||TMT Long-term Compensation, Firm Long-term Orientation, and Human Resource Investment: Moderating Roles of Strategic Orientation and Firm Slack
||Institute of International Management (IIMBA--Master)(on the job class)
Upper Echelon theory
Strategy human resource management
TMT long-term compensation
Firm long-term orientation
Human resource investment
This study integrates the upper echelon theory, the resourced-based view, and the strategic human resource management (SHRM) perspective to examine the associations between TMT long-term compensation, firm long-term orientation, and human resource investment. The moderating roles of firm strategic orientation and firm slack on the relationship between firm long-term orientation, and human resource investment are explored as well. Research results based on a large sample of 226 TMTs collected from Taiwan companies listed in the stock exchange revealed that firm long-term orientation plays a partial mediating role in the relationship between TMT long-term compensation and firm human resource investment. Moreover, instead of acting as a moderator, strategic orientation produces a direct effect on firm human resource investment. This study contributes to the upper echelon theory, the resourced-based view, and the SHRM perspective by an examination of the effects of TMT practices on firm strategic considerations and then human resource practices within the context of firm strategy and resources. Research implications and future directions are discussed.
TABLE OF CONTENTS
TABLE OF CONTENTS IV
LIST OF TABLES VIII
LIST OF FIGURES IX
CHAPTER ONE INTRODUCTION 1
1.1 Research Background. 1
1.2 Research Objective and Contributions. 4
1.3 Research Structure. 6
CHAPTER TWO LITERATURE REVIEW 8
2.1 Theoretical Foundation. 8
2.1.1 The upper-echelons theory. 8
2.1.2 Resource-based view. 12
2.1.3 Strategic Human Resource Management (SHRM) perspective. 14
2.2 Definitions of Relevant Research Variables. 16
2.2.1 TMT Long-term Compensation. 16
2.2.2 Firm Long-term Orientation. 18
2.2.3 Strategic Orientation. 20
2.2.4 Financial Slack. 21
2.2.5 Human Resource Investment. 23
2.3 Developments of Research Hypotheses. 24
2.3.1 The Relationships between TMT Long-term Compensation and Human Resource Investment. 24
2.3.2 The Relationships between TMT Long-term Compensation and Firm Long-term Orientation. 28
2.3.3 The Relationships between Firm Long-term Orientation and Human Resource Investment. 31
2.3.4 Firm Long-term Orientation as a Mediator. 34
2.3.5 Strategic Orientation as a Moderator. 36
2.3.6 Financial Slack as a Moderator. 39
CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY 42
3.1 Conceptual Model. 42
3.2 Description of Sample and Data Collection. 43
3.3 Summary of Hypotheses. 44
3.4 Measures and Definitions of Variables. 45
3.4.1 TMT Long-term Compensation. 46
3.4.2 Firm Long-term Orientation. 46
3.4.3 Strategic Orientation. 47
3.4.4 Financial Slack. 47
3.4.5 Human Resource Investment. 47
3.5 Control Variables. 48
3.5.1 Firm Age. 48
3.5.2 Firm Size. 49
3.5.3 TMT Age and TMT Size. 49
3.5.4 Environmental Dynamism. 49
3.5.5 Environmental Munificence. 50
3.6 Methods of Analysis. 50
3.6.1 Descriptive Statistics. 50
3.6.2 Confirmatory Factor Analysis (CFA). 50
3.6.3 Reliability Test. 51
3.6.4 Pearson Correlation Analysis. 51
3.6.5 Hierarchical Multiple Regression. 51
CHAPTER FOUR RESEARCH RESULTS 52
4.1 Descriptive Statistics Analyses. 52
4.2 Validity and Reliability Tests. 54
4.2.1 TMT Long-term Compensation. 55
4.2.2 Firm Long-term Orientation. 56
4.2.3 Strategy Orientation. 57
4.2.4 Financial Slack. 58
4.2.5 Human Resource Investment. 59
4.3 Assessing Full Measurement Model. 60
4.4 Pearson Correlations. 65
4.5 Hierarchical Multiple Regression. 68
4.5.1 Direct and Mediation Hypotheses. 68
4.5.2 Moderation Hypothesis. 70
CHAPTER FIVE CONCLUSION AND SUGGESTIONS 72
5.1 Discussions and Conclusion. 72
5.1.1 Theoretical Implications. 72
5.1.2 Managerial Implications. 74
5.2 Limitation and Future Directions. 75
5.2.1 Research Limitations. 75
5.2.2 Suggestion for Future Research. 76
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