Publication:
Populist Syndrome and Nonmarket Strategy

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dc.contributor.authorMarkus, Stanislav
dc.contributor.authorMartínez Suárez, Julio
dc.contributor.authorBlake, Daniel J.
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2024-07-08T13:14:10Z
dc.date.available2024-07-08T13:14:10Z
dc.date.issued2024
dc.description.abstractAlthough recognized as a defining feature of the current political era,populism and its implications for non-market strategy remain undertheorized. We offer a framework that (a) conceptualizes populism and its progression over time; (b) outlines the risks populism generates for firms; and (c) theorizes effective nonmarket strategies under populism. Our framework anchors the political risk profile of populism in three interdependent elements: anti-establishment ideology,de-institutionalization,and short-term policy bias. These elements jointly shape the policymaking dynamics and institutional risks for firms under populism. Our analysis shows how firms can calibrate two nonmarket strategies – political ties and corporate social responsibility – to mitigate populism-related risks. We specify how particular configurations of political ties and CSR activities,aimed at the populist leadership,bureaucrats,political opposition,and societal stakeholders,minimize risk under populism. Further,we theorize how the effectiveness of specific attributes of political ties and CSR – namely their relative covertness (more vs. less concealed) and their relative focus (narrowly vs. widely targeted) – varies as a function of firm type (insiders vs. outsiders) and the probability of populist regime collapse. Finally,we address how motivated reasoning may bias firms' assessments of regime fragility and resulting strategy choices. © 2022 The Authors. Journal of Management Studies published by Society for the Advancement of Management Studies and John Wiley & Sons Ltd.
dc.description.fundingtypeThe authors thank for their invaluable feedback the participants at seminars organized by the Non-Market Strategy Research Community; the GSB Stanford Political Economy Group; and the International Business Department at the University of South Carolina.
dc.description.keywordcorporate political activity
dc.description.keywordnonmarket strategy
dc.description.keywordpolitical institutions
dc.description.keywordpolitical risk
dc.description.keywordpopulism
dc.description.peerreviewedyes
dc.description.statusPublished
dc.formatapplication/pdf
dc.identifier.citationBlake, D.J., Markus, S. and Martinez-Suarez, J. (2024), Populist Syndrome and Nonmarket Strategy. J. Manage. Stud., 61: 525-560. https://doi.org/10.1111/joms.12859
dc.identifier.doihttps://doi.org/10.1111/joms.12859
dc.identifier.issn222380
dc.identifier.officialurlhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85137431989&doi=10.1111%2fjoms.12859&partnerID=40&md5=cf2daa564caaaa5c0640694ebf463621
dc.identifier.urihttps://hdl.handle.net/20.500.14417/2999
dc.issue.number2
dc.journal.titleJournal of Management Studies
dc.language.isoen
dc.page.final560
dc.page.initial525
dc.page.total0
dc.publisherJohn Wiley and Sons Inc
dc.relation.departmentStrategy
dc.relation.entityIE University
dc.relation.schoolIE Business School
dc.rightsAttribution-NonCommercial 4.0 International
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc/4.0/
dc.subjectcorporate political activity; nonmarket strategy; political institutions; political risk; populism
dc.subject.keywordcorporate political activity
dc.subject.keywordnonmarket strategy
dc.subject.keywordpolitical institutions
dc.subject.keywordpolitical risk
dc.subject.keywordpopulism
dc.titlePopulist Syndrome and Nonmarket Strategy
dc.typeinfo:eu-repo/semantics/article
dc.version.typeinfo:eu-repo/semantics/publishedVersion
dc.volume.number61
dspace.entity.typePublication
person.identifier.scopus-author-id56016542600
person.identifier.scopus-author-id23110797300
person.identifier.scopus-author-id57879107600
relation.isAuthorOfPublication3e43dfda-4510-4887-b8d5-72900cba7590
relation.isAuthorOfPublication.latestForDiscovery3e43dfda-4510-4887-b8d5-72900cba7590
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