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Do Corporate Carbon Policies Enhance Legitimacy? A Social Media Perspective

Federico Galán-Valdivieso (), Laura Saraite-Sariene (), Juana Alonso-Cañadas () and María del Carmen Caba-Pérez ()
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Federico Galán-Valdivieso: Mediterranean Research Center of Economy and Sustainable Development (CIMEDES), Department of Economics and Business, University of Almería, Ctra. Sacramento s/n, La Cañada de San Urbano, 04120 Almería, Spain
Laura Saraite-Sariene: Mediterranean Research Center of Economy and Sustainable Development (CIMEDES), Department of Economics and Business, University of Almería, Ctra. Sacramento s/n, La Cañada de San Urbano, 04120 Almería, Spain
Juana Alonso-Cañadas: Mediterranean Research Center of Economy and Sustainable Development (CIMEDES), Department of Economics and Business, University of Almería, Ctra. Sacramento s/n, La Cañada de San Urbano, 04120 Almería, Spain
María del Carmen Caba-Pérez: Mediterranean Research Center of Economy and Sustainable Development (CIMEDES), Department of Economics and Business, University of Almería, Ctra. Sacramento s/n, La Cañada de San Urbano, 04120 Almería, Spain

Sustainability, 2019, vol. 11, issue 4, 1-23

Abstract: Stakeholders are increasingly concerned about climate change and companies’ commitment to anticipate future carbon-related risks, and grant or withdraw support depending on their perceptions of firms’ carbon performance. The aim of this research is to analyse which carbon-related factors influence stakeholders with regards to the legitimacy-granting process. The sample in this study includes 146 firms from North America and Europe committed to carbon mitigation, whose legitimacy is measured via social media interactions. Findings show that setting a corporate carbon policy and disclosing an internal price of carbon are positively linked to legitimacy, while other factors are negatively or not related to legitimacy. This study makes theoretical contributions, proposing a metric based on social media stakeholder engagement to measure corporate legitimacy, as well as practical implications, revealing which carbon information shapes stakeholders’ perception of firms’ climate performance, and opening new possibilities for future research.

Keywords: corporate carbon policy; carbon management; stakeholder engagement; Carbon Disclosure Project; Facebook; corporate legitimacy (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:11:y:2019:i:4:p:1161-:d:208235

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