Signaling legitimacy across institutional contexts—The intermediary role of corporate social responsibility rating agencies
Abstract
Research Summary Good corporate social responsibility (CSR) ratings can increase a firm's legitimacy and reduce its default risk. Yet, the interpretation of CSR varies between different countries. We investigate whether CSR ratings have a risk‐mitigating effect across different institutional contexts. We find that good CSR ratings have a general risk‐mitigating effect. Yet, we also find that the effect decreases when the rating agency is...
Paper Details
Title
Signaling legitimacy across institutional contexts—The intermediary role of corporate social responsibility rating agencies
Published Date
Aug 27, 2019
Journal
Volume
11
Issue
2
Pages
304 - 328
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