Table 3

Path analysis summary in PLS-SEM for SEWE&JS and company performance results in finance

HQS pre-pandemicHQS during the pandemic
Variables in pathsβZp95%CIVariables in pathsβZp95%CI
SEWE&JS → finance0.153.00<0.001[0.05; 0.25]SEWE&JS → finance0.092.55<0.05[0.02; 0.15]
SEWE&JS → HRM (α)0.589.08<0.001[0.46; 0.71]SEWE&JS → HRM (α)0.528.19<0.001[0.40; 0.64]
HRM → finance0.8214.18<0.001[0.70; 0.93]HRM → finance0.8516.69<0.001[0.75; 0.95]
Mediation effect of HRM (αβ)0.486.71<0.001[0.34; 0.61]Mediation effect of HRM (αβ)0.447.37<0.001[0.32; 0.56]
Foreign subsidiaries pre-pandemicForeign subsidiaries during the pandemic
Variables in pathsβZp95%CIVariables in pathsβZp95%CI
SEWE&JS → finance0.061.79p > 0.05SEWE&JS → finance0.092.17<0.05[0.01; 0.16]
SEWE&JS → HRM (α)0.375.39<0.001[0.24; 0.50]SEWE&JS → HRM (α)0.385.21<0.001[0.24; 0.52]
HRM → finance0.8814.00<0.001[0.76; 1.00]HRM → finance0.8414.82<0.001[0.73; 0.95]
Mediation effect of HRM (αβ)0.324.69<0.001[0.19; 0.46]Mediation effect of HRM (αβ)0.324.91<0.001[0.19; 0.45]

Note(s): All variables modified by the efficiency ratio (employee KPIs)

Source(s): Own empirical research

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