To invest or not to invest: strategic decision making toward investing in training and development in Korean manufacturing firms
研究了韩国制造业企业高层管理者的战略导向如何影响培训与开发投资决策，发现企业绩效和环境变化通过战略导向影响资金分配，且人力资本水平高时这种影响更强。
This study draws on the literature on strategic choice theory and training and development (T&D) to explore the theoretical mechanisms that explain the strategic decisions of top management, thereby leading to the T&D investment of firms. The current theoretical framework was examined using cross-lagged data collected from 163 Korean manufacturing companies at three time points over a five-year period. Results confirmed that firm performance and environmental change exert significant effects on top management strategic orientation toward T&D, which in turn, lead to financial resource allocation to T&D. The analysis also demonstrated that the effect of top management strategic orientation toward T&D on actual financial investment in T&D is stronger when the current level of human capital is high but not when it is low. This study provides meaningful practical and theoretical insights into the firm-level strategic decisions on T&D investment in organizations.