What is it about?
We investigate the impact of the origins of organizational legitimacy on systematic risk using a sample of 358 Brazilian companies between the years 2002 and 2007.
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Why is it important?
Our results indicate that only under apparently better quality corporate governance conditions, presence in premium listings, do corporate reputation and the board of directors reduce systematic risk. In addition, we show that the effect of reputation on risk is positively moderated by firm size.
Perspectives
This work began as a result of my doctoral thesis, whose results illustrate a unique moment in the history of corporate governance in Brazil.
Luciano Rossoni
Universidade de Brasilia
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This page is a summary of: How Does Legitimacy Operate in Emerging Capital Markets? Investigating the Moderating Effects of Premium Listings and Firm Size on Risk, Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l Administration, April 2018, Wiley,
DOI: 10.1002/cjas.1496.
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