Corporate governance, market orientation and performance of Iran’s upscale hotels

Soheil Kazemian, Hadrian Djajadikerta (), Jamaliah Said, Saiyidi Roni, Terri Trireksani and Md. Mahmudul Alam ()
Additional contact information
Soheil Kazemian: ECU - Edith Cowan University
Hadrian Djajadikerta: ECU - Edith Cowan University
Jamaliah Said: UiTM - Universiti Teknologi MARA [Shah Alam]
Saiyidi Roni: Murdoch University [Perth]
Terri Trireksani: Murdoch University [Perth]

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Abstract: Market orientation has been known as an efficient managerial tool to assist in sustaining the performance of organisations. Market orientation has three dimensions, namely customer orientation, competitor orientation and inter-function coordination. This paper evaluates how corporate governance influences the three dimensions of market orientation within Iran's upscale hotels. The impacts of the three dimensions of market orientation on the hotels' social and financial performance are also examined to determine if market orientation mediates the relationships between corporate governance and performance. Partial least squares structural equation modelling (PLS-SEM) is used to analyse the survey data collected from the executives of four- and five-star hotels in Mashhad, Iran. Results show that corporate governance positively influences the three dimensions of market orientation, while overall market orientation influences financial and social performance. Specifically, customer orientation and inter-function coordination significantly reinforce such mediation, whereas the influence of competitor orientation is limited to financial performance.

Keywords: Corporate governance; market orientation; financial performance; social performance; upscale hotels; tourism and hospitality; Iran; partial least squares; PLS (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-ara, nep-ban, nep-bec and nep-cfn
Note: View the original document on HAL open archive server: https://hal.science/hal-03538168
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Citations: View citations in EconPapers (1)

Published in Tourism and Hospitality Research, 2021, 21 (3), pp.344-357. ⟨10.1177/14673584211003644⟩

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Working Paper: Corporate governance, market orientation and performance of Iran's upscale hotels (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03538168

DOI: 10.1177/14673584211003644

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