Measuring social value in European science and technology parksA stakeholder-centric methodology for assessing its impact in society

Resumen

In recent years, Science and Technology Parks (STPs) have gained recognition for their pivotal role in fostering innovation and regional development. However, a noticeable research gap exists in assessing the social value (SV) generated by STPs for their reference communities. This study aims to bridge this gap by developing and testing a comprehensive methodology for analysing the generation and distribution of SV by STPs to key stakeholders. By doing so, it contributes significantly to the field of STP research and practice. The primary objective of this research is to introduce a fresh perspective on STPs, emphasising the quantification of SV produced by the constituent companies and organisations within the STP community. This approach, distinct from the traditional economic evaluation, adds a community-cantered dimension, shedding light on the role of STPs in generating SV and enhancing the well-being of the whole community of stakeholders of each park. The proposed methodology considers a diverse range of stakeholders, enabling the quantification (monetisation) of SV generated by the STP community for each group. It is grounded in Social Accounting principles and the Polyhedral Model of SV analysis. This research aligns with the New Business Narrative debate, focusing on stakeholder theory, and refines methodologies for quantifying value generation and distribution, specifically within STPs. This innovative methodology allows for comprehensive analysis using secondary data, minimising intrusiveness while maintaining result reliability. It shifts from using primary information to an approach based on secondary data related to companies and a minimal use primary data. It provides a reliable estimate of SV generated by the STP community and its distribution, as well as SV per employee and company. These insights are crucial for evaluating STP performance. The study follows a humanistic management approach, emphasising the centrality of individuals and communities in evaluating value generated by organisations. Furthermore, this research contributes to the broader field of STPs¿ generation of social value by introducing a novel methodology applicable to large corporate groups, such as sectors or clusters. In addition, the collaborating with the International Association of Science Parks and Areas of Innovation (IASP) has enhanced the practicality and usefulness of this approach for STPs in Europe. In conclusion, this study pioneers an innovative methodology for SV analysis within STPs, focusing on the distribution of that SV among stakeholders.