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Objective: This paper describes a different perspective on the application of stakeholder theory, concentrating only on the interests of stakeholders rather than on their roles. The purpose of this article is to provide an option for solving Jensen’s “problem of governance”; this approach will allow the agent to manage the stakeholders having ascertained that the needs of stakeholders overlap and, accordingly, the agent should be able to monitor multiple stakes as they are aligned. Design/methodology/approach: A Delphi method was used with the aim to achieve consensus about the interests of stakeholders for companies in Spain. The confirmatory phase was based on interviews to test whether the interests identified in the preliminary study match the interests that the IBEX-35 firms recognized in relation with their stakeholders. Findings: The main contributions are: the addition of a new interest-based perspective to the different classifications made by stakeholder theory; a solution to the diversity of indicators between stakeholders and shareholders; and, finally, a proposal for an integrated accounting system, incorporating economic as well as social issues employing a common metric (monetary). Practical implications: A new perspective focusing on stakeholder interests and the confirmation that interests may converge permits the control and management of multiple principals in transnational corporations operating in different countries. Originality/value: There is a gap in the applicability of stakeholder management that the interest-based perspective can help resolve; moreover the monetization of social value is an option to efficiently manage transnational corporations.

This article describes a theoretical way of understanding business enterprise, for what it is used the stakeholder theory as a theory of the firm. Thus, the purpose of this article is to show an innovative perspective called ontological perspective of stakeholders that relies on a phenomenological model where the subjective perspective of agents is the key, from a purely monetarist model to an economic, social and emotional value creation model, and from a deductive model of stakeholder interests to an inductive model. The main contributions are: add a new perspective to the different classifications made of stakeholder theory, avoid monetarist reductionism under the concept of value in a way that the manager takes into account all interconnected interests of stakeholders, and finally prioritize interests map instead of roles map without accepting the assumption that the role involves joint and no conflicting interests.

This chapter classifies and analyzes the main methods currently in use for quantifying the social value generated by organizations. As an aid in classification, they are grouped under five main headings: Impact Analysis, Assessment of externalities, Monetary Valuation, Management Improvements, and Rating Systems. An in-depth analysis is then conducted of the techniques of monetary valuation, and specifically of its common basis in the form of cost-benefit analysis. Two main groups are distinguished: one centered on the reduction of inputs and the other on the maximizing of outputs. In the latter a distinction is drawn between those that refer to past outputs (trading) and to future outputs (investment). Part two examines the differences between SROI as a method for analyzing return on investment and the synchronous methods of monetization of value. The essential difference is that the former operates on a set of years in which returns on investment take place and the latter focuses on the data for a past period, normally the financial year. An in-depth examination is also made of the limitations of using SROI to quantify social value generated in the past.

[ES] El incremento del consumo de ropa provoca que año a año aumente el volumen de ropa desechada, y con éste, la conciencia sobre la necesidad de reutilizar dicho recurso. Berohi S. Coop. es una de las empresas dedicadas a la recuperación y reciclaje del textil usado, con origen en Bizkaia. La concepción inicial y desarrollo del proyecto empresarial Berohi S. Coop. constituyen el eje central del caso. Berohi S. Coop., nace en el año 2000, fruto de un proceso de colaboración de las diferentes entidades que trabajaban en la recuperación del textil usado, en el ámbito geográfico del País Vasco. El modelo de empresa resultante es una sociedad cooperativa, de utilidad pública e iniciativa social, que persigue como objetivos prioritarios satisfacer las necesidades de ropa a personas necesitadas, la mejora medioambiental a través de su actividad, así como la generación de empleo al colectivo de personas en situación o riesgo de exclusión social. La recogida selectiva de ropa, calzado, complementos y demás elementos textiles usados para su posterior tratamiento, manipulación y comercialización constituye la actividad base de la empresa. En la actualidad la empresa ofrece un proyecto integral de recuperación del textil en el ámbito geográfico de Bizkaia, así como un desarrollo en proceso en Chile. [EN] The increase in clothes consumption causes a raise in the volume of thrown out clothes each year, and this provokes the awareness of reusing that resource necessity. Berohi S. Coop. is one of the organizations placed in Bizkaia (Basque Country) that works in second hand clothing recovery and recycling. The initial conception and development of Berohi S. Coop. business project is the focal point of this case. Berohi S. Coop. was founded in 2000 as a result of a collaboration process among the Basque Country entities that worked in second hand clothing recovery. Berohi is a cooperative society of public utility and social initiative whose main objectives are to satisfy the clothing requirements of needy people, to promote environmental improvement and to create employment for the people in social exclusion risk or situation. Its main activities are the selective collection of second hand clothes, shoes, accessories and the rest of textile elements for their subsequent handling, treatment and sale. Today, the organization provides an integrated solution in the textile recovery field throughout Bizkaia and a development cooperation project in Chile.