The relationship between market orientation and performance is a cornerstone in the market orientation literature. However, few empirical studies applying objective performance measures raise concerns about whether or not the most market-oriented firms are the best performers. This article...

Agency theory emphasizes the role of ownership, control and incentives in encouraging managers to improve efficiency. Owners often tie managers to contracts that reduce conflict of interest between owners and managers. The differences between alternative business ownership structures have been...

This study investigates alternative governance forms in the hotel industry. Agency theory maintains that the need for control over service quality, financial risk, and the market environment affect the choice of governance form. Prior agency research emphasizes alternative governance structures...