Does Corporate Social Responsibility Affect to Legitimacy of the Companies? Analysis of Spain and Mexico through the Case Method

Sandra Escamilla Solano; Paola Plaza Casado; Evaristo Galeana Figueroa; Dora Aguilasocho Montoya

doi:10.3926/hdbr.248

Does Corporate Social Responsibility Affect to Legitimacy of the Companies? Analysis of Spain and Mexico through the Case Method

Authors

Sandra Escamilla Solano Rey Juan Carlos University. Spain. http://orcid.org/0000-0001-9150-9467
Paola Plaza Casado Rey Juan Carlos University. Spain. http://orcid.org/0000-0002-8869-6123
Evaristo Galeana Figueroa Universidad Michoacana de San Nicolás de Hidalgo. Mexico. http://orcid.org/0000-0002-6365-9975
Dora Aguilasocho Montoya Universidad Michoacana de San Nicolás de Hidalgo. Mexico.

DOI:

https://doi.org/10.3926/hdbr.248

Keywords:

Legitimacy, Corporate Social Responsibility, Market Value, Spain, Mexico, Case Method

Abstract

The highly competitive environment in which companies move means that they are constantly searching for initiatives that increase their legitimacy. The consideration of corporate social responsibility within the strategy of the company, means that it can be considered as a vehicle to legitimize companies in the face of society. Therefore, this research aims to analyze the relationship between corporate social responsibility and social legitimacy. For this, a case study will be carried out on 4 companies (three Spanish and one Mexican) included in the MERCO Responsibility and Corporate Governance Ranking, Fortune World’s Most Admired Companies and Fortune Global 500 for the period 2017-2018. The research reveals the existence of a positive relationship between social legitimacy and corporate social responsibility with business results, obtaining as a main conclusion that legitimacy represents within the company an intangible and key resource that must be managed so as not to lose it.

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Author Biographies

Sandra Escamilla Solano, Rey Juan Carlos University. Spain.

Lecturer.

Paola Plaza Casado, Rey Juan Carlos University. Spain.

Lecturer.

Evaristo Galeana Figueroa, Universidad Michoacana de San Nicolás de Hidalgo. Mexico.

Associate Professor.

Dora Aguilasocho Montoya, Universidad Michoacana de San Nicolás de Hidalgo. Mexico.

Associate Professor.

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Published

2019-07-15

How to Cite

Escamilla Solano, S., Plaza Casado, P., Galeana Figueroa, E., & Aguilasocho Montoya, D. (2019). Does Corporate Social Responsibility Affect to Legitimacy of the Companies? Analysis of Spain and Mexico through the Case Method. UNIE Business Research, 8(2), 189–205. https://doi.org/10.3926/hdbr.248

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Issue

Vol. 8 No. 2 (2019): Special Issue

Section

Articles

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