Abstract

Global virtual teamwork has emerged as a cornerstone of collaborative teamwork in today’s work landscape, characterized by cross-border collaboration using digital technologies. Although research has started to investigate the mechanisms underlying effective teamwork through information and communication technologies (ICTs), an often-neglected dimension is the pivotal social context within which this collaboration unfolds. To address this research gap, this study adopts a social capital lens on teamwork in proposing social capital as a multidimensional mediator between the usage of ICTs and team effectiveness. The research model was tested using questionnaire data from 271 technologically sensitive and aware companies in the DACH region (Germany, Austria, Switzerland). The findings reveal that using multiple ICTs alone does not suffice for effective global virtual teamwork. Therefore, this study highlights the significance of social capital for the effectiveness of global virtual teamwork, which holds significant implications for theory and practice.

Introduction

Advances in information and communication technologies (ICTs), coupled with the increasing prevalence of globalization, have driven organizations to rely on digital technologies for globally distributed collaboration—so-called global virtual teamwork ( Tavoletti & Taras, 2023 ). Due to several benefits, such as time and cost savings, talent pooling, and increased team diversity, global virtual teams were already well established in today’s workplace before the COVID-19 pandemic ( Jimenez, Boehe, Taras, & Caprar, 2017 ; Kozlowski & Ilgen, 2006 ; Tavoletti & Taras, 2023 ). However, global virtual teamwork also presents significant challenges that can threaten team effectiveness. Reliance on ICTs reduces media richness and delays feedback, including an increased risk of miscommunication and misunderstanding ( Bilotta et al., 2021 ; Klitmøller & Lauring, 2013 ; Mangla, 2021 ).

Based on the premise that a single medium cannot support the two fundamental communication processes of conveyance (i.e., sharing new information) and convergence (i.e., reaching a common understanding), we introduce the concept of ICT usage, which refers to the frequent and strategic use of multiple ICTs ( Dennis, Fuller, & Valacich, 2008 ; Niinimäki, Piri, Lassenius, & Paasivaara, 2012 ). We propose that high levels of ICT usage will increase team effectiveness, which consists of performance, longevity, and satisfaction ( Dennis et al., 2008 ; Hackman, 1987 ).

Conclusion

The confluence of digitalization and globalization has had an enduring influence on utilizing virtual and global collaboration in the workplace. Due to their embeddedness in a social context, teams are a focal point of multiple levels, linking the individual team members and the organizational system holistically ( Kozlowski & Bell, 2013 ). This requires a profound comprehension of the social context, which can enhance the uptake of ICTs and the effectiveness of global virtual teamwork. To fill this research gap, we conceptualized social capital as a multidimensional mediator, encompassing structural, cognitive, and relational social capital ( Nahapiet & Ghoshal, 1998 ), between the adoption of ICTs and team effectiveness composed of performance, satisfaction, and longevity.

In summary, this study provides a solid foundation for integrating social capital in global virtual teamwork. The results of our study indicate that frequent use of multiple ICTs does not influence the effectiveness of global virtual teams. Instead, a significant positive relationship was found between ICT use and social capital. Regarding the individual dimensions of social capital, this relationship was only found for structural social capital. Similar results were obtained for the mediator hypotheses, with both total and structural social capital acting as strengthening mediators between ICT usage and team effectiveness. Conversely, cognitive and relational social capital did not show significant mediating effects. The present research context makes developing cognitive and relational social capital difficult, although their importance cannot be denied, as both social capital and its individual dimensions show a positive relationship with team effectiveness. Possible ways to build cognitive and relational social capital include allocating sufficient time for team interactions and creating shared physical spaces, such as face-to-face meetings, to balance them. Overall, our study provides insights into the extent to which the integration of social capital enhances team effectiveness in today’s digitized and globalized world.

Abstract

Using a unique dataset comprising 6313 firm-year observations for Chinese listed firms between 2008 and 2017, we investigate the impact of CEO social capital on cost of debt. Our results show that CEO social capital is negatively related to cost of debt, and the impact of CEO social capital in environments with a low degree of marketization or social trust is more pronounced than in environments with a high degree of marketization or social trust. Moreover, our results reveal that two potential mechanisms, discretionary accruals and information disclosure quality, mediate the impact of CEO social capital on cost of debt.

Introduction

Research into social capital in the area of social economics emerged late last century (e.g., Coleman, 1988 ; Putnam, 1993 , Putnam, 1995 ; Knack and Keefer, 1997 ; Uzzi, 1997 ; Portes, 1998 ; Woolcock, 1998 ; Dasgupta, 2005 ; Fafchamps, 2006 ). Prior studies have acknowledged the significance of the personal social capital embedded in social networks for corporate commercial activities, including corporate financing ( Engelberg et al., 2012 ; Ferris et al., 2017 ; Huang and Shang, 2019 ; Jin et al., 2019 ), corporate investment ( Faleye et al., 2014 ; Fracassi, 2017 ), mergers and acquisitions ( Fracassi and Tate, 2012 ; El-Khatib et al., 2015 ), executive employment and compensation policies ( Hwang and Kim, 2009 ; Fracassi and Tate, 2012 ; Nguyen, 2012 ; Engelberg et al., 2013 ; Ferris et al., 2020 ), risk-taking and accounting practices ( Ferris et al., 2017 , Ferris et al., 2019 ; Panta, 2020 ), and litigation risk ( Zhang et al., 2023 ). Personal social capital embedded in social networks, especially the social capital of corporate executives, has a significant influence on corporate financing. Social capital enhances the trust between borrowers and lenders and increases risk-taking behavior as social capital is seen as an informal insurance. As invisible social credit and a conduit for the exchange of information, CEO social capital benefits corporate financing activities.

We are motivated to investigate the connect between CEO social capital and cost of debt due to the complex institutional background of network and the importance of debt financing in the context of China. Despite China’s remarkable economic growth in recent decades, its financial and legal environments remain underdeveloped. Allen et al. (2005) suggest that in order to sustain this growth, China requires alternative governance mechanisms and informal institutional arrangements. In the Chinese context, China is characterized as a relationship-based society, where social capital embedded in social networks, known as “Guan Xi,” holds significant prevalence and complexity. These networks provide Chinese additional social resources such as information and status ( Song et al., 2012 ; Bian, 2019 ). For example, the CEOs and chairmen of Chinese non-state-owned firms use bank loans to raise funds through their political contacts ( Yu and Pan, 2008 ). Loan approvals and covenants for Chinese corporates are influenced by CEO social capital ( Shen et al., 2009 ; Xu and Li, 2016 ). CEO social capital is negatively associated with firm leverage and short-term debt ratio, and social capital lowers the need for corporate bank borrowing ( Huang and Shang, 2019 ), and the social capital benefits improving the quality of corporate loans ( Jin et al., 2019 ). These studies only reveal the impact of managerial social capital on corporate financing, while the research into the impact of CEO social capital on the cost of debt is relatively scarce, particularly in emerging markets such as China.

Conclusion

This study investigates the relationship between CEO’s social capital and cost of debt. We posit that CEO’s social capital offers incentives for CEOs to provide enhanced information transparency and quality, which lowers the monitoring costs for the borrowers, inducing reduced cost of debt. Additionally, CEO’s social capital creates a sense of trust between the lenders and the borrowers due to the informal tie that social capital creates among the networks. Using a unique dataset consisting with 6313 firm-year observations from the firms listed on the Shanghai and Shenzhen Stock Exchange markets from 2008 to 2017, our results suggest that CEO’s social capital reduces cost of debt in the context of China, and such effect is more pronounced when there is a lack of information verification from the regulators (i.e., marketization) and societal norm (i.e., social trust). Moreover, we find that CEO’s social capital reduces cost of debt through the path of reduced discretionary accruals and information disclosure quality. Our results hold after a battery of robustness checks, including the three individual proxies (betweenness centrality, closeness centrality and degree centrality) for CEO social capital, the two alternative proxies for cost of debt, sample without political capital, excess social capital, the consideration of family business characteristics, the interactive effect of state-owned enterprises and endogeneity concerns.

Abstract

Keywords

1. Introduction

2. Impression management and social media

3. Materialism as an antecedent of status-seeking impression management

4. Social capital as an outcome of impression management

5. Research questions

6. Method

7. Results

8. Discussion

Funding

Data availability statement

Author contribution statement

Submission declaration

Declaration of Competing interest

Acknowledgement

Appendix. Supplementary materials

References

Vitae

Abstract

     Individuals adjust their behavior on social media to varying extent, and commonly in their idealized way. Most studies have focused on the problems associated with materialism and social media use, yet their potential positive contributions remain less clear. In fact, impression management holds potential for both negative and positive: it has been linked with materialistic attitudes, but also increased amounts of self-reported social capital. This study examines how young people’s materialistic values connect with status-seeking impression management on social media, and subsequently to social capital, within the same model. Eight hundred Finnish participants aged 15–19 participated in our structured phone survey. We applied structural equation modeling to examine the connections between materialism, impression management, and online social capital. Our findings show that materialism is positively related to impression management, while impression management is positively associated with online social capital. Additionally, we found positive indirect effects between materialism and both bridging and bonding social capital through impression management. In sum, more materialistic young people who engaged in higher impression management had higher amounts of social capital.

Introduction

     Young people are heavy users of social media (e.g., Pew Research Center, 2021) and social media has become an inseparable part of their lives. As young people have unlimited access to social media, they are constantly exposed to various content and topics, including commercial content. At the same time with the emergence of commercial social media, materialism has increased among youth in the past decades (Twenge & Kasser, 2013) . According to Richins and Dawson (1992) materialism refers to consumers’ values, and their widely-used scale constitutes of three factors: the pivotal role of acquisitions in one’s life, pursuing happiness by means of acquisitions, and the determination of one’s success through possessions. There is already empirical research indicating that social media usage has a positive impact on materialism (e.g., Kamal, Chu & Pedram, 2013; Thoumrungroje, 2018).

     Social media has also provided a new arena for people to manage their impressions in their desired way ( (Baumeister & Bushman, 2015, p. 102). Impression management refers to people’s tendency to try to control and influence how others perceive them (Cole & Chandler, 2019; Leary, 2001). Theoretically, impression management derives from Goffman’s (1959) work, which suggested that when individuals are in front of others, they adjust their behavior so that it conveys their preferred impression to the audience (p. 4) . Studies have suggested that impression management is easier to control online than in face-to-face situations (Ellison, Heino & Gibbs, 2006; Fullwood, 2019; Ward, 2017) , and not least because people have far more time to consider their next steps online.

Results

     Table 4 presents the results of the measurement model, p-values, factor-loadings, and communalities of these variables. Latent factors were materialism, impression management, and social capital, which included two sub-factors: bridging and bonding. Table 5 shows correlations between latent factors. Modification indices showed that the model fit would improve if items’ (5 and 6) as well as (16 and 17) residual covariances could be estimated freely. These items had similar statement structure in the questionnaire, which explains why residual covariance existed. Therefore, their residual covariances were freely estimated in the analysis. Our measurement model (Fig. 2) showed a good fit: (accepted cut-off criteria in parenthesis) (Hu & Bentler, 1999; Yu & Muth´en, 2002) x2 = 405,423 df = 127, p < .001(>0.05), RMSEA = 0.052 (<0.06), CFI = 0.951 (>0.95), TLI = 0.941 (>0.95), SRMR = 0.047 (<0.08). Therefore, we were able to execute a further analysis of the model (SEM).

     Also, a test model (SEM) showed good model-fit: (cut-off criteria in parenthesis (Hu & Bentler, 1999; Yu & Muth´en, 2002) x2 = 386, 709, df = 129, p< .001 (>0.05), RMSEA = 0.050 (<0.06), CFI = 0.955 (>0.95), TLI = 0.946 (>0.95), SRMR = 0.048 (<0.08), which suggests that the tested model is acceptable. Although the significance of our Chi-square remains significant, it is highly sensitive to the big sample size (Kline, 2011, p. 201) and cannot be used as the only indicator for making decisions about model fit (Schermelleh-Engel, Moosbrugger & Müller, 2003). Therefore, we considered other diagnostics (CFI and TLI, see above) to assess the model fit. Fig. 3 illustrates the results of the SEM. The analysis revealed a positive and significant connection between materialism and impression management (ß = 0.58, p < .001). Likewise, impression management was significantly and positively related to the social capital, while the effect of impression management on bridging was (ß = 0.41, p < .001) and on bonding (ß = 0.14, p = .003). In addition, we found a significant and positive connection between bridging and bonding social capital (ß = 0.52, p < .001).

Abstract

1. Introduction

2. Hypothesis development

3. Sample and data

4. Research design

5. Results

6. Conclusion

Acknowledgements

References

Abstract

     We examine the role of CEO social capital as an important driver of the widespread practice of real earnings management (REM). Using the number of social connections to outside executives and directors to measure CEO social capital, we first find that well-connected CEOs associate with higher levels and volatilities of REM. The positive relation between REM and CEO network size is stronger when the CEO connects with more informed and influential persons, and when a more severe misalignment of interests can occur. Second, we find a contagion of REM among well-connected CEOs in an industry. Third, the level of REM induced by a large CEO social network associates negatively with future operating performance. This result is consistent with social capital circulating REM-related information ex-ante and increasing the power and influence for the CEO to deviate from optimal operating policies ex-post. Social capital shields the well-connected executive in the takeover and labor markets despite possible suboptimal future operating performance. While the prior literature finds that CEO social capital reduces accrual earnings management, our findings suggest a dark side of CEO social capital: it induces excessive levels and volatilities of REM costly to the firm in the long run while imposing relatively low personal risk on the top executive.

Introduction

     We examine whether executives’ social capital affects firms’ real earnings management (REM), a practice whereby a manager purposely alters the firm’s cash flow to report earnings based on departures from the timing or structuring of normal or optimal operations. Considering the pervasive and popular use of REM, especially after the Sarbanes-Oxley Act (Gilliam et al., 2015; Koh et al., 2008; Brown and Caylor, 2005; Larcker et al., 2013), a significant body of literature has examined what drives REM practices and their operating consequences (e.g., Barton and Simko, 2002; Demski et al., 2004; Ewert and Wagenhofer, 2005; Zang, 2012). However, extant studies overlook an important human factor underlying a decision to engage in REM, the social capital of the executive who develops and implements the financial reporting practices. We contribute to the literature by being the first to examine the impact on REM practices of CEO social capital and its role as an important channel through which REM affects future firm operating performance.

Conclusion

     Based on established proxies for real earnings management (REM), and after employing a wide array of controls for other possible factors, we find a positive relation between CEO network size and the level and volatility of REM. We theorize that this positive relation occurs because the information-sharing and power and influence channels from a large CEO social network enable the use of REM to confer net personal benefits on the connected executive. This may even make the practice firm-wise desirable in the short-term because the firm reports a superior trend of earnings, beats earnings benchmarks, and may reduce information asymmetry, all of which can increase firm value. In the long-term, however, we show that large REM adjustments by well-connected CEOs associate with worse future firm performance, even in the absence of detection. But with takeover and labor market insurance, a well-connected CEO may not care about the possibility of worse future firm performance from the consequences of departures from normal or optimal operations from the use of REM. These CEO network benefits may also explain the pervasive and successful use of REM in practice. To our knowledge, we are the first to show that larger CEO networks associate with higher levels of REM. Those higher earnings adjustments, however, can degrade firm performance in the longer term. Thus, when a large CEO network amplifies the power and influence of the top executive, our study indicates that such CEO networks have a darker side regarding future firm performance.

1- Introduction

2- Theoretical background

3- Research model and hypotheses

4- Research methods

5- Data analysis and results

6- Discussions and implications

References

Abstract

Taking Xianyu (Taobao second-hand platform) for an example, this study proposes a framework to identify the integrative effect of community and e-commerce on building the “trustworthiness” of online second-hand transaction platform. Research data was analysed by structural equation modelling based on 565 valid questionnaires. The results revealed that e-commerce service quality (system quality, security assurance, product variety and service support) and community quality had direct and interaction effects on users’ perceived trust, which consequently affected their transaction intention. The findings shed light on how web communities should be used to lead to optimal results in the context of online second-hand transaction.

Introduction

With the upgrade of consumption structure and the acceleration of product replacement, people have more and more idle belongings, which boost the prosperity of second-hand transaction market. China Business Network, one of the most influential finance media group in China, revealed that China had an idle market of 700 billion Yuan in 2018. With the increasing maturity of Internet technology and the receptivity of second-hand products, consumers, especially the new generation, prefer to carry out transactions on a reliable second-hand platform (Parguel et al., 2017). Encouraged by the huge business opportunities, giants in e-commerce, such as Alibaba Group, Tencent, 58.com and JD.com, step up the online layout around second-hand transaction one after another. Although these online second-hand transaction platforms have made great progress in recent years, there are still some important unsolved problems–trust is just among them. Unlike first-hand products, second-hand products are lack of evaluation standards applicable to their maintaining and maintenance, which will increase risk and uncertainty of the transaction. Therefore, as a prerequisite of successful transaction (Wei et al., 2019; Lin et al., 2015), trust is more critical in online second-hand platforms compared to those ordinary e-commerce platforms. Based on social capital theory, Social support and interaction from other members of the social networks will reduce the risk and uncertainty of members, thus enhancing their trust (Li et al., 2019; Wang et al., 2016). Considering the role of social interaction in users’ belief (Casaló & Romero, 2019; Chang et al., 2017; Hajli, 2014), an increasing number of enterprises are trying to integrate social network application into e-commerce to increase users’ trust. Xianyu, born out of Taobao Second-hand, puts forward the operation mode of “community + e-commerce”. As a counterpart for the virtual community, Fishpond, a column of Xianyu, provides a shared communicating and social platform for users who have common preferences or related businesses. According to data provided by Alibaba, there have been interactive users in Xianyu community, with a transaction conversion rate of 13.5%, and there are no interactive users in Xianyu community, with a transaction conversion rate of only 0.07%. It can be seen that the Fishpond community has an important impact on the smooth development of online second-hand transactions. However, the relevant theoretical and empirical research is still limited on how the community built on the second-hand platform affects users’ transaction intention.

1- Introduction

2- Literature review on project success/failure modeling

3- Complexity theory tenets

4- Methods

5- Findings

6- Discussion

7- Conclusion

References

Abstract

Applying complexity theory tenets, the study here contributes an asymmetric modeling perspective for examining resources orchestrations that indicate high (separately low) project management performance (PMP) accurately. Complexity theory tenets include recognizing that the causal conditions resulting in high PMP have different conditions (i.e., ingredients) typically than the causal conditions resulting in low PMP—adopting this perspective supports the usefulness of asymmetric point or interval estimation rather than the currently pervasive symmetric approach to theory construction and empirical modeling of variable directional relationships (VDR). This study constructs a general model and specific configurational propositions that include social capital, processes, and knowledge management effectiveness as causal conditions indicating case outcomes of high and separately low PMP. Using survey data, the study includes examining propositions and models empirically on the causal conditions for completed projects (n = 302, USA sample of executives in product and service industrial firms). The findings support the perspective that high (as well as low) PMP depends on resource orchestration (configurational) antecedent conditions. The findings serve to support the general proposition that applications of complexity theory in project management research respond effectively in building in the requisite variety for deep understanding and accurate forecasting of performance outcomes. This study includes contributions to theory and empirical research that support the perspective that separate sets of resource orchestrations of alternative complex antecedents (rather than a VDR, symmetric, net effects perspective) forecast high (low) project management performances accurately.

Introduction

Gigerenzer’s (1991) wisdom underpins the present study: what tools scientists use influences the theories that they construct and restricts/focus their data collection and interpretation of findings. He further notes, “The power of tools to shape, or even to become theoretical concepts is an issue largely ignored in both the history and philosophy of science” (Gigerenzer, 1990: 254). The pervasive adoption of correlation (r), multiple regression analysis (MRA), and structural equation modeling (SEM) in constructing and testing in research in general along with null hypothesis significance tests (NHSTs) without questioning the usefulness of these tools versus alternative tools illustrate the two quoted statements from Gigerenzer (1991). Given their pervasive use in project management, and the telling weaknesses of using r, MRA, and SEM as Armstrong (2012), Fiss (2007, 2011), Hubbard (2015), McCloskey (2002), Trafimow and Marks (2015), Wasserstein and Lazar (2016), Woodside (2019), and Ziliak and McCloskey (2008) describe, supports the call that the present study illustrates theoretically and empirically for moving away from symmetrical to asymmetrical theory construction and empirical analysis. This study proposes and tests two sets of issues in project management research.

1- Introduction

2- Conceptual background

3- Hypotheses

4- Research method

5- Data analysis

6- Discussion and implications

7- Conclusion

References

Abstract

Examining leadership from a competency perspective allows scholars to understand different dimensions of leader qualities and capacities. From this perspective, our study, based on social capital theory, proposed and tested a model that embraced the concepts of leader competency, knowledge sharing, employee job performance, and employee loyalty in the context of expatriate general managers. The study shows leader competencies are critical for promoting knowledge sharing and enhancing employee job performance. Both knowledge sharing and employee job performance are found to have a direct effect on employee loyalty.

Introduction

Well-performing service employees can be an asset and leaders play a critical role in influencing employees’ performance and the organization’s success. This is no exception to hotel organizations faced with increasing competition in the market place (e.g., Airbnb.com). Given the significant impact of leaders, numerous studies examined leader competencies (e.g., Shum, Gatling, & Shoemaker, 2018). Key research questions such as “what are the required qualities and skills of competent leaders?” and “what are the outcomes of leader competencies?” have surfaced and drawn attention, proliferating research in this field. Examining leadership from a competency perspective allows scholars to understand different dimensions of leader qualities and capacities. Although many studies (e.g., Han, Seo, Yeo, & Yoon, 2016; Masa’deh, Obeidat, & Tarhini, 2016) examined leadership style (e.g., transformational leadership), much less attention has been given to leader competencies in the hotel industry. Our study, by examining leader competencies in the hotel industry, will identify a set of required skills for hotel leaders and guide the hotel industry to develop and assess leaders. Knowledge sharing is recognized as an important social asset for organizations that improve job performance and enhance organizational success (Masa’deh et al., 2016; Razmerita, Kirchner, & Nielsen, 2016). We view that a leader plays a crucial part in creating and nurturing a knowledge sharing culture in the organization.

1- Introduction

2- Social networks, social capital, social support and higher education outcomes

3- Method

4- Description of the studies included in the review and major themes

5- Relationship between social networks, social capital, social support and academic achievement in higher education

6- Conclusion and discussion

References

Abstract

Widening higher education participation has resulted in efforts directed towards increasing higher education access. However, inequality in higher education completion continues to exist. Social factors have been found to play an important role in academic achievement. Given the role of social factors, this article examines the academic outcomes of students from a social network, social capital, and social support perspective with a special focus on underrepresented groups in higher education. The article is based on a systematic review of literature where evidence shows that the networks of students including their family, ethnic and religious affiliations, friends, and faculty play a role in academic success. The article details a framework describing how network members of underrepresented groups complement each other with regard to resources offered and contribute to academic success.

Introduction

Widening higher education participation has gained increased political focus globally in recent years, resulting in efforts directed towards expanding higher education access (Marginson, 2016; Osborne, 2003). Indeed, these political reforms have resulted in an increase in the number and diversity of students entering higher education. For instance, in the last ten years, the enrolment of students aged 25–34 years in tertiary education has increased in all OECD countries, with some countries e.g., Australia, Czech Republic, Greece, Iceland, Italy, the Netherlands, Switzerland even reporting an increase of over 10% (OECD, 2018). Furthermore, previously underrepresented groups such as students from low social background are now increasingly becoming a part of the higher education system. Nonetheless, disparities in education achievement continue to exist as increased participation within these groups alone cannot guarantee academic success (Crozier, Reay, Clayton, Collinader, & Grinstead, 2008; Marginson, 2016). It is observed that first-generation learners (Müller & Schneider, 2013; OECD, 2018), those with migration background (Ebert & Heublein, 2017) are still at-risk of dropping out of university without obtaining a degree. The achievement gap between students from high and low socio-economic backgrounds can be attributed partly to the differences in family’s resources vis-à-vis finances, academic guidance or information, parental involvement or language skills (Willingham, 2012). Alongside family members, the role of peers and support groups at university also influence academic outcomes. Hossler, Schmidt, and Vesper (1999) highlight the importance of peer support in improving understanding of course materials and clarifying difficult concepts (Gallop & Bastien, 2016). Peer support and networks also determine student’s integration and acceptance in higher education institutions which subsequently affects retention and success (Gallop & Bastien, 2016; Nagasawa & Wong, 1999).

1- Data

2- Experimental design, materials, and methods

References

Abstract

This research aimed at gaining insight into the behavioural dimensions of projects by recognizing the social capital and the ability of project leaders to incorporate knowledge. The concept and three dimensions of social capital theory, namely structural, relational and cognitive, serve as the basis of the design in this research. The theoretical framework based on the interaction between social capital and the integration of knowledge. A survey was conducted to assess the latent variables of social capital of a project leader on the latent variable of knowledge integration capability. The research carried out with a sample of project management professionals (n = 316), provided project members’ perceptions on the behavioural attributes of project leaders. Structural equation modelling demonstrated the significant positive effect of structural and relational social capital on the integration of knowledge in the project management, but no significant relationship established between cognitive social capital and knowledge integration.

Method

The measures given in the provided dataset were gathered from primary research and an online survey questionnaire. The questionnaire includes items related to three dimensions of social capital (structural, relational, cognitive) and knowledge integration in project teams. It also includes questions related to demographics (gender, age, education) and project characteristics (have been a project manager, experience, total number of projects participated). The survey was administered to sample of 316 project management professionals in Turkey with provided written informed consent. Social capital is multidimensional and endogenous which makes it more difficult to observe directly. Therefore, the survey approach and the use of SEM as a tool for data analysis were appropriate for evaluating the latent variables in the model. The use of Structural Equation Modelling permits both the measurement and evaluation of a priori model components. The analysis of measurement model provided a way to link multiple observable indicators to each latent in order to understand unobservable variables, therefore the dimensions of the social capital investigated [14]. The structural part of the model provided a framework for an overall analysis of social capital and its relationship with knowledge integration. Since covarying interrelationship of the structural, relational, and cognitive social capital variables exist, SEM would be the best option to integrate all these relationships at once. Fig. 1 highlights both the measurement model and the structural model.

This paper explores the influence of social capital on corporate risk-taking using a large sample of publicly traded US firms. We predict that firms with high social capital display a higher level of risk-taking behavior. Consistent with our prediction, we find a negative relationship between corporate risk-taking and social capital. This paper shows that the social environment transmits valuable capital to individuals and thereby influences their corporate decision-making process. We also find that the combined effects of excessive risk-taking and social capital result in value destruction to the firm. Our test results are robust to alternatives measures of risk-taking, addressing endogeneity issues, and alternative model specifications. The paper contributes to the finance literature by demonstrating social capital as an important determinant in the corporate decision-making process, particularly in corporate risk-taking decisions.

Introduction

Finance literature widely explores the importance of non-financial factors on the corporate decisionmaking process. For instance, Hilary and Hui (2009) document a link between individuals’ religiosity and organizational behavior. Kumar et al. (2011) find a connection between gambling attitudes and investors’ portfolio choices, corporate returns, and stock returns. John et al. (2011) find that firms located in remote places pay higher dividends. Fahlenbrach et al. (2012) document bank-specific stickiness in risk-taking culture as the main reason for persistent vulnerability to the crisis in some banks. Baxamusa and Jalal (2014) find a link between religion and capital structure decisions. Jiang et al. (2015) find religiosity as an important determinant of risk-taking in family firms. Similarly, prior research finds social capital an important determinant of audit fees (Jha and Chen, 2015), corporate social responsibility (Jha and Cox, 2015), corporate and individual decisions (Jha et al., 2018), and discretionary accruals and misrepresenting financial information (Jha, 2019). Therefore, the prior studies provide substantial evidence on the role of non-financial factors on corporate decisions. Standard agency models acknowledge the role of managerial discretion in corporate decisions. Numerous prior empirical studies document a significant role of human elements such as traits and managerial power, and investors’ preference in the firm policy (Bertrand and Schoar, 2003; Malmendier et al., 2011).

1. Introduction

2. Theoretical background

3. Hypotheses

4. Methods

5. Analysis and results

6. Discussion and conclusions

References

Abstract

Marketing in an increasingly tumultuous marketplace requires resilience -the ability to withstand, adapt, and flourish despite turmoil and adverse change- that extends beyond firm boundaries. Although external resources are arguably essential to achieve resilience, little is known how and when firms’ social capital derived from interorganizational relationships can lead to supply chain resilience. Therefore, we investigate the role of absorptive capacity and marketing-supply chain management alignment in realizing the potential impact of social capital on supply chain resilience. Using data obtained from dual respondents from 265 Turkish firms, we test the mediating role of absorptive capacity and the moderating role of marketing-supply chain management alignment. Our findings indicate absorptive capacity mediates the relationship between social capital and supply chain resilience, and the links between social capital and absorptive capacity and social capital and supply chain resilience are stronger when marketing-supply chain management alignment is high. We also find that supply chain resilience is positively associated with organizational performance, empirically supporting the proposed value of supply chain resilience for firm strategy. Accordingly, our paper highlights that both absorptive capacity and marketing-supply chain management alignment are necessary to realize the actual value of social capital for supply chain resilience and ensuing performance.

Introduction

In today’s highly connected global marketplace, risks and disruptions are becoming unquantifiable threats to long-term success and survival (Colicchia & Strozzi, 2012) and overturning firm-centric traditional management practices that assume steady conditions (Pettit, Croxton, & Fiksel, 2013). Each day, firms face disruptions that can jeopardize their ability to perform effectively. For example, Boeing’s plan to introduce 787 Dreamliner and outrun its major competitors was plagued by severe and unexpected supply chain disruptions causing significant production delays and cost hikes as well as putting Boeing’s supply chain resilience into question (Melnyk, Closs, Griffis, Zobel, & Macdonald, 2014). Further, for example, when trade sanctions were imposed between Russia and 25 other countries in 2014, import-dependent Russian firms had to reorganize their supply chain very rapidly against such major disruption. Laine and Galkina (2017, pp. 916–919) describe the case of Russian SMEs in the shipbuilding industry, which sourced 90% of their inputs from imports, and how they reconfigured their supply chain from the mostly Western providers toward Chinese. A firm manager describes their approach: “Through the years, we were using our portfolio of established relationships, where everything was stable and predictable…” With a proactive development of R&D and production processes and business relationships –alongside operating with the existing supply chain partners- the firm was able to develop a relationship with one Chinese firm. When the disruption occurred overnight, they were able to increase the volumes of orders with this supplier at a reasonably low level of risk, as they had already developed a certain degree of trust and social capital. Eventually, they not only serve their existing customers but also to increase their market share by taking over the market from competitors who struggled with their supplies (ibid).

1. Introduction

2. Sociology of families

3. Sociology of value and evaluation

4. Conclusion

Appendix A. Supplementary data

References

Abstract

This article critiques several taken-for-granted assumptions in family business research. We recommend the use of sociological theories to problematize the phenomenon of family business and to push beyond dichotomies in the field. To begin, we complicate the very definition of family—implicitly defined in most family business research as a heterosexual, conjugal family—by discussing socio-legal, socio-biological, and role-based ways of defining “families.” Next, we suggest critical ways to research value and worth beyond the financial wealthsocioemotional wealth (SEW) trade-off, by considering major themes in the sociology of value and evaluation (SVE), including: the intergenerational transmission of various forms of capital, conflict over equivalent systems of accounts, and the blending of the intimate and the economic. The groundwork presented here through a focus on the family, provides important theoretically complex questions to help launch transformative research to move the field of family business forward.

Introduction

Research on family firms has been stymied by a narrow understanding of what constitutes a family and by a limited theoretical palate for exploring notions of value and worth. First, although the definition of family business is an on-going conversation in the field, the concept of “the family” has seen limited debate. Scholars typically take for granted that a family is an opposite-sex, married couple, living with their children under the same roof (see Stewart, 2003, 2010, 2014 for exceptions). This heteronormative perspective fails to account for the wide array of family arrangements in contemporary society, and limits opportunity for a more inclusive and empirically interesting collection of firms to study. Second, research on family business is dominated by a few theoretical frameworks that can be counted on one hand (Chrisman, Kellermanns, Chan, & Liano, 2010; Chua, Chrisman, & Steier, 2003). One of these concepts, socioemotional wealth (SEW) (Gómez-Mejía, Haynes, Núñez-nickel, Jacobson, & Moyano-Fuentes, 2007), describes organizational behavior according to trade-offs between financial and emotional wealth motivations (Vazquez & Rocha, 2018). This distinction suggests artificial boundaries around ideas of value and restricts understanding of the way worth is evaluated in different types of relationships. With limited perspectives employed, our understanding of critical areas of inquiry in the field are significantly constricted, resulting in only a narrow consideration of families and of family business behavior.

The entrepreneurial intention plays a vital role in generating new business. Although many studies have shown that attitude is influential in shaping intentions, few discuss this relationship by engaging interactively with social and psychological capital. This study aimed to develop a structural model to form the entrepreneurial intention of polytechnic students which involves the interplay of entrepreneurial attitude orientation, social capital, and psychological capital. Data were collected randomly through an online questionnaire completed by 215 polytechnic students in Indonesia. Structural equation modelling analysis was used to examine the structure model of developing entrepreneurial intentions and bootstrap confidence intervals were estimated to test the mediating role. The results reveal that entrepreneurial attitude orientation, social capital, and psychological capital collaboratively and interactively influence the entrepreneurial intention of polytechnic students. Psychological capital was shown to have a positive partial mediation effect on the relationship between entrepreneurial attitude orientation and entrepreneurial intention. Finally, psychological capital was also found to fully mediate the impact of a social capital on entrepreneurial intention. The findings of this study are discussed and some proposals with implications for vocational education practitioners are provided.

Introduction

Entrepreneurship is one of the main driving aspects of socioeconomic development (Coulibaly, Erbao, & Mekongcho, 2018). Entrepreneurs play an essential role in economic development because of their tremendous contributions to economic growth. Thus, it is not surprising that the field of education, especially vocational education, is invested in preparing mature and competitive entrepreneurial human resources. The Indonesian government gives special attention to the implementation of entrepreneurship education in vocational education (Wiratno, 2012); the goal is to prepare graduates to start new, creative businesses. Scholars have showed that intention plays a significant role in the decision to start a new entrepreneurial activity (Barba-Sánchez & Atienza-Sahuquillo, 2018), and have highlighted the importance of attitude, social and psychological aspects in developing entrepreneurial intentions (Ajzen, 2011; Ghani, Hooshangi, & Hassan, 2013; Linán ˜ & Santos, 2007). However, to this point, we have a limited understanding of the antecedent factors necessary for developing successful entrepreneurial intentions among vocational students. In particular, little is known about how the hierarchical structure of antecedent factors—including attitudes, social factors, and psychology—combine to foster entrepreneurial intention in Polytechnic students.