Journal
JOURNAL OF BUSINESS RESEARCH
Volume 119, Issue -, Pages 652-662Publisher
ELSEVIER SCIENCE INC
DOI: 10.1016/j.jbusres.2019.02.038
Keywords
Stakeholder integration; Environmental sustainability orientation; Competitive intensity; Financial performance; Ghana
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Despite the growing research on the influence of stakeholder integration on organizational outcomes, our understanding of the specific firm-level conditions that may mediate the relationship between stakeholder integration and financial performance is lacking. Using primary data gathered from 233 small and medium-sized enterprises in Ghana, we found empirical support for our contention that the link between stakeholder integration and financial performance is mediated by a firm's environmental sustainability orientation (ESO). In addition, our study demonstrated that competitive intensity moderates the indirect relationship between stakeholder integration and financial performance in such a way that the indirect effect through environmental sustainability orientation is stronger for higher levels of industry competition. We discuss theoretical and managerial implications of these findings.
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