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  • 2021
  • Working Paper
  • HBS Working Paper Series

Accounting for Product Impact in the Interactive Media and Services Industry

By: DG Park, George Serafeim and Katie Trinh
  • Format:Print
  • | Language:English
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Abstract

We apply the product impact measurement framework of the Impact-Weighted Accounts Initiative (IWAI) in two competitor companies within the interactive media and services industry. We design a monetization methodology that allows us to calculate monetary impact estimates for key welfare effects of social media, including addiction, depression, connectivity, and misinformation, among other effects identified in social media literature. Our results indicate substantial differences in the impact that competitors have through their products. These differences demonstrate how impact reflects corporate strategy and informs decision-making on industry-specific areas.

Keywords

Product Innovation; Impact; Impact Investing; Impact Measurement; ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Corporate Responsibility; Corporate Social Responsibility; Social Impact; Product Design; Product Positioning; Society; Product; Environmental Sustainability; Measurement and Metrics; Framework; Corporate Social Responsibility and Impact; Social Media; Technology Industry

Citation

Park, DG, George Serafeim, and Katie Trinh. "Accounting for Product Impact in the Interactive Media and Services Industry." Harvard Business School Working Paper, No. 21-134, June 2021.
  • SSRN
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About The Author

George Serafeim

Accounting and Management
→More Publications

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More from the Authors
  • Vytal: Packaging-as-a-Service By: George Serafeim, Michael W. Toffel and Stacy Straaberg
  • Northvolt: Building Batteries to Fight Climate Change (B) By: George Serafeim, Debora L. Spar, Peter Tufano, Hugo Etchegoyhen and Emilie Billaud
  • Climate Solutions, Transition Risk, and Stock Returns By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim
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