5. Discussion
The present study applied signaling theory to explore HRM signaling on websites and its effects. Using a longitudinal and multisource data set, AMOS results support the hypotheses that firms using commitment HRM signaled more HRM information on their websites; moreover, website signaling had a significant effect on recruitment trends as a before-experience outcome, and fully mediated the effect from commitment HRM on recruitment trends. However, employees' ratings as an after-experience outcome were not influenced by firms' signaling but only by the firms' actual commitment HRM.
The most notable contribution of the present research is that it expanded website-based studies to include the issues of HRM by utilizing signaling theory. The existing studies on e-commerce report the importance of developing high-quality websites to influence customers (e.g., Huizingh, 2000; Loiacono et al., 2007; Yoo & Donthu, 2001), and the present research applied the assertions to the case of HRM. In addition, the present research explored two distinct outcomes of HRM signaling on websites. While most of the signaling and website-based studies on e-commerce issues have exclusively focused on before-experience outcomes, such as intention to purchase a product, the present research provides support for the distinct effects of signaling on beforeand after-experience outcomes. The results of the present research provide empirical support for the signaling theory premise that individuals' experiences with a signaled product mitigate the prior-contract uncertainties, reduce information asymmetry (Liebeskind & Rumelt, 1989; Wells et al., 2011), and empower individuals to make informed decisions (Luo et al., 2012).
