The role of social capital in corporations: a review
This article reviews the literature on the role of social capital in the economy, with a particular emphasis on its importance for corporations. We relate social capital to concepts such as trust and corporate culture, and discuss and propose various metrics that capture social capital at the firm l...
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| Published in: | Oxford review of economic policy 2017-07, Vol.33 (2), p.201-220 |
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| Main Authors: | , |
| Format: | Article |
| Language: | eng |
| Online Access: | Get full text |
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| Summary: | This article reviews the literature on the role of social capital in the economy, with a particular emphasis on its importance for corporations. We relate social capital to concepts such as trust and corporate culture, and discuss and propose various metrics that capture social capital at the firm level, including firms' corporate social responsibility (CSR) efforts. We summarize the extant research on the relation between social capital and both firm value and stock market performance. Finally, we analyse whether firms are investing enough in social capital. Throughout our discussion, we propose several avenues for further research. |
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| ISSN: | 0266-903X 1460-2121 |