The Effects of Resources on Social Activity and Economic Performance in Social Economy Organizations

• Published date: 01 June 2016
• Date: 01 June 2016
• Author: María Pilar Rivera Torres,Francisco José López‐Arceiz,Ana José Bellostas Pérezgrueso
• DOI: http://doi.org/10.1002/nml.21204

499

N M  L, vol. 26, no. 4, Summer 2016 © 2016 Wiley Periodicals, Inc.

Published online in Wiley Online Library (wileyonlinelibrary.com) DOI: 10.1002/nml.21204

Journal sponsored by the Jack, Joseph and Morton Mandel School of Applied Social Sciences, Case Western Reserve University.

Correspondence to: Ana José Bellostas Pérezgrueso, University of Zaragoza, Accounting and Finance, Gran Vía, 2 50005

Zaragoza, Spain 50005. E-mail: bellosta@unizar.es.

 e Eff ects of Resources on Social

Activity and Economic Performance

in Social Economy Organizations

Francisco José López-Arceiz , Ana José Bellostas Pérezgrueso,

María Pilar Rivera Torres

University of Zaragoza

Social economy organizations ( SEOs ) represent the European Union ’ s strong commitment

to promoting the creation of welfare, employment, and social cohesion. This article exam-

ines the financial management model of these organizations by analyzing the impact of

their available resources or capabilities on their economic performance and social activity

and the possible mediating effect of their economic dimension as a strategic element in

obtaining social achievements. In this study, we analyze 1,400 Spanish SEOs between

2009 and 2012 by using a structural equations model ( SEM ). Our results reveal that

SEOs have their own financial management model that is characterized by the mediating

role of economic performance and a high ability to adapt to changes in the environment.

Keywords: social economy organizations , social activity , economic performance ,

resources , structural equation model

IN 2010, THE EUROPEAN COMMISSION defined its 2020 strategy and highlighted the con-

cept of social economy as an ideal tool to correct socioeconomic and regional imbalances in the

European Union (Coen 2010 ; European Parliament Resolution [Toia Report] 2009 ; VOSEC

2010 ). Social economy organizations (SEOs), as the nucleus of the social economy, are respon-

sible for promoting employment and economic activity. This responsibility has been important

since 2008, when the Great Recession started. In countries such as Spain, the government

decreased public expenses for social services and promotion of employment (Fundacion PwC

2013 ) by 24.70 percent between 2010 and 2012. As a consequence, SEOs have changed their

financial management model as a response to this economic situation.

The objective of this study was to contribute to the body of knowledge on these organiza-

tions by studying their financial management model, analyzing the impact of their resources

or capabilities on their economic performance and social activity, and assessing the possible

We thank “ e  ird Sector ’ s Social and Economic Studies Group” (GESES-S64) and “Value creation in organizations” (CREVALOR-S17)

for their suggestions in the elaboration of this paper, Mara Mandaru for her review translation, FPU Financial Program (FPU 13/02481),

and Research Project “Abilities, ICT, property and organization like determinants of productivity, salaries and asset distribution”

(ECO2013-48496-C4-3-R). Finally, we want to thank the reviewers for their comments and suggestions.