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Background: Social Role of Companies and Success Indicators

In: Social Accounting for Sustainability

Author

Listed:
  • José Luis Retolaza

    (Deusto Business School, ECRI Ethics in Finance & Social Value)

  • Leire San-Jose

    (University of the Basque Country (UPV/EHU), ECRI Ethics in Finance & Social Value)

  • Maite Ruíz-Roqueñi

    (University of the Basque Country (UPV/EHU), ECRI Ethics in Finance & Social Value)

Abstract

The basic function of any organization, i.e. that which legitimizes it socially, is to create value for society as a whole; however concern for the economic and financial factors involved in all trading activities has resulted in the development of accounting focused on these instrumental issues. The successful development of this accounting has led to results concerned with the actual purpose of organizations being relegated or overshadowed. This chapter analyses the different theories that make economic results a good indicator or social value: transaction cost theory, contract theory, agency theory, etc. These are contrasted with a system-based outlook taken from stakeholder theory, seen as a more suitable paradigm for understanding the inherent nature of organizations and their consequent function in society. Finally, the main indicators being developed are reviewed in an attempt to visualize the social value generated fundamentally by companies.

Suggested Citation

  • José Luis Retolaza & Leire San-Jose & Maite Ruíz-Roqueñi, 2016. "Background: Social Role of Companies and Success Indicators," SpringerBriefs in Business, in: Social Accounting for Sustainability, chapter 0, pages 5-10, Springer.
    • Handle: RePEc:spr:spbrcp:978-3-319-13377-5_2
    DOI: 10.1007/978-3-319-13377-5_2
    as

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