IMPORTED CAPITAL INPUT,ABSORPTIVE CAPACITY,AND FIRM PERFORMANCE: EVIDENCE FROM FIRM‐LEVEL DATA

Importing capital inputs has been recognized as a critical channel for technology transfer across countries. We examine whether and to what extent the productive impact of imported capital varies with firms' abilities to absorb new technologies using ordinary least squares, instrumental variable, and threshold regression estimators. We find that firms with higher absorptive capacity gain significantly more from importing foreign capital. Our results also suggest a threshold for such benefits. Furthermore, the productive contribution of skilled labor is significantly higher in firms that import foreign capital. Developing policies to augment absorptive capacity will help firms in developing countries to realize benefits associated with imported capital. (JEL F14, D24, L24, O33)     

THE MATCHING OF HETEROGENEOUS FIRMS AND POLITICIANS

We use a Chinese firm‐director panel dataset to examine the matching of heterogeneous firms and politicians. On the basis of 36,308 detailed biographies, we identify individuals who previously held bureaucratic positions and classify the rank of each position in the Chinese political hierarchy. Using this direct measure of political capital, we examine how firms with heterogeneous productivity match politicians with different political strength. Our results indicate a positive assortative matching in the political capital market. More productive firms are paired with more powerful politicians. Furthermore, the preference for political capital relative to conventional human capital increases in firms' dependence on external financing and the inefficiency of local governments. Conditional on the endogenous matching, new hires with political capital receive more compensation than their co‐workers in the same cohort. The marginal effect of a one‐step rise on the political ladder significantly exceeds the marginal effect of raising education attainment from, for example, high school to college. (JEL D21, D73, J24, J31, O12)     

Analyzing the Impact of Bonding and Bridging Social Capital on Economic Well-Being: Results from Canada's General Social Survey

In this study we analyze nationally representative data from Canada's General Social Survey to investigate how various indicators of bonding and bridging social capital are associated with economic well-being and how the magnitude of their associations compare with each other. Our findings suggest that several dimensions of bonding social capital, including knowing neighbors well enough to ask favors of them and providing assistance to others, are positively associated with economic well-being. The study's indicators of bridging social capital were also linked to increases in the participants’ economic well-being. When comparing the associations of bonding and bridging social capital we ascertained that bridging social capital in the form of group membership, including Internet group membership and participation in groups, had a more robust association than any of the indicators of bonding social capital. We consider the implications of the study's findings in light of a technologically-advanced yet volatile economy.     

Exploring the contributions of human and social capital to productivity

In this article we investigate how human and social capital contribute to individual productivity. We study three firms that complete all their tasks as projects. The employees in all firms initiate and organise their projects. We collected archival data from the firms on performance, human capital, tenure, gender and their project activities. Social network data are generated from interviews and a survey. We find that social capital is the most important factor to determine productivity. We found mixed effects from human capital; only in one firm did human capital have a noticeable effect on productivity; tenure has no effects on productivity.     

Three simple models of social capital and economic growth

This paper proposes three models of social capital and growth that incorporate different perspectives on the concept of social capital and the empirical evidence gathered to date. In these models, social capital impacts growth by assisting in the accumulation of human capital, by affecting financial development through its effects on collective trust and social norms, and by facilitating networking between firms that result in the creation and diffusion of business and technological innovations. We solve for the optimal allocation of resources channelled into the building of social capital, examine the models’ comparative statics and dynamics, and demonstrate how a tax and subsidy scheme may correct the resource under-allocation that results from the public good aspect of social capital creation. Observed differences in social capital across countries are explained by differences in government policies and the possibility of multiple equilibria and social capital poverty traps.     

Social capital,guanxi and political influence in Chinese government relations

Social capital has emerged as a promising theoretical approach to understanding political influence in the public relations literature. However, the rationale of using social capital to influence corporate government relations in authoritarian societies is indistinct. To remedy this, we integrate Bourdieu’s (1986) and Lin’s (2001) social capital theories to explore how applying a variant form of social capital (e.g., guanxi) might shape corporate government relations in authoritarian China. A multi-method, qualitative approach was employed involving 44 interviews, participant observation and document review. The findings highlighted an underexamined “vertical” dimension of social capital (i.e., links with authority in a hierarchy), which enables corporations to exercise agency over the pre-existing and often vague regulatory environment. This study adds a new perspective to social capital with hierarchical guanxi that enriches our understanding of guanxi-based political influence in Chinese corporate government relations.     

Social Capital is Associated with Earnings among Foreign‐born Mexican Men but not Women in Los Angeles County

The mechanisms through which social capital is accumulated may influence its relationship with hourly earnings. Because Mexican men and women accumulate social capital differently, for instance, gender may be an important factor for understanding social capital’s association with Mexican migrant earnings. Unlike past research that often fails to differentiate between various social capital metrics (e.g., social network member reciprocity, participation in civic group organizations, neighbourhood trust), this article estimates two of these associations with wages while controlling for individual‐, household‐ and neighbourhood‐level characteristics. Results suggest that foreign‐born Mexican men receive a wage premium from civic participation (bridging social capital) and a wage penalty from reciprocal social network exchange (bonding social capital). We also find that unauthorized legal status (among Mexican men and all migrants) and having children (among women) were negatively associated with hourly wages. We conclude with a discussion of the relative association of human and social capital with Mexican migrant wages.     

Dimensions of social capital and subjective well-being: evidence from Italy

The concept of social capital was investigated as an explanatory variable of a number of significant socio-economic phenomena, such as economic development, the well-functioning of institutions, and school performance. This study proposes an analysis of the relation between social capital and well-being. The two concepts have been interpreted by social sciences in many different ways. In particular, as a result of its recent success, social capital has been the object of a great deal of interpretations. Social scientists have considered it either as a collective resource (macro social capital), or as an available resource amongst members of specific groups (friends, associations, local communities, etc.; i.e. meso social capital), or as a resource that individuals can achieve through their personal networks (micro social capital). Using data from a representative sample of Italian citizens (25–80 years old), this work investigates which dimension (micro, meso, or macro) of social capital has (if any) a major influence on subjective well-being. Data show some interdependence only with the macro social capital, and suggest that it is just the symbolic and cognitive qualities of the social capital, rather than its structural dimension, that could be associated with subjective well-being in a significant way.     

Civil society,social capital and the Twelve Step group

This article examines the nature of community and family by using the concept of civil society through a Twelve Step group called Al-Anon. Al-Anon is related to Alcoholics Anonymous and is a support group for families of alcoholics. The concept of civil society is addressed by looking at its development in political philosophy and sociology. The work of Putnam, in particular, is used to understand how civil society and the associations which make it up develop social capital [Making Democracy Work: Civic Traditions in Modern Italy, Princeton University Press (1993); Journal of Democracy, 6(1), 65–78 (1995); The Responsive Community, 5(2), 18–33 (1995)]. Social capital is understood to be norms and values such as trust and reciprocity that enable sociability or social connectedness. Community, then, embodies these norms of trust and reciprocity through their development in Al-Anon. Al-Anon is studied as an example of an association in civil society. The data come from an ethnographic study in Australia and five European countries as well as in-depth interviews with women members in Australia. The article reviews the similarities and differences between the various countries as well as the form that social capital takes for individual members.     

Practices of exclusion and injustices within social work education

Despite being a major influence, there are few studies investigating the impact of accreditation on the social justice remit of social work education. This article is guided by two questions: What are the social justice responsibilities of professional associations regulating social work education via accreditation? and What contribution can institutional ethnography make to understanding and change in this area? Drawing on a data-subset from a larger institutional ethnography, selected narratives of two informants, a social work student and a social work lecturer, are discussed. These narratives reveal how key documents of the Australian Association of Social Workers (AASW) used to re-accredit social work courses influence how the study and work of the informants happens. Analysis of the narratives and documents bring the textually organised process of the re-accreditation of social work programmes into view. While this article reports on an Australian context, the issues raised concerning social injustice, epistemological equity and the implicit curriculum are relevant for social work education across many parts of the world. The contribution of this article is to recommend institutional ethnography as a research approach to generate understanding and transformation of organisations with social justice objectives, to redress exclusion and injustice.     

The Dark Side of the Force: A Case Study of Restructuring and Social Capital1

Abstract This paper uses a case study of a Southern textile community to show how a distinct form of social capital is embedded in local networks of power and domination. Textile firms and communities in the South have undergone restructuring: technology and labor processes have modernized, firms have merged, consolidated, or closed, and the number of workers has declined. An analysis of Cannon Mills and its associated mill community of Kannapolis identifies the sources of the paternalist form of social capital that dominated work and community social relations. Corporate mergers, downsizing, technological change, shifts in the labor market, municipal incorporation, and labor organizing contributed to the transformation and decline of paternalistic social capital. The case study reminds social scientists that social capital is a context dependent form of power that can be created, accumulated, or destroyed. While many current analyses treat social capital as an unquestioned positive force, the case study reveals the dark side of social capital.     

Social capital,information flows,and income creation in rural Canada: a cross-community analysis

We propose that (I) social capacity, defined as the ability of people to organize and use their social capital, does influence their level of income, and that (II) this is because social capital use facilitates the flow of income-related knowledge and information between economic agents. Tests of these propositions based on a framework classifying social capital as a productive asset embedded in four types of social relations, and using data on household and community social capital for rural Canada, revealed some supportive evidence.     

Civil Society in Comparative Perspective: Involvement in Voluntary Associations in North America and Western Europe

Involvement in voluntary associations is analyzed from the perspective of questions raised in the debate about civil society. After demarcating the concept of civil society in relation to the community, the market, and the state, expectations are formulated about the negative effects of modernization and individualization on volunteering and the positive effects of volunteering on social capital and public discourse. World Values 1990 data are used for inter- and intranational analyses. Neither rankings of thirteen Western nations nor in-depth analyses of the U.S., the Netherlands, and Italy support worried reflections about the effects of modernization. The Idea that involvement in voluntary associations is conducive to social cohesion and political democracy finds empirical support. Both mere membership of an association and actual volunteering within such an association appear to be important in this respect.     

遵循创投发展规律深化国有创投公司市场化改革——部分省市国有创投公司调研报告

江苏、浙江及深圳等部分省市国有创投公司成功的原因，在于不断按照市场化、专业化要求推进体制机制创新，突破现行国有评估、考核和激励机制等的束缚。上海国有创投业在国内与深圳创投、江苏高投等公司基本上同时起步，但近年来在实力和影响力方面差距拉大。建议上海国有创投业体现政府职能和市场化的经营活动要分开；国资创投活动要与市场融合特别是与社会资金融合；通过改革和创新突破现有国资规定。     

Testing the validity of social capital measures in the study of information and communication technologies

Social capital has been considered a cause and consequence of various uses of new information and communication technologies (ICTs). However, there is a growing divergence between how social capital is commonly measured in the study of ICTs and how it is measured in other fields. This departure raises questions about the validity of some of the most widely cited studies of social capital and ICTs. We compare the Internet Social Capital Scales (ISCS) developed by Williams [2006. On and off the ’net: scales for social capital in an online era. Journal of Computer-Mediated Communication, 11(2), 593–628. doi: 10.1111/j.1083-6101.2006.00029.x] – a series of psychometric scales commonly used to measure ‘social capital’ – to established, structural measures of social capital: name, position, and resource generators. Based on a survey of 880 undergraduate students (the population to which the ISCS has been most frequently administered), we find that, unlike structural measures, the ISCS does not distinguish between the distinct constructs of bonding and bridging social capital. The ISCS does not have convergent validity with structural measures of bonding or bridging social capital; it does not measure the same concept as structural measures. The ISCS conflates social capital with the related constructs of social support and attachment. The ISCS does not measure perceived or actual social capital. These findings raise concerns about the interpretations of existing studies of ‘social capital’ and ICTs that are based on the ISCS. Given the absence of measurement validity, we urge those studying social capital to abandon the ISCS in favor of alternative approaches.     

Piketty's Calibration Economics: Inequality and the Dissolution of Solutions?

Abstract

By popularising interest in inequality, Thomas Piketty's Capital in the Twenty-First Century has made a significant contribution. It has helped to change the basic terms of debate regarding wealth and income. However, Capital exhibits several weaknesses. The overall statement of Piketty's 3 laws tends to confuse the reader by conflating capital with all forms of wealth, and capital with the current market valuation of wealth assets. The whole creates a form of empiricism by metrics or calibration. The aggregation also lends itself to data as history rather than as historically grounded explanation of evidence. Concomitantly, it lacks a theorisation of capitalism, of power, of the state, of social movements, and of social transformations. This affects the way in which possible solutions to inequality are conceived. However, it does provoke further grounds for ethical counterargument productive of more progressive solutions to the problems it highlights.     

Social capital and aspirations for educational attainment: a cross-national comparison of Australia and Germany

With the emergence of ‘knowledge economies’ across the industrialised world, transitions from school to work have generally become more complex and uncertain. Nonetheless, such developments vary between countries, as young people form aspirations which align with their individual preferences, academic abilities and the economic, cultural and social capital to which they have access. Previous research emphasises the positive influence social capital received from parents and school networks has on young people's developing aspirations. Meanwhile, the social capital young people generate for themselves through ‘out-of-school’ activities is often construed as either irrelevant or problematic. In this paper, we examine the relationship between this latter dimension of social capital and the educational aspirations of young people in Australia (aged 14/15; n = 3586) and Germany (aged 14/15; n = 2517). Both countries have distinct institutional settings with varied school-to-work transition regimes. Our results show that youth-derived social capital, generated through participation in out-of school extra-curricular activities, mediates the association between parental background and educational aspirations in both countries. We suggest that, by exposing young people to broader sets of values, skills and resources not accessible within the family and the school context, such involvement may be important for promoting educational aspirations and attainment.     

INDEPENDENT AGENCIES,POLITICAL INTERFERENCE,AND FIRM INVESTMENT: EVIDENCE FROM THE EUROPEAN UNION

Investment in network infrastructure is crucial for economic growth. This article studies the impact of the presence of independent regulatory agencies (IRAs) on the investment of European regulated firms. We account for measurement error in formal independence of IRAs by exploiting cross‐country heterogeneity in the quality of political institutions. Results show that regulatory independence increases firms' investment rate by around 1.2%–3.3%. The positive effect survives when we control for social capital accumulation, investor protection, and market liberalization. However, the effect of IRAs is not immune to politics, as we find that political interference in regulatory functions persists in the European Union and is detrimental to firm investment. (JEL D78, L50, D92, H1)     

Social capital as social relations: the contribution of normative structures

This paper presents a framework for social capital that highlights the normative structures through which it is manifested. The primary focus is on the ways that norms structure the relationships in which social capital is embedded. To this end, we introduce four types of normative structures which condition social capital: market, bureaucratic, associative, and communal. A field site in Japan is used to illustrate how different aspects of social capital interact. This case analysis also serves to make an important distinction between the availability and use of social capital. The central arguments are that 1) social capital is organized in different ways by the normative structures in which it is embedded; 2) there are important interactions between these different aspects of social capital that are often overlooked by simpler frameworks; 3) a useful distinction can be made between available social capital and used social capital; 4) access to social capital can be used to analyze power relations; and 5) distinguishing different aspects of social capital makes areas visible that are overlooked by other understandings of social capital. We conclude by identifying the utility of our perspective for informing public policy and guiding future research.     

Income inequality,cultural capital,and high school students' academic achievement in OECD countries: A moderated mediation analysis

This study examines how social context, in this case, income inequality, shapes the role of cultural capital in educational success. First, we revisit the associations between (objectified) cultural capital and academic achievement, and cultural capital's role in mediating the relationship between family SES and academic achievement. More importantly, we explore how national-level income inequality moderates these two relationships. By analyzing a multilevel dataset of 32 OECD countries, a combination of PISA 2018 data and several national indexes, we find that: (1) cultural capital not only has a positive association with students' academic achievement but also acts as a significant mediator of the relationship between family SES and academic achievement in OECD countries; (2) both cultural capital's association with academic achievement and it's mediating role are stronger in more equal countries than in unequal ones. The findings shed new light on understanding how cultural capital shapes intergenerational education inequality across countries with different levels of inequality.