Yet it provides academic standing (5)
I believe the answer is:
chair
'standing' is the definition.
The definition and answer can be both acts as well as being singular nouns.
Maybe they are linked in a way I don't understand?
I don't understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for chair that I've seen before include "Preside over - seat" , "Head of a university faculty or department" , "Senior academic post" , "Most important seat in committee" , "Lead" .)