Stakeholder engagement strategies, national institutions, and firm performance: a configurational perspective
Journal
Strategic Management Journal
Subject
Strategy and Entrepreneurship
Publishing details
Authors / Editors
Gupta K;Crilly D;Greckhamer T
Biographies
Publication Year
2020
Abstract
Research documents the performance effects of attending to shareholders and treating employees well but underplays national differences in the relative power of labor and capital. We advance a configurational perspective that acknowledges the fit between stakeholder engagement, context, firm attributes and performance. As a cornerstone of this perspective, we develop a typology of stakeholder engagement strategies expressing how firms navigate the tension between conforming with local expectations—by prioritizing shareholders or employees, according to context—and being distinctive—by diverging from their peers. Analyzing a cross-national sample of firms from 2004 to 2011, we identify combinations of engagement strategies, firm attributes, and contexts linked to high performance. Our findings highlight the multiple context-dependent paths which link stakeholder engagement to high firm performance.
Available on ECCH
No