Stakeholder Sentiment, Problemistic Search, and Firm Risk Taking: A Behavioral Investigation

Steffen Nauhaus, Johannes Luger, Sebastian Raisch

Research output: Chapter in Book/Report/Conference proceedingConference abstract in proceedingsResearchpeer-review


Drawing on problemistic search arguments, we suggest that stakeholder sentiments affect firms' search and risk taking. Specifically, similar to the logic underlying performance feedback, we suggest that a shortfall in stakeholder sentiments from historically and socially derived aspirations, affects firms' decision making. In comparison to financial performance indicators, we suggest that stakeholder sentiments describe a more comprehensive picture about the multi-dimensionality of managers' goal perspective and, hence, adds value to our current understanding of problem driven search.
Original languageEnglish
Title of host publicationAcademy of Management Proceedings 2019
EditorsGuclu Atinc
Number of pages1
Place of PublicationBriarcliff, NY
PublisherAcademy of Management
Publication date2019
Publication statusPublished - 2019
SeriesAcademy of Management Proceedings

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