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The consideration of stakeholder concerns and its impact on corporate performance have received increasing attention in the strategic management literature. Existing research suggests that stakeholders have the means and power to influence corporate activities and support or harm business objectives. Hence, proactive involvement is seen as a valuable means to assure collaborative and prevent adverse stakeholder behavior. However, so far it has been difficult to identify a direct link between stakeholder involvement and corporate performance. The research focus of this thesis has therefore been shifted to the added value contributed to a specific discipline like crisis management theory. Today companies are confronted with constantly changing business environments and with an increasing number of unpredictable risks. This situation requires a new view on the nature of corporate crises and how they can be managed. Many researchers therefore argue that the behavior of investors, employees, and media plays a major role in avoiding or mitigating a corporate crisis situation. This research project is one of the first empirical analyses in this respect.

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Dr. Markus Wölbitsch, born 1982 in Vienna, graduated at Vienna University of Economics and Business and at Stockholm School of Economics. He further holds a PhD in General Management. Previously, he worked as a stakeholder expert and consultant for Brunswick Group and Edelweiss Consulting and is now engaged as change manager in Austrian politics.

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