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On the validity of subjective measures of company performance

Research output: Contribution to journalJournal article


  • Toby D Wall
  • Jonathan Michie
  • Malcolm Patterson
  • Stephen J Wood
  • Maura Sheehan
  • Chris W Clegg
  • Michael West
<mark>Journal publication date</mark>03/2004
<mark>Journal</mark>Personnel Psychology
Issue number1
Number of pages24
Pages (from-to)95-118
<mark>Original language</mark>English


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).