodology/approach
The authors study how the quality movement has been included in the industrial agenda and how it has been adopted in student curricula and in research. The authors have a focus on how business leaders have learnt, adopted, adapted and innovated with respect to quality development. often in collaboration with academia.
Findings
Although the quality movement has fit well with the Swedish culture and that successful corporate leaders have successfully used the specific cultural characteristics there is still a lot to be learnt with respect to the public sector, where the ideas from the quality movement have problem to overcome institutional barriers.
Research limitations/implications
The study is limited to the Swedish context.
Practical implications
There is a serious need to revitalize the public sector by getting leaders and politicians to understand the need for systematic quality improvement.
Social implications
If future Swedish achievements with respect to healthcare and other social welfare elements are to once again become world-class, the public sector needs to be open-minded and collaborate with the industrial sector and academia to find cost-effective strategies for making quality improvements. However, the private sector must also be alert not to be overtaken by some highly active Asian countries.
Originality/value
Swedish large companies have been very successful in applying quality leadership – however, in the public sector, this has not been the case. Suggestions for improvement are made.
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Jörg Pareigis, Bo Edvardsson and Bo Enquist
The aim of this paper is to identify and describe important dimensions of the service process as defined by customers, and to compare the results from a specific use context with…
Abstract
Purpose
The aim of this paper is to identify and describe important dimensions of the service process as defined by customers, and to compare the results from a specific use context with the recent conceptualization of the experience room.
Design/methodology/approach
Public transport travellers were provided with a public transport travel diary and were encouraged to make detailed notes about their service experience during their journey. The diaries were than transcribed and coded in NVivo8 using a constant comparative method.
Findings
The qualitative analysis of the public transport travel diaries revealed six emerging themes of service experience: customer processes, other customers, physical environment, contact personnel, provider processes and wider environment. The interplay between these themes is what forms the service experience of customers. The inductive analysis of the empirical material contextualizes the experience room model in a utilitarian and facility‐driven service. This deductive analysis of 100 customer experiences shows that the dimensions customer involvement, customer placement and physical artefacts are most important for the customer's service experience in this context.
Originality/value
This paper offers a set of important empirically based customer experience dimensions with public transport. The paper also provides a contextualization of a theoretical model, the experience room model. The contribution results show the importance of interactions with other customers and the physical environment for the customer's experience.