资源描述：
《企业家社会资本对企业绩效的影响外文文献》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。
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Socialcapitalcanbeviewedasnetworksthatenabletheorganizationtofunctionbetter,whilereputationoftheorganizationcanalsoberegardedaspartofthefirm’ssocialcapital.Exactlywhatconstitutessocialcapitalremainsachallengeandthereisstillmuchw
2、orktobedoneinthisarea.However,itisbelievedthatsocialcapital,ingeneralterms,improvestheprofitabilityoffirms.Itshouldbenotedherethatsocialcapital,ornetwork,cannotbenecessarilyassumedtohaveapositiveeffectonthefirm’sperformance.Socialcapitalmeasuredindifferentwaysmayhavenegativeeffectsonthefirm.Forexamp
3、le,ifthemanagersusehis/herinfluenceorskillstoreducethecompetitivenessofthefirmforthebenefitofhis/herownorcompetitors,thesemanagersclearlyrepresentnegativesocialcapitalofthefirm.Theownersofthefirmmaybewillingtopayorincuradditionalcoststogetridofthem.InthetraditionalChineseculture,socialnetworkingiscri
4、ticaltosurvivalandsuccess.Therefore,theuseofsocialcapital,whichcanbeviewedasasocialnetwork,shouldhaveanimportantroleinthefinancialperformanceofChinesefirms.WefollowanapproachsimilartothatinZhangandFung(2006)andincorporatesomevariablesthatproxyforsocialcapitalinourempiricalanalysis.Becauseofunderde
5、velopedfinancialmarketsinChina,thefinancialconstraintsofoper-atingabusinessenterprisearerealandbinding.Itisnoteasytoborrowmoneyfrombanks,whicharelargelyownedbythegovernmentandfocusonlendingtolargestate-ownedenterprises.ThebulkofthefundingforChineseprivatizedfirmslistedontheexchangesstillcomesfromba
6、nkloans(Fung,LeungandZhu,2006).Thus,Chinaisabank-basedeconomycomparedtothemarket-basedUSeconomy.VenturecapitalinChinaisnoteasilyaccessibletosmallormedium-sizedprivatefirms.NoraretheresmallbusinessloansprogramslikethoserunandsubsidizedbytheUSgovernment(e.g.,SBAloanprograms)inChina.Asaresult,privat
7、efirmsrequirecapitalforexpansionandgrowth.Itseemsobviousthatequitycapitaloftheprivatefirmsplaysanimportantroleinthesuccessofthebusiness.Asaresult,financingcapitalisapparentlyacriticalinputintheperformanceoftheseChineseprivatefir
