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In today’s competitive environment, in order for a company to exist, it must continually improve its performance by reducing cost, improving quality and productivity, and easy access to market. Therefore, businesses have to know the factors which affect their performance and manage these factors effectively in order to survive and face an ever increasing competitive pressure. The purpose of this article is to explore the effects of the human resource management, marketing and manufacturing performance on financial performance by considering marketing performance and manufacturing performance as mediating variables in the relationships between human resource management and financial performance. For this purpose, data were obtained from 110 firms within and around the Kocaeli Industrial Region. In order to test the hypotheses of this study, correlation and regression analyses were performed. Results of correlation analysis revealed that all variables are positively related to both financial performance and to each other. The findings from regression analysis reveal that both marketing and manufacturing performance have statistically significant positive effect on a firm’s financial performance. Human resource management does not have any statistically significant effect on a firm’s financial performance. The effect of human resource management on financial performance is overshadowed. The results of regression analysis shows that manufacturing performance fully mediates and marketing performance partially mediates the relationship between the human resource management and financial performance