Assessing the effects of board structure and diversity on the performance and capability of companies in Iran: A case study of marketing capability in companies listed on the Tehran Stock Exchange
Subject Areas :
Journal of Investment Knowledge
sara eftekharpour
1
,
younos vakil alroaia
2
,
farshad faezi
3
1 - Ph.D. Student in Business Management, Semnan Branch, Islamic Azad University, Semnan, Iran.
2 - Associate Prof. and chairman, Entrepreneurship and commercialization research center, Department of Management, Semnan Branch, Islamic Azad University, Semnan.
3 - Associate Professor of Management, Semnan Branch, Islamic Azad University, Semnan.
Received: 2021-08-07
Accepted : 2021-08-22
Published : 2022-12-22
Keywords:
marketing capability,
board diversity,
Board structure,
Iran,
Food Companies,
Abstract :
Marketing capability is seen as a competitive advantage for the company and reflects a company's specific ability to identify target markets and adopt strategies that maintain a relationship with loyal customers. Board Diversity and board structure is the factors that affect the marketing capability of the company. Therefore, using the data of companies active in food sector in the period 1389-1399, the effect of diversity and board structure on the marketing capability has been studied. Based on the research results, the board structure and diversity have a positive and significant effect on the marketing capability of the studied companies. Because the more non-executive members (or female board members) to the total number of board members, the better the company's performance and marketing capabilities will be. Also, the board of director's size, the firm's assets growth and the firm's age have a positive and significant effect on the marketing capability of companies. The variables of environmental forgiveness (industry growth) and the variables of turmoil (revenue fluctuations in the firm and industry) also had a positive, negative and significant effect on the marketing capability of the company, respectively. In addition, the interactive effects of the board structure with the turbulence and environmental forgiveness on the firm's marketing capability were negative and positive, respectively. In other words, the structure and board diversity can have a greater effect on the marketing capability of the company when the company's revenue fluctuations are low and environmental forgiveness and industry growth rate are higher.
References:
اصلانی و همکاران.(1399) . بررسی تأثیر قابلیتهای بازاریابی بر عملکرد شرکت با نقش تعدیلگر جهت گیری بازار، بازاریابی استراتژیک و قدرت سازمانی(مورد مطالعه شرکت مینو). رویکردهای پژوهشی نوین در مدیریت و حسابداری. شماره 37 (جلد هفتم). صص24-46
اورک، فرزانه و بابایی زکلیکی، محمدعلی. (1394). ارزیابی ارتباط بین قابلیتهای بازاریابی و عملکرد سازمان در شرکت های تولید کننده موادغذایی در شهر تهران. مدیریت برند جلد2 شماره2، صص147-176.
حسین زاده و همکاران.(1399). تأثیر قابلیتهای بازاریابی خارجی و درگیری ذهنی مشتریان بر عملکرد شرکت با نقش میانجی نوآوری محصول و استراتژی انعطاف‌پذیر. مجله مدیریت بازاریابی. دوره 15، شماره 46. صص15-31
دهدشتی شاهرخ، زهره، ناطق، محمد و احسانی، راضیه. (1396). تبیین رابطة قابلیتهای بازاریابی و عملکرد مالی سازمان. مدیریت بازرگانی . سال9.شماره1، صص 103-128
زهیری، حسین، امیرحسینی، زهرا و فریدچهر، الهام. (1395). تاثیر قابلیتهای بازاریابی، نوآوری و گرایش کارآفرینانه از طریق متغیر شبکه اجتماعی برعملکرد (مطالعه موردی بانک قوامین). خط‌مشی‌گذاری عمومی در مدیریت، سال 7، شماره3، صص 45-60
سپاسی، سحر و عبدلی، لیلا.(1395). تأثیرات حضور زنان در هیات مدیره بر ارزش شرکت و عملکرد مالی، پژوهش های حسابداری مالی و حسابرسی، سال8، شماره29، صص 81-93
گلشاهی، بهنام و زارعی، عظیم. (1395). شناسایی قابلیتهای بازاریابی برون‌گرای مؤثر در عملکرد تولید محصول جدید: نقش تعدیل‌گری ساختار مشتری‌بنیاد. تحقیقات بازاریابی نوین سال6، شماره3، صص 109-126
عماری، حسین و امیرحصاری، سارا. (1399) . تاثیر قابلیت های بازاریابی بر عملکرد بینالمللی اقتصاد در گروه خودروسازی ایران خودرو. رهیافتی در مدیریت بازرگانی.شماره 1 (14). صص 6 - 19
محمدیان، محمود، افتخار‌پور، سارا. (1397). شناسایی و اولویت‌بندی عوامل مؤثر بر قابلیت بازاریابی پویا با رویکرد سلسله مراتبی. فصلنامه مدیریت توسعه و تحول، شماره32، صص 19-24
نمکیان، مجید و کهریزی، امیدعلی.(1399) . تأثیر قابلیت های ضروری بازاریابی بر عملکرد شرکتهای دانش بنیان. فصلنامه تخصصی رشد فناوری. شماره63. صص38-56
نوع پسنداصیل، سید محمد، رمضان پور، اسماعیل، عطاری اصل، پیمان.(1395)، تأثیر قابلیت بازاریابی، نوآوری و یادگیری بر عملکرد سازمان (مطالعه موردی:پتروشیمی تبریز). مدیریت بهره‌وری، شماره36،صص95-124.
Agyapong, A., Essuman, D. & Yeboah, L. A. K. (2019). Performance implications of strategic planning and marketing capability in micro and small businesses in an emerging African economy: a contingent resource-based view. Journal of Small Business & Entrepreneurship, 4 (31): 1-20.
Angulo-Ruiz, F., Donthu, N., Prior, D., & Rialp, J. (2014). The financial contribution of customer-oriented marketing capability. Journal of the Academy of Marketing Science, 42(4), 380–399.
Bear, S., Rahman, N., & Post, C. (2010). The impact of board diversity and gender composition on corporate social responsibility and firm reputation. Journal of Business Ethics, 97(2), 207–221.
Callahan, W. T., Millar, J. A., & Schulman, C. (2003). An analysis of the effect of management participation in director selection on the long-term performance of the firm. Journal of Corporate Finance, 9(2), 169–181.
Campbell, K., & Mínguez-Vera, A. (2008). Gender diversity in the boardroom and firm financial performance. Journal of Business Ethics, 83(3), 435–451.
Chang, W., Park, J. E., & Chaiy, S. (2010). How does CRM technology transform into organizational performance? A mediating role of marketing capability. Journal of Business Research, 63(8), 849–855.
Combs, J. G., Ketchen, D. J., Perryman, A. A., & Donahue, M. S. (2007). The moderating effect of CEO power on the board composition–firm performance relationship. Journal of Management Studies, 44(8), 1299–1323.
Erhardt, N. L., Werbel, J. D., & Shrader, C. B. (2003). Board of director diversity and firm financial performance. Corporate Governance: An International Review, 11(2), 102–111.
Germann, F., Ebbes, P., & Grewal, R. (2015). The chief marketing officer matters!”. Journal of Marketing, 79(3), 1–22.
Harjoto, M., Laksmana, I., & Lee, R. (2015). Board diversity and corporate social responsibility. Journal of Business Ethics, 132(4), 641–660.
Harris, M., & Raviv, A. (2010). Control of corporate decisions: Shareholders vs. management. The Review of Financial Studies, 23(11), 4115–4147.
Keats, B. W., & Hitt, M. A. (1988). A causal model of linkages among environmental dimensions, macro organizational characteristics, and performance. Academy of Management Journal, 31(3)
Mishra, S., & Modi, S. B. (2016). Corporate social responsibility and shareholder wealth: The role of marketing capability. Journal of Marketing, 80(1), 26–46.
Mithas, S., Krishnan, M. S., & Fornell, C. (2005). Why do customer relationship management applications affect customer satisfaction?”.Journal of Marketing, 69(4), 201–209.
Morgan, N. A., Clark, B. H., & Gooner, R. (2002). Marketing productivity, marketing audits, and systems for marketing performance assessment: Integrating multiple perspectives. Journal of Business Research, 55(5), 363–375.
Murphy, S. A., & McIntyre, M. L. (2007). Board of director performance: A group dynamics perspective. Corporate Governance: The International Journal of Business in Society, 7(2), 209–224.
Rao, K., & Tilt, C. (2016). Board composition and corporate social responsibility: The role of diversity, gender, strategy and decision making. Journal of Business Ethics, 138(2), 327–347.
Samiee, S. (2008). Global marketing effectiveness via alliances and electronic commerce in business-to-business markets. Industrial Marketing Management, 37(1), 3–8.
Sun et al.(2020).Board structure and firm capability: An environment-embedded relationship between board diversity and marketing capability. Industrial Marketing Management(90) .pp. 14–29
Theodosiou, M. ٫ Kehagias, J. & Katsikea, E. (2012). Strategic orientations, marketing capabilities and firm performance: An empirical investigation in the context of frontline managers in service organizations. Industrial Marketing Management, PP 1-13.
Tuggle, C. S., Schnatterly, K., & Johnson, R. A. (2010). Attention patterns in the boardroom: How board composition and processes affect discussion of entrepreneurial issues. Academy of Management Journal, 53(3), 550–571.
Vicente, M., Jose Atunes, M. & Malva, M. (2016). The impact of marketing capabilities, technological capabilities and organizational innovation on export performance. Universidade Europeia, 328-337.
Vorhies, D. W., & Morgan, N. A. (2005). Benchmarking marketing capabilities for sustainable competitive advantage. Journal of Marketing, 69(1), 80–94.
Wang, T., & Hsu, C. (2013). Board composition and operational risk events of financial institutions. Journal of Banking & Finance, 37(6), 2042–2051.
Wilden, R., & Gudergan, S. P. (2015). The impact of dynamic capabilities on operational marketing and technological capabilities: Investigating the role of environmental turbulence. Journal of the Academy of Marketing Science, 43(2), 181–199.
Wu, F., Yeniyurt, S., Kim, D., & Cavusgil, S. T. (2006). The impact of information technology on supply chain capabilities and firm performance: A resource-based view. Industrial Marketing Management, 35(4), 493–504.
Zhang, L. (2012). Board demographic diversity, independence, and corporate social performance. Corporate Governance: The International Journal of Business in Society, 12(5), 686–700.
Zhang, T. C., Jahromi, M. F., & Kizildag, M. (2018). Value co-creation in a sharing economy: The end of price wars? International Journal of Hospitality Management, 71, 51–58.
Zhou, K. Z., & Li, C. B. (2010). How strategic orientations influence the building of dynamic capability in emerging economies. Journal of Business Research, 63(3), 224–231.
Zona, F. (2014). Board leadership structure and diversity over CEO time in office: A test of the evolutionary perspective on Italian firms. European Management Journal, 32(4), 672–681.
_||_
