corporate social responsibility, social value, blended value, materiality, accountability, stakeholder theory, ESG
Abstract
This article examines why social value assessment has become the new frontier of corporate social responsibility (CSR). The study argues that contemporary CSR is increasingly judged not by the visibility of responsible activities, but by the capacity of organizations to demonstrate socially meaningful and stakeholder-relevant value. Methodologically, the article applies a theoretical-conceptual research design based on conceptual analysis, critical literature synthesis, comparative interpretation, and analytical model building. The study develops the Materialized Blended Value Theory (MBVT), which conceptualizes social value as materially recognized stakeholder-relevant change within a blended value system. It also proposes a Four-Layer Model of Social Value Measurement in CSR, distinguishing intentional, delivered, experienced, and materialized value. The findings show that social value assessment should be understood not merely as a measurement technique, but as an emerging accountability architecture for contemporary CSR.
