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
Citations
Cites
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Meyer, J. W., & Rowan, B. (1977) · American Journal of Sociology · doi:10.1086/226550 · Cited by 28,308
Managing Legitimacy: Strategic and Institutional Approaches
Suchman, M. C. (1995) · The Academy of Management Review · doi:10.2307/258788 · Cited by 19,903
EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK*
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External Control of Organizations: Resource Dependence Perspective
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Efficient capital markets: A review of theory and empirical work
Fama, E. F. (1970) · The Journal of Finance · doi:10.2307/2325486 · Cited by 13,635
The New Institutionalism in Organizational Analysis.
Andrews, A. O., Powell, W. W., & DiMaggio, P. J. (1993) · Administrative Science Quarterly · doi:10.2307/2393344 · Cited by 8,261
The New Institutionalism in Organizational Analysis
Powell, W. W., & DiMaggio, P. J. (1991) · University of Chicago Press eBooks · doi:10.7208/chicago/9780226185941.001.0001 · Cited by 7,617
Brown, S. J., & Warner, J. B. (1985) · Journal of Financial Economics · doi:10.1016/0304-405x(85)90042-x · Cited by 6,488
WHY COMPANIES GO GREEN: A MODEL OF ECOLOGICAL RESPONSIVENESS.
Bansal, P., & Roth, K. (2000) · Academy of Management Journal · doi:10.2307/1556363 · Cited by 4,020
Self-citationInteraction Effects in Multiple Regression.
Richardson, S. C., Jacard, J., Turrisi, R., & Wan, C. K. (1991) · The Statistician · doi:10.2307/2348747 · Cited by 3,309
Cited by
Clarkson, P. M., Li, Y., Richardson, G. D., & Vasvari, F. P. (2008) · Accounting, Organizations and Society · doi:10.1016/j.aos.2007.05.003 · Cited by 3,570
Psychological Perspectives on Legitimacy and Legitimation
Tyler, T. R. (2006) · Annual Review of Psychology · doi:10.1146/annurev.psych.57.102904.190038 · Cited by 2,381
Corporate social responsibility and shareholder reaction: The environmental awareness of investors
Flammer, C. (2013) · Academy of Management Journal · doi:10.5465/amj.2011.0744 · Cited by 1,744
Scrutiny, Norms, and Selective Disclosure: A Global Study of Greenwashing
Marquis, C., Toffel, M. W., & Zhou, Y. (2016) · Organization Science · doi:10.1287/orsc.2015.1039 · Cited by 1,680
The Means and End of Greenwash
Lyon, T. P., & Montgomery, A. W. (2015) · Organization & Environment · doi:10.1177/1086026615575332 · Cited by 1,636
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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- CoChat. (2026). Citation check: TALKING TRASH: LEGITIMACY, IMPRESSION MANAGEMENT, AND UNSYSTEMATIC RISK IN THE CONTEXT OF THE NATURAL ENVIRONMENT. https://app.cochat.ai/papers/10.2307/20159562
- The paper
- Bansal, P., & Clelland, I. (2004). TALKING TRASH: LEGITIMACY, IMPRESSION MANAGEMENT, AND UNSYSTEMATIC RISK IN THE CONTEXT OF THE NATURAL ENVIRONMENT. Academy of Management Journal. https://doi.org/10.2307/20159562
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.