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Main Problem in Displaying the Social Value Generated by Organizations

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 main problem is that we only look systematically at the financial value created or destroyed by firms, since conventional accounting is only concerned with reflecting value for shareholders. We do not currently have instruments that provide us with an intersubjective view of the value generated or subtracted by organizations for their stakeholders as a whole; that value is not just financial but also social, environmental and emotional at least. Any proposed solution must be based on a new discourse of business as a community of stakeholders who share resources and risks to generate value, and must therefore distribute the resulting value among themselves in a balanced fashion. To that end it is necessary to develop social accounting for stakeholders and to properly standardize it so that progress can be made towards a comprehensive, intersubjective framework or value generated and distributed.

Suggested Citation

  • José Luis Retolaza & Leire San-Jose & Maite Ruíz-Roqueñi, 2016. "Main Problem in Displaying the Social Value Generated by Organizations," SpringerBriefs in Business, in: Social Accounting for Sustainability, chapter 0, pages 11-13, Springer.
    • Handle: RePEc:spr:spbrcp:978-3-319-13377-5_3
    DOI: 10.1007/978-3-319-13377-5_3
    as

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