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Reputation and Political Legitimacy: ITT in Chile, 1927–1972

Published online by Cambridge University Press:  18 December 2013

Marcelo Bucheli  and
Erica Salvaj
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Abstract

The literature on multinational corporations argues that a foreign firm can legitimize its activities, improve its reputation in a host country, and reduce the risk of hostile actions by the host government (including expropriation) by approaching and incorporating influential members of the domestic elite in its business. By using the concept of obsolescing political legitimacy, we argue that this legitimating strategy can lead to a loss of reputation and eventual illegitimacy when the host country undergoes significant social and institutional changes. When these changes take place, the domestic society can perceive that the multinational benefited from a previous social and institutional order increasingly considered as illegitimate. Under these circumstances, the new order will question the legitimacy of the multinational's operations, increasing the risk of expropriation. We illustrate our hypothesis with the case of the political strategies of the International Telephone and Telegraph Company (ITT) in Chile in the twentieth century.

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Articles
Information
Business History Review , Volume 87 , Issue 4: Corporate Reputation , Winter 2013 , pp. 729 - 756
Copyright
Copyright © The President and Fellows of Harvard College 2013 

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References

The authors wish to thank the Chilean government for generous funding of this research provided through the Fondecyt grant no. 11085048. We also thank Adoración Álvaro-Moya and Alfredo Enrione for their comments on previous versions of this article.

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