Human capital is professed as a critical factor and a special resource that can elevate the firm’s performance, generally, in most of the organizations, and specifically, in labor-intensive organizations. It is considered a special resource in the hotel industry where employees have direct interaction with customers. Although a lot of research has been done, however, the question of how much and what type of human capital is required by the organization to fight in the recent rivalry is still unanswered. This study is an effort to answer the aforesaid question about human capital in the hospitality sector in Pakistan (involving five stars, four-star, and three-star hotels separately). A theoretical framework and a research conceptual model is developed on the bases of in-depth literature. A cross-sectional field survey was conducted through an adopted and valid research instrument. Questionnaires were administered to 300 respondents selected by stratified random sampling, 275 were received and 250 were perfect for further use in SPSS version 22. Statistical analysis shows the results which clearly identify the strong and significant relationship between human capital and organizational performance. Moreover, microanalysis of components of human capital depicts that innovation and creation have the most significant impact among all of the three components, on organizational performance in all types of hotels in Pakistan. Theoretically, the current study added knowledge to the literature about the constructs of human capital, organizational performance, and organization success. Practically, in the hotel industry, it contributes to strategic decision making such as employees’ training, human capital investment, regulatory decisions, developing mechanisms in order to develop human capital as a unique and valuable resource that leads to the competitive advantage of the organizations. The current study is limited to five stars, four-star and three-star hotels in Lahore, Pakistan. It an important and initial step towards establishing a measurable and empirical value of human capital for organizations in the hospitality sector. However, It opens new vistas for researchers to further investigate the phenomenon.
Purpose The purpose of this paper is to investigate the financing behavior of firms in Pakistan. Previous studies have investigated corporate leverage determinants within any particular industry, such as manufacturing industry, textiles industry, etc., with varying results. This is one of the few studies that examine the determinants of leveraging attitude of firms across industrial sectors for textiles, large industries, and small industries. Thus, the study provides an insight into the general debt financing behavior in Pakistan and allows a basis for comparison of the leveraging decisions across industries. Design/methodology/approach The study employs the structural equations methodology which captures the endogenous relationship between profitability and leverage. Thereby, eliminating bias and providing more accurate results. Findings The findings suggest that the leveraging decisions differ across sectors and that each industry has its own distinctive debt requirements/characteristics. The authors conclude that a singular approach taken by investors and analysts would provide inaccurate assessment of firms’ debt financing policies and strategies. Research limitations/implications There is a limitation on data availability in emerging countries, and a larger sample would have provided more robust results. Therefore, the study has only taken three sector sub-divisions, and more industry categories would have provided in-depth insights into the industry-wise leveraging behavior. Practical implications This is the first study to suggest that the borrowing attitude of firms differ across industries and vary due to their specific needs. This has implications for government regulators, investors, and creditors in providing a more customized approach to analyzing and meeting the external financing needs of firms. Originality/value This study is the first to use simultaneous equations model to eliminate bias that is prevalent in similar studies in Pakistan. The SEM captures the endogenous relationship between profitability and leverage. The research provides important information about the underlying financing behavior across industries, which has largely been ignored.
The paper aims to test an explanation of how organizational culture affects the relationship between knowledge sharing and organizational performance. It was expected that organizational culture proxies significantly mediate the relationship between knowledge sharing and performance. The study used a quantitative survey method for the collection of data. A sample of 200 respondents was drawn from the higher education institutes (HEIs) situated in Lahore. The findings revealed that a positive relationship exists; except for when the components were tested individually for their role in moderating it, then learning environment became insignificant. The strong impact of interpersonal communication and trust highlights its significance in boosting knowledge sharing in an organization that results in improved performance. This finding helped the authors to draw on future research implications regarding the components of organizational culture.
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