The concept of social capital in economic theory

Cvetanović, Slobodan; Despotović, Danijela; Filipović, Milorad

doi:10.5937/ekonomika1501073c

Cited by 9 publications

(7 citation statements)

References 13 publications

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“…Social networks provide opportunities for both bridging and bonding social capital for seeking information (Tian, 2016). In the business context, a social network refers to the number of relationships and sharing resources (Tubadji, 2014), which allows individual achieve his expected performance (Cvtanovic et al, 2015). Knowledge absorptive capability is essential for the firms to harness the meaningful information, which springs from the customer network and the business partners (Wang and Byrd, 2017).…”

Section: Literature Review Social Capital Theorymentioning

confidence: 99%

“…This study focused on the small-medium enterprises, which has historically provided an exemplary site for the development of social capital theory (Cvtanovic et al, 2015;Bocconcelli et al, 2016;Gao et al, 2016;Pratono, 2016) but raises issues of generalizability across different contexts. The insights of this study may be particularly relevant to other types of organization and fields in which significant power differentials exist between actors.…”

Section: Limitation and Future Research Directionmentioning

confidence: 99%

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From social network to firm performance

Pratono

2018

MRR

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Purpose The purpose of this study is to develop a structural equation model to explain the complex relationship between social network and firm performance by introducing the mediating role of trust, selling capability and pricing capability. Design/methodology/approach The research model with hypothesis development was derived based on the literature. To provide empirical evidence, this study carried out a survey in which the data were equated with a list of questionnaires with a random survey of 380 small and medium enterprises (SMEs) in the Indonesian context. Findings This study indicates that the use of social media in management process will not affect the increasing firm performance, unless the firms build trust upon social networks. The social network with trust allows the firms to gain a pricing capability and a selling capability, which brings a positive impact on firm performance. The results also show that the selling and the pricing capabilities become essential following the utilizing the social media, which concerns on trust building. Research limitations/implications This study focused on the small-to-medium context, which has conventionally provided an exemplary site for the development of social capital theory but raises issues of generalizability across different contexts. Practical implications To the managers, it is advisable to encourage their employees to consciously exploit the selling capability by enhancing the business networks via social media to achieve the firm performance. Originality/value This paper contributes to the social capital theory by explaining the mediating role of trust in the complex relationship between social network and firm performance. This study provides evidence that trust plays a pivotal role in social networks, which enable the observed firms to achieve the performance.

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Section: Literature Review Social Capital Theorymentioning

confidence: 99%

Section: Limitation and Future Research Directionmentioning

confidence: 99%

From social network to firm performance

Pratono

2018

MRR

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“…Bourdieu develops the theory with economic term that social capital is associated with amount of relationships and partners' resource, which is then extend the concept of cultural capital (Tubadji, 2014). Coleman develops the concept in the context of social interdependency that allows individual success (Cvtanovic et al, 2015).…”

Section: Social Capital Theorymentioning

confidence: 99%

Network structure and open innovation: the role of trust in product development

Pratono

2018

IJBIR

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The challenge of implementation of open innovation to new product development does not only spring from the margin of managerial action but also from network structure. However, there is a complex relationship between network structure and product development that allows firms to achieve performance. Along with the survey on SMEs in the Indonesian context, this study demonstrates empirically that firms with extended expansion of network structures will not achieve per performance, unless they can build trust and product development capability upon the networks. The result confirms that combination between social capital theory and dynamic capability enhances the explanation on firm performance.

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“…On the other hand, however, the majority of Iranian people are caught in a circle of poverty and unemployment, and simultaneously looting, hoarding, and panic-buying have caused a decrease in public trust and social cohesion. Since the components of social capital, i.e., trust, relationships, and social networks, can be transformed into economic capital [ 48 ], social capital will also be damaged if there is an abnormality in economic capital. Charitable donations to the poor are a temporary solution to this problem.…”

Section: Discussionmentioning

confidence: 99%

The Social Consequences of the Novel Coronavirus Disease (COVID-19) Outbreak in Iran: Is Social Capital at Risk? A Qualitative Study

Motamed-Jahromi

Kaveh

2021

Interdisciplinary Perspectives on Infectious Diseases

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As well as causing a global health crisis, the COVID-19 pandemic has also generated multilevel social changes by damaging psychosocial and economic resources across Iranian society. Therefore, this qualitative study was conducted to examine and explain these social consequences and their impact on the social capital of Iran during the COVID-19 outbreak. Using a content analysis approach, nine experts participated in semistructured, in-depth interviews. Interviews were recorded and transcribed verbatim and analyzed using Lundman and Graneheim’s method. The social impacts of COVID-19 can be summarized into six categories and 32 subcategories. Three positive-negative categories emerged from the data analysis: “formation of new patterns of social communications; formation of new patterns of behavior; creation of economic changes.” Three entirely negative categories included “creating a climate of distrust; disruption of cultural, social, and religious values; psychosocial disorders.” Overall, most findings (27 out of 32 subcategories) indicated the destructive effects of the COVID-19 pandemic on social capital. Therefore, this raises concerns about social capital endangerment in Iran. However, positive social impacts can guide policies that strengthen social action and improve social capital.

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The concept of social capital in economic theory

Cited by 9 publications

References 13 publications

From social network to firm performance

From social network to firm performance

Network structure and open innovation: the role of trust in product development

The Social Consequences of the Novel Coronavirus Disease (COVID-19) Outbreak in Iran: Is Social Capital at Risk? A Qualitative Study

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