Social economy organizations (SEOs) represent the European Union's strong commitment to promoting the creation of welfare, employment, and social cohesion. This article examines the financial management model of these organizations by analyzing the impact of their available resources or capabilities on their economic performance and social activity and the possible mediating effect of their economic dimension as a strategic element in obtaining social achievements. In this study, we analyze 1,400 Spanish SEOs between 2009 and 2012 by using a structural equations model (SEM). Our results reveal that SEOs have their own financial management model that is characterized by the mediating role of economic performance and a high ability to adapt to changes in the environment.

Purpose Social economy organizations (SEOs) are a hybrid model where relations with stakeholders are managed using transparency mechanisms. The purpose of this paper is to analyze the role that online accessibility (which is understood to be a tool to implement transparency) has in raising financial resources and to assess its impact on economic and social achievements. Moreover, the authors study the interaction between online accessibility and external verification. Design/methodology/approach This study analyzes the behavior of 1,400 SEOs between 2009 and 2012 using a structural equation model and the MPLUS 7.4 software, which is based on covariance analysis. Findings The results show that transparency, which is understood as online accessibility, assists in raising financial resources and enhances SEO economic and social achievements. The authors also note that external verifications favor the economic achievements of SEOs but do not improve their social achievements. Research limitations/implications This research has two limitations: this study refers only to Spanish SEOs and no consensus exists on how to measure economic and social performance. Therefore, the conclusions should be considered with caution in other regulatory and cultural fields. The main implications of this work are the criteria the authors provide to help decision makers decide on the transparency model that SEOs should develop according to their management needs. Originality/value This study bridges a gap in the current research by increasing understanding of the role of accessibility as being the most important tool for an organization that strives to embody transparent behavior.