Persian (Farsi) to English Other Economics

Corporate legitimacy has become a pressing issue inasmuch as the stakeholders’ perception of the role of business in society has been significantly redefined. New ethical expectations have risen along with a set of contingent social responsibilities that corporations are now asked to fulfill by the various groups of stakeholders within the society. As pointed out by Scherer & Palazzo, these growing expectations are in part explained with the process of globalization “which is eroding established institutions and procedures of governance” .