The Emotional Dimension of Value: A Proposal for Its Quantitative Measurement.

Maite Ruiz-Roqueñi

doi:10.3389/fpsyg.2021.807412

Abstract

The first goal of this paper is to develop a theoretical and practical framework which can help to measure the emotional value generated by organizations in quantitative terms. Its second goal is to use data obtained from the UCAN (Union of Food and Agriculture Cooperatives of Navarre) in Spain as a case study to illustrate the quantification of the emotional value generated, with a view to factoring that value into a social accounting system. Ever greater recognition of the social role of organizations in recent years has led to a need for a consistent definition of the concept of socio-emotional value, and for instruments that can be used to measure that value in terms of generic social accounting. Taking the current lack of standardization in such models and instruments, especially those that deal with emotional value as its starting point, the paper proposes a new instrument for measuring that value quantitatively in such a way as to overcome some of the limitations of earlier proposals. The underlying perspective is that the monetary values identified in market and non-market transactions do not accurately account for all the value generated for different stakeholders, and that adjustments are required through a correction factor applied to the value variables identified. The quantification of the socio-emotional value generated by an organization is seen as a more comprehensive indicator of its performance, given that it provides more information and takes into account the value generated for stakeholders as a whole in all dimensions.

Highlights

There is increasing concern in developed countries at the impact that economic activity is having on society
The goal was to express the emotional value of UCAN in monetary terms, so first of all the social value generated by the organization’s market and non-market operations was calculated, with a view to determining its integrated social value per annum
Once this figure was obtained, the correction factor was applied to each variable identified in the integrated social value to obtain the emotional value

Summary

Introduction

There is increasing concern in developed countries at the impact that economic activity is having on society. By establishing principles of policy and governance, they seek to orient organizations toward the design of structures to set and attain goals in regard to their shareholders and stakeholders in general. In this context, organizations that operate in the social economy fit well into these new models of organization (Lazkano and Beraza, 2019; Echanove, 2020) because of their internal values: Prioritizing people and social goals over capital; democratic governability; solidarity; and the reinvestment of most profits in pursuit of sustainable development goals (Social Economy Europe, 2020)

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