The theoretical value of understanding HRM’s financial value

References

• Aguinis, H., O’Boyle, E., Gonzalez-Mulé, E., & Joo, H. (2016). Cumulative advantage: Conductors and insulators of heavy-tailed productivity distributions and productivity stars. Personnel Psychology, 69(1), 3–66. https://doi.org/10.1111/peps.12095
   Web of Science ®Google Scholar
• Asgari, E., Hunt, R., Lerner, D., Townsend, D., Hayward, M. L., & Kiefer, K. (2021). Red giants or black holes? The antecedent conditions and multi-level impacts of star performers. Academy of Management Annals, 15(1), 223–265. https://doi.org/10.5465/annals.2019.0061
   Web of Science ®Google Scholar
• Avolio, B. J., Avey, J. B., & Quisenberry, D. (2010). Estimating return on leadership development investment. The Leadership Quarterly, 21(4), 633–644. https://doi.org/10.1016/j.leaqua.2010.06.006
   Web of Science ®Google Scholar
• Ballard, T., Palada, H., Griffin, M., & Neal, A. (2021). An integrated approach to testing dynamic, multilevel theory”: Using computational models to connect theory, model, and data. Organizational Research Methods, 24(2), 251–284. https://doi.org/10.1177/1094428119881209
   Web of Science ®Google Scholar
• Ballard, T., Yeo, G., Loft, S., Vancouver, J. B., & Neal, A. (2016). An integrative formal model of motivation and decision making: The MGPM. The Journal of Applied Psychology, 101(9), 1240–1265. https://doi.org/10.1037/apl0000121
   PubMed Web of Science ®Google Scholar
• Barney, J. B., & Clark, D. N. (2007). Resource-based theory: Creating and sustaining competitive advantage. Oxford University Press.
   Google Scholar
• Boudreau, J. W. (1983a). Economic considerations in estimating the utility of human resource productivity improvements. Personnel Psychology, 36(3), 551–576. https://doi.org/10.1111/j.1744-6570.1983.tb02235.x
   Web of Science ®Google Scholar
• Boudreau, J. W. (1983b). Effects of employee flows on utility analysis of human resource productivity improvement programs. Journal of Applied Psychology, 68(3), 396–406. https://doi.org/10.1037/0021-9010.68.3.396
   Web of Science ®Google Scholar
• Boudreau, J. W. (1991). Utility analysis for decisions in human resource management. In M. D. Dunnette & L. M. Hough (Eds.), Handbook of industrial and organizational psychology (pp. 621–745). Consulting Psychologists Press.
   Google Scholar
• Boudreau, J. W., & Berger, C. J. (1985). Decision-theoretic utility analysis applied to employee separations and acquisitions. Journal of Applied Psychology, 70(3), 581–612. https://doi.org/10.1037/0021-9010.70.3.581
   Web of Science ®Google Scholar
• Boudreau, J. W., Sturman, M. C., & Judge, T. A. (1994). Utility analysis: What are the black boxes and do they affect decisions? In N. Anderson & P. Herriot (Eds.) Assessment and selection in organizations (pp. 77–96), John Wiley & Sons.
   Google Scholar
• Bowman, C., & Ambrosini, V. (2000). Value creation versus value capture: Towards a coherent definition of value in strategy. British Journal of Management, 11(1), 1–15. https://doi.org/10.1111/1467-8551.00147
   Web of Science ®Google Scholar
• Brogden, H. E. (1949). When testing pays off. Personnel Psychology, 2(2), 171–183. https://doi.org/10.1111/j.1744-6570.1949.tb01397.x
   Web of Science ®Google Scholar
• Brogden, H. E., & Taylor, E. K. (1950). The dollar criterion: Applying the cost accounting concept to criterion construction. Personnel Psychology, 3(2), 133–154. https://doi.org/10.1111/j.1744-6570.1950.tb01691.x
   Web of Science ®Google Scholar
• Burke, M. J., & Frederick, J. T. (1986). A comparison of economic utility estimates for alternative rational SDy estimation procedures. Journal of Applied Psychology, 71(2), 334–339. https://doi.org/10.1037/0021-9010.71.2.334
   Web of Science ®Google Scholar
• Call, M. L., & Ployhart, R. E. (2021). A theory of firm value capture from employee job performance: A multidisciplinary perspective. Academy of Management Review, 46(3), 572–590. https://doi.org/10.5465/amr.2018.0103
   Web of Science ®Google Scholar
• Carretero-Gómez, J. M., & Cabrera, E. F. (2012). An empirical evaluation of training using multi-attribute utility analysis. Journal of Business and Psychology, 27(2), 223–241. https://doi.org/10.1007/s10869-011-9241-6
   Web of Science ®Google Scholar
• Cascio, W. F., Schmidt, N., & Borman, W. C. (1992). Assessing the utility of selection decisions: Theoretical and practical considerations. In Personnel selection in organizations (pp. 310–340). Jossey-Bass.
   Google Scholar
• Cascio, W. F., Boudreau, J. W., & Fink, A. A. (2019). Investing in people: Financial impact of human resource initiatives. (3rd ed.) Pearson Education.
   Google Scholar
• Cronbach, L. J., & Gleser, G. C. (1965). Psychological tests and personnel decisions. University of Illinois Press.
   Google Scholar
• Davis, J. P., Eisenhardt, K. M., & Bingham, C. B. (2007). Developing theory through simulation methods. Academy of Management Review, 32(2), 480–499. https://doi.org/10.5465/amr.2007.24351453
   Web of Science ®Google Scholar
• De Corte, W. (1994). Utility analysis for the one-cohort selection-retention decision with a probationary period. Journal of Applied Psychology, 79(3), 402–411. https://doi.org/10.1037/0021-9010.79.3.402
   Web of Science ®Google Scholar
• Edwards, J. R., & Berry, J. W. (2010). The presence of something or the absence of nothing: Increasing theoretical precision in management research. Organizational Research Methods, 13(4), 668–689. https://doi.org/10.1177/1094428110380467
   Web of Science ®Google Scholar
• Harrison, J. R., Lin, Z., Carroll, G. R., & Carley, K. M. (2007). Simulation modeling in organizational and management research. Academy of Management Review, 32(4), 1229–1245. https://doi.org/10.5465/amr.2007.26586485
   Web of Science ®Google Scholar
• Joo, H., Aguinis, H., & Bradley, K. J. (2017). Not all nonnormal distributions are created equal: Improved theoretical and measurement precision. The Journal of Applied Psychology, 102(7), 1022–1053. https://doi.org/10.1037/apl0000214
   PubMed Web of Science ®Google Scholar
• Joo, H., Aguinis, H., Lee, J., Kremer, H., & Villamor, I. (2022). HR’s financial value from obtaining more star performers. The International Journal of Human Resource Management, 33(21), 4179–4214. https://doi.org/10.1080/09585192.2021.1948890
   Web of Science ®Google Scholar
• Kehoe, R. R., Lepak, D. P., & Bentley, F. S. (2018). Let’s call a star a star: Task performance, external status, and exceptional contributors in organizations. Journal of Management, 44(5), 1848–1872. https://doi.org/10.1177/0149206316628644
   Web of Science ®Google Scholar
• Latham, G. P., & Whyte, G. (1994). The futility of utility analysis. Personnel Psychology, 47(1), 31–46. https://doi.org/10.1111/j.1744-6570.1994.tb02408.x
   Web of Science ®Google Scholar
• Lepak, D. P., Smith, K. G., & Taylor, S. (2007). Value creation and value capture: A multilevel perspective. Academy of Management Review, 32(1), 180–194. https://doi.org/10.5465/amr.2007.23464011
   Web of Science ®Google Scholar
• Macan, T. H., & Highhouse, S. (1994). Communicating the utility of human resource activities: A survey if I/O and HR professionals. Journal of Business and Psychology, 8(4), 425–436. https://doi.org/10.1007/BF02230958
   Google Scholar
• Meehl, P. E. (1967). Theory-testing in psychology and physics: A methodological paradox. Philosophy of Science, 34(2), 103–115. https://doi.org/10.1086/288135
   Web of Science ®Google Scholar
• Meehl, P. E. (1978). Theoretical risks and tabular asterisks: Sir Karl, Sir Ronald, and the slow progress of soft psychology. Journal of Consulting and Clinical Psychology, 46(4), 806–834. https://doi.org/10.1037/0022-006X.46.4.806
   Web of Science ®Google Scholar
• Meehl, P. E. (1990). Why summaries of research on psychological theories are often uninterpretable. Psychological Reports, 66(1), 195–244. https://doi.org/10.2466/pr0.1990.66.1.195
   Web of Science ®Google Scholar
• Morris, S. S., Alvarez, S. A., & Barney, J. B. (2021). Dancing with the stars: The practical value of theory in managing star employees. Academy of Management Perspectives, 35(2), 248–264. https://doi.org/10.5465/amp.2017.0223
   Web of Science ®Google Scholar
• Murphy, K. R. (1986). When your top choice turns you down: Effect of rejected offers on the utility of selection tests. Psychological Bulletin, 99(1), 133–138. https://doi.org/10.1037/0033-2909.99.1.133
   Web of Science ®Google Scholar
• O’Boyle, E., & Aguinis, H. (2012). The best and the rest: Revisiting the norm or normality of individual performance. Personnel Psychology, 65(1), 79–119. https://doi.org/10.1111/j.1744-6570.2011.01239.x
   Web of Science ®Google Scholar
• O’Boyle, E., & Kroska, S. (2017). Star performers. In D. G. Collings, K. Mellahi, & W. F. Cascio (Eds.), Oxford handbook of talent management (pp. 43–65). Oxford University Press.
   Google Scholar
• Schmidt, F. L., Hunter, J. E., McKenzie, R. C., & Muldrow, T. W. (1979). Impact of valid selection procedures on work-force productivity. Journal of Applied Psychology, 64(6), 609–626. https://doi.org/10.1037/0021-9010.64.6.609
   Web of Science ®Google Scholar
• Schmidt, F. L., & Kaplan, L. B. (1971). Composite vs. multiple criteria: A review and resolution of the controversy. Personnel Psychology, 24(3), 419–434. https://doi.org/10.1111/j.1744-6570.1971.tb00365.x
   Web of Science ®Google Scholar
• Sturman, M. C. (2000). Implications of utility analysis adjustments for estimates of human resource intervention value. Journal of Management, 26(2), 281–299. https://doi.org/10.1177/014920630002600206
   Web of Science ®Google Scholar
• Sturman, M. C. (2003). Introducing utility analysis for hospitality: A tool for quantifying the value of human resource interventions. The Cornell Hotel and Restaurant Administration Quarterly, 44(2), 106–108. https://doi.org/10.1016/S0010-8804(03)90023-1
   Google Scholar
• Sturman, M. C. (2012). Employee value: Combining utility analysis with strategic human resource management research to yield strong theory. In N. Schmitt (Ed.), Oxford handbook of personnel assessment and selection (pp. 768–792). Oxford University Press.
   Google Scholar
• Sturman, M. C., Cheramie, R. A., & Cashen, L. H. (2005). The impact of job complexity and performance measurement on the temporal consistency, stability, and test-retest reliability of employee job performance ratings. The Journal of Applied Psychology, 90(2), 269–283. https://doi.org/10.1037/0021-9010.90.2.269
   PubMed Web of Science ®Google Scholar
• Sturman, M. C., Trevor, C. O., Boudreau, J. W., & Gerhart, B. (2003). Is it worth it to win the talent war? Evaluating the utility of performance-based pay. Personnel Psychology, 56(4), 997–1035. https://doi.org/10.1111/j.1744-6570.2003.tb00248.x
   Web of Science ®Google Scholar
• Sundaram, A. K., & Inkpen, A. C. (2004). The corporate objective revisited. Organization Science, 15(3), 350–363. https://doi.org/10.1287/orsc.1040.0068
   Web of Science ®Google Scholar
• Taylor, E. C., & Bendickson, J. S. (2021). Star performers, unit performance and unit turnover: A constructive replication. Human Resource Management Journal, 31(4), 977–994. https://doi.org/10.1111/1748-8583.12336
   Web of Science ®Google Scholar
• Tiffin, J. (1942). Industrial Psychology. Prentice Hall.
   Google Scholar
• U.S Census Bureau. (2021, April 21). Educational Attainment in the United States: 2020. https://www.census.gov/data/tables/2020/demo/educational-attainment/cps-detailed-tables.html
   Google Scholar
• Vancouver, J. B., Wang, M., & Li, X. (2020). Translating informal theories into formal theories: The case of the dynamic computational model of the integrated model of work motivation. Organizational Research Methods, 23(2), 238–274. https://doi.org/10.1177/1094428118780308
   Web of Science ®Google Scholar
• Whyte, G., & Latham, G. P. (1997). The futility of utility analysis revisited: When even an expert fails. Personnel Psychology, 50(3), 601–610. https://doi.org/10.1111/j.1744-6570.1997.tb00705.x
   Web of Science ®Google Scholar