Drivers of High SROI in PR-Based Stunting Alleviation Programmes

Ardiansyah Ardiansyah, Driana Leniwati

Abstract


Accounting has evolved beyond measuring financial performance toward evaluating broader social, environmental, and economic value creation. Social Return on Investment (SROI) is a widely used method for quantifying social impact by converting outcomes into monetary values. This study examines the factors behind an exceptionally high SROI ratio in a corporate stunting alleviation program, focusing on the contribution of Public Relations Value (PR Value) as a benefit. Using an evaluative qualitative approach, the study applies the SROI framework to a stunting alleviation program implemented by a state-owned port and logistics company in Surabaya, Indonesia. Data were collected through document analysis, in-depth interviews, participatory observation, and publication footprint analysis. The SROI process included stakeholder identification, theory of change development, outcome monetisation, and adjustments for deadweight, attribution, displacement, and drop-off. Findings show an SROI ratio of 1:45, meaning every IDR 1 invested generated IDR 45 in social value. However, this result was largely driven by PR Value from positive media exposure and reputational gains, exceeding direct benefits to beneficiaries. While PR Value strengthened corporate reputation, legitimacy, and stakeholder trust, its dominance may distort social impact measurement.

Keywords


Social Return on Investment; Stunting Alleviation; Public Relations Value; Legitimacy Theory; Social Program Evaluation.

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DOI: https://doi.org/10.17509/jpak.v14i2.99877

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