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Investigating the association of mission statement and performance using the component and stakeholder approaches in an emerging market

Published online by Cambridge University Press:  11 July 2022

Regina M. Lizares Open the ORCID record for Regina M. Lizares [Opens in a new window]
Regina M. Lizares*
Affiliation:
University of the Philippines, Quezon City, Philippines
*
Author for correspondence: Regina M. Lizares, E-mail: rmlizares@up.edu.ph
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Abstract

This study explores the mission statement–performance relationship of 247 Philippine-listed firms by employing the practical component and theoretical stakeholder approaches to studying mission statements. Using content and regression analyses, results indicate that: (1) the existence of a mission statement and the inclusion of customer in the statement are positively and significantly associated with performance; and (2) the inclusion of society and public image is negatively and significantly associated with performance. Aside from contributing to the growing body of theory-based, quantitative research on mission statements, this study offers another view within an emerging market context. Furthermore, it reinforces the value of having a mission statement and the importance of acknowledging salient and dominant stakeholders in the statement.

Keywords

Component approachcontent analysismission statementPhilippinesstakeholder approach
Type
Research Article
Information
Journal of Management & Organization , First View , pp. 1 - 25
Copyright
Copyright © The Author(s), 2022. Published by Cambridge University Press in association with the Australian and New Zealand Academy of Management

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