CSR legitimacy and managerial commitment in Bangladeshi firms: The mediating roles of good governance and employees’ concern

This study examines the relationship between managerial commitment and the legitimacy of corporate social responsibility (CSR) in the unique socioeconomic setting of Bangladesh. It looks at how socially conscious managers' intentions are transformed into perceived organizational legitimacy through the mediating processes of good governance and employee concerns. Structural Equation Modelling (SEM) with SMARTPLS 4.0 was used to analyze time-lagged data from Bangladeshi enterprises using a legitimacy theory framework to investigate the direct and mediated impacts. The findings show that CSR-committed (socially responsible) managers are directly impacted by CSR legitimacy, while employees' concerns do not act as a mediator despite its favorable association. Good governance is found to partially mediate this link by guaranteeing transparency and lowering symbolic CSR reporting. The paper addresses how Bangladeshi firms must adopt a strategic CSR framework in place of traditional donations. The findings support stricter corporate governance and uniform reporting standards that boost local firms' ability to compete internationally. Additionally, it provides practical insights for enhancing CSR effectiveness through governance reforms and managerial strategies in the CSR-legitimacy nexus.