Social accounting focuses on value transactions between organizations and their stakeholders; both market ones, where the value perceived by the different stakeholders is identified, and non-markets ...ones, where transactions are monetized at their fair value. There was long awareness of an emotional value translation, linked to the transfer of different products, services, remunerations, and incentives, regardless of whether they were market or non-market. Yet that emotional value seemed to be anchored in the field of psychology and managed to elude economic science. This study seeks to identify emotional value with consumer surplus and, by extension, of the other stakeholders in a value transfer process. This proposal allows the emotional value to be anchored in the micro-economy and allows it to be objectively calculated using a regression involving three elements: the market price, the fair value interval, and a perceived satisfaction score by the different stakeholders in the form of significant sampling. The result obtained not only allows Social Accounting to be complemented with emotional value, but it also facilitates its incorporation in the strategy to optimize the emotional value. Furthermore, it enables a quantification of the perceived subjective utility, which opens up a research path where some possible lines are clearly identified.
Religious oriented organizations (ROOs) have frequently higher levels of motivation among their employees, because the aims of ROOs and those of collaborators and stakeholders are usually aligned. ...However, sometimes, when the management of ROOs becomes professionalized, tensions between aims and efficiency are more frequent, and productivity levels start to decline. The most widespread current management theories are focused on profit maximization and are not especially helpful to religious organizations which try to enhance their productivity levels and, at the same time, achive their mission and aims. In order to fill this gap, in this research, we will develop two main concepts: social accounting and organizational citizenship behavior (OCB). We will propose the use of social accounting to calculate the social value generated by ROOs and, from that point, build new indicators able to measure the organizational citizenship behavior (OCB) of collaborators working in ROOs. We will exemplify this theoretical development with the actual case of the diocese of Bilbao. In short, the main objectives of this work are two. The first objective is the development of a theoretical framework able to enhance the levels of social value creation inside religious (and socially oriented) organizations using social accounting. The second objective is the use of data from the 16 educative centers of the diocese of Bilbao to ilustrate that social accounting is a valid tool to measure social value. Additionally, we will show that social accounting can be a tool to assess management decisions in order to enhance organizational and individual OCB in ROOs and, in this way, generate moral satisfaction for employees and collaborators in their organizations.
Monetizing social value in sports clubs Mendizabal Leiñena, Xabier; San-Jose, Leire; García-Merino, Jose-Domingo
Sport, business and management,
12/2022, Volume:
12, Issue:
5
Journal Article
Peer reviewed
PurposeEuropean elite professional basketball clubs do not pursue economic profit maximization per se, but they also seek to create social value for stakeholders due to the community outreach and the ...emotional bonding that such organizations create. Here the purpose of this paper is to use an accounting system called social accounting to measure the social effects of an organization's activity in an effort to monetize and describe the holistic value created by these sports organizations for their stakeholders.Design/methodology/approachThis study applies an adapted, redesigned social accounting using SPOLY methodology to two elite basketball clubs in the ACB League (Spanish First Division), in order to monetize their social value. This methodology integrates non-market social value (value created for stakeholders without a financial transaction) with market social value (value created for stakeholders through market transactions), by monetizing validated dimensions for non-market and market social value obtained via information provided by clubs and their financial statements.FindingsClubs create a quantifiable social value for stakeholders through non-market and market dimensions. Value creation is not merely restricted to securing financial profit for shareholders but rather takes on another dimension in which the various stakeholders receive a holistic value from clubs.Originality/valueThis study provides evidence that clubs generate a quantifiable social value for their stakeholders that complements their economic value. This can help clubs to set up their own narrative concerning value creation for stakeholders and enable them to convey and manage the overall distributed value for stakeholders.
Corporate social performance (CSP) and corporate financial performance (CFP) have been studied widely in the last fifteen years. These major efforts in research and publication might have been ...expected to produce aligned results but is it not the case; this paper aims to study why there is no consensus among them. By using the bibliometric data obtained from Scopus, this paper looks at four bibliometric indicators (journals, authors, countries, areas) for published work. We look for papers between 1977 and 2018 and identify a total of 371. The findings reveal that there are at least five key journals publishing in CSP-CFP relationship. There is a lack of co-occurrence between authors, regarding areas, two distinct perspectives are detected: one based on sustainability and social responsibility and the other linked more closely to marketing, and both perspectives can be connected via stakeholder theory. It contributes using bibliometric approach, it shows a reason to align the results around the relationship between CSP-CFP and open the windows to create a theory. Finally, the findings of this paper provide insights to the researchers on the development of social responsibility. The disparity of results in this line enriches analysis but does not outcome in a single line of contribution to science, thus decreasing the potential for channelling studies into a single theory. This only seems possible if contributions can be focused on the nexus that unites them: stakeholder theory.
This study aims to discuss the use of social accounting, supported by practice theory, and its contribution to social accounting theory. It is possible for stakeholder accounting to be carried out by ...various companies. It has been analyzed by multiple case studies, and the results will enable us to help the general public understand the social values that companies generate for society and the resulting impact on stakeholder, and therefore social well-being. The results of the analyses will provide companies with feedback on their social impact, which will help them to become more efficient. This study defines a framework that might guide the social value and nonfinancial information of organizations. Social accounting is seen as an accounting system based on accepted accounting principles, seeking to emphasize the notion of corporate accountability. From the analysis of more than 90 cases, we conclude that there is a possibility of systematically introducing stakeholder accounting or recalled socioemotional accounting (SĒA) into all organizations.
Insolvency proceedings are strategic for the competitiveness of a national economy. The new law, but also new financial situation of organizations affect the new normal of insolvency framework. In ...Europe, standards aimed at creating an efficient framework for corporate insolvency resolution are constantly changing to enhance the efficiency of such mechanisms. This pursuit contrasts with the lack of specific efficiency data available to both legislators and researchers, there are no solid statistics to investigate the phenomenon from the perspective of its efficiency, which makes it impossible in practice to investigate its explanatory variables. Previous studies have led us to reflect on key information asymmetry and adverse selection problems resulting from a gap between the new challenges on insolvencies processes and options, because the lack of information. Based on this reflection, we have identified parallelisms between the lemon market, and current insolvency proceedings in Spain. Although, the legal system is modified, the insolvency process itself is a drag, for the achievement of the long-awaited efficiency of the process. It will be necessary to change, not only the legislation, but also the information provided, and create a new insolvency system because actual has "lemons signals", this circumstance is producing negative effects on the efficiency and competence of a key figure in the process: the insolvency administrator.
•We model the economic, social and overall efficiency of banks in Spain.•We examine the “governance problem” of Jensen using the Spanish bank case.•The type of financial entity (bank or saving bank) ...influences their efficiency.•Savings banks are not less efficient globally than banks, but more efficient socially.•Efficiency effects do not directly depend on bank type (saving versus traditional).
Searching for greater inter efficiency has been used as a reason to modify the Spanish banking system since 2009. This paper aims to contribute to quantify the magnitude of efficiency, but not only the economic one, but also social and overall efficiency from 2000 to 2011. The case of Spain – compared to other banking systems – provides unique information regarding the stakeholder governance banking literature because over the last century savings banks have become rooted in the Spanish culture. The results – confirmed by a two-stage frontiers analysis, a DEA and a model combined with bootstrapped tests – indicate that Spanish savings banks are not less efficient globally than banks and are more efficient socially. Moreover, our results – with potentially important implications – encourage the participation of stakeholders in banking systems and underline the importance of attaining long-term efficiency gains to support financial stability objectives.
Moral hazard in an organization occurs when people make decisions and take a high risk for their own benefit, given that they would not have to bear all the negative ensuing consequences should they ...occur. This risk transferred to third parties is generally due to the catalysts that foster this risk, namely, information asymmetries, power, trust and temporality. The contribution of our research lies in the inclusion of moral decisions in project management, thus demonstrating the feasibility of a Moral Compliance Model (MCM). This model is a complement to legal compliance and allows a connection to be established between Risk Management, Governance & Compliance. In 2019, experimental action research, combined with a Plan-Do-Check-Action applied to a company, were used to perform the analysis. The findings show that implementing this moral model in organisations is possible. However, what moral hazard is needs to be shown, along with identifying moral hazard situations and planning how to introduce moral hazard into the risk management model in order to reduce its negative effect or, ideally, eliminate it. We provide an overview of risks, including those around moral dilemma decisions; moral hazard situations that will expand compliance to integrated compliance in which not only legal, but also moral aspects are identified and assessed. Incorporating ethical dilemmas in strategic decisions is a robust advance towards responsible businesses.
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