... with attempts to enhance corporate legitimacy. Originality/value This paper is one of the first to look at a change in the reporting on corporate culture within financial statements following the revisions to the Corporate Governance Code in 2018 from a qualitative and a statistical point of view...

... legitimacy pressures in corrupt environments than EM-MNEs and because EM-MNEs are more experienced than DC-MNEs in dealing with such corrupt environments. Practical implications While both EM-MNEs and DC-MNEs need to continue investing in corrupt countries to grow, they need to disclose CG-related...

.... Findings MSIs are beyond the “dichotomy” of two traditional approaches to CSR, namely, voluntary vs mandatory. However MSIs do not automatically ensure good performance. We should discuss not only the legitimacy of MSIs but external monitoring and evaluation systems for responsible companies in the market...

... of 1,211 deviations from the national code. Therefore, the explanations were classified for analysis, grouping them into three main categories and investigating the degree of imitation. Findings In total, 96 companies deviating from the Code (56.3 per cent) provided explanations as to their legitimacy...