Det gröna investeringsbeslutet: ett försök att uppnå legitimitet

Sammanfattning: This thesis investigates how fund management companies receive legitimacy by implementing an ESG-perspective in their investment process. The study was conducted through semi-structured interviews with the head of sustainability at different fund management companies active in the Swedish market. An examination of the institutional environment, the isomorphic processes influencing it, as well as Suchman's (1995) legitimacy forms created the framework for this study. Insights were gained regarding what methods the fund management companies use to receive legitimacy in different forms. A deductive approach was used in combination with a qualitative method. Findings include the identifications of key stakeholders, phenomena and organizations that influence how the fund management companies aim to receive legitimacy. Institutional investors set strict investment criteria, the signing of the PRI leads to indirect coercive measures and trade associations motivate fund management companies to mimic one another. The institutional environment and its isomorphic processes influence the fund management companies to imitate each other and therefore receive legitimacy in the same way.