Impacts of CSR on the legitimacy of the external buyer of small business
The literature recognizes the importance of the human factor in the success of business transfer operations, especially during the entry into function of the external successor. This stage of the business transfer process is characterized by the transfer of leadership from the former to the new owner-manager and represents a source of disruption for employees. Thereby, the need of legitimacy for the external successor is maximal because it increases the effectiveness of his power (Boussaguet, 2012) and reduces employees’ fears (De Freyman, Cullière et Boussaguet, 2018). However, analysis of the research conducted on this issue does not allow to understand how this legitimacy is acquired among employees. The purpose of this paper is therefore to contribute to the knowledge of the means at the disposal of the external successor to build his legitimacy. Based on nine case studies of small business engaged in CSR, our results identify the CSR approach of the external successor as a managerial posture favoring his legitimization among his employees. The managerial practices of the external successor are then more fair and offer him the opportunity to develop a new project around a set of ethical and moral values appreciated and shared by employees.