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On the validity of subjective measures of company performance

WALL, TOBY D., MICHIE, JONATHAN, PATTERSON, MALCOLM, WOOD, STEPHEN J., SHEEHAN, MAURA, CLEGG, CHRIS W., WEST, MICHAEL·2004·Personnel Psychology
DOI 10.1111/j.1744-6570.2004.tb02485.x
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Abstract

Subjective measures of company performance are widely used in research and typically are interpreted as equivalent to objective measures. Yet, the assumption of equivalence is open to challenge. We compared the use of both types of measure in 3 separate samples. Findings were consistent in showing that: (a) subjective and objective measures of company performance were positively associated (convergent validity); (b) those relationships were stronger than those between measures of differing aspects of performance using the same method (discriminant validity); and (c) the relationships of subjective and objective company performance measures with a range of independent variables were equivalent (construct validity).

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  • Subjective and objective measures of company performance are positively linked at 0.52.

    “Finally, as evidenced by Wall et al. (2004), subjective and objective measures of company performance are positively linked at 0.52.”

    From Bridging the gap: why, how and when HR analytics can impact organizational performance (2022) · cites this paper as Wall et al. (2004)

  • Empirical research in entrepreneurship has validated the appropriateness of subjective venture performance measures and confirmed their significant association with objective metrics.

    “Empirical research in entrepreneurship has validated the appropriateness of using subjective measures of venture performance and confirmed their significant association with objective metrics (Dess and Robinson Jr., 1984;Stam and Elfring, 2008;Wall et al., 2004).”

    From Work hard or play hard: the effect of leisure crafting on opportunity recognition and venture performance (2023) · cites this paper as Wall et al., 2004

  • Self-reports for venture performance and opportunity recognition align with objective measures.

    “Regarding the measurement of venture performance and opportunity recognition, self-reports for these variables are commonly used because 1) they are consistent with objective measures (Engelen et al., 2015;Wall et al., 2004;Zahra et al., 2002)”

    From Work hard or play hard: the effect of leisure crafting on opportunity recognition and venture performance (2023) · cites this paper as Wall et al., 2004

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Authors
WALL, T. D., MICHIE, J., PATTERSON, M., WOOD, S. J., SHEEHAN, M., CLEGG, C. W., & WEST, M.
Affiliations
  • University of Sheffield (GB)
  • Birkbeck, University of London (GB)
  • University of Dallas (US)
  • Aston University (GB)
Corresponding author
WALL, TOBY D.
ORCID
Venue
Personnel Psychology
Publisher
Wiley
Published
2004-03
Volume
57
Issue
1
Pages
95-118
ISSN
  • 0031-5826 (ISSN-L)
  • 1744-6570
DOI
10.1111/j.1744-6570.2004.tb02485.x
OpenAlex
W2161639602
Cited by
1,121
References
41
Citations by year
2026: 72 · 2025: 44 · 2024: 45 · 2023: 41 · 2022: 51 · 2021: 70 · 2020: 68 · 2019: 78 · 2018: 49 · 2017: 66 · 2016: 54 · 2015: 45 · 2014: 53 · 2013: 64 · 2012: 54
FWCI
38.07
Type
journal article
Language
en
Open access
closed
Licence
onlinelibrary.wiley.com/termsAndConditions#vor (vor, 1246 d)
Locations
  • Personnel Psychology (publishedVersion)
  • Oxford University Research Archive (ORA) (University of Oxford) (acceptedVersion)
  • Lancaster EPrints (Lancaster University) (submittedVersion)
  • Leicester Research Archive (University of Leicester) (submittedVersion)
  • Aston Publications Explorer (Aston University) (submittedVersion)
  • University of Birmingham Research Portal (University of Birmingham) (submittedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Management Information Systems › Accounting and Organizational Management
  • Social Sciences › Decision Sciences › Management Science and Operations Research › Psychometric Methodologies and Testing
  • Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Human Resource and Talent Management
Keywords
subjective performance measures, objective performance measures, firm performance, convergent validity, discriminant validity, construct validity, measurement invariance, performance evaluation (human resources)

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