HUMAN RESOURCE MANAGEMENT AND FIRM PERFORMANCE: EVIDENCE FROM HOTEL AND TOURISM QUOTED COMPANIES IN NIGERIA

Abstract

The study examines the impact of human resource management on the performance of the hotel and tourism in Nigeria. This study used only quoted hotels and tourism companies in the Nigeria Stock Exchange that have consistently published their audited financial report between years 2006 to 2014. A sample of four hotels and tourism companies formed the sample size of the study to ensure adequate observation for statistical testing. The empirical results from the HAC NeweyWest regression technique revealed that training and development has an insignificant positive impact on performance of the hotel and tourism industry. Pension and gratuity has a positive and insignificant impact on performance of the hotel and tourism industry. The interaction between compensation cost and employee turnover has a positive and significant impact on performance of the hotel and tourism industry at 10% level of significance. The study therefore recommended that management should motivate the staff by compensating them with other  monetary benefit that would improve their performance. It is therefore suggested that further empirical work should be conducted on the subject  matter by adopting other models for the empirical research design.