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1、中北大学毕业论文外文文献原文及译文0809014914经济与管理学院薛凯学生姓名:学号:管理学系学院:李彦华专业:指导教师:2012年6月5.1-9,,services,andmakethecitymoreattractive,strengtheningpublictransportinvestment,establishedasthebackboneoftheurbanrailtransitmulti-level,multi-functionalpublictransportsystem,thusprotect
2、ingtheregionalpositionandachieveSocialcapitalcanbeviewedasnetworksthatenabletheorganizationtofunctionbetter,whilereputationoftheorganizationcanalsoberegardedaspartofthefirm’ssocialcapital.Exactlywhatconstitutessocialcapitalremainsachallengeandthereisstillmuchw
3、orktobedoneinthisarea.However,itisbelievedthatsocialcapital,ingeneralterms,improvestheprofitabilityoffirms.Itshouldbenotedherethatsocialcapital,ornetwork,cannotbenecessarilyassumedtohaveapositiveeffectonthefirm’sperformance.Socialcapitalmeasuredindifferentwaysma
4、yhavenegativeeffectsonthefirm.Forexample,ifthemanagersusehis/herinfluenceorskillstoreducethecompetitivenessofthefirmforthebenefitofhis/herownorcompetitors,thesemanagersclearlyrepresentnegativesocialcapitalofthefirm.Theownersofthefirmmaybewillingtopayorincuraddition
5、alcoststogetridofthem.InthetraditionalChineseculture,socialnetworkingiscriticaltosurvivalandsuccess.Therefore,theuseofsocialcapital,whichcanbeviewedasasocialnetwork,shouldhaveanimportantroleinthefinancialperformanceofChinesefirms.Wefollowanapproachsimilartothat
6、inZhangandFung(2006)andincorporatesomevariablesthatproxyforsocialcapitalinourempiricalanalysis.BecauseofunderdevelopedfinancialmarketsinChina,thefinancialconstraintsofoper-atingabusinessenterprisearerealandbinding.Itisnoteasytoborrowmoneyfrombanks,whicharelarge
7、lyownedbythegovernmentandfocusonlendingtolargestate-ownedenterprises.ThebulkofthefundingforChineseprivatizedfirmslistedontheexchangesstillcomesfrombankloans(Fung,LeungandZhu,2006).Thus,Chinaisabank-basedeconomycomparedtothemarket-basedUSeconomy.Venturecapitali
8、nChinaisnoteasilyaccessibletosmallormedium-sizedprivatefirms.NoraretheresmallbusinessloansprogramslikethoserunandsubsidizedbytheUSgovernment(e.g.,SBAloanprograms)inChina.Asaresult,privatefi