If banks lack 'social legitimacy' they

Question

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Social legitimacy refers to the perception of a business by society in terms of its ethical, social, and environmental responsibility. Hence, if banks lack social legitimacy, it means that society perceives them to have equity, ethical, and/or sustainability problems. Options A and D mention balance sheets, gearing, and weaker legalities, but these do not necessarily relate to social legitimacy. Option B is also incorrect as charity donations and fancy dinners do not necessarily determine social legitimacy.

If Banks Lack 'Social Legitimacy' They