Explaining the Endurance of a Permanently Challenged Public‐Private Partnership: A Stakeholder Approach

Despite a growing literature on strategic partnerships, little attention has been paid to the way public‐private partnerships (PPPs) manage their relationships with their environments. Using a stakeholder approach, we specify how a large international public‐private partnership was able to endure over a period of 24 years in spite of a particularly challenging societal environment in a Latin American country. We identify sustainability mechanisms and discuss their implications for managing a PPP.