000117322 001__ 117322
000117322 005__ 20230519145354.0
000117322 0247_ $$2doi$$a10.1108/SAMPJ-07-2019-0260
000117322 0248_ $$2sideral$$a119262
000117322 037__ $$aART-2021-119262
000117322 041__ $$aeng
000117322 100__ $$0(orcid)0000-0003-2596-9638$$aSerrano Cinca, Carlos$$uUniversidad de Zaragoza
000117322 245__ $$aFirm and country characteristics related to cumulative contribution to society
000117322 260__ $$c2021
000117322 5060_ $$aAccess copy available to the general public$$fUnrestricted
000117322 5203_ $$aPurpose: Many indicators attempt to measure the social performance of a company from different perspectives. Grounded in stakeholder theory, this paper aims to propose capitalising the economic value distributed annually to society over a period of time, hereafter called a firm’s cumulative contribution to society (CCS). This can be done by including everything that stakeholders value; for example, payments of taxes, remuneration of employees, payments to suppliers and creditors, donations, dividends, research and development expenses and efforts to improve the environment. Design/methodology/approach: First, this paper makes a methodological proposal about how to calculate the CCS and discusses potentials and shortcomings. Then, a set of hypotheses are formulated about the firm characteristics and country attributes that make the most positive contribution to society such as business models, financial performance, a country’s human development, income equality and the extent of its shadow economy. The authors also argue that a company that originally contributes to society will continue to do so because of the structural inertia faced by organisations. The hypotheses were validated with an empirical study conducted with a sample of 9, 276 new-born European companies. Findings: The most significant contributors to society are large, profitable companies, which are leveraged but solvent, with high asset turnover and high-profit margins and which are productive and pay high wages. Unfortunately, this win-win situation describes a small percentage of the explained variance, which can explain why social and financial performance sometimes do not go hand-in-hand. The paper identifies features of other types of companies that contribute to society, suggesting criteria for socially responsible investors. Country development favours the cumulative contribution that firms make to society. Research limitations/implications: Most accounting systems do not collect all the information necessary to calculate a refined version of the indicator such as percentage of purchases from local suppliers, percentage of salaries for executives and disabled employees and percentage of financing from socially responsible financial entities. The authors encourage modification of the accounting systems to include those aspects. Practical implications: This paper identifies several types of companies that contribute the most to society from a modest set of financial indicators. Socially responsible investors can estimate their contribution to society, devising new investment criteria. Social implications: The paper identifies several types of companies that contribute the most to society from a modest set of financial indicators. Socially responsible investors can estimate their contribution to society, devising new investment criteria. Originality/value: The paper makes two contributions, one methodological and the other empirical. By applying a financial methodology, the authors propose to capitalise the contributions of a company over a period of time. The empirical study identifies both firm and country characteristics that explain CCS.
000117322 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc$$uhttp://creativecommons.org/licenses/by-nc/3.0/es/
000117322 590__ $$a3.964$$b2021
000117322 592__ $$a0.748$$b2021
000117322 594__ $$a4.8$$b2021
000117322 591__ $$aENVIRONMENTAL STUDIES$$b50 / 128 = 0.391$$c2021$$dQ2$$eT2
000117322 593__ $$aRenewable Energy, Sustainability and the Environment$$c2021$$dQ1
000117322 591__ $$aBUSINESS, FINANCE$$b34 / 111 = 0.306$$c2021$$dQ2$$eT1
000117322 593__ $$aBusiness, Management and Accounting (miscellaneous)$$c2021$$dQ1
000117322 591__ $$aMANAGEMENT$$b130 / 228 = 0.57$$c2021$$dQ3$$eT2
000117322 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000117322 700__ $$0(orcid)0000-0002-5557-0380$$aCuéllar Fernández, Beatriz$$uUniversidad de Zaragoza
000117322 700__ $$0(orcid)0000-0002-6468-0944$$aFuertes Callén, Yolanda$$uUniversidad de Zaragoza
000117322 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000117322 773__ $$g12, 1 (2021), 184-219$$pSustainability Accounting Management and Policy Journal$$tSustainability Accounting, Management and Policy Journal$$x2040-8021
000117322 8564_ $$s336132$$uhttps://zaguan.unizar.es/record/117322/files/texto_completo.pdf$$yVersión publicada
000117322 8564_ $$s2114286$$uhttps://zaguan.unizar.es/record/117322/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000117322 909CO $$ooai:zaguan.unizar.es:117322$$particulos$$pdriver
000117322 951__ $$a2023-05-18-13:29:37
000117322 980__ $$aARTICLE