Social impact measurement (SIM) is a mechanism to monitor and communicate social and environmental performance to varying constituents. In formalised contexts, SIM is a central element of governance and accountability. Yet in emerging settings, where there are little or no institutional expectations for SIM, it is generally not required. In this study we examine an unusual phenomenon in emerging social industries, namely, why would social entrepreneurs engage in social impact measurement when they are not required to do so? To answer this question, we map responses of 152 social entrepreneurs in Chile to understand the drivers behind their SIM practices. First, we identify four novel approaches to SIM: forward-looking and outcome-driven; inward-looking and process-driven; outward-looking and market-driven; outward-looking and public-driven. The component parts of each approach explain why and how social entrepreneurs engage in SIM, despite the absence of formal institutional pressures. Second, we introduce a typology for policymakers interested in motivating SIM within emerging contexts.

Professor Pablo Munoz Roman, Chair Professor and Director of the Centre for Entrepreneurship at the University of Liverpool Management School. Dr Munoz Roman's research examines how, why and with what consequences entrepreneurial individuals and communities address wicked problems and create societal and ecological value through business activities; with or without economic return. He focuses on two areas: entrepreneurship, society and ecology and entrepreneurship in the periphery. Across these areas he looks at the venturing process: its determinants, mechanisms and outcomes, individual and collective decision-making, territorial and social embeddedness, and the overall contribution of this form of entrepreneurship to sustainable development.