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  • 标题:The impact structure of social capital on corporate performance: Empirical evidence from listed companies in China
  • 本地全文:下载
  • 作者:Junwei Shi ; Haiyan Fu ; Lijun Hu
  • 期刊名称:Frontiers of Business Research in China
  • 印刷版ISSN:1673-7326
  • 电子版ISSN:1673-7431
  • 出版年度:2007
  • 卷号:1
  • 期号:1
  • 页码:135-154
  • DOI:10.1007/s11782-007-0009-9
  • 出版社:Higher Education Press, co-published with Springer-Verlag GmbH
  • 摘要:Vertical relationships with the government, particular relational capital and organizational social network capital, constitute corporate social capital (CSC). Using the empirical data of 97 listed companies in China, this paper examines the impact of CSC on corporate performance, finds that CSC has a positive impact on sales revenue but an insignificant impact on the improvement of ROA. More specifically, when a firm enlarges its sales revenue, the function of organizational network capital is stronger than that of a particular relational capital and that of governmental connections. The paper also finds that state-owned enterprises (SOEs) have more advantages in using governmental connections, therefore leading to better social status than non-SOEs do, who have fewer advantages in using any particular relational capital. The article suggests that managers should appraise carefully the effectiveness of CSC, and combine it with other resources; firms should distinguish the structure of the impact of CSC on performance improvement in a dynamic way. With respect to the implication of this paper, it could help in analyzing firm behaviors in the transitional China.
  • 关键词:social capital; corporate performance; listed company; China
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