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Building local legitimacy into corporate social responsibility: Gold mining firms in developing nations |
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| Authors: | Blair Gifford Andrew Kestler Sharmila Anand |
| Institution: | 1. The Business School and Center for Global Health, University of Colorado Denver, Campus Box 165, PO Box 173364, Denver, CO 80217-3364, USA;2. Division of Emergency Medicine, School of Medicine and Center for Global Health, University of Colorado Denver, USA;3. The Business School, University of Colorado Denver, USA;1. School of Management, Fudan University, Shanghai 200433, China;2. Department of Management, School of Business Administration, University of Miami, Coral Gables, FL 33124-9145, United States;3. Department of Management, School of Business Administration, University of Miami, Coral Gables, FL 33124, United States;1. AUT Business School, Auckland University of Technology, Private Bag 92006, Auckland 1142, New Zealand;2. School of Commerce, University of South Australia, 5001, Australia;1. Zhongnan University of Economics and Law, School of Accounting and Finance, Wuhan, China;2. Centre for Accounting, Governance and Sustainability (CAGS), University of South Australia Business School, University of South Australia, Adelaide, Australia |
| Abstract: | A transnational model of global strategy suggests that multi-national enterprises generally rely on proven global capabilities to adapt existing business models. Alternatively, this paper argues that the transnational model needs to be amended to allow for a hybrid approach that balances local and global strategies for multi-national gold (MNGs) firms working in developing nations. This is illustrated by Newmont Mining's efforts to develop local legitimacy through contributions to community development around its gold mining operations in Peru. We then compare the Newmont case with corporate social responsibility (CSR) at other MNGs. We have found that there appears to be an industry-wide institutional environment developing which includes local CSR projects in an attempt to balance the effects of capitalism between global markets and developing nations. |
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