What Firms Leave Multi-Stakeholder Initiatives? An Analysis of Delistings From the UN Global Compact

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This study analyzes which firms leave multi-stakeholder initiatives (MSIs) for corporate social responsibility. Based on an analysis of all active and delisted participants from the UN Global Compact between 2000 and 2015 (n= 15,853), we find that SMEs are more likely to be delisted than larger and publicly-listed firms; that early adopters face a higher risk of being delisted; and that the presence of a local network in a country reduces the likelihood of being delisted. We theorize that MSIs face a participant self-selection bias over time and that local networks enable legitimacy spillover effects that prevent firms from exiting.
Original languageEnglish
Publication date2017
Number of pages32
Publication statusPublished - 2017
EventThe 33rd EGOS Colloquium 2017: The Good Organization - Copenhagen Business School, Copenhagen, Denmark
Duration: 6 Jul 20178 Jul 2017
Conference number: 33


ConferenceThe 33rd EGOS Colloquium 2017
LocationCopenhagen Business School
Internet address


  • Corporate social responsibility
  • Small-and-medium-sized enterprises (SMEs)
  • Global institutions
  • Multi-stakeholder initiatives
  • Logistic regression
  • United Nations

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