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By contributing to the burgeoning debate regarding “for what” nonprofit organizations should be accountable, this article aims to develop and present an Integrated Accountability Model (IAM) that considers three dimensions of accountability.

After highlighting the limits of conventional accounting for NPOs and reframing the role of profit within them, the article presents a complete literature review on “to whom” and “for what” NPOs have to be accountable while further developing the IAM of integrated accountability.

The integrated accountability model developed in this article proposes three categories of NPO accountability: (i) the economic and financial dimension or the capability/ability to be economically sustainable in the long term; (ii) the mission-related dimension or the raison d’être of an NPO, that is, the purpose for which the NPO has been set up, its mission; and (iii) the social-related dimension or the relationship with the stakeholders, that is the impact of NPO activities on its stakeholders in terms of the social contract between them.

Broadly, this article makes a contribution to the literature on accountability for NPOs. In particular it sheds light on two points: the importance of separating the mission-related dimension from the social-related one and the potential to open avenues for expansion of the IAM model to for-profit organizations.

This chapter intends to seize the different economic and financial dimensions of the crowdfunding and shows how this latter contributes to transforming donations through its financialisation. Here, Polanyi's lessons on reciprocity and Keynes's lessons on monetary economics and conventions are enlightening. Indeed, by setting up an intermediary or by putting projects in competition, platforms develop the use of conventions linked to market coordination. By encouraging the monetarisation of expenses and projects and the commodification of donation activities, the crowdfunding not only becomes a tool of financialisation but also modifies social relations. Moreover, it creates new niches of financial exclusion, particularly for projects with a significant social or environmental dimension, and tends to make the financing of certain projects rely on savings rather than on monetary creation. Far from being the alternative and a counter-model to traditional finance, crowdfunding actually reinforces financialisation by introducing a new financial intermediary and contributes to its expansion in hybrid forms.

This chapter presents a case study involving a socio-economic Organizational Development (OD) project carried out in a European subsidiary of a large multinational corporation traded on the New York Stock Exchange. This research case study, one of the 1,854 socio-economic interventions undertaken by the ISEOR research center, was chosen for its good illustration of the OD engineering process. It connects the dots between OD and financial performance, between immediate results and the creation of potential. We look at some of the tools and methods, such as overhauling loss and profit accounts and balance sheets with an eye on socio-economic balance, to illustrate socioeconomic tools at work and how they help enhance compatibility between the objectives of all stakeholders, including shareholders. With this case study, we also set out to provide food for thought on the contribution of socio-economic OD to the construction of socially responsible capitalism (Savall et al., 2015).

This paper investigates how contemporary public policy for public-private partnerships (PPPs) deals with non-financial values and thereby shapes the way social, cultural and environmental issues are accounted for.

A case study critically analyses PPP policy in Victoria, Australia, an acknowledged leader in the area. The investigation of the policy’s approach to non-financial value focusses on the treatment of social and environmental issues, particularly in relation to indigenous cultural heritage values.

It is found that important non-financial issues are characterised as risks to be quantified and monetised in PPP project assessment. A critical analysis shows that this approach obscures many significant dimensions of social, environmental and Indigenous cultural heritage value. The resultant relegation of non-financial values in public discourse and decision-making is seen to entrench unsustainable practices.

The paper shows how public policy may shape actions and outcomes that impact directly on social, environmental and indigenous cultural heritage values.

This study provides insights into contemporary social and environmental accounting and accountability for PPPs. It adds to the understanding of the implications of public policy framings of non-financial values.

The purpose of this paper is to investigate the multidimensional nature of social and nonprofit organisations' accountability and performance measurement systems (PMSs). It further considers how these systems help in defining outcome performance indicators downward to beneficiaries

The paper discusses participatory action research (PAR) within an Italian social enterprise. In order to increase dialogue, participation and engagement, the researchers adopted focus groups as a preferred method of investigation and conducted a broad documental analysis from July 2016 to March 2018. The paper discusses the gathered data in light of the social impact value chain as well as the multiple-constituency approach.

The findings support the idea that social and nonprofit organisations lack the expertise and resources to evaluate outcomes and impact; however, through PAR, the organisation defined their desired outcomes and ascertained which internal output measures were most likely to be correlated with these outcomes. Moreover, the findings highlight that nonprofits develop outcome measurements less frequently because they have more control over their immediate activities and outputs.

This research suggests the need to reinforce lateral and downward accountability based on mission and mission-based activities in order to make the performance management system of social and nonprofit organisation linked to the organisational strategies.

This paper innovates methodologically in two directions: 1) it adopts action research as a qualitative method, allowing the researcher to generate solutions to collectively-identified problems and 2) the paper's arguments are strongly supported by rich empirical exploration that occurred over a period of 20 months in an Italian social enterprise.

This study examines whether Brazilian health insurance companies (HICs) engage in earnings management through discretionary accruals or operational decisions by refraining from reporting a low indicator of sustainability in the market (IDSM).

The study used the Jones and Modified Jones models to identify earnings management through discretionary accruals and used the model described by Roychowdhury to estimate the abnormal behaviors of operational decisions. Data covering 2012 to 2018 were collected from the ANS website.

The results show that HICs engaged in earnings management to avoid reporting a low IDSM. The findings should help health insurance clients make decisions regarding the purchase or change of health insurance. The findings should also encourage regulators to improve their evaluation of the economic and financial risks around HICs.

The National Agency of Supplementary Health (ANS) established a qualification program for HICs, monitoring them based on a set of indicators. Managers may have an incentive to use earnings management to obtain indices that meet the requirements of the ANS qualification program in order to avoid showing signs of abnormality.

本研究旨在探討巴西的醫療保險公司，透過避免報導低的市場可持續性指標，是以裁決性應計，抑或是以操作決策來進行盈餘管理。

國立輔助醫療辦事處 (註：此為直譯)(The National Agency of Supplementary Health)為醫療保險公司建立了一個資格檢定機制，基於一套指標來監管這些公司。公司主管或會有鼓勵性的誘因去使用盈餘管理來取得符合國立輔助醫療辦事處資格檢定機制所要求的指標，從而避免顯示異常的跡象。

本研究使用Jones 模型及Modified Jones模型，透過裁決性應計來辨認盈餘管理，研究亦使用羅伊喬杜里 (Roychowdhury) 描述的模型， 來估計操作決策的異常行為。數據取自國立輔助醫療辦事處的網址，並涵蓋2012年至2018年期間。

研究結果顯示，醫療保險公司進行盈餘管理，以求避免報導低的市場可持續性指標。研究結果應可幫助醫療保險客戶在購買或更改醫療保險時作適當的決定。研究結果亦可鼓勵監管者改善他們對醫療保險公司的經濟及財務風險所作的評估。

The purpose of the paper was to explore the issue of hoarding and dishoarding in a modern context, especially as it relates to circulation of wealth, an important economic objective from the Islamic viewpoint.

This paper presents a survey of scholarly positions on the issue of hoarding and circulation of wealth from Islamic perspectives and analyzes how these positions affect the shaping of financial and economic dimensions of life in our contemporary time. The paper draws on the primary sources, the Qur'an and hadith, and examines the positions of the classical and contemporary scholars, especially in the context of the growing interest in finance, the financial system and economy from the Islamic perspective.

The paper identifies the fact that the notion of hoarding (kanz) needs significantly revised understanding, as money as a concept and tool has evolved substantively in modern times. It also examines variant positions regarding the concept of hoarding and finds more merit in favor of the position that paying zakat is not enough to be exempted from the Qur'anic implications about hoarding. It also identifies and examines securitization, such as sukuk, as an important tool for better circulation of wealth.

Hoarding and dishoarding are not widely explored topics in contemporary literature on Islamic economics and finance. This paper makes a valuable contribution in its attempt to highlight the problem of hoarding and the challenge toward greater circulation of wealth.

This study aims to propose an approach to assess the security of supply (SS) in a coal-fired electricity generation supply chain subject to public price regulation in Brazil. This study characterizes the Brazilian scenario of coal-fired electricity generation, which represents less than 3.5% of the energy sources.

Data from six mining companies that supply a coal plant were analyzed in a case study. The risks were characterized and objectively estimated through a synthetic multidimensional index. Structural changes in the earnings before interest, taxes, depreciation, amortization and exploration indicator time series of coal companies (CC) were statistically detected.

Empirical evidence demonstrates that the supply chain has a low disruption risk (SS index equal to 0.74). However, when suppliers are individually analyzed, 48.64% of all coal shows moderated disruption risk, and 2.51% is under high risk. In addition, this study finds a drop in the financial results of CC related to public regulation of coal prices. This impacts the security of coal supply.

This study discusses the influence of legal and regulatory policy risks in a coal power generation supply chain and the implications of the SS index as a management tool.

A novel SS index is presented and empirically operationalized, and its dimensions – environmental, occupational, operational, economic-financial and supply capacity – are analyzed.

The purpose of this research is to identify and examine the main factors which have explained the sanitation companies' performance and to expand the information on basic sanitation as a way of subsidizing the planners of this important component in the population's quality of life.

The methodological approach used consisted of the selection of a set of 36 indicators from the 26 sanitation companies regarding the year 2003, divided into two groups, with the intent of avoiding spurious correlations. The groups were separated, taking into account their economic, financial and operational features. Subsequently, the indicators were submitted to the factorial analysis, by using the method of the main components extraction.

Based on variables examined it was possible to identify the Operational Management factors: Monitoring and control; Water demand management; Sewage coverage; Urban structure; Environmental protection; Disposition and use of the urban space; Economic and financial capacity; Tariff policies; Collection efficiency; and Liabilities quality as the most representatives ones and those which can better explain the Sanitation Companies' performance.

The results achieved from the factorial analysis intend to be a contribution to the formulation of management actions for the sanitation companies. They may also be used in a city or in a set of cities as a subsidy to the elaboration of various policies.

This article is an innovation as far as it applies the multivariate analysis for the construction of factors which explain the sanitation companies' performance.

In view of the significant deficiencies that have been observed in corporate social responsibility (CSR) reporting practices, some companies have undertaken a new communication strategy based on a combination of the GRI guidelines and the IFC Performance Standards (termed the GRI-IFC strategy). This paper aims to analyse the role of the CSR committee and of assurance services in promoting this novel practice.

The authors use an unbalanced sample of 750 international companies that operate in emerging markets for the years 2011-2016, in which logistic and ordinal regressions are applied to the panel data to test the research hypotheses.

The results show that the existence of a CSR committee facilitates adoption of the GRI-IFC strategy, thus promoting sustainable management policies and systems and enhancing communication with stakeholders. In addition, these specialised committees often commission assurance for sustainability reports, to reinforce strategies aimed at improving corporate transparency.

The analysis of mediation shows that diverse characteristics of corporate governance mechanisms interact in improving sustainability and business transparency.

There is an evident need for greater commitment by institutions to sustainability, for example by requiring greater specialisation of the members of the CSR committee in social and environmental issues. In addition, consideration should be given to including the creation of a CSR committee as a good practice, within the code of corporate governance and to establishing a specific framework for the committee’s actions.

The previously cited impacts of this paper all contribute indirectly to a greater social welfare by generating higher levels of transparency, ethics and corporate performance. Specifically, higher quality verification services will have an impact on the improved functioning of the financial and capital markets, as well as in decision-making by internal and external stakeholders with more reliable information that will favour the implementation of more sustainable processes that in the short and long term will mean more companies who are responsible towards the environment and society.

This novel study explains why companies adopt voluntary strategies in compliance with GRI guidelines, seeking to provide better CSR disclosure.