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Addressing the adverse effects of entrepreneurial failure stigma and establishing the subsequent entrepreneurship legitimacy of new ventures are crucial for reinvigorating entrepreneurial endeavors. This paper investigated the implementation of impression-management strategies for mitigating the adverse effects of the stigma associated with entrepreneurial failure on the legitimacy of subsequent entrepreneurial activities.

Drawing on impression-management theory and legitimacy theory, we conducted three experimental studies to explore the impact of impression-management strategies of entrepreneurial-failure stigma on the legitimacy of subsequent entrepreneurship. Additionally, the role of stakeholders’ forgiveness as a mediating factor and how the specific type of entrepreneurial failure stigma (attributable vs non-attributable) moderates these effects were analyzed.

The results from Studies 1 and 2 show that implementing impression-management strategies positively contributes to sustaining the legitimacy of subsequent entrepreneurial endeavors in failed new ventures. Assertive strategies demonstrate a more effective impact on enhancing the legitimacy of subsequent entrepreneurship than defensive impression management strategies. In addition, stakeholders’ forgiveness plays a mediating role in the relationship between impression-management strategies and subsequent entrepreneurship legitimacy. The results of Study 3 demonstrate that the type of stigma associated with entrepreneurial failure moderates the impact of impression-management strategies on the legitimacy of subsequent entrepreneurship. In situations where the stigma is attributable, implementing only assertive strategies is adequate to yield favorable results. However, in situations where the stigma is non-attributable, it is essential to implement both defensive and assertive strategies to effectively strengthen subsequent entrepreneurship legitimacy.

The findings make a valuable contribution to the existing literature on the recovery from entrepreneurial failure, and they also offer practical strategies for new ventures to adeptly handle the stigma of failure and resume their entrepreneurial endeavors.

Corporate social responsibility (CSR) practices frequently result in increased costs for Chinese international contractors (CICs), where profitability is the primary objective; therefore, internal corporate drivers and external pressures play a crucial role in encouraging them to engage in sustainable CSR practices. This study systematically examines the dynamic impact of internal and external stakeholders on the CSR practices of CICs.

This study adopted a structural equation model (SEM) to identify and validate a correlation between stakeholders and CSR practices. Standardized causal coefficients estimated in SEM were used to construct a fuzzy cognitive map (FCM) model to illustrate the effect of stakeholders on CSR practices with linkage direction and weights. Predictive, diagnostic, and hybrid analyses were performed to dynamically model the variation in stakeholders on the evolution of CSR practices.

The empirical results demonstrate that (1) employee participation in CSR has the greatest impact on CSR practices, followed by CSR strategies, partner and customer expectations, and finally government regulations. (2) In the early stage of CSR fulfillment, CSR strategies have the greatest influence on CSR practices; in the later stage of CSR fulfillment, employee participation in CSR has the greatest influence on CSR practices. (3) In the long run, the most effective and economical integrated interventions are those that address employee participation in CSR, partner expectations and customer expectations, and intervention in CSR strategies is needed if the level of CSR practice needs to be improved in the short term.

This study contributes to the research on the influence mechanisms of CSR practices of CICs and systematically analyzes their dynamic influence on CSR practices of CICs from the perspective of stakeholders.