Establishing legitimacy in emerging markets
An empirical comparison of the Warsaw, Budapest, and Prague stock exchanges
Bibliographic Data
| ID | 12626100 |
|---|---|
| Authors | Stephen S Standifird (Western Washington University, corresponding author), Marc Weinstein (0000-0002-0613-5737, University of Oregon) |
| Year | 2002 |
| Volume | 4 |
| Issue | 2 |
| Pages | 143-163 |
| Publication date | 2002-06-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Comparative Policy Analysis Research and Practice (JOURNAL) |
| Journal identifiers | ISSN: 1387-6988 • E-ISSN: 1572-5448 |
| Publisher | Routledge (PUBLISHER • GB) |
| DOI | 10.1080/13876980208412676 |
| OpenAlex | W4246911942 |
| Language | EN |
| References cited | 20 |
The purpose of this analysis is to investigate the influence of economic and sociological institutional constraints in determining the legitimacy of firms. This study specifically looks at the importance of regulatory and transnational institutional constraints for firms traded on the Warsaw, Budapest, and Prague stock exchanges. The results indicate that a well‐regulated securities environment has a direct impact on the ability of firms to establish organizational legitimacy. We also find that, lacking local regulation, firms can increase their legitimacy by adopting international accounting standards. Thus, we find support for the assertion that both economic and sociological “solutions” to the problem of legitimacy are appropriate for firms operating in an emerging market
Assertion · Business · Economic system · Economics · Emerging markets · Legitimacy · Market economy · Political science · Stock (firearms · Stock exchange · Stock market · Auditing, Earnings Management, Governance · Corporate Finance and Governance · Corporate Social Responsibility Reporting · Law · Accounting · Finance
Research in Organizational Behavior
Institutions and organizations
The economic structure of corporate law
The New Institutionalism in Organizational Analysis
Reputation and corporate strategy
The Social Construction of Reputation
The Theory of Economic Regulation
Managing Legitimacy
Institutions, Institutional Change and Economic Performance
Law and Finance
The Causal Texture of Organizational Environments
The social construction of reality
The Role of Institutionalization in Cultural Persistence
The Iron Cage Revisited
Institutions
| Highly cited | No |
|---|