000165681 001__ 165681
000165681 005__ 20260113234334.0
000165681 0247_ $$2doi$$a10.1007/s11205-021-02671-1
000165681 0248_ $$2sideral$$a124170
000165681 037__ $$aART-2021-124170
000165681 041__ $$aeng
000165681 100__ $$0(orcid)0000-0003-2596-9638$$aSerrano-Cinca, C.$$uUniversidad de Zaragoza
000165681 245__ $$aManaging for Stakeholders Using Multiple-Criteria Decision-Making Techniques
000165681 260__ $$c2021
000165681 5060_ $$aAccess copy available to the general public$$fUnrestricted
000165681 5203_ $$aManaging for shareholders means maximising the market value of a company by increasing their returns. Managing for stakeholders means simultaneously creating value for multiple parties, such as employees, government, suppliers, customers, the environment and even society as a whole, which requires a multiple-criteria decision-making approach. This paper develops social indicators to measure the value that a company has distributed to stakeholders since the foundation of the company, and then calculates its relative efficiency using data envelopment analysis (DEA). The accumulated value of the investments made by the shareholders, the subsidies received and the loans borrowed are proposed as inputs. The accumulated value of taxes paid by the company, personnel payments, interest payments to creditors, and purchases from suppliers are proposed as outputs. All values are adjusted for the time value of money at the valuation date. We chose a weighted DEA model because not all stakeholders are worth the same, obtaining the weights from the preferences of social investment experts using a multi-attribute decision-making technique. A practical case is presented, obtaining the relative efficiency of a sample of companies in creating value for five years since their foundation. We found a positive relationship between efficiency in generating value for shareholders and efficiency in generating value for some non-shareholders, although the results are sensitive to the outputs chosen. The proposed method is useful for social investors when they invest or for public administrations when they provide subsidy to entrepreneurs.
000165681 536__ $$9info:eu-repo/grantAgreement/ES/DGA-FEDER/S38-17R$$9info:eu-repo/grantAgreement/ES/MCINN/RTI2018-093483-B-I00
000165681 540__ $$9info:eu-repo/semantics/openAccess$$aAll rights reserved$$uhttp://www.europeana.eu/rights/rr-f/
000165681 590__ $$a2.935$$b2021
000165681 591__ $$aSOCIOLOGY$$b45 / 150 = 0.3$$c2021$$dQ2$$eT1
000165681 591__ $$aSOCIAL SCIENCES, INTERDISCIPLINARY$$b30 / 112 = 0.268$$c2021$$dQ2$$eT1
000165681 592__ $$a0.907$$b2021
000165681 593__ $$aArts and Humanities (miscellaneous)$$c2021$$dQ1
000165681 593__ $$aSocial Sciences (miscellaneous)$$c2021$$dQ1
000165681 593__ $$aDevelopmental and Educational Psychology$$c2021$$dQ1
000165681 594__ $$a4.7$$b2021
000165681 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion
000165681 700__ $$0(orcid)0000-0002-6468-0944$$aFuertes-Callén, Y.$$uUniversidad de Zaragoza
000165681 700__ $$0(orcid)0000-0002-5557-0380$$aCuellar-Fernández, B.$$uUniversidad de Zaragoza
000165681 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000165681 773__ $$g157 (2021), 581–601$$pSoc. indic. res.$$tSocial Indicators Research$$x0303-8300
000165681 8564_ $$s917079$$uhttps://zaguan.unizar.es/record/165681/files/texto_completo.pdf$$yPostprint
000165681 8564_ $$s1507740$$uhttps://zaguan.unizar.es/record/165681/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint
000165681 909CO $$ooai:zaguan.unizar.es:165681$$particulos$$pdriver
000165681 951__ $$a2026-01-13-22:05:48
000165681 980__ $$aARTICLE