The impact of primary sanctions on firms has been well-documented in the literature. However, the impact of secondary sanctions on businesses in third countries and their strategic responses has been under-researched. This study explores this issue by investigating Vietnamese timber exporters in the context of US-China economic sanctions. Taking a case study approach, interviews were conducted with key government and industry officials as well as firms in Vietnam. Using the key concepts from the realism school of thought and the stakeholder theory as the analytical lenses, we found that third countries’ businesses encountered both positive and negative impacts of the sanctions and employed four strategies, namely aligning, aspiring, influencing, and insulating to respond to the challenges and opportunities these sanctions presented. This study contributes to identifying the notion of temporality and explaining how and when third-country firms intertwine both reactive and anticipatory strategies.

中文翻译：

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“夹在中间”：中美经济制裁背景下越南木材出口商的影响和反应


文献中已经详细记录了主要制裁对企业的影响。然而，二级制裁对第三国企业的影响及其战略反应的研究还不够。本研究通过在中美经济制裁的背景下调查越南木材出口商来探讨这个问题。采用案例研究的方法，对越南主要政府和行业官员以及企业进行了采访。以现实主义学派和利益相关者理论的关键概念为分析视角，我们发现第三国企业遭遇了制裁的积极和消极影响，并采取了四种策略，即协调、渴望、影响和隔离。应对这些制裁带来的挑战和机遇。这项研究有助于确定暂时性的概念，并解释第三国企业如何以及何时将反应性战略和预期性战略交织在一起。