Knowledge acquisition's mediation of social capital‐firm innovation

Abstract

PurposeThis paper aims to empirically examine the mediating role of knowledge acquisition between social capital and innovation for firms located in science and technology parks (STPs).Design/methodology/approachPartial least squares offers the primary statistic technique for assessing survey data collected from 214 Spanish tenants.FindingsKnowledge acquisition fully mediates the relationship between social capital and firm innovation. Moreover, social capital at the firm level has a significant influence on both knowledge acquisition and innovation.Research limitations/implicationsFurther research should include more independent variables to understand the complex phenomenon of firm innovation.Practical implicationsTenant firms in STPs must develop strategic management tactics for their interfirm relations to acquire and exploit key resources such as knowledge. For specialized firms, close social interactions in specific contexts can enhance both knowledge acquisition and innovation to compensate for their resource constraints.Originality/valueBy demonstrating the impact of social capital on knowledge acquisition and innovation in the specific context of STPs, whose artificial environment encourages and promotes close social interactions among tenants, this article overcomes previous and contradictory findings regarding the relationship between social capital and innovation. A key element is the contingent and mediating role of knowledge acquisition. Finally, this study considers social capital at the firm level as a multidimensional, second‐order latent construct that includes structural, relational and cognitive aspects simultaneously.