Essays on supplier responsiveness and buyer firm value - Nyenrode ...

is that, when developing marketing strategy, they have to adopt periscopic perspectives
beyond their own cultural spheres.
Chapter 4 is motivated by the need to examine whether different performance
measures would reinforce each other in the model outlined in Chapter 2. Managers
habitually trust their heuristic judgments. The extant literature on the accuracy of such
judgments is mixed. Such judgments are often formed as a result of cumulative
background information, both objective and subjective. We anticipated that, since
strategic relationships involve a great degree of cooperation, a manager’s assessment
would be aligned with objective performance measures. However, we found that
subjective and objective performance measures did not provide similar results.
Chapter 5 is our final chapter of this dissertation and commences by presenting a
short synopsis of the three studies in the dissertation. In the following section there is a
discussion of the general conclusions derived from this research. And next the theoretical
implications of the studies are discussed, and the chapter ends with concluding remarks.
Theoretical Contributions
In chapter 2 we shed new light on the market orientation and risk relationship and build a
comprehensive model that enunciates the relationship between supplier responsiveness,
IdRR, and buyer firm value. Our findings challenge the status quo belief that market
orientation is an inherently risky endeavor by providing evidence that supplier
responsiveness negatively influences IdRR. Moreover, we contribute to the
marketing domain by extending the scope of the current market orientation models,
which to date have mostly focused on the intra-organizational perspective. Furthermore,
the extant literature has not addressed the issue of incorporating the
customer’s perspective and the customer’s firm value in market orientation
and performance models and we contribute to the literature by incorporating these
perspectives.
Second, we introduce IdRR as a new construct in the literature and an important
mediator of the supplier responsiveness and buyer firm value. Using IdRR, academics and
businesses will be able to estimate whether market orientation increases or reduces the
relational risk between a supplier and buyer. Furthermore, at a time when there is an increased
need for accountability within firms, IdRR as a measure allows managers to communicate
some of the value that the relationship has accrued due to market orientation. Hence, by using
IdRR to explain the benefits of market orientation, it adds clarity to the returns on investment
from market orientation.
Third, we provide evidence that market orientation is a single unified general construct
and not three separate general factors. The market orientation construct has lacked discriminant
validity in some important studies, but scholars still continue to model it as sub-components
rather than a general factor (Kohli et al., 1993; Narver & Slater, 1990). In the current study, we
revisited it as a general factor and we have found that market orientation or supplier
responsiveness is a single factor rather than three distinct components.
Fourth, we find that buyer satisfaction is not related to a buyer’s firm value in the U.S.
In the extant literature, scholars so far have focused on the buyer satisfaction and supplier
business performance relationship (Gyskens et al., 1999). Despite this focus, scholars have
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