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MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY

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BUI THI PHUONG LINH

THE RELATIONSHIP BETWEEN HIGH PERFORMANCE WORK SYSTEMS AND BUSINESS PERFORMANCE: THE CASE OF COMMERCIAL JOINT STOCK BANKS IN HCM CITY

Major: Business administration Code: 9340101

SUMMARY OF THESIS

Ho Chi Minh City - 2024

The work was conducted and completed at the University of

Economics Ho Chi Minh City

Academic instructor:

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The thesis will be defended before the university-level doctoral thesis grading committee, meeting at the University of Economics Ho Chi Minh City At …… hour ……… month ………, 2024

The thesis can be found at the library:

University of Economics Ho Chi Minh City

CHAPTER 1 RESEARCH OVERVIEW

1.1 The research context

1.1.1 From practice

Currently, domestic joint stock commercial banks not only compete fiercely with each other but also with foreign banks and major financial technology companies (Fintech) When Vietnam become an official member of the World Trade Organization (WTO) in 2007, Vietnam gradually opened its financial market to create conditions for international organizations to invest in Vietnam, including foreign banks and financial technology companies (Fintech) This puts pressure on the system of Vietnamese joint stock commercial banks in the fierce competition with foreign financial institutions This fierce competition has caused some joint stock commercial banks to have low business results and be forced to restructure To improve quality, business performance and ensure safety of credit institutions, on June 8th, 2022, the Government issued Decision 689/QD-TTg approving the Project “Restructuring the system of credit institutions associated with handling bad debt in the period 2021 – 2025” The restructuring

of joint stock commercial banks leads to disturbances in the bank's staff and thereby affects the bank's business results

1.1.2 From a gap in scientific research

The researchers have recently learned a lot about high performance work systems (HPWS), also known as high-performance models, and have developed this topic into a prominent topic in research on HRM

(Ramdani et al., 2014) The research by Becker & Gerhart (1996) and

Pfeffer et al (1995) showed that HPWS has an impact on business performance (BP) of businesses Synthesizing research on the relationship between HPWS and business performance, similar to the

relationship between human resource management and business performance, the author finds that there are two main research trends

as follows:

The first trend: Research the direct relationship between HPWS

and BP and factors affecting this relationship The research by Delaney & Huselid (1996); MacDuffie (1995); Batt (2002); Youndt et

al (1996); Snell & Youndt (1995) showed that when studying HPWS from an individual or group perspective, all are positively related to the organization's business performance At the same time, these studies also show that HPWS has an impact on business performance

in many different industries Additionally, HPWS was found to influence a number of outcomes at the organizational level Recently, the research of Combs et al (2006), Takeuchi et al (2007), Jensen et

al (2013), Tregaskis et al (2013) has provided experimental evidence that there is a relationship between HPWS and BP The research of Combs et al.(2006) performed a meta-analysis of 92 studies and found that these studies examined and established a link between HPWS and outcomes related to output efficiency Furthermore, the research of Tregaskis et al (2013) has shown that HPWS is associated with stabilizing and maintaining increases in productivity and safety performance Moreover, contingency theorists have attempted to show how certain HR practices align with different strategies and how these practices are related to firm performance (Gomez-Mejia & Balkin, 1992; Schuler & Jackson, 1987)

The research by Prajogo et al (2016) studied the impact of human capital on service innovation advantages, business performance and the impact of the business environment on this relationship

The results showed that the competitive environment has an impact

on the relationship between service innovation advantage and business performance However, the moderating role of dynamic environment

on the relationship between HPWS and service ability, service ability and business performance will be different when researched in different industries

The second trend: To research the relationship between HPWS

and business performance through intermediary mechanisms Recently, there has been a series of researchers such as Aryee et al (2012); Chang (2015); Fu et al (2015); Jensen et al (2013); Patel et al (2013); Do et al (2016); Agarwal & Farndale (2017); Tang et al (2017); Korff and colleagues (2017) who developed and explored the link between HPWS and business performance through an intermediary mechanism The research of Van De Voorde & Beijer (2015) studied the relationship between HPWS and the effectiveness

of employees in the company through the intermediary of human resource competence The social exchange theory is used at the group level to demonstrate the relationship between HPWS and department performance (Messersmith et al., 2011) The social mechanism in HPWS connects the links between the organization and its employees, from which, it established a social environment that allows employees

to share their perceptions and concerns about the broader vision of the organization (Takeuchi et al., 2009) The AMO theory is also a theory commonly used when researching about HPWS This theory was used

in explaining the relationship of HPWS with innovation performance (Chiang et al., 2015) and service performance (Do et al., 2016) The AMO theory has also been found to be prominent in explaining the effects of HPWS at organizational level, such as business performance

and improved employee outcomes (Boxall, 2003), relative basis of performance (Takeuchi et al., 2007), information exchange efficiency and creativity (Chiang et al., 2015) HPWS is designed with the ability, motivation, and opportunity to enhance human resource practices that promote the performance of individuals (Edgar et al., 2020)

The researches by Chuang & Liao (2010), Agree et al (2012), Jiang, Chuang et al (2015) have studied the relationship between HPWS and BP with the organizational environment is intermediate variable The research by Agree et al (2012) mentioned the mediation

of empowerment climate on the relationship between HPWS and service performance and market performance at the company and individual levels The research by Jiang et al (2015) mentioned the mediating role of service environment in the relationship between service-oriented HPWS, service leadership, service performance and financial performance In general, these three studies have only considered the opportunity - environment (O) component of the three components of AMO as mediator without considering the mediating component of ability (A) and motivation (M) Therefore, currently there has not been any research that simultaneously considers the mediating role of all three components A, M, O in the relationship between HPWS and BP

Thus, combining contingency theory, resource-based theory and AMO theory through the intermediary role of AMO in the relationship between HPWS and BP and the moderating role of dynamic environment on the relationship between HPWS and service ability, service ability and business performance in the banking industry is still

a new and necessary work At the same time, the author has not found

a study that combines the effects of mediating variables and moderating variables Therefore, the implementation of the topic:

"The relationship between high performance work systems and business performance: the case of commercial joint stock bank in HCM city” has practical and theoretical significance

1.2 Objectives, methods of the study

1.2.1 General objective

- To build research model to synthesize the relationship between HPWS and BP through the intermediate variable AMO and the moderating variable dynamic environment

- To analyze the role of the intermediate variable AMO in the relationship between HPWS and business performance

- To evaluate the role of dynamic environmental moderating variables on the relationship between HPWS and service ability and service ability and business performance

1.2.2 Specific objectives

- To present overview of the theories of HPWS, contingency theory, resource-based theory, AMO theory, dynamic environment, and business performance to propose a research model

- Testing the scale of components of HPWS, AMO, dynamic environment and business performance of joint stock commercial banks

- To analyze the role of the intermediate variable AMO in the relationship between HPWS and business performance

- To evaluate the role of dynamic environmental moderating variables on the relationship between HPWS and service ability and service ability and business performance

1.4.2 Research scope

The scope of the study is joint stock commercial banks in Ho Chi Minh City Because Ho Chi Minh City is an area with a dynamic economy and many branches and transaction offices of joint stock commercial banks

1.5 Meaning and new contribution of research

1.5.1 Relating to theory

The thesis contributes to supplementing the theories of HPWS, contingency theory, AMO, business performance, and dynamic environment in the context of banking industry Besides, the study has proven the role of the intermediate variable AMO in the relationship between HPWS and business performance in joint stock commercial banks At the same time, the study has clarified the positive contribution of a dynamic environment to the relationship between

HPWS and service ability and service ability and business performance in joint stock commercial banks

1.5.2 Concerning practice

The results of the thesis provide materials to help managers realize the importance of HPWS to the bank's business performance, from which managers will build appropriate human resource management strategies In addition, some proposed management implications contribute to orienting and building a high-performance working system and improving business results of commercial banks

1.6 Structure of research

The thesis is presented in the structure of 5 chapters: Chapter 1 Research overview; Chapter 2 Theoretical basis and research model; Chapter 3 Research Methods; Chapter 4 Research results; Chapter

5 Conclusions and implications for management

CHAPTER 2 THEORETICAL BASIS AND RESEARCH

MODEL 2.1 Grounded theory

2.1.1 Contingency theory

Contingency theory tells us the definition of human resources, policies, strategies, list of activities, analysis of the role of the human resources department and this department is only valuable when they are related to the organization's situation Legge (1978) also emphasized that contingency approach should be applied to human resource management, for example: “Policy design and implementation must be appropriate or dependent on the requirements and circumstances of the designated organization.” And Paauwe (2004) also explains: Contingency theory states the relationship

between relevant independent variables (e.g HRM policies and practices) and the dependent variable (business performance) will vary depending on the effects of company size, years of establishment, technology, capital level, alliance level, industry ownership and company location

2.1.2 AMO Theory

The AMO theory proposes three key components that impact employee and business results: Ability, Motivation and Opportunity (Jiang et al., 2012; Claudia, 2015):

Ability (A): Demonstrates knowledge, skills and abilities to achieve work results (Jiang et al., 2012) The mediating variables that have been used include: Ability (Edgar et al., 2020; 2021), human capital (Shahzad et al., 2019; Aryee et al., 2016; Subramony & Pugh, 2015; Liao et al., 2009), customer knowledge (Jiang et al., 2015), and service ability (Chao & Shih, 2016; Wang & Xu, 2017)

Motivation (M): Demonstrates desire and willingness to do work, employees will do good work because they have the desire or feel they need to do it (Jiang et al., 2012) The mediating variables used include: Motivation (Edgar et al., 2020; 2021), service/customer orientation (Wang & Xu, 2017; Stock & Hoyer, 2005; Aryee et al., 2016), organizational support and reinforcement psychological strength (Liao et al., 2009)

Opportunity (O): Demonstrates the environment, atmosphere and conditions that provide employees with support to perform work (Jiang et al (2012) The mediating variables that were used include: Opportunity (Edgar et al., 2020; 2021); employee voice (Shahzad et al., 2019); service/customer environment (Wang & Xu, 2017; Jiang et al., 2015; Subramony & Pugh, 2015; Chuang & Liao, 2010)

2.1.3 Resource-based Theory

According to the resource-based view (RBV) of the firm, the foundation of any organization's sustained competitive advantage depends on resources and/or its heterogeneous A resource can be considered a tangible or intangible asset, such as financial capital, machinery, brands, and manufacturing knowledge (Barney, 1991; Lado & Zhang, 1998)

2.2 The concepts in the research model

2.2.1 High performance work systems (HPWS)

HPWS is a system of human resource practices designed to increase employee ability, motivation, and opportunities thereby enhancing organizational business performance (Chuang and Liao, 2010)

2.2.2 Service ability

Service ability are the knowledge, abilities, and skills of employees to provide superior services and tools that create customer satisfaction (Wang & Xu, 2017)

2.2.3 Service orientation

This study uses the definition of Stock & Hoyer (2005), which considers service orientation as employees with the ability to provide superior quality service and create customer satisfaction and includes two components: customer-oriented attitudes and customer-oriented behavior

Customer-oriented attitude demonstrates a salesperson's awareness and concern for customer needs

Customer-oriented behavior is the ability of salespeople to help their customers in order to increase customer satisfaction

2.2.4 Service climate

Service climate is an employee's perception of practices, processes, and rewarded, supported, and expected behaviors associated with customer service quality (Schneider et al., 1998)

2.3 Research hypotheses and model

2.3.1 The impact of HPWS on service ability

H1: HPWS has a direct and positive impact on service ability

2.3.2 The impact of service ability on business performance

H2: Service ability has a direct and positive impact on business performance

2.3.3 The impact of HPWS on service orientation

H3: HPWS has a direct and positive impact on service orientation

2.3.4 The impact of service orientation on business performance

H4: Service orientation has a direct and positive impact on business performance

2.3.5 The impact of HPWS on service climate

H5: HPWS has a direct and positive impact on service climate

2.3.6 The impact of service climate on business performance

H6: Service climate has a direct and positive impact on business performance

2.3.7 The mediating role of AMO

2.3.7.1 The mediating role of service ability in the relationship between HPWS and business performance

H7a: Service ability mediates the relationship between HPWS and

business performance

2.3.7.2 The mediating role of service orientation in the relationship between HPWS and business performance

H7b: Service orientation mediates the relationship between HPWS

and business performance

2.3.7.3 The mediating role of service climate in the relationship between HPWS and business performance

H7c: Service climate mediates the relationship between HPWS and

2.3.9 The moderatingrole of dynamic environment

H9a: Dynamic environment moderates the relationship between HPWS and service ability The relationship between HPWS and service ability will be stronger when the environment is more dynamic H9b: Dynamic environment moderates the relationship between service ability and business performance The relationship between service ability and business performance will be weaker when the environment becomes more dynamic