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The Capitalistic Firm as a System that Produces Economic and Social Values

In: Contemporary Trends and Challenges in Finance

Author

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  • Patrizia Gazzola

    (University of Insubria)

  • Piero Mella

    (Univeristy of Pavia)

Abstract

The aim of the paper is to analyse the capitalistic firm, not only as systems for the creation of economic and financial value for their shareholders, but also that is evaluated for the social values. The financial performance and the value of capital, is measured by a coherent system of monetary values. Nevertheless, if we do not limit our view to simply the shareholders but consider instead the stakeholders, we must then also broaden our notion of the production of sustainable value to include both the social and the environmental values. This implies an intense social action based on transparency, reputation and the dialogue with the stakeholders that need to be communicates. The sustainability report is the instrument to inform the stakeholders how the firm, by pursuing its own prevailing interests, contributes to improving the quality of life of the members of the society in which it operates and that can, in all respects, represent a means for the creation of sustainable value.

Suggested Citation

  • Patrizia Gazzola & Piero Mella, 2018. "The Capitalistic Firm as a System that Produces Economic and Social Values," Springer Proceedings in Business and Economics, in: Krzysztof Jajuga & Hermann Locarek-Junge & Lucjan T. Orlowski (ed.), Contemporary Trends and Challenges in Finance, pages 183-190, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-76228-9_17
    DOI: 10.1007/978-3-319-76228-9_17
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