The DOI matches its Crossref record; 34 of the 34 references it cites were found in a registry or an index.
TALKING TRASH: LEGITIMACY, IMPRESSION MANAGEMENT, AND UNSYSTEMATIC RISK IN THE CONTEXT OF THE NATURAL ENVIRONMENT.
Abstract
Applying institutional theory, we argue that environmentally legitimate firms incur less unsystematic stock market risk than illegitimate firms. Firms earn environmental legitimacy when their performance with respect to the natural environment conforms to stakeholders' expectations. This relationship was supported with the analysis of media reports and stock prices of 100 firms over a five-year period. The analysis also showed that firms with low environmental legitimacy can attenuate this effect by expressing commitment to the natural environment.
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“A number of empirical studies have used media coverage as a proxy for cognitive legitimacy, which supports our empirical approach (Deephouse, 1996;Bansal and Clelland, 2004;Sine, Haveman, and Tolbert, 2005;Sine, David, and Mitsuhashi, 2007).”
From Strategic Silence: Withholding Certification Status as a Hypocrisy Avoidance Tactic (2018) · cites this paper as Bansal and Clelland, 2004
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Metadata
- Authors
- Bansal, P., & Clelland, I.
- Affiliations
- Western University (CA)
- Radford University (US)
- ORCID
- Bansal, P.
- Venue
- Academy of Management Journal
- Publisher
- Academy of Management
- Published
- 2004-02-01
- Volume
- 47
- Issue
- 1
- Pages
- 93-103
- ISSN
- 0001-4273 (ISSN-L)
- 1948-0989
- OpenAlex
- W2056225081
- Cited by
- 1,717
- References
- 34
- Citations by year
- 2026: 135 · 2025: 157 · 2024: 123 · 2023: 122 · 2022: 120 · 2021: 103 · 2020: 127 · 2019: 93 · 2018: 96 · 2017: 73 · 2016: 65 · 2015: 96 · 2014: 85 · 2013: 63 · 2012: 56
- FWCI
- 49.68
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Academy of Management Journal (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Identity and Reputation
- Social Sciences › Business, Management and Accounting › Marketing › Environmental Sustainability in Business
- Keywords
- environmental legitimacy, idiosyncratic risk, stock market risk, impression management, institutional theory, environmental performance, stakeholder expectations, corporate environmental commitment, media coverage
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