Human Capital Management Capability and Firm Profitability:An Empirical Research of Hotel Businesses in Thailand
Keywords:
Human Capital Management Capability, Best Goal Achievement, Firm Profitability, Hotel BusinessesAbstract
The objective of this research was to examine how human capital management capability including team spirit orientation, training intention focus, information-sharing emphasis, equality awareness implementation and talent creativity capability have an effect on firm profitability. The data were collected from 343 four-to-five star hotels businesses in the Thailand by using questionnaires as instrument. The statistics used to analyze the data were multiple correlation analysis and the Ordinary Least Squares (OLS) regression analysis. The results showed that best goal achievement, equality awareness implementation, team spirit orientation, and training intention focus had a significant and positive influence on firm profitability. In addition, team spirit orientation, talent creativity capability, and equality awareness implementation had a positively effect on best goal achievement respectively.
References
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Arnone, M., Small, R., Chauncey, S., & Mckenna, H. H. (2011). Curiosity, interest and engagement in
technology pervasive learning environments: a new research agenda. Educational Technology
Research & Development, 59(2), 181-198.
Bain, J. S. (1956). Barriers to new competition. Harvard University Press, Cambridge, MA.
Baranik, L. E., Barrpm. L. E., & Finney, S. J. (2007). Measuring goal orientation in a work domain: construct validity
evidence for the 2x2 framework. Educational and Psychological Measurement, 67, 697-718.
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New York: National Bureau of Economic Research
Becker, B. E., & Huselid, M. A. (2000). Getting an edge through people. Human Resource Management International
Digest, 8(3), 36-38.
Becker, B. E., Huselid, M. A., & Ulrich, D. (2001). The HR scorecard: linking people strategy and performance.
Boston: Harvard Business School Press.
Bhatti, W.A., Waris, S., Zaheer, A. & Ur-Rehman, K. (2011). The effect of commitment and motivation on human
talent and its contribution to organizational performance. Management and Marketing Challenges for the
Knowledge Society, 6(3), 471-482.
Bishop, J. S., Scott, K. D., Goldsby, M. G., & Cropanzano, R. (2005). A construct validity study of commitment
and perceived support variables: A multifoci approach across different team environments. Group and
Organization Management, 30, 153-180.
Bloom, N., & Van Reenen, J. (2010). Why do management practices differ across firms and countries?.
Journal of Economic Perspective, 24(1), 203-224.
Bontis, N., Dragonetti, N. C., Jacobsen, K., & Roos, G. (1999). The knowledge toolbox: a review of the tools
available to measure and manage intangible resources, European Management Journal, 17(4), 391-402.
Bourgeois, L. J., Ganz, A., Gonce, A., & Nedell, K. (2014). Profitability of industries and firms over time.
Journal of Strategy and Management, 7(3), 210-225.
Brooking, A. (2010). On the importance of managing intangible assets as part of corporate strategy.
Electronic Journal of Knowledge Management, 8(2), 217-224.
Brouer, R. L., Harris, K. J., & Kacmar, M. (2011). The moderating effects of political skills on the perceived
politics-outcome relationship. Journal of Organizational Behaviour, 38, 869-885.
Capon, N., Farley, J. U., & Hoenig, S. (1990). Determinants of financial performance: a meta-analysis.
Management Science, 36(10), 1143-1159.
Carrington, D. (2013). The influence of the process of measuring IC on performance. Proceeding of the 5th
European Conference on Intellectual Capital.
Collis, D.J., & Ghermawat, P. (1994). Mapping the business landscape. The Portable MBA in Strategy, 171-188.
Cuervo-Cazurra, A., & Dau, L. A. (2009). Promarket reforms and firm profitability in developing countries.
Academy of Management Journal, 52, 1348-1368.
Deaden, L., Reed, H., & Van R.J. (2000). Who Gains When Workers Train? Training and Corporate Productivity
in a Panel of British Industries (London: The Institute for Fiscal Studies and University College).
Dedrick, J., Gurbaxani, V., & Kraemer, K. L. (2003). Information technology and economic performance:
A critical review of empirical evidence. ACM Computing Surveys, 35(1), 1-28.
Delaney, J. T., & M. A. Huselid. (1996). The impact of human resource management practices on perceptions
of performance in for-profit and nonprofit organizations. Academy of Management Journal, 39, 949-969.
Dillman, D. (1978). Mail and telephone surveys the total design approach. New York: John Wiley and sons.
Elliot, A. J. (2005). A Conceptual history of the achievement goal construct. In A.J. Elliot & C.S. Dweck (Eds).
Handbook of Competence and Motivation. New York, NY: The Guilford Press. 52-72.
Else-Quest, N. M., Hyde, J. S., & Linn, M. C. (2010). Cross-national patterns of gender differences in mathematics:
a meta-analysis. Psychological Bulletin, 136(1), 103-127.
Emery, R. C., & Fredendall, D. L. 2002). The effect of teams on firm profitability and customer satisfaction.
Journal of Service Research, 4(3), 217-259.
Gold, A. H, Malhotra, A., & Segars, A. (2001). Knowledge management: An organizational capabilities perspective.
Journal of Management Information Systems, 18, 185-214.
Hair, J. F., Black, W. C., Babin, B., Anderson, R., & Taltham, R. L. (2006). Multivariate data analysis (6th ed.).
New Jersey: Pearson Education.
He, Y., Lai, K. K., & Lu, Y. (2011). Linking organizational support to employee commitment: evidence from hotel
industry of China. The International Journal of Human Resource Management, 22, 197-217.
Heidemeier, H., & Bittner, J. V. (2012). Competition and achievement goals in work teams. Human Performance,
25, 138-158.
Jirawuttinunt. S., & Ussahawanitchakit, P. (2011). Strategic human capital orientation and sustainable business
performance: An empirical assessment of hotel businesses in Thailand. International Journal of Strategic
Management, 11, 49-75.
Kauffman, R. J., & Walden, E. A. (2001). Economics and electronic commerce: survey and directions for research.
International Journal of Electronic Commerce, 5(4), 5-116.
Kazlauskait, R., & Bueluniebe, I. (2008). The role of human resources and their management in the establishment
of sustained competitive advantage. Engineering Economics, 5(60), 78-84.
Lee, C. H., & Bruvold, N. T. (2003). Creating value for employees: Investment in employee development.
International Journal of Human Resource Management, 14, 981-1000.
Ling, H. Y., & Jaw, S. B. (2011). Entrepreneurial leadership, human capital management, and global competitiveness
An empirical study of Taiwanese MNCs. Journal of Chinese Human Resource Management, 2(2), 117-135.
Ling, L., Tao, Q., & Peng, S. (2014). Can training promote employee organizational commitment? The effect of
employability and expectation value. Nankai Business Review International, 5(2), 162-186.
Marimuthu, M., Arokiasamy, L., & Ismail, M. (2009). Human capital development and its impact on firm performance:
evidence from developmental economics. The Journal of International Social Research, 2(8), 265-272.
Marron, J. A. (2010). Team boundary spanning: A multilevel review of past research and proposals for the future.
Journal of Management, 36(4), 911-940.
McGaham, A. M., & Porter, M. E. (1997). How much does industry matter, really?. Strategic Management Journal,
18, 15-30.
Mischel, W. (1973). Toward a cognitive social learning reconceptualization of personality. Psychological Review,
80, 252-283.
Mohamed, A. W., Andrew, R. J. D., Stephen, G. I., & Guy, H. (2008). An exploration of the relationship between
training grants and profitability of UK construction Companies. International Journal of Training and Development,
12(3), 188-205.
Moye, N. A., & Langfred, C. W. (2004). Information sharing and group conflict: going beyond decision making to
understand the effects of information sharing on group performance. International Journal of Conflict
Management, 15(4), 381-435.
Nalbantian, R., Guzzo, R. A., Kieffer, D., & Doherty, J. (2004). Play to your strengths: managing your internal labour
markets for lasting competitive advantage. New York: McGraw-Hill.
Neuman, W. L. (2006). Social research methods qualitative and quantitative approaches (6th ed.). USA :
Pearson Education.
Nunnally, J. C. (1970). Introduction to psychological measurement. New York: McGraw-Hill.
O’Neill, J. W., & Mattila, A.S. (2006). Strategic hotel development and positioning the effects of revenue drivers on
profitability. Cornell Hotel and Restaurant Administration Quarterly, 47(2), 146-154.
Ooncharoen, N., & Ussahawanitchakit. P. (2009). New service development (NSD) strategy and its antecedents and
consequences: An empirical examination of hotel business in Thailand. Journal of International Business and
Economics, 9(4), 1-25.
Ormanidhi, O., & Stringa, O. (2008). Porter’s model of generic competitive strategies: an insightful and convenient
approach to firms’ analysis. Business Economic, 43(3), 55-64.
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. Free Press,
New York, NY.
Sahai, S., & Srivastava, A. K. (2012). Goal/target setting and performance assessment as tool for talent management.
Procedia-Social and Behavioral Sciences, 37, 241-246.
Scullion, H., & Collings, D. (2006). International talent management. New York: Routledge, 87-116.
Spanos, Y. E. Zaralis, G., & Lioukas, S. (2004). Strategy and industry effects on profitability: Evidence from Greece.
Strategic Management Journal, 25(1), 139-165.
Stoet, G., & Geary, D. C. (2015). Sex differences in mathematics and reading achievement are invest related:
Within–and across-nation assessment of 10 years of PISA data. PloS ONE, 8(3),
Swaab, R. I., & Galinsky, A. D. (2015). Egalitarianism makes organizations stronger: Cross-national variation in
institutional and psychological equality predicts talent levels and the performance of national teams.
Organizational Behavior and Human Decision Processes, 129, 80-92.
Tapia, B. A., Tascon, M. T., & Fanjul, J. L. (2010). Country creditor rights, information sharing, and commercial
banks’ profitability. Journal of Economics and Finance, 60, 336-354.
Thapayom, A., & Ussahawanichakit, P. (2015). Accounting information system excellence and goal achievement:
evidence from information and communication technology businesses in Thailand. The Business and Management
Review, 7(1), 309-321.
Tseng, C. H. (2015). User preferences toward positive and negative feedback information in online learning:
goal achievement and information value perspectives. International Journal of e-Education, e-Business,
e-Management and e-Learning, 5(4), 191-202.
Yamane, T. (1973). Statistics: An introductory analysis (3rd ed.). New York. Harper and Row Publications.
Ajibade, S. O., & Ayinla, N.,K. (2014). Investigating the effect of training on employees’ commitment:
an empirical study of a discount house in Nigeria. Original Scientific Paper, 11(3), 7-8.
Arnone, M., Small, R., Chauncey, S., & Mckenna, H. H. (2011). Curiosity, interest and engagement in
technology pervasive learning environments: a new research agenda. Educational Technology
Research & Development, 59(2), 181-198.
Bain, J. S. (1956). Barriers to new competition. Harvard University Press, Cambridge, MA.
Baranik, L. E., Barrpm. L. E., & Finney, S. J. (2007). Measuring goal orientation in a work domain: construct validity
evidence for the 2x2 framework. Educational and Psychological Measurement, 67, 697-718.
Becker, G. S. (1964). Human capital: a theoretical and empirical analysis, with special reference to education.
New York: National Bureau of Economic Research
Becker, B. E., & Huselid, M. A. (2000). Getting an edge through people. Human Resource Management International
Digest, 8(3), 36-38.
Becker, B. E., Huselid, M. A., & Ulrich, D. (2001). The HR scorecard: linking people strategy and performance.
Boston: Harvard Business School Press.
Bhatti, W.A., Waris, S., Zaheer, A. & Ur-Rehman, K. (2011). The effect of commitment and motivation on human
talent and its contribution to organizational performance. Management and Marketing Challenges for the
Knowledge Society, 6(3), 471-482.
Bishop, J. S., Scott, K. D., Goldsby, M. G., & Cropanzano, R. (2005). A construct validity study of commitment
and perceived support variables: A multifoci approach across different team environments. Group and
Organization Management, 30, 153-180.
Bloom, N., & Van Reenen, J. (2010). Why do management practices differ across firms and countries?.
Journal of Economic Perspective, 24(1), 203-224.
Bontis, N., Dragonetti, N. C., Jacobsen, K., & Roos, G. (1999). The knowledge toolbox: a review of the tools
available to measure and manage intangible resources, European Management Journal, 17(4), 391-402.
Bourgeois, L. J., Ganz, A., Gonce, A., & Nedell, K. (2014). Profitability of industries and firms over time.
Journal of Strategy and Management, 7(3), 210-225.
Brooking, A. (2010). On the importance of managing intangible assets as part of corporate strategy.
Electronic Journal of Knowledge Management, 8(2), 217-224.
Brouer, R. L., Harris, K. J., & Kacmar, M. (2011). The moderating effects of political skills on the perceived
politics-outcome relationship. Journal of Organizational Behaviour, 38, 869-885.
Capon, N., Farley, J. U., & Hoenig, S. (1990). Determinants of financial performance: a meta-analysis.
Management Science, 36(10), 1143-1159.
Carrington, D. (2013). The influence of the process of measuring IC on performance. Proceeding of the 5th
European Conference on Intellectual Capital.
Collis, D.J., & Ghermawat, P. (1994). Mapping the business landscape. The Portable MBA in Strategy, 171-188.
Cuervo-Cazurra, A., & Dau, L. A. (2009). Promarket reforms and firm profitability in developing countries.
Academy of Management Journal, 52, 1348-1368.
Deaden, L., Reed, H., & Van R.J. (2000). Who Gains When Workers Train? Training and Corporate Productivity
in a Panel of British Industries (London: The Institute for Fiscal Studies and University College).
Dedrick, J., Gurbaxani, V., & Kraemer, K. L. (2003). Information technology and economic performance:
A critical review of empirical evidence. ACM Computing Surveys, 35(1), 1-28.
Delaney, J. T., & M. A. Huselid. (1996). The impact of human resource management practices on perceptions
of performance in for-profit and nonprofit organizations. Academy of Management Journal, 39, 949-969.
Dillman, D. (1978). Mail and telephone surveys the total design approach. New York: John Wiley and sons.
Elliot, A. J. (2005). A Conceptual history of the achievement goal construct. In A.J. Elliot & C.S. Dweck (Eds).
Handbook of Competence and Motivation. New York, NY: The Guilford Press. 52-72.
Else-Quest, N. M., Hyde, J. S., & Linn, M. C. (2010). Cross-national patterns of gender differences in mathematics:
a meta-analysis. Psychological Bulletin, 136(1), 103-127.
Emery, R. C., & Fredendall, D. L. 2002). The effect of teams on firm profitability and customer satisfaction.
Journal of Service Research, 4(3), 217-259.
Gold, A. H, Malhotra, A., & Segars, A. (2001). Knowledge management: An organizational capabilities perspective.
Journal of Management Information Systems, 18, 185-214.
Hair, J. F., Black, W. C., Babin, B., Anderson, R., & Taltham, R. L. (2006). Multivariate data analysis (6th ed.).
New Jersey: Pearson Education.
He, Y., Lai, K. K., & Lu, Y. (2011). Linking organizational support to employee commitment: evidence from hotel
industry of China. The International Journal of Human Resource Management, 22, 197-217.
Heidemeier, H., & Bittner, J. V. (2012). Competition and achievement goals in work teams. Human Performance,
25, 138-158.
Jirawuttinunt. S., & Ussahawanitchakit, P. (2011). Strategic human capital orientation and sustainable business
performance: An empirical assessment of hotel businesses in Thailand. International Journal of Strategic
Management, 11, 49-75.
Kauffman, R. J., & Walden, E. A. (2001). Economics and electronic commerce: survey and directions for research.
International Journal of Electronic Commerce, 5(4), 5-116.
Kazlauskait, R., & Bueluniebe, I. (2008). The role of human resources and their management in the establishment
of sustained competitive advantage. Engineering Economics, 5(60), 78-84.
Lee, C. H., & Bruvold, N. T. (2003). Creating value for employees: Investment in employee development.
International Journal of Human Resource Management, 14, 981-1000.
Ling, H. Y., & Jaw, S. B. (2011). Entrepreneurial leadership, human capital management, and global competitiveness
An empirical study of Taiwanese MNCs. Journal of Chinese Human Resource Management, 2(2), 117-135.
Ling, L., Tao, Q., & Peng, S. (2014). Can training promote employee organizational commitment? The effect of
employability and expectation value. Nankai Business Review International, 5(2), 162-186.
Marimuthu, M., Arokiasamy, L., & Ismail, M. (2009). Human capital development and its impact on firm performance:
evidence from developmental economics. The Journal of International Social Research, 2(8), 265-272.
Marron, J. A. (2010). Team boundary spanning: A multilevel review of past research and proposals for the future.
Journal of Management, 36(4), 911-940.
McGaham, A. M., & Porter, M. E. (1997). How much does industry matter, really?. Strategic Management Journal,
18, 15-30.
Mischel, W. (1973). Toward a cognitive social learning reconceptualization of personality. Psychological Review,
80, 252-283.
Mohamed, A. W., Andrew, R. J. D., Stephen, G. I., & Guy, H. (2008). An exploration of the relationship between
training grants and profitability of UK construction Companies. International Journal of Training and Development,
12(3), 188-205.
Moye, N. A., & Langfred, C. W. (2004). Information sharing and group conflict: going beyond decision making to
understand the effects of information sharing on group performance. International Journal of Conflict
Management, 15(4), 381-435.
Nalbantian, R., Guzzo, R. A., Kieffer, D., & Doherty, J. (2004). Play to your strengths: managing your internal labour
markets for lasting competitive advantage. New York: McGraw-Hill.
Neuman, W. L. (2006). Social research methods qualitative and quantitative approaches (6th ed.). USA :
Pearson Education.
Nunnally, J. C. (1970). Introduction to psychological measurement. New York: McGraw-Hill.
O’Neill, J. W., & Mattila, A.S. (2006). Strategic hotel development and positioning the effects of revenue drivers on
profitability. Cornell Hotel and Restaurant Administration Quarterly, 47(2), 146-154.
Ooncharoen, N., & Ussahawanitchakit. P. (2009). New service development (NSD) strategy and its antecedents and
consequences: An empirical examination of hotel business in Thailand. Journal of International Business and
Economics, 9(4), 1-25.
Ormanidhi, O., & Stringa, O. (2008). Porter’s model of generic competitive strategies: an insightful and convenient
approach to firms’ analysis. Business Economic, 43(3), 55-64.
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. Free Press,
New York, NY.
Sahai, S., & Srivastava, A. K. (2012). Goal/target setting and performance assessment as tool for talent management.
Procedia-Social and Behavioral Sciences, 37, 241-246.
Scullion, H., & Collings, D. (2006). International talent management. New York: Routledge, 87-116.
Spanos, Y. E. Zaralis, G., & Lioukas, S. (2004). Strategy and industry effects on profitability: Evidence from Greece.
Strategic Management Journal, 25(1), 139-165.
Stoet, G., & Geary, D. C. (2015). Sex differences in mathematics and reading achievement are invest related:
Within–and across-nation assessment of 10 years of PISA data. PloS ONE, 8(3),
Swaab, R. I., & Galinsky, A. D. (2015). Egalitarianism makes organizations stronger: Cross-national variation in
institutional and psychological equality predicts talent levels and the performance of national teams.
Organizational Behavior and Human Decision Processes, 129, 80-92.
Tapia, B. A., Tascon, M. T., & Fanjul, J. L. (2010). Country creditor rights, information sharing, and commercial
banks’ profitability. Journal of Economics and Finance, 60, 336-354.
Thapayom, A., & Ussahawanichakit, P. (2015). Accounting information system excellence and goal achievement:
evidence from information and communication technology businesses in Thailand. The Business and Management
Review, 7(1), 309-321.
Tseng, C. H. (2015). User preferences toward positive and negative feedback information in online learning:
goal achievement and information value perspectives. International Journal of e-Education, e-Business,
e-Management and e-Learning, 5(4), 191-202.
Yamane, T. (1973). Statistics: An introductory analysis (3rd ed.). New York. Harper and Row Publications.
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Published
25-10-2018
How to Cite
Kuleelung, T., Pratoom, K., & Jhundra-indra, P. (2018). Human Capital Management Capability and Firm Profitability:An Empirical Research of Hotel Businesses in Thailand. Journal of Accountancy and Management, 10(3), 105–119. Retrieved from https://so02.tci-thaijo.org/index.php/mbs/article/view/222942
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