Stakeholder Network and Corporate Legitimacy: An Extended Analysis

Abstract

The stakeholder network is an important contributing factor in influencing corporations to be socially and ethically accountable. This chapter summarises some of the roles of the stakeholders discussed in the prior chapters with the help of an extended analysis of legitimacy theory. Members of the stakeholder network, in particular, the media and NGOs, are the focus of the discussion. The chapter concludes with a theoretical model derived from stakeholder network and legitimacy theory.