社会资本与企业绩效间的权变关系

A Contingent Relationship between Social Capital and Firm Performance

本文在回顾国内外关于企业社会资本与企业绩效间关系的研究的基础上,利用261家企业的样本数据,对企业社会资本与企业绩效间的关系,以及企业发展阶段在两者关系间的调节作用进行了实证研究。结果表明:(1)管理层社会资本与进入成熟稳定期之前的企业财务绩效具有U型关系,与处于成熟稳定期的企业财务绩效具有倒U型关系。(2)供应商社会资本与进入成熟稳定期之前的企业财务绩效具有U型关系,与处于成熟稳定期的企业财务绩效具有倒U型关系。(3)客户社会资本与进入成熟稳定期之前的企业非财务绩效具有倒U型关系,与处于成熟稳定期的企业非财务绩效具有U型关系。

The paper reviews the studies of domestic and foreign scholars on social capital and the relationship between social capital and firm performance. The relationship between social capital and firm performance and the contingency role of the development stage of enterprise are examined by analyzing the data from 261 effective questionnaires. The results show that the management and supplier social capital have a U-shape influence on the financial performance to enterprises in the initial period and the high speed development period,but they have an upend influence on the financial performance to enterprises in the stable period. Besides,customer social capital has an upend influence on the non-financial performance to enterprises in the initial period and the high speed development period,but it has a U-shape influence on the non-financial performance to enterprises in the stable period.