Showing papers on "Individual capital published in 2017"

Building a Network Theory of Social Capital

Abstract: This chapter reviews social capital as discussed in the literature, identifies controversies and debates, considers some critical issues, and provides conceptual and research strategies for building a theory. It argues that such a theory and the research enterprise must be based on the fundamental understanding that social capital is captured from embedded resources in social networks. Such measurements can strength of tie network bridge, or intimacy, intensity, interaction and reciprocity be made relative to two frameworks: network resources and contact resources. There are many other measures, such as size, density, cohesion, and closeness of social networks which are candidates as measures for social capital. Network locations are necessary conditions of embedded resources. By considering social capital as assets in networks, the chapter discusses some issues in conceptualization, measurement, and causal mechanism. A proposed model identifies the exogenous factors leading to the acquisition (or the lack) of social capital as well as the expected returns of social capital.

Social Capital: Theory and Research

Abstract: Leading scholars in the field of social networks from diverse disciplines present the first systematic and comprehensive collection of current theories and empirical research on the informal connections that individuals have for support, help, and information from other people. Expanding on concepts originally formulated by Pierre Bourdieu and James Coleman, this seminal work will find an essential place with educators and students in the fields of social networks, rational choice theory, institutions, and the socioeconomics of poverty, labor markets, social psychology, and race. The volume is divided into three parts. The first segment clarifies social capital as a concept and explores its theoretical and operational bases. Additional segments provide brief accounts that place the development of social capital in the context of the family of capital theorists, and identify some critical but controversial perspectives and statements regarding social capital in the literature. The editors then make the argument for the network perspective, why and how such a perspective can clarify controversies and advance our understanding of a whole range of instrumental and expressive outcomes. Social Capital further provides a forum for ongoing research programs initiated by social scientists working at the crossroads of formal theory and new methods. These scholars and programs share certain understandings and approaches in their analyses of social capital. They argue that social networks are the foundation of social capital. Social networks simultaneously capture individuals and social structure, thus serving as a vital conceptual link between actions and structural constraints, between micro- and macro-level analyses, and between relational and collective dynamic processes. They are further cognizant of the dual significance of the "structural" features of the social networks and the "resources" embedded in the networks as defining elements of social capital.

Network Capital in a Multilevel World: Getting Support from Personal Communities

Abstract: For society, network capital conveys resources, confirms identity, influences behavior, and reinforces integrative links between individuals, households, and groups. Multilevel analysis is just starting to be used in sociology to integrate "nested data" into a single statistical model, such as occurs with residents in neighborhoods, children in schools, nation-states in world systems, individuals and ties in personal networks. Multilevel analysis shows that network characteristics do not affect the relationship of tie strength to support. In the loosely coupled world of contemporary personal communities, strong ties function somewhat independently of the networks in which they are embedded. This multilevel approach has two advantages. First, it provides estimates of the effects of variables at the individual, tie, and network levels while controlling for effects at the other levels. Second, it captures elusive interactive effects of network capital by examining how the composition and structure of networks affect individual and tie supportiveness.

Twenty years of social capital and health research: a glossary

Abstract: Research on social capital in public health is approaching its 20th anniversary. Over this period, there have been rich and productive debates on the definition, measurement and importance of social capital for public health research and practice. As a result, the concepts and measures characterising social capital and health research have also evolved, often drawing from research in the social, political and behavioural sciences. The multidisciplinary adaptation of social capital-related concepts to study health has made it challenging for researchers to reach consensus on a common theoretical approach. This glossary thus aims to provide a general overview without recommending any particular approach. Based on our knowledge and research on social capital and health, we have selected key concepts and terms that have gained prominence over the last decade and complement an earlier glossary on social capital and health.

The Human Capital Hoax: Work, Debt and Insecurity in the Era of Uberization:

Abstract: Human capital theory – developed by neoclassical economists like Gary Becker and Theodore Schultz – is widely considered a useful way to explain how employees might enhance their value in organizat...

How Doctors Gain Social and Economic Returns in Online Health-Care Communities: A Professional Capital Perspective

Abstract: An online health-care community (OHC) is a novel channel through which doctors share medical or health-care knowledge with patients. While the sustainable development of an OHC relies on doctors’ p...

Refugee-entrepreneurship: a social capital perspective

Abstract: This paper seeks to identify the characteristics of refugee-entrepreneurial startups, which distinguish them from other immigrant entrepreneurial ventures. The author employed a single case analysi...

Social Media Social Capital, Offline Social Capital, and Citizenship: Exploring Asymmetrical Social Capital Effects

Abstract: In pursuit of a healthier and participatory democracy, scholars have long established the positive effects of social capital, values derived from resources embedded in social ties with others which characterize the structure of opportunity and action in communities Today, social media afford members of digital communities the ability to relate in new ways In these contexts, the question that arises is whether new forms of social capital associated with the use of social media are a mere extension of traditional social capital or if they are in fact a different construct with a unique and distinct palette of attributes and effects This study introduces social media social capital as a new conceptual and empirical construct to complement face-to-face social capital Based on a two-wave panel data set collected in the United States, this study tests whether social capital in social media and offline settings are indeed two distinct empirical constructs Then, the article examines how these two modes of so

The Negative Effects of Social Capital in Organizations: A Review and Extension

Abstract: Numerous studies have examined the positive effects of social capital in organizations, whereas the possible negative effects have attracted considerably less scholarly attention. To rectify this imbalance, this paper first undertakes a rigorous review of the published scholarly empirical evidence pertaining to the negative effects of social capital in organizations through a search of Web of Knowledge and Scopus, and then enumerates six potentially negative effects arising from increased levels of social capital. The review focuses on negative effects arising from bonding social capital and those arising from dense networks and closure, advancing new theory to elucidate the generative mechanisms that give rise to the proposed negative effects. Finally, the authors identify potential moderators of the negative effects thus theorized. Using the lens of social identification theory, the authors argue that dysfunctional identification processes restrict the processing of information and stimulate over-commitment to established relationships, diluting in turn the dialectical process, and inhibiting individual learning within organizations, culminating in groupthink, the postponement of structural adjustments, the non-rational escalation of commitment, and the blurring of firms’ boundaries. This review thus furthers the agenda of a more balanced inquiry into the effects of social capital in organizations.

Theory and Measurement in Social Capital Research

Abstract: In 1988, James Coleman observed that “social capital is defined by its function. It is not a single entity but a variety of different entities, with two elements in common: they all consist of some aspect of social structures, and they facilitate certain actions of actors-whether persons or corporate actors-within the structure.” If one looks at the state of social capital research, it is clear that this is truer than ever before. This paper seeks to help researchers overcome the major challenges of social capital research, namely, measuring a concept that is notoriously difficult for measurement and choosing among the exhaustive list of direct, casual and consequential measures. It does so by arguing for a typology of social capital that considers five major types of social capital and then reviewing a diverse selection of data available from national surveys. This provides a resource for scholars wishing to pursue large-scale social capital research. Additionally, it draws six lessons from this body of theory and measurement to improve the study of social capital.

Family social capital and health – a systematic review and redirection

Abstract: The level (or scale) at which social capital can be conceptualised and measured ranges potentially from the macro-level (regional or country level), to the meso-level (neighbourhoods, workplaces, schools), down to the individual level. However, one glaring gap in the conceptualisation of social capital within the empirical literature has been the level of the family. Our aim in this review is to examine the family as the 'missing level' in studies on social capital and health. To do so, we conducted a systematic review on the use and measurement of this notion in the health literature, with the final intention of articulating a direction for future research in the field. Our findings are consistent with the notion that family social capital is multidimensional and that its components have distinct effects on health outcomes. Further investigation is needed to understand the mechanisms through which family social capital is related to health, as well as determining the most valid ways to measure family social capital.

Human capital matters: Market valuation of firm investments in training and the role of complementary assets

Abstract: Research summary: This article empirically examines the economic value to firms of investing in the training of their employees and firm-level factors that influence how much the firms benefit. Event study methodology is used to obtain a measure of the economic impact of information regarding a firm's human capital management investments and policies. Subsequent regression analyses are then used to test hypotheses regarding possible complementary relationships between firm-level factors and human capital investments. Results provide robust support for the proposition that effective investments in human capital and training matter, and that these human capital investments are more impactful when combined with complementary assets of R&D, physical capital, and advertising investments. Managerial summary: Do firm investments in training and the development of employee human capital matter with regard to financial performance? We find that, yes, these investments do matter. Our results show that managers who view employee human capital as an asset to be invested in and developed can expect to outperform those who view it as a cost to be minimized. In addition, we find that these human capital investments will be of even greater economic value to firms when they have made complementary investments in R&D, physical capital, and advertising. Copyright © 2016 John Wiley & Sons, Ltd.

The role of human capital and innovation in economic development: evidence from post-Malthusian Prussia

Abstract: The effect of human capital on growth involves multiple channels. On the one hand, an increase in human capital directly affects economic growth by enhancing labor productivity in production. On the other hand, human capital is an important input into R&D and therefore increases labor productivity indirectly by accelerating technological change. In addition, different types of human capital such as basic and higher education or training-on-the-job might play different roles in both production and innovation activities. We merge individual data on valuable patents granted in Prussia in the late nineteenth-century with county-level data on literacy, craftsmanship, secondary schooling, and income tax revenues to explore the complex relationship between various types of human capital, innovation, and income. We find that the Second Industrial Revolution can be seen as a transition period when it comes to the role of human capital. As in the preceding First Industrial Revolution, “useful knowledge” embodied in master craftsmen was related to innovation, especially of independent inventors. As in the subsequent twentieth century, the quality of basic education was associated with both workers’ productivity and firms’ R&D processes. In a final step, we show that literacy had also a negative effect on fertility which increased with innovation. In general, our findings support the notion that the accumulation of basic human capital was crucial for the transition to modern economic growth.

Governance and sustainable tourism: What is the role of trust, power and social capital?

Abstract: This editorial introduction to the special issue posits that governance and sustainable tourism research will benefit from a joint treatise of trust and other key governance concepts such as power and social capital. It introduces the concept of governance in the context of sustainable tourism development. The discussion then delves into the theoretical perspectives on trust, power, and social capital and exemplifies their contributions to tourism governance and sustainable tourism. A typology of social capital potentially useful in sustainable tourism research is developed. The typology emphasizes on the positive aspects of social capital and the challenges the concept presents for governance and sustainability. Good governance and sustainable tourism research arguably has privileged the concept of power to the detriment of trust in social relationships. The collection of papers of this special issue is situated within these debates. An agenda for further research in this area is presented by way of conclusion.

Capital Unchained: Finance, Intangible Assets and the Double Life of Capital in the Offshore World

Abstract: The rise of intangible assets such as brand names, research and development, patents and other forms of abstract capital such as digital platforms and data flows has confounded extant measures and concepts of capital and accumulation. What used to be a residual asset category known as ‘goodwill’ has now overtaken so-called fixed or tangible assets in the profitability and valuation of many leading corporations. Yet these intangible assets lead a double life as both spatial and temporal in some dimensions, yet fluid and spatio-temporally elusive in others. Using a framework focused on measuring (by accountants), managing (by corporations) and monitoring (by International Political Economy scholars and regulators), this article explores the longer term implications of accumulation of internationalised capital in intangible and abstract forms, and the prominent role of finance and offshore in giving mobility and fluidity to these forms of capital. The article suggests that while global value chain an...

The international effect of managerial social capital on the cost of equity

Abstract: We examine the effect of managerial social capital on the firm's cost of equity capital. We argue that social ties alleviate information asymmetry and agency problems, which in turn leads to a decrease in the cost of equity. Using a large panel of companies from 52 countries over the period 1999–2012, we document that social capital inversely affects the cost of equity. Our evidence suggests that the association between social capital and the cost of equity capital is stronger in underdeveloped financial markets and those characterized by weak legal protection. The marginal effect of social capital is also stronger for constrained firms with profitable investment opportunities. Our results are robust to alternative model specifications and tests for endogeneity.

Struggling with social capital : Pakistani women micro entrepreneurs’ challenges in acquiring resources

Abstract: A crucial aspect of successful venturing is social capital. In contrast to traditional Western-oriented research where social capital is construed positively, we found that in the traditional, patriarchal society of Pakistan, social capital puts high restrictions on women micro entrepreneurs – where social capital prevents or slows venturing efforts. Results also show that although women do get some selective access to resources from family members, they are restricted by limited access to social capital outside of family members. As women entrepreneurs have the potential to play an important role in the development of any society, and especially so in developing countries, based on the insights derived from this qualitative study, we propose suggestions for further research on women micro entrepreneurs in non-Western contexts.

Entrepreneurial intentions of Colombian business students: planned behaviour, leadership skills and social capital

Abstract: Purpose: This paper reconceptualizes the Theory of Planned Behaviour (TPB) in the light of social cognitive theory to investigate the role of social capital, and specifically leadership skill as a social capital generating influence in formation of entrepreneurial intentions. Methodology: A new conceptualization of TPB is proposed to allow the impact of bonding and bridging cognitive social capital to be mediated by TPB constructs of perceived desirability and feasibility of entrepreneurship. Hypotheses are developed related to leadership skills, family background and social norms as external and internal indicators of social capital, and tested on primary data from 322 student respondents in a Colombian business school. Findings: Leadership skills, indicative of bridging cognitive social capital, are found to be strongly and significantly associated with entrepreneurial intentions through the mediating role of the core TPB constructs. Evidence for the role of bonding social capital through measures of the social acceptability of entrepreneurship and family background is mixed, and in the case of family background no indirect association with intentions is found. Research limitations/implications: Although the Latin American context would suggest significant population variation in personal and background resource, there is relatively little variation across this sample, particularly in terms of family background. Thus rates of graduate entrepreneurship may relate more closely to constraints acting on entry into higher education than on other background characteristics, and therefore that future work in similar contexts ought to be conducted across a wider socio-economic sample. Practical implications: Opportunities to develop and enhance student perception of leadership ability through either education or experience might improve levels of graduate entrepreneurship, alongside traditional activities to raise self-efficacy and perceived salience of entrepreneurship. Originality/value: Student leadership skills have rarely been addressed in the context of entrepreneurship development. This paper highlights the relevance of this in a developing economy context.

Firm‐specific human capital investments as a signal of general value: Revisiting assumptions about human capital and how it is managed

Abstract: Research summary: Prior scholarship has assumed that firm-specific and general human capital can be analyzed separately. This article argues that, in some settings, this is not the case because prior firm-specific human capital investments can be a market signal of an individual's willingness and ability to make such investments in the future. As such, the willingness and ability to make firm-specific investments is a type of general human capital that links firm-specific and general human capital in important ways. The article develops theory about these investments, market signals, and value appropriation. Then, the article examines implications for human resource management and several important questions in the field of strategic management, including theories of the firm and microfoundations of competitive advantage. Managerial summary: While managers don't often use the terms firm-specific and general skills, they certainly recognize that investments employees make in their skill sets are more or less relevant to a specific firm. For instance, investing in specific relationships within a firm or learning a firm's proprietary software would be considered firm-specific investments. While such skills may seem relevant only to the particular firm in which they were invested, these investments may also send valuable signals to competing firms that such employees are willing and able to make similar investments elsewhere. Hence, managers should be interested in determining if a potential hire has made prior firm-specific investments to help them know whether that person might be likely to make such investments in his or her future place of employment. Copyright © 2016 John Wiley & Sons, Ltd.