多维企业家社会资本、企业吸收能力与企业绩效研究

Entrepreneurs' Social Capital,Corporate Absorptive Capacity and Corporate Performance

基于社会资本理论,将企业家社会资本划分为市场、制度及金融3个维度,利用139家中国创业板上市公司数据,对企业家社会资本、企业吸收能力、企业财务绩效及创新绩效的内在关系进行实证分析。实证结果表明,企业家市场社会资本对企业财务绩效和创新绩效具有显著的正向影响,企业吸收能力与企业财务绩效及创新绩效显著正相关。企业吸收能力正向调节企业家市场社会资本与企业财务绩效和创新绩效的关系,也正向调节企业家制度社会资本与企业创新绩效的关系。

Based on the theory of social capital,entrepreneurs＇ social capital is divided into three dimensions：market,system and finance.Using the data from the 139 Chinese gem listed companies,we want to explore the internal relations among entrepreneurs＇ social capital、absorptive capacity and corporate performance（both financial performance and innovation performance）.Results reveal that market social capital and absorptive capacity both have a direct and significant impact on financial performance and innovation performance.Further,compared to low-level absorptive capacity,highlevel will reinforce the relationship between market social capital and corporate performance（both financial performance and innovation performance）,and reinforce the relationship between system social capital and innovation performance,absorptive capacity acts as a moderating role between them.