FROM WELL-BEING THEORY TO BUSINESS PRACTICE: A COMPARATIVE ANALYSIS OF BENEFIT MODELS AND NEW ACCOUNTING STANDARDS

This article examines the convergence between welfare economics and the recent purpose driven evolution enterprise models , with a specific focus on benefit corporations and the emerging global standards of impact accountability . Building on the theory foundations of the new welfare economics from Bentham's utilitarianism to the contributions of Pigou, Bergson, Arrow and Sen the study investigates how the principles of efficiency, equity and social welfare are operationalized within contemporary legal forms that integrate profit -making with the pursuit of collective benefit. The analysis adopts a comparative perspective, exploring the diffusion of benefit corporations across the United States , Europe and Latin America, as well as the parallel rise of Certified B Corporations promoted by B Lab. Particular attention is devoted to the role of impact- measurement instruments , including the B Impact Assessment (Version 7), ESRS, GRI Standards and SROI, which enable multidimensional objectives to be translated into verifiable and comparable indicators. Furthermore, the paper highlights the growing integration between public policies such as the EU Clean Industrial Deal, Green and Socially Responsible Public Procurement and due diligence obligations and private initiatives oriented toward social and environmental value creation.