Human Capital Corporate Panel Research Articles

Learning by exporting: the moderating role of employee human capital

PurposeThe purpose of this study is to explore the means by which exporters foster innovation via the learning-by-exporting effect and to appraise the moderating role of employee human capital in the export–innovation relationship.Design/methodology/approachLeveraging the linked-survey-secondary data from the Human Capital Corporate Panel (HCCP) spanning 2011–2017, with 890 observations from 228 Korean exporters, this study utilizes Generalized Least Squares (GLS) regression to empirically test the proposed hypotheses.FindingsThe results indicate that exporting significantly boosts a firm’s innovation performance by encouraging the generation of new concepts in products, services, technologies and/or production lines. Moreover, the presence of international talent and highly educated staff positively moderates the relationship between export intensity and innovation performance.Originality/valueBy integrating organizational learning and human capital theories, this study yields theoretical and managerial insights by elucidating the roles of exporting and human capital in advancing innovation performance, thereby guiding corporate export strategies and human resource policies.

Machine Learning-Based Causality Analysis of Human Resource Practices on Firm Performance

An organization’s human resource management practices are essential for its competitive advantage. This study specifically examined human resource (HR) practices that predict corporate performance (employee turnover and firm sales) based on a backpropagation neural network (BPN)-based causality analysis. This study aims to test how to optimize human resource practices to improve organizational performance. This study elucidated the effect of HR practices and organizational-level factors on predicting employee turnover and firm sales. The BPN-based causality analysis revealed the relative importance of explanatory variables on firm performance. To test the model, it employed the Human Capital Corporate Panel open data on Korean companies’ HR practices and other characteristics. The analysis identifies causal relationships between specific HR practices and firm performance. The results show that compensation-related HR practices are most influential in predicting firm sales and employee turnover. Moreover, training-related HR practices were modest, and talent acquisition and performance management practices had relatively weak effects on the two outcomes. The study provides insights into how human resource practices can be optimized to improve firm performance and enhance organizational effectiveness. The findings of this study contribute to the growing body of research on the use of machine learning in HR management and suggest practical implications for managers’ insights to optimize HR practices.

제조업 MZ세대 조직몰입 변인 간 구조 관계

Objectives The purpose of this study is to analyze the structural relationship between variables related to organizational commitment of the manufacturing MZ generation and to analyze multiple group analysis of informal learning.
 Methods For this study, exploratory factor analysis, reliability analysis, demographic analysis, and correlation were conducted using the SPSS 26.0 statistical analysis program using the Human Capital Corporate Panel (HCCP) HCCPⅡ 3rd (2022) manufacturing worker data. Structural equation model analysis and multple group analysis were conducted using the AMOS 26.0 program.
 Results First, group culture was found to have a statistically significant positive (+) influence on organizational commitment, but task culture was not significant, and organizational trust was found to have a statistically significant positive (+) influence. Second, group culture and task culture each had a significant positive influence on organizational trust, and a partial mediating effect of organizational trust between group culture and organizational commitment, and a full mediating effect between task culture and organizational commitment were found. third, As a result of multiple group analysis based on whether or not to participate in informal learning, the difference between the two groups, ‘participation’ and ‘non-participation’, was confirmed to have a moderating effect between task culture and organizational commitment, and between task culture and organizational trust.
 Conclusions Through the results of this study, measures to strengthen the collective culture of the manufacturing industry, organizational trust, organizational commitment, and informal learning of the MZ generation were proposed.

기업의 교육훈련 투자와 신입근로자의 조기퇴사율 간의 관계

Objectives This study aimed to analyze the relationship between variables at the corporate and employee levels by utilizing data from the Human Capital Corporate Panel Survey II (HCCP II) conducted by the Korean Research Institute for Vocational Education and Training in 2021. In order to do so, the study set the corporate training and development investment has an impact on early resignation rate of new employees, and to confirm whether job skill enhancement and job satisfaction have a partial mediating effect in the process.
 Methods To do this, an analysis was conducted on data obtained from a survey conducted on 854 participants who responded to the 2021 2nd headquarters and employee survey of the Human Capital Corporate Panel (HCCP II) by the Korea Research Institute for Vocational Education and Training. To examine the relationships and distributions among various variables, basic statistical analysis and correlation analysis were conducted using STATA 17 version. Additionally, validity checks were performed during the aggregation process at the organizational level, utilizing Intra-Class Correlation (ICC) and rwg indices. For validation purposes, partial mediation model analysis and significance testing were carried out using the bootstrap analysis method. Corporate training and development investment was assumed as an independent variable, early resignation rate of new employ-ees was assumed as a dependent variable, job skill enhancement and job satisfaction as mediating variables.
 Results According to the analysis, corporate training and development investment had a negative effect on early resignation rate of new employees. Second, the corporate training and development investment was found to have a positive impact on reducing the early resignation rate of new employees through the job skill enhancement. Third, the corporate training and development investment was confirmed to have a positive impact on reducing the early resignation rate of new employees through increased job satisfaction. The results of this study indicate the need for corporate training and development investment to reduce the early resignation rate of new employees. Furthermore, it was observed that as job skill enhancement and job satisfaction of new em-ployees increase through training and development, the early resignation rate decreases.
 Conclusions The results indicating that the corporate training and development investment has a positive impact on reducing the early resignation rate of new employees are significant in confirming the effectiveness and necessity of training and development. New employees can enhance their proficiency in job-related skills through education and training. This improve-ment has a positive impact on the job satisfaction of new employees. Moreover, perceiving the organization's investment in edu-cation and training as an investment in and interest in oneself, new employees may develop an increased desire to stay with the organization. To enhance job skill and job satisfaction among new employees and reduce early resignation rate, companies should consider investing in corporate training and development. Furthermore, the significance lies in verifying and confirming the partial mediating effect of job skill enhancement and job satisfaction between the corporate training and development in-vestment and the reduction of the early resignation rate of new employees. This contribution reveals the detailed process through which the effects of corporate training and development investment in reducing the early resignation rate, particularly by examining whether job skill enhancement and job satisfaction mediate this effect. Moreover, the study contributes academ-ically and practically by highlighting the role of job skill enhancement and job satisfaction as intermediate variables in the process where the effects of the corporate training and development investment are observed.

기업 내 노동조합의 특성과 원가하방경직성

[Purpose] This study investigates the effect of a labor union and its characteristics on a firm’s cost behavior, with a particular focus on both listed and non－listed firms.
 [Methodology] We employ labor union data obtained from the Human Capital Corporate Panel (HCCP) provided by the Korea Research Institute for Vocational Education and Training. We examine how the labor union affects cost stickiness (selling, general, and administration costs) using the model developed by Anderson et al. (2003).
 [Findings] First, we find that firms exhibit cost stickiness in their cost behavior and the presence of labor unions mitigates this cost stickiness. These results suggest that labor unions serve as monitoring mechanisms, thus mitigating cost stickiness arising from agency problems. Second, the bargaining power of labor unions has no incremental impact on cost stickiness. However, we find that cost stickiness is alleviated only when labor unions and firms maintain a cooperative relationship. In other words, labor unions play the role of corporate governance structures as stakeholders of the firm only when labor－management relations are cooperative.
 [Implications] This study examines the impact of labor unions as one of the stakeholders in a firm’s economic decision－making process and their role in corporate governance in alleviating cost stickiness. It underscores the importance of a cooperative labor－management relationship, as labor unions effectively serve their monitoring role in the corporate governance structure only under such conditions. Furthermore, even in a sample primarily comprised of non－listed firms, labor unions can influence cost stickiness.

An Empirical Study on the Effect of a High Performance Work System on the Human Resource Performance of Accounting Experts in Korean Companies: Focusing on the Mediated Effect of Informal Learning

Purpose – The purpose of this study is to verify the effect of a high-performance work system on human resource performance and the mediating effect of informal learning in this causal relationship. Design/Methodology/Approach – The research method of this study is a quantitative approach, and the data was aggregated to the 1st Human Capital Corporate Panel Survey II (HCCPS) by the Korea Research Institute for Vocational Education & Training (KRIVET) due to its focus on the experience of accounting experts in Korean companies. A total of 1,024 participants were included in this study. Findings – The study found that high-involvement work organization and high-commitment HRM had a positive effect on organizational commitment and job competence in Korean companies, and that informal learning had a partial mediating effect in the causal relationship between a high-involvement work organization and organizational commitment and job competence. Research Implications – From a theoretical perspective, this research highlights the importance of informal learning in linking high-performance work system with human resource performance. In addition, this study also demonstrates the relational impact of high-commitment HRM and high-involvement work organization in Korean companies, further expanding the literature on workplace performance. From a practical perspective, this study suggests that companies need to incorporate effective high performance work systems, and build an environment to enable active informal learning opportunities. In addition, institutions should promote learning initiatives to maximize human resource effectiveness, ultimately improving organizational performance.

Training and employee turnover: A social exchange perspective

Training is often thought to benefit organizations; however, these benefits only materialize if trained employees remain at the organization. Empirical findings are mixed regarding the direction and significance of the training-turnover association, which implies there are important moderators for this association. Drawing on the social exchange theory, we posit the training-turnover association varies as a function of two characteristics of an organization’s employees: job qualification and educational background. We assess hypotheses for their moderating impact on the training-turnover link using the Human Capital Corporate Panel data sets from 2009 to 2017. The panel data analyses support the hypotheses regarding the interaction effects of training and job qualification on employee turnover and demonstrate three-way effects among training, job qualification, and educational background. We discuss the theoretical implications of these findings for the varied perceptions of the value of training and the value of staying at the organization from a social exchange perspective. JEL CLASSIFICATION: (1) M53 Training and (2) J63 Turnover; Vacancies; Layoffs

Rethinking skill development in a VUCA world: firm-specific skills developed through training and development in South Korea

PurposeThis study aims to examine the effect of firm-specific skills on formal and informal training and development (T&D) effectiveness, job satisfaction, turnover intentions, and the moderating effect of job tenure on each hypothesized path. The authors adopt a micro perspective on human capital, arguing its significance to examine the role of job attitudes in developing firm-specific skills.Design/methodology/approachA total of 1,514 South Korean workers' responses were obtained from the Human Capital Corporate Panel dataset. This study conducted structural equation modeling (SEM) to examine the structural relationships between the study variables. A subsequent multigroup SEM was conducted to determine whether the structural model differed across job tenures by comparing the results for employees with more than and less than six years of tenure.FindingsThe findings indicate that (a) firm-specific skills have a negative effect on formal T&D effectiveness and no significant effect on informal T&D effectiveness; (b) firm-specific skills have a negative effect on job satisfaction and no significant effect on turnover intentions; (c) formal T&D effectiveness has a positive effect on job satisfaction and a negative effect on turnover intentions; (d) informal T&D effectiveness has a positive effect on job satisfaction and no significant effect on turnover intentions; and (e) job tenure partially moderates the relationships among the proposed study variables.Originality/valueThe study's findings provide new insights into human capital theory, focusing on whether firm-specific skills can be a source of sustained competitive advantage from employees' perspectives.

Expenditures on human resource development and firm financial performance: from the resource orchestration perspective

Firms spend enormous amounts of resources for human resource development (HRD) based on the belief that HRD contributes to firm performance by enhancing employees' capabilities. However, whether investment in HRD actually creates value to firms is inconclusive. We explore whether and when a firm's HRD investment pays off by investigating the relationship between the monetary amount spent for HRD and a firm accounting‐based performance measure (ROE). Using a representative sample of 309 Korean firms from the Human Capital Corporate Panel database between 2009 and 2017, this study finds that HRD expenditures do not have any significant impact on ROE, while its impact is dependent on decoupling in HRD programs and the presence of an HRD department. These findings suggest that without appropriate use, HRD investment would fail to generate superior returns.

Strategic management and organizational culture of medical device companies in relation to corporate performance

Aims Strategies focus on securing the competitiveness of medical device corporations by strengthening their organizational capabilities, which, in turn, ensure their continuous development. This study aims to investigate both management strategies and organizational culture, which may affect the performance of these companies, and analyzes the influence of education and training investment. Materials and methods We used data from the 3rd to 6th Human Capital Corporate Panel surveys by the Korea Research Institute for Vocational Education and Training as well as data from the Korea Information Service and 6,112 workers and 260 companies were analyzed. For the analysis, management strategy and organizational culture were set as independent variables, and corporation performance was set as the dependent variable. Additionally, investment in education and training was set as a control variable between the independent and dependent variables. Corporate performance was analyzed by dividing into organizational satisfaction and organizational commitment. Results Differentiation strategy and innovative culture had a positive (+) effect on organizational satisfaction, while cost leadership strategy and hierarchical culture had a negative (−) effect. On the other hand, in the case of interaction with education and training investment, cost leadership strategy and hierarchical culture had a positive (+) effect, while differentiation strategy and innovation culture had a negative (−) effect. In organizational commitment, innovation culture had a positive (+) effect, and hierarchical culture had a negative (−) effect. In the case of interaction with investment in education and training, only the hierarchical culture had a positive (+) effect. Conclusions The innovation culture positively influenced the performance of medical device companies. Furthermore, cost leadership strategy, hierarchical culture, education and training investment improved the corporate performance of these companies. To enhance corporate performance, these companies should create an innovation culture and invest in education and training in accordance with the organizational culture.

조직의 차등 성과급 균형 운영과 조직 소통 그리고 일의 만족

In today"s workplace, most organizations use rewards as a tool to enhance performance and promote employee motivation. However, the debate over the effectiveness of differentiation in reward continues, with existing studies focusing on the comparative advantages of individual and group incentives in such differential rewards. As a result, little is known about how to balance these two incentives to maximize their benefits. Drawing on the optimal uniqueness theory, we propose that balancing the proportion of individual and group incentives has a positive effect on employee motivation and performance. Specifically, when the proportion of individual-based and group-based incentives is balanced, employees can maintain both personal and social identities, which in turn satisfies their personal and social needs. To verify these theoretical discussions, we used the Human Capital Corporate Panel survey data collected by the Korea Vocational Competency Research Institute. We found that organizations that maintain a balanced proportion of individual and group incentives have a positive effect on organizational communication perceived by employees, which in turn has a positive impact on overall work satisfaction. Furthermore, the study also found that the indirect effect of a balanced incentive system on work satisfaction occurs through organizational communication. Theoretical and practical implications are discussed.

Economic Determinants of Applicant Screening Practices: Analysis of the Korean Human Capital Corporate Panel

This study reviews employers’ existing recruiting practices and the environment in which these aredeployed, and estimates their effect on the employers’ and workers’ outcomes. The Korean Human Capital Corporate Panel spanning years 2005–2013 is used totake stock ofemployers’ screening of applicants’ personal characteristics, and regressions with fixed effects link the screening practicesto firms’ skill needs, skill supply and labor-market constraints. Institutional and market constraints on employers’ conduct are found to affect screening practices morethan firms’skill needs. The existence of HR departments, worker unionization, and applicant pool size have systematiceffects.Employers’ skill needsand screening practices, in turn, affectthe female share amongnewhires. HR departments, personnel committees on boards,andforeign management put a constraint onfirms’hiring discrimination, effectively supportingwomen’s cause.

A Comparative Study on the Measurement of Gender Pay Gap Analysis: Oaxaca-Blinder vs Pay Ratio Method

Purpose - This study purposes to investigate the methodology of measurement in a comparative way by pitting the traditional approach against the recently new approach: Oaxaca-Blinder medium variance and pay-ratio method. Given that Korea’s gender pay gap has been debated on diversity, equality, and inclusion, this study attempts to explore an alternative measurement method towards remedying the situation in Korea. Examining the methodology for analyzing the pay gap is crucial. Previous studies (Heath et al., 2013) have struggled to define the gender pay gap and to explain the phenomenon’s effect in the workplace. This difficulty is experienced because the scope of influence on pay differences is broad and pay-related exceptions always appear in companies.
 Design/Methodology/Approach - This study, using the data of listed companies of the Financial Supervisory Service and HCCP (Human Capital Enterprise Panel) data supported by Korea Research Institute for Vocational Education and Training, analyzes the gender wage gap in Korea in two different measurements. We employ the Human Capital Corporate Panel data (HCCP) for Oaxaca-Blinder method and collect 31,694 employees’ information between 2007 and 2017 from the database. For the organization-level approach, we extract data from the Data Analysis, Retrieval and Transfer System (DART), which provides all the information of publicly-traded firms in Korea disclose. In the DART system, we obtain the pay amounts as well as the populations of 454 firms, randomly generated between 2019 and 2021. These data are matched to the TS2000 database to incorporate the sample firms’ financial information.
 Findings - The results of this study are notable. First, in terms of the Oaxaca-Blinder, the gender wage gap, based on the average annual salary, stands at 36% over the past 10 years. In particular, the gap notably expanded from the manufacturing industry. Second, the women pay-ratio quintile method shows an average pay gap of 32.5%. The effects of data and measurement methods are important. This means the impact of human resource related variables on the gender pay gap is much bigger and consistent in Korean enterprises.
 Research Implications - This study has the following theoretical and practical implications to resolve the pay gap. First, in the pay gap between male and female workers, it is necessary to look more closely at pay-related items and measurement method. Second, it is meaningful to strengthen the evaluation of performance through the disclosure of pay information. Third, in order to reduce the pay gap for women, it is necessary to avoid unfair discrimination in terms of personnel management not only during the employment stage but also after employment.

고성과작업시스템이 조직신뢰와 혁신에 미치는 영향

As facing uncertain and dynamic business environment, organizations should manage their exploratory innovation and exploitative innovation properly to adapt environmental changes in time. Firms should effectively pursue two different ways of innovation, which are indispensable to create sustainable competitive advantages, by exploration of new business opportunities and exploitation of existing business. Organizations need to take this ambidextrous innovation strategy and adopt SHRM(strategic human resource management) which is aligned to the aforementioned exploratory and exploitative innovation. Previous studies have focused on examining the impact of innovation on organizational performance, rather than on finding the sources of innovation or understanding the process to acquire it. The aim of this study is to offer better understandings of organizational innovation by integrating the literature of high performance work systems (HPWS) with the literature of organizational trust. We suggested that HPWS is a proper system for innovation strategy and tested 1) the mediating role of organizational trust between HPWS and innovation and 2) the moderating role of frontline manager’s involvement on the relationship between HPWS and organizational trust Our tests with Human Capital Corporate Panel (HCCP) data(2013-2017) showed that HPWS enhanced exploratory innovation and exploitative innovation through organizational trust. Moreover, frontline manager’s involvement strengthened the relationship between HPWS and organizational trust Theoretical and managerial implications are discussed.

조직문화 유형이 개인성과에 미치는 영향: 커뮤니케이션 매개효과와 조직신뢰의 조절효과

The purpose of the study is to examine the individual performance of the corporate members with the independent variable of organizational culture types (relational culture, innovation culture, hierarchical culture, task culture) and the mediator variable of communication by validating the regulation effect of organizational trust between the independent and dependent variables. For analysis, regression analysis is performed the study examined the dataset from the 2020 Human Capital Corporate Panel (HCCP) published by the Korea Research Institute for Vocational Education and Training that consist of a total target data of 510 corporations and 8,611 employees. The followings are the result of the research. Firstly, among the types of organizational culture, relational culture, innovation culture, and task culture have a statistically significant positive effect whereas hierarchical culture has a negative effect on communication. Secondly, relational culture, innovation culture, and task culture each had a statistically significant positive effect on individual performance, while hierarchical culture has a negative effect. Third, the mediated effect of communication has been found in all types of organizational culture except for hierarchical culture between each organizational culture type and individual performance. Fourth, it has been found that organizational trust regulates the relationship between individual performance and relational/innovation culture among organizational culture types. Hence, the research suggests that it is necessary for the corporate to establish the relational culture, innovation culture, and task culture as well as to come up with measures that can improve individual performance based on horizontal and harmonious communication and organizational trust.

이러닝 효과성과 종업원 생산성 관계에서 훈련 전이와 HRD 제도의 조절된 매개효과

The purpose of the study was to analyze the moderated mediating effects of training transfer and an HRD system on the relationship between effectiveness of e-learning and employee productivity. We utilized the 7th data of the Human Capital Corporate Panel (HCCP) and a total of 3,504 responses. The results are as follows: (1) there was no statistically significant relationship between the effectiveness of e-learning and the employees’ productivity; (2) training transfer mediated the relationship between the effectiveness of e-learning and the productivity of employees; (3) The HRD system moderated the relationship between the effectiveness of e-learning and training transfer; and (4) there were statistically significant moderated mediating effects of training transfer and the HRD system on the relationship between the effectiveness of e-learning and employee productivity. Based on the findings, we discussed theoretical and practical implications from the human resource development perspective.

The Effect of Employees’ Perceived Expertise about HR Department on Satisfaction of Education and Training Opportunities: The Moderating Role of HR Department’s Communication Activities

Purpose - This study examines how employees’ perception of HR department expertise affect their satisfaction of education and training. Moreover, this study explores that the HR department’s communication activities moderate the main effects between satisfaction of education and training opportunities. Design/methodology/approach - This study predicts the positive relationship between employees’ perceptions of HR department expertise and their satisfaction of education and training. Furthermore, the HR department’s communication activities will strengthen this positive relationship. To test these hypotheses, this study used the Human Capital Corporate Panel (HCCP) datasets, especially individual-level 2017 data. The final number of samples is 1,947 for the analyses. In addition, this study utilized a hierarchical regression model with SPSS program. Finding The results analyzed with the hierarchical regression model showed that the perceptions of HR department expertise had a positive relationship with satisfaction of provided educational and training. In addition, the HR department’s communication activities moderated the relationship between perception of HR department expertise and satisfaction of education and training opportunities. Research implications or Originality - This study suggests academic and practical implications for future research in the human resource development filed by clarifying the critical factors to increase employees’ satisfaction and transferability of education and training.

임금의 연공성이 조직성과에 미치는 영향에 관한 연구

Wages are an important factor that affects firm performance by influencing both the composition of the workforce and the behaviors of the employees. This study investigates how seniority-based pay affects firm performance. Using the Human Capital Corporate Panel (HCCP), we found that sales per employee, but not return on assets, was positively associated with the extent to which wages were increased by tenure. Limited support was found for the moderating effect of technological changes. These results demonstrate the importance of pay structures with regard to firm performance.

Determinants of time investment in education and training of corporate workers, by training type

This study aims to identify the factors affecting the participation of corporate workers in vocational education and training, focusing on the types of participation and the total training time. We utilised a hierarchical linear model to analyse the data of 7,985 workers from 392 companies from the human capital corporate panel (HCCP). The results of the study showed that the individual variables of education, job satisfaction, and working hours positively influenced participation. In terms of training types, participation in group, distance, and on-the-job training significantly affected education and training time. At the firm level, industry type and the firm HR infrastructure (such as establishing a human resource development plan) showed an effect. Accordingly, beyond the individual's interest and willingness, firm-level support and systems are needed. Based on these results, we suggest policy considerations at corporate and policy levels to increase Korean workers' participation in vocational education and training.

The Perceived Utility of Education and Training in SMEs on Employee Satisfaction: The Moderating Role of HRM Department Activities

Purpose - Drawing on the content-process approach, this study examines the effect of employees’ perceived utility of education and training in small and medium enterprises (SMEs) on their satisfaction. In addition, this study investigates how the human resource management department’ activities moderate the relationship between employees’ perceived utility of education and training and satisfaction. Design/methodology/approach - This study predicts the positive relationship between employees’ perceived utility of education and training and satisfaction, and HR activities strengthens this positive relationship. To test these hypotheses, this study utilized Human Capital Corporate Panel (HCCP) datasets, especially 2017 data at the individual level. The number of the final sample is 425 for the test. Moreover, this study used the hierarchical regression model with SPSS. Finding - As predicted, the analytical results with the hierarchical regression model showed that employees’ percieved utility of education and training and satisfaction were positively related. In addition, HR activities strengthened this relationship between employees’ percieved utility of education and training and satisfaction. Research implications or Originality - This study will provide academic and practical implications for future research on human resource development, especially SMEs by deepening an understanding of the important factors in order to increase employees’ satisfaction of education and training. the number of viewers is found in most American films released in Korea.