Examining the role of human resources management with the company’s performance based on the mediating role of employee cooperation

Economic Annals-XXI: Volume 215, Issue (5-6), Pages: 53-58

Citation information
Rusliati, E., Fahd, M. A., Sharifkhujaev, Sh., Achilova, Sh., Ziyayeva, Sh., & Ilxomjonova, F. (2025). Examining the role of human resources management with the company’s performance based on the mediating role of employee cooperation. Economic Annals-XXI, 215(5-6), 53-58. doi: https://doi.org/10.21003/ea.V215-09

Ellen Rusliati
PhD (Management),
Pasundan University
6-8 Jl. Tamansari Str., Kota Bandung, 40116, Indonesia
ellen_rusliati@unpas.ac.id
ORCID ID: https://orcid.org/0000-0001-9942-584X

Maryam Alawi Fahd
MA (Education),
College of Islamic Sciences,
University of Baghdad
79HM+JW, University Str., Jadiriya, Baghdad, 10071, Iraq
mariam.a@cois.uobaghdad.edu.iq
ORCID ID: https://orcid.org/0009-0001-7522-0521

Shavkat Sharifkhujaev
D.Sc. (Economics),
Professor,
Department of International Economics,
University of World Economy and Diplomacy
54 Mustaqillik Str., Tashkent, 100007, Uzbekistan
shsharifxodjayev@uwed.uz
ORCID ID: https://orcid.org/0009-0009-9410-5121

Shirin Achilova
PhD (Economics),
Department of Trade Business,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
sh.achilova@tsue.uz
ORCID ID: https://orcid.org/0009-0004-8248-3428

Shahlo Ziyayeva
PhD (Economics),
Department of Trade Business,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
sh.ziyayeva@tsue.uz
ORCID ID: https://orcid.org/0009-0008-8003-0440

Fotima Ilxomjonova
PhD (Economics),
Department of Trade Business,
Tashkent State University of Economics
49 Islom Karimov Str., Tashkent, 100066, Uzbekistan
ilxomjonovafotima@tsue.uz
ORCID ID: https://orcid.org/0009-0008-7109-3343

Examining the role of human resources management with the company’s performance based on the mediating role of employee cooperation

Abstract. Today, in the global economy, human resources have replaced financial and physical capital as the most important capital, and the business environment based on human resource management (HRM) requires an approach that includes new intangible organizational assets such as human resource innovations, relationships with employees and customers. In an economy based on HRM, the role of intellectual capital in creating value for organizations is greater than the role played by physical capital; therefore, organizations need to identify and systematize their human and intellectual capital to gain a sustainable competitive advantage; therefore, the present study was conducted with the aim of investigating the relationship between HRM and financial performance based on the mediating role of employee loyalty in 2024. The present work is an applied study from the perspective of the purpose and a descriptive correlational study from the perspective of the data collection method. The statistical population of the present study was considered to be 345 employees of financial companies in Uzbekistan, the sampling method was group-based and the sample size was determined to be 125 through the Cochran formula. In order to collect desired data and measure the research variables, a standard questionnaire was used. The LISREL 8.8 software was used to analyze the data. The results of path analysis showed that HRM dimensions have a significant relationship with financial performance and employee relations. In other words, it was found that the use of strategic HRM practices and principles improves the performance of companies. Further, the results confirm that companies with pursue strategic HRM activities perform better than ones traditional. There is a strong relationship between human capital and company performance, which can be a key path in developing of companies.

Keywords: Human Capital; Company Performance; Business; Human Resource Management; HRM; Business Environment; Employee Cooperation; Intellectual Capital; Strategy

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the authors upon request.

DOI: https://doi.org/10.21003/ea.V215-09

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Received 27.03.2025
Received in revised form 20.04.2025
Accepted 26.04.2025
Available online 27.06.2025