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Stakeholder engagement strategies, national institutions, and firm performance: a configurational perspective


Strategic Management Journal


Strategy and Entrepreneurship

Authors / Editors

Gupta K;Crilly D;Greckhamer T


Publication Year



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


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