The Role of Shareholder Management and Market Management in the Enterprise Operations Management-Enterprise Performance Relationship

Abstract

This research aims to explore the moderating roles of shareholder management and market management in the relationship between operational management and firm performance. By conducting an empirical analysis of 1929 U.S. companies from 2015 to 2023, the results demonstrate that shareholder management capability and market management capability significantly moderate this relationship. Specifically, higher shareholder management capability optimizes firm performance by enhancing the efficiency of shareholder equity utilization and increasing decision-making flexibility, while higher market management capability improves performance by effectively responding to market fluctuations and demand changes. The findings support the financial management perspective of global strategy, emphasizing the importance of efficient financial resource management in international firms. This research provides new insights into the complex roles of shareholder management and market management in enhancing firm performance, particularly in the context of U.S. companies.