The social return on investment model: a systematic literature review

Abstract

Purpose: Social return on investment (SROI) has received increasing attention, both academically and professionally, since it was initially developed by the Roberts Enterprise Development Fund in the USA in the mid-1990s. Based on a systematic review of the literature that highlights the potential and limitations related to the academic and professional development of the SROI model, the purpose of this study is to systematize the academic debate and contribute to the future research agenda of blended value accounting. Design/methodology/approach: Relying on the preferred reporting items for systematic reviews and meta-analyses approach, this study endeavors to provide reliable academic insights into the factors driving the usage of the SROI model and its further development. Findings: A systematic literature review produced a final data set of 284 studies. The results reveal that despite the procedural accuracy characterizing the description of the model, bias-driven methodological implications, availability of resources and sector specificities can influence the type of approach taken by scholars and practitioners. Research limitations/implications: To dispel the conceptual and practical haze, this study discusses the results found, especially regarding the potential solutions offered to overcome the SROI limitations presented, as well as offers suggestions for future research. Originality/value: This study aims to fill a gap in the literature and enhance a conceptual debate on the future of accounting when it concerns a blended value proposition.