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	社会资本、多元化战略与公司业绩——基于企业家嵌入性网络的分析视角; Social Capital, Diversification Strategy and Firm Performance: Based on the Perspective of the Entrepreneur's Embedded Network
	游家兴 ; 邹雨菲
	2014-10-08
关键词	企业家社会资本 多元化战略 公司业绩 Social Capital of the Entrepreneur Diversification Strategy Firm Performance
英文摘要	本文以我国2005-2010年民营上市公司为样本,基于企业家嵌入性网络的视角对社会资本、多元化战略与公司业绩之间关系展开分析。实证结果表明,企业家社会资本不仅对公司多元化经营战略有积极推动作用,而且这种作用在法律制度建设较为薄弱的地区会更加突显。进一步研究表明,尽管多元化经营会损害企业绩效,但企业家社会资本会促使公司能力与多元化战略更加协同,能够显著减少多元化折价程度。本文在社会资本理论框架下对公司多元化现象展开讨论,不仅回答了企业家社会资本是否会对公司多元化产生影响的问题,而且回答了企业家社会资本是否作用于多元化与公司绩效二者关系的问题,丰富了多元化的相关研究。同时,本研究对于我们认识非正式制度在我国民营企业成长道路上的积极作用有着重要的启示。; This article investigates the economic consequences of social capital owned by entrepreneurs on diversification strategy and firm performance.We set up the composite index to capture the entrepreneurs' social capital from three dimensions including network relationship, network status and network reputation.Using the sample of the private listed firms from 2005 to 2010 in China, we find that the social capital owned by the entrepreneur plays a positive role in the diversification strategy.In the areas where the legal system construction is poor, this positive effect will be strengthened.The further evidence shows that although the diversification strategy may destroy firm performance, the entrepreneurs' social capital can make firm capability to match their diversification strategy to a higher degree and decrease this negative effect from the diversification.Our findings contribute to the literature in several ways.First, we try to introduce the concept of social capital to explain the cause and consequence of the diversification.And we explore whether the entrepreneurs' social capital plays a part in the relationship between the diversification strategy and firm performance.It also takes a step toward reconciling the mixed evidence for the effects of diversification strategy on firm performance by demonstrating a sharp difference between firms under different social capital owned by their entrepreneurs.Second, we provide evidence to the ongoing debate on the exact role of entrepreneurs' social network in China, which helps us to know the important role of informal rules on the growth path of the transitional economies' private firms.Third, this study offers insights to policy makers who are interested in improving corporate performance in transitional economies such as China, where CEOs have rich social connections.It also provides a deep perspective for the boards in private firms, allowing them to deal with the relationship between the entrepreneurs' social network and the diversification strategy in a healthy way.; 国家自然科学基金项目(71232005、71472161)资助
语种	zh_CN
内容类型	期刊论文
源URL	[http://dspace.xmu.edu.cn/handle/2288/103191]
专题	管理学院－已发表论文
推荐引用方式 GB/T 7714	游家兴,邹雨菲. 社会资本、多元化战略与公司业绩——基于企业家嵌入性网络的分析视角, Social Capital, Diversification Strategy and Firm Performance: Based on the Perspective of the Entrepreneur's Embedded Network[J],2014.
APA	游家兴,&邹雨菲.(2014).社会资本、多元化战略与公司业绩——基于企业家嵌入性网络的分析视角..
MLA	游家兴,et al."社会资本、多元化战略与公司业绩——基于企业家嵌入性网络的分析视角".(2014).

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