Multilatinas’ legitimacy and social irresponsibility across institutional environments

Emerging country firms are often considered to suffer from lack of legitimacy due to poor reputation and institutional weaknesses in their home countries. Adoption of Corporate Social Responsibility (CSR) policies is seen as a way to close this gap; however, legitimacy stems also from less social irresponsibility. This paper uses evidence from a sample of large Brazilian and Mexican public firms (Multilatinas) to investigate the relationship...