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Journal of Business Ethics

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13-09-2023 | Original Paper

How Do Foreign SMEs Mitigate Violent Conflict Risk by Doing Good? An Instrumental Stakeholder Theory Perspective

Authors: Yongyi Shou, Xueshu Shan, Jinan Shao, Kee-hung Lai, Qing Zhou

Published in: Journal of Business Ethics

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Abstract

Large foreign firms’ interventions in violent conflicts have drawn increasing research attention. Nonetheless, scant research has investigated how foreign small and medium-sized enterprises (SMEs), which have little capacity in peacebuilding, can protect themselves from violent conflict risk. Drawing upon the instrumental stakeholder theory (IST), this study explores two specific local community-oriented corporate social responsibility (CSR) practices (i.e., corporate philanthropy and workforce localization) as violent conflict risk buffering strategies for foreign SMEs. Further, we examine their varying effects in different institutional environments (i.e., host country media freedom and labor rights protection). Using data from a cross-country survey of Chinese foreign SMEs combined with archival data from multiple sources, we empirically confirm the attenuating effects of both corporate philanthropy and workforce localization on foreign SMEs’ violent conflict risk. Besides, we discover that host country labor rights protection strengthens the mitigation impact of workforce localization on violent conflict risk. Our study advances the literature on IST and CSR by revealing the risk mitigation mechanism of CSR activities for foreign SMEs and elucidating its institutional boundary conditions.

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Footnotes
1
The number of countries drops to 27 because of the lack of secondary data in 3 countries.
 
2
We used the data of World Factbook, World Press Freedom Index and the Global Rights Index in 2022 and the data of World Development Indicators in 2021.
 
3
0,1,2, 3, 4, 5 representing 5 plus, 5, 4, 3, 2, 1 in the Global Rights Index, respectively.
 
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Metadata
Title
How Do Foreign SMEs Mitigate Violent Conflict Risk by Doing Good? An Instrumental Stakeholder Theory Perspective
Authors
Yongyi Shou
Xueshu Shan
Jinan Shao
Kee-hung Lai
Qing Zhou
Publication date
13-09-2023
Publisher
Springer Netherlands
Published in
Journal of Business Ethics
Print ISSN: 0167-4544
Electronic ISSN: 1573-0697
DOI
https://doi.org/10.1007/s10551-023-05521-x