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This chapter provides an overview of the social policy development and assessment in East Asia. Our study shows that social policy assessment in this region is still relying on objective indicators and interviews, even though most of the regional governments have implemented the Regulatory Impact Assessment for improving regulation quality. General approaches to measuring social value such as Cost–Benefit Analysis, Cost-Effectiveness Analysis and Social Return on Investment are not commonly used in the formulation of social policies. We compare the features of these approaches and provide suggestions about how to embed social value assessment tools into social policy and strategy development process.

Acknowledgement of the social impact created by organisations has become an increasingly frequent discussion among practitioners. The importance of such value creation cannot be understated, yet in an increasingly competitive funding environment, the need to articulate “true” value is paramount. The purpose of this paper is to examine how Australian and US managers of non-profit organisations (NPOs) and foundations view the measurement of the social impact of NPOs.

The paper includes 19 in-depth interviews of non-profit professionals in the USA and Australia. Respondents included non-profit managers, foundation managers and consultants in both countries.

The in-depth interviews found that in both countries respondents generally agreed that objective measures of impact are desirable, but recognised the difficulties in developing objective assessment frameworks enabling comparisons across the non-profit sector. These difficulties, as well as the implications for developing assessments of social value for NPOs, are discussed. This paper demonstrates that there is an opportunity to reposition reporting expectations. The NPO sector can pool together and build on each other’s strengths and market their outcomes as a collective entity. A sector-wide approach provides potential for much needed within-sector mentoring and will showcase the rich and varied outcomes generated by NPOs.

This research compares viewpoints in two Western countries, thus offering at least an exploratory examination of social impact assessment from an international perspective. Additionally, this research shows commonalities in terms of what is valued and what is most difficult for non-profits when determining social impact.

The emergence of digital transformation in the banking industry gives rise to the challenges of adopting technology and boosting users' confidence in the process. This study mainly explores the roles of operant resources and consumption values in the user's consumption process concerning the fintech-embedded product-service system (FPSS) that provides technologically advanced financial services in South Korea.

This study examines the research model based on users' perceived quality, assessment and recommendation of FPSS. In addition, grounded in the resource-based view (RBV) and consumption value theory (CVT), an extended model is developed to understand the impact of user consumption value on FPSS design. The research model includes both product-service system (PSS) characteristics, i.e. quality and assessment, and user-specific characteristics, i.e. conditional, utilitarian and social values (collectively referred to as user consumption value).

This study finds that information, service and security quality positively affect users' confidence through positive assessment and recommendation intention. All the elements of user consumption value play a positive role in the FPSS user confidence model. In addition, the impact of operant resources on the overall service assessment is further investigated based on the interest of user's service engagement. Notable findings include users that highly engage in FPSS services return higher service assessment when social value, information quality and service quality increase.

Overall, this study provides academic and managerial guidelines for the strategic design of fintech-embedded banking services by considering the roles of PSS and user-specific characteristics in fostering sustainable competitive advantage.

This study aims to examine the role of devices in assessing the social impact of an organization. The study examines the effects of device and analyst expertise on the contents and conclusions of the report.

Six impact reports based on the same data from the same organization were compared to each other, to the charity data and to the devices used. Specific attention is paid to the role of the device’s sociomaterial form and discursive entanglements.

The six reports assessed the impact differently from each other and in ways that were consistent with the devices used. The devices performatively reconfigured the charity in impact reports through a series of omissions and misrepresentations which could be traced to the discourses hardwired into the devices themselves. The devices did not simply present the same impact assessment to different audiences or for different purposes, but (mis)represented the charity in specific ways aligned with the discursive entanglements.

The performativity of sociomaterial impact devices has implications for how researchers approach the study of impact measurement.

In this study, faithful adherence to an impact device led to greater omissions and misrepresentations than less expert impact assessments. Analysts should be supported to identify biases in their devices and be aware of sorts of omissions and misrepresentations that may result. Faithful adherence may not be the mark of rigorous analysis.

Performativity of impact measurement devices is explored with a unique data set.

Social initiatives must disclose their results to access support. However, there is no theoretical consensus about how to do it. It is still necessary to understand the value creation in social initiatives because they may or not have economic goals. However, these goals serve to make the social ones feasible. This study aims to cut this Gordian knot by providing measures aligned to the value theory but developed by the social lens. It offers a non-economic-focused approach to dealing with assessment complexity and with multiple stakeholders’ needs for information.

A consolidation research path is suggested by three composed measures built upon tested and reliable scales. These value measures are discussed through narratives from Portuguese investors and social entrepreneurs in a mixed-methods design. Content analysis and online survey provided data for descriptive statistics, exploratory factor analysis and Cronbach's alpha test.

The analyses supported the value measures. Thus, they allow an effective way to assess and report the social value created. It also highlighted a potential use in preventive and corrective approaches helpful for several organizations that pursue social goals.

The measures were tested based on social entrepreneurs' opinions. Future studies can include beneficiaries' opinions, allowing comparisons that can help to set more realistic goals and better investment criteria.

The relationship between investors and initiatives can improve, boosting their impact on society. The measures can highlight prioritization choices that influence the way value is created. Hence, they serve as a sensemaking from a holistic standpoint.

The emergence of social entrepreneurship, since its nascent stage, brought to light the imminent need to make the social value creating models workable by measuring the value created by them. This study reviews the existing literature from the past two decades to establish the role of accounting techniques in the measurement of social value. Nine databases were searched with the word combination “SROI” and “social enterprise” to determine the number of publications related to the field and the trend in its publishing. A classification of themes from selected studies was conducted to establish the direction of research in this context. Social return on investment (SROI) has been tested as a compatible measure and its implementation in various scenarios produced results; however, the inadequacy of its outcomes gives rise to the question whether any measurement tool can be appropriate for social value measurement because there is a need to justify the measurement of social value. The current trends call for further research in the field of customized measurement tools for the measurement of social value.

The purpose of this paper is to outline the system of assessment of economics journals in Italy, with particular attention to its implications for the development of a heterodox approach in economics.

The paper sketches the most important aspects of the Italian system of assessment of economics journals.

By employing the available sources of information, the main features of Italian periodical literature in social sciences are pin‐pointed. These consist of a large number of journals and, at the same time, there is an absence of ranking procedures for these journals based on impact factor criteria. Journals are mainly assessed through more “qualitative based” criteria: in particular, their scientific orientations, the standing of their Editorial Boards, and their level of diffusion among libraries. One important reason that might explain this trend lies in the blending of different strands of social thought that are at the heart of our cultural tradition. In fact, most such contributions have a distinct humanistic flair, which emphasizes the relevance of feelings, values and collective action in human experience.

The paper stresses that this system of research assessment, while having the merit of preserving some pluralism in social sciences, does not guarantee in many cases a well‐defined evaluation of economics journals, research institutions and individual contributions.

The paper highlights the importance of fostering a pluralistic‐oriented research assessment that should take into account, through a comprehensive and participatory social value process, all the factors relevant for a thorough appraisal of scientific contributions.

The aim of this study is to analyze the influence of perceived value on customer loyalty, going into depth in the special case of social value.

A total of 200 personal surveys have been conducted on customers of financial institutions, and structural equation modelling has been used to compare the relationships arising.

The importance of perceived value for consumer loyalty is confirmed, and the core performance of the service received is the main determinant of satisfaction. The effect of social value on customer loyalty is also examined in two ways: as a determinant of the attitude of the individual and as a normative component directly influencing behavioral intentions.

This research was carried out in financial services. Further research of the proposed conceptual model across different industries and countries is needed to determine the generalizability and consistency of this study's findings.

It highlights the interest of social marketing programs and corporate social responsibility to maintain the customer's loyalty.

The contribution of this work is that it makes it possible to study the effect of social value along with other relational variables in consumer loyalty. The authors compared the effect of the core service performance with the social component as an element influencing the individual's attitude and as a normative element.

The paper aims to assess the strengths and weaknesses of sustainable return on investment (SuROI) to determine it suitability as a means through which social value can be predicted in line with public procurement directives and the Social Value Act, whilst at the same time as fitting the developer’s business model and CSR commitments.

Using a multi-case design, findings from a comprehensive evaluation of three major housing-led mixed-use regeneration developments are presented. The three case study locations were selected on the basis of the developer’s strong commitment to place-making and social sustainability. Together with a strong strategic desire to reposition their organisation away from the traditional business as usual profit-led model.

Whilst the social return on investment methodology is applicable to the charity sector, its use in the built environment is highly questionable. When applying the model to the mixed-use housing projects, the authors identified a number of technical limitations to the model, inter alia a lack of suitable proxies and especially proxies relating to the built environment for the valuation of identified outcomes; the use of monetisation as a evaluating measure which did not support some of the more abstract or softer benefits identified; problems collecting, identifying and evaluating data to inform the model given the complexity and scale of the project; and significant time and expense associated with the valuation and finally the inability to benchmark the report on completion. These findings have implications for the social housing providers and local authorities looking to use SuROI to evaluate potential built environment projects.

The paper offers unique insights into the viability of using existing social value measurement methodologies. The paper identifies the significant limitations associated with the SuROI methodology.

This study aims to examine strategies for customer value assessment used by best practice suppliers in business-to-business markets.

An exploratory two-part field study using a grounded theory approach.

It should not be a difficult question – is the customer getting value for money? You offer them something, and if they like it, they pay for it and use it. However, it gets harder when the product lasts longer – particularly, if there is a significant service component. And what the customer considers important may not be what the supplier is focusing on. So, it is worth asking what companies in global business-to-business markets do to assess customer value when they deliver complex products with a high service content. What is current best practice? And is it good enough?

This is an exploratory study based on qualitative methodology, so the research process is necessarily subjective. Further research could investigate a wider group of firms and look at the performance implications of alternative strategies for customer value assessment.

The paper focuses on well-regarded suppliers operating globally that have complex product offerings with a high service component. It identifies three distinct strategies for customer value assessment.

This study considers customer value from a supplier perspective and suggests ways in which research might be extended to include the customer perception of realized value.

The paper draws attention to the need to consider customer value assessment as a process and determine whether expected benefits are achieved in practice.