Stakeholder Management and Resource Complementarities: Firm Performance amid Systemic Crises

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Resilience increases when stakeholder management aligns with firms' financial resources and crisis exposure.
Finding indicates legitimacy plays a critical role during high crisis exposure, improving stakeholder coordination.
Employing fuzzy-set qualitative comparative analysis, 2727 US firms were examined during the COVID-19 pandemic.
The study suggests various effective management configurations for different levels of crisis exposure.

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Analysis shows effective stakeholder management enhances performance in firms, indicating resilience amid crisis complexity.

Gu et al. (2025) studied this question.

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