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Extending the Frontiers of Responsible Corporate Governance: Exploring Legitimacy Issues of Multi-stakeholder Initiatives

In: Responsible Corporate Governance

Author

Listed:
  • Lars Moratis

    (NHTV Breda University of Applied Sciences, Antwerp Management School)

Abstract

As a novel way of collaborative governance governments, non-governmental organizations and companies increasingly coordinate the design, implementation and monitoring of rules and standards in multi-stakeholder initiatives (MSIs). Since these private governance arrangements are not equally well-embedded in established democratic mechanisms as regulation through governmental bodies, it is important to investigate their legitimacy. This chapter aims to critically investigate, refine, and extend the criteria for assessing the legitimacy of MSIs in the realm of CSR as posited by scholars Sébastien Mena and Guido Palazzo. While the authors shed light on MSI legitimacy by distinguishing between input and output legitimacy, they seem to ignore several relevant legitimacy aspects and adopt a classification that may obscure important characteristics of MSI legitimacy. This chapter suggests several refinements and extensions to the Mena and Palazzo framework by arguing for the inclusion of the dimension of throughput legitimacy and proposing an adjusted set of MSI legitimacy criteria. Several of the arguments made in this chapter are illustrated by looking at ISO 26000, the global standard for social responsibility.

Suggested Citation

  • Lars Moratis, 2017. "Extending the Frontiers of Responsible Corporate Governance: Exploring Legitimacy Issues of Multi-stakeholder Initiatives," CSR, Sustainability, Ethics & Governance, in: Maria Aluchna & Samuel O. Idowu (ed.), Responsible Corporate Governance, pages 113-129, Springer.
    • Handle: RePEc:spr:csrchp:978-3-319-55206-4_7
    DOI: 10.1007/978-3-319-55206-4_7
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