Do Managers’ Human Values Influence Shareholder Value? – Unlocking the Marekting ‘black Box’

The present study seeks to explore the association between managers' human values and shareholder value by examining the potential mediation effect of the marketing 'Black Box' – the until now uninvestigated interrelationships among strategic orientation, market orientation and marketing performance. The authors argue that managers' human values, which have been ignored in recent marketing literature, are now considered to be an important contributor to better understand marketing performance, and hence, to better demonstrate marketing's contribution to shareholder value. In this paper research propositions are suggested and an integrated conceptual framework is proposed.