人力资源配置能力、人力资源发展支出与公司收入：区分持续的公司差异与年度变化

Purpose This study aims to examine whether persistent between-firm differences and annual within-firm changes in human resource development (HRD) resources are differently associated with firm revenue. It tests whether this distal financial association is more consistent with accumulated organizational capacity than with a short-term input–output response. Design/methodology/approach Four waves of South Korean firm-level panel data from 2020 to 2023 were analysed. Linear mixed-effects models decomposed HR staffing capacity and HRD expenditure into between-firm means and within-firm deviations