An institution-stakeholder framework for examining business relationship dynamics in a transforming Eastern Europe

Since the collapse of the USSR, most Central and East European countries have been integrated into global economic institutions through membership in the WTO and EU significantly changing the regional business climate. Through an in-depth analysis of a petroleum pipeline project initiated in Ukraine, a country on the EU's periphery, this research presents a framework based on institutional climate and stakeholder levers of influence for explaining the type of existing and evolving business relationships in the region. A relational matrix for Eastern Europe is developed with a set of guidelines for global firms and investors seeking markets in the region.