High Social Capital Research Articles

Regional Social Capital and Non-GAAP Earnings Disclosure

We investigate whether regional social capital is associated with a company’s discretionary disclosures of non-GAAP earnings. The US county level social capital is used to capture the informal supervisory instrument of regional social capital. The two dimensions of social capital, dense networks and strong norms in regions with high social capital, cause reciprocity, integrity, and organizational citizenship. Using a panel of US companies, we find that companies located in regions with high social capital (1) are more likely to disclose non-GAAP earnings, and (2) their non-GAAP earnings disclosures have higher quality. These findings are robust to controlling for demographic features, substitute proxies for regional social capital, and using two-stage least squares and propensity score matching approaches. Furthermore, we implement a mediator analysis and show that companies in high social capital regions have lower costs of equity capital because they are more likely to disclose non-GAAP earnings, and their disclosures are of higher quality. Overall, the findings indicate that the informal institutional factor of regional social capital is associated with the crucial voluntary disclosure tool of managers’ non-GAAP earnings.

Psychological capital and social class: A capital approach to understanding positive psychological states and their role in explaining social inequalities.

Psychological capital (PsyCap) is a multidimensional concept entailing hope, self-efficacy, optimism, and resilience. This paper argues that it can be considered a form of "capital" explaining social inequality. We test whether PsyCap can be integrated into the Bourdieusian capital framework by assessing its relationship with social, economic, and cultural capital. We also identify different types of social positions based on the volume and composition of psychological, economic, cultural, and social capital. We use cross-sectional data from the European Social Survey of 2012 (N = 35,313 respondents; 29 countries). To test the associations with the Bourdieusian capital types, we calculated multilevel spearman rank correlations and performed confirmatory factor analyses (CFA). Latent Class Analysis identified different types of social positions. We found positive weak correlations between PsyCap and the indicators of cultural capital (r ≤ .14) and positive moderate correlations with the indicators of economic and social capital (r ≤ .24). The results of the CFA showed that the fit of the 4-capital model was superior to that of the 3-capital model. We identified six types of social positions: two deprived types (with overall low capital levels); two well-off types (with overall high capital levels) and two types with high psychological and social capital in combination with varying levels of cultural and economic capital. Including PsyCap in the Bourdieusian capital framework acknowledges the power of positive psychological states regarding processes of social mobility and social inequality on the one hand and calls for understanding PsyCap as a social and group-level phenomenon on the other hand. As such, integrating PsyCap into the Bourdieusian framework can help to address the longstanding issue of understanding the relationship between social and individual differences in the study of social inequalities.

High social capital facilitates the alleviation of psychological distress in breast cancer patients: Insights from a cross-sectional study in Anhui Province, China.

Differences in social capital have been shown to impact psychological distress in cancer patients, but few studies have examined the relationship between social capital and the distress thermometer (DT) in breast cancer patients who have undergone modified radical surgery. To fill this research gap, our study aimed to investigate the association between social capital and the DT among breast cancer patients who underwent modified radical surgery in Anhui Province, China. This cross-sectional study used multi-stage stratified random sampling. Data on demographic characteristics, eight dimensions of social capital, and the DT were collected using a questionnaire. Logistic regression models were subsequently utilized to assess the relationship between social capital and DT, adjusting for confounding factors. A total of 253 participants were included in the final analysis. Results indicated that individuals with higher levels of social capital, including participation in the local community (OR = 3.437; 95% CI: 1.734-6.814), social agency or proactivity in a social context (OR = 69.700; 95% CI: 20.142-241.195), feelings of trust and safety (OR = 26.287; 95% CI: 7.646-90.374), neighborhood connections (OR = 7.022; 95% CI: 3.020-16.236), family and friend connections (OR = 59.315; 95% CI: 17.182-204.760), tolerance of diversity (OR = 9.785; 95% CI: 4.736-20.216), value of life (OR = 65.142; 95% CI: 19.994-212.242), and work connections (OR = 31.842; 95% CI: 12.612-80.397), had higher odds of reporting poor DT scores compared to those with lower levels of social capital. These findings indicate an association between social capital and DT scores in breast cancer patients who have undergone modified radical surgery, suggesting that social capital may play a crucial role in alleviating psychological distress within this community.

‘You come as a human being…’: exploring sense of equality in arts interventions through an ethnographic study of Shared Reading

Research shows that the arts hold a particular potential for promoting health, well-being and social inclusion for vulnerable people. However, the use and consumption of the arts tend to be...

Does social capital matter in underwriter's fees?

This study examines the influence of bond issuer's social capital on underwriting fees. Investors rely on accurate information to evaluate bond quality, while underwriters assume inventory risk stemming from uncertain investor demand. We posit that social capital enhances the quality of information disclosed by the issuer, consequently impacting the fees underwriters charge for bearing this risk. Utilizing data on new tax-exempt municipal bonds issued from U.S. counties over the period 1990–2017, we find that underwriters charge significantly lower fees for bonds issued from counties with higher social capital. This result remains robust after controlling for issuer and bond characteristics, as well as addressing potential endogeneity concerns. Further investigations show that the observed effect persists only in situations where underwriters bear greater risk, suggesting that social capital functions as a valuable form of certification within the underwriting process.

Party organization embedded and corporate internal control level

Embedding Party elements in corporate governance is not only a characteristic of Chinese corporate governance but also plays a positive role in improving the quality of internal control in Chinese enterprises. The results of this study show that the embedding of enterprise Party organizations can enhance the level of corporate internal control, and this impact is more pronounced in state-owned enterprises and in companies where the CEO has higher social capital. The findings of this study have theoretical significance and practical value in fully leveraging the leading role of enterprise Party organizations and promoting the high-quality development of Chinese enterprises.

The relationship between social capital and inflammatory biomarkers in early adulthood: A longitudinal study.

Higher levels of social capital (SC) are associated with better health status. However, there is little evidence of the impact of SC on biological health outcomes in the early ages. To identify the association between SC in adolescence and inflammation levels in early adulthood. Prospective study using data from 2435 participants from the Epidemiological Health Investigation of Teenagers in Porto cohort. SC was assessed at age 17 through a self-administered questionnaire, and high-sensitivity C-reactive protein (hs-CRP) and leucocytes were measured in a fasting blood sample at 17 and 21 years-old. A principal components analysis was performed to identify the domains of SC. Simple linear regressions were performed to assess the association between SC components and inflammatory status at 17 and 21years old. Pathway analysis was performed to assess the direct, indirect, and total effects of SC on hs-CRP and leucocyte levels. We did not find a significant total effect between SC at 17 years-old and hs-CRP at 21 years-old. However, the Trust/Reciprocity dimension showed a significant direct effect between SC and hs-CRP levels at 21 (β=-0.065, 95% CI: -0.129; -0.001), as well as a significant total effect (β=-0.075, 95% CI: -0.139; -0.011). Regarding leucocyte levels, total SC at 17 years-old was associated with leucocytes levels at 21 (β=-0.115, 95% CI: -0.205; -0.024). Significant direct (β=-0.104, 95% CI: -0.194; -0.014) and total effect (β=-0.107, 95% CI: -0.199; -0.015) of Trust/Reciprocity on leucocyte levels were observed. Adolescents with higher SC have a low inflammatory level in early adulthood, especially those with greater levels of trust/reciprocity.

Social capital and supply chain relationships

AbstractWe examine the role of social capital in influencing decisions pertaining to buyer–supplier relationships. We report that firms make larger relationship‐specific investments when their supply chain partners are headquartered in states with high social capital. This result is more pronounced when supply chain partners have incentives to engage in opportunistic behavior. Furthermore, the duration of supply chain relationships is longer when the firm and its supply chain partner are both headquartered in high social capital states, and when the partner invests in relationship‐specific assets. Collectively, the evidence suggests that social norms reflecting trustworthiness facilitate investment and stability along supply chains.

Perception of place, active transportation, and community participation: A mediation analysis

IntroductionActive transportation is associated with many benefits, including community participation, a salient form of social capital. Positive neighborhood perceptions are likewise associated with higher social capital, including community involvement. However, little is known about how active transportation may mediate the relationship between perception of place and community participation. MethodsUsing representative data from the Survey of the Health of Wisconsin (n = 1758), path analysis within a structural equation modeling framework assessed mediation. Covariates include age, education, race/ethnicity, gender, and community size. ResultsResults suggest perception of place (well-maintained, interesting places with walkable destinations) has a relationship to community participation (p = 0.001); however, when assessed for mediation through active transportation, only an indirect effect remained significant (p = 0.003), indicating the relationship between perception of place and community participation occurs through active transportation. ConclusionsInvesting in bike and pedestrian infrastructure that connects places, creates interesting spaces, and protects funding for routine maintenance is critical to support higher participation in active transportation as well as higher social capital in the form of greater involvement in community participation. Inequities in maintenance and infrastructure may impact not only active transportation, but community participation as well.

The impact of social capital on major customer supply chain power

We investigate the impact of regional social capital on firms' ability to attain bargaining power over their supply chain partners. Using ordinary least squares and instrumental variables estimations, we find a positive relationship between firm-level supply chain power and US county-level social capital. Additionally, we observe this positive effect to be stronger for firms in durable goods manufacturing and the services industry, but not for nondurable goods manufacturers. We conclude that firms headquartered in US counties with high social capital are preferred by suppliers, resulting in greater supply chain power.

Community Social Capital in Community Forest Management in Poso Pesisir District

In Indonesia, commercial management of community forests began several hundred years ago. This research aims to measure the level of social capital in community forest management, and analyze its influence on community forest performance. The research was carried out using a survey method. Two villages in one district were chosen purposively. Respondents were 60 people that randomly selected from each village. The results of the research reveal that the level of social capital of the two communities in community forest management is classified as different. High social capital has facilitated the revival of good community forest performance, which is characterized by high levels of community forest productivity, as well as continuing sustainable management of community forests, the benefits of regulations. fair management and cost efficiency of community forest management. Strong social capital drives better performance. This research concludes that community social capital in managing community forests in Toini Village is relatively high, while in Betania Village it is low. Considering the differences in social capital that exist in society, the author suggests the need to increase parties, especially the government, to support forest management through increasing roles, facilitating the expansion of social networks, and strengthening the implementation of rules to the community.

Social capital and health beliefs: Exploring the effect of bridging and bonding social capital on health locus of control among women in Dhaka

This cross-sectional study examined if social capital affects women's health attributions. The study used the Internet Social Capital Scale (ISCS) and Multidimensional Health Locus of Control (MHLC) Scale to measure Social Capital and Health Locus of Control. A predefined 38-item questionnaire was used to survey 485 purposively selected women. A bidirectional reciprocal structural equation model was used to measure the covariance between Social Capital and Health Locus of Control. We hypothesized that women with strong social capital, particularly those rich in bridging ties, would exhibit a greater sense of agency and empowerment over their health, attributing their health outcomes less to internal factors like fate and more to external influences like powerful others and broader social support. However, we found that when women have higher social capital, their external health locus of control increases. Bridging and bonding social capital lower women's internal health control, but bridging social capital leads to higher attributes to powerful others. Likewise, we expected women with more social capital would exhibit a lower perception of uncontrollability over their health, but is not the case. The findings underscore the necessity for women to have more social capital.

Remedial, institutional or radical? Explaining community responses to violence against women in an NGO programme to prevent violence in Mumbai, India

Despite ambitions in development and global health policy to transform communities into supportive environments for women facing risks of violence, our understanding of how to best engage communities remains incomplete. In particular, there is little evidence on the types of strategies that communities employ to address violence against women (VAW). We aimed to describe and analyse the processes involved in community responses to incidents of VAW in a non-governmental organisation (NGO) violence prevention programme in Mumbai, India. We conducted a grounded theory study involving 30 focus group discussions and 36 semi-structured interviews with 113 community members and 9 NGO staff, as well as over 170 h of field observation. Informed by comparative case study methods, we compared community actions across six informal settlement neighbourhoods. We found considerable variation in the type of action taken across neighbourhoods. This variation was not arbitrary, but reflected systematic cost-benefit considerations in heterogeneous environments, accounting for factors such as trust in neighbours, violent (armed or gang-related) crime, and corruption in state institutions. We found that institutional action was only favoured in neighbourhoods with strong state capacity and high social capital, whilst remedial action—resolving violence through ‘private’ talks in the family and community—and radical action involving extra-judicial violence—became favourable under conditions of weak social capital or low state capacity. Institutional action was, however, sometimes as violent as radical action, as police were reported, sometimes even relied upon, by residents to use force against perpetrators of VAW. We argue that these contextual features oblige policymakers and prevention researchers to grapple with contentious issues such as the legitimate use of force by the state. We caution against maximising community action without a clear vision of the type of action hoped for.

Acquisitions and social capital

AbstractWe examine the association between the social capital—social norms that encourage altruism and discourage opportunism—in the state of the firm's headquarters and the acquisitions it makes. We find that the cumulative abnormal return around an acquisition announcement is high when an acquirer is headquartered in a high social capital state in the United States. This effect is robust and incremental to the effect of a firm's corporate social responsibility (CSR) ratings and economically comparable to the effect of corporate governance. The effect of social capital is stronger for firms that have lower CSR ratings, which indicates social capital may act as a substitute for CSR. An additional analysis shows that social capital's effect is stronger in a subsample of firms with weak corporate governance. Acquirers from states with high social capital also demonstrate less hubris in acquiring targets than those from states with low social capital as the evidence of lower bid premiums indicates. Overall, our results show that the social norms that social capital measures mitigate potential agency problems in acquisitions by inducing managers to honor their obligations to shareholders.

How does social entrepreneurship achieve sustainable development goals in rural tourism destinations? The role of legitimacy and social capital

Rural tourism has emerged as a pivotal catalyst for local economic development, particularly in emerging economies. However, sustainable rural tourism development should not solely prioritize economic outcomes but also emphasize social values. Social entrepreneurship underscores both economic and social values, presenting a viable approach to attaining sustainable development goals (SDGs) in rural areas. This study introduces the concepts of legitimacy and social capital to examine how social entrepreneurship achieves SDGs in rural tourism destinations using a case study of Mingyue village in China. The findings suggest that social enterprises establish their legitimacy by effectively navigating institutional complexity while also fostering social capital at the community level, which ultimately facilitates the transition of the community from “low legitimacy-low social capital” to “high legitimacy-high social capital.” Throughout this process, social entrepreneurship promotes individual empowerment and enhances collective efficacy, thereby contributing to achieving SDGs. In essence, this paper constructs a theoretical framework illustrating how social entrepreneurship achieves SDGs while providing valuable insights into exploring the sustainable development of rural tourism driven by such entrepreneurial endeavors.

The dark side of social capital: Geographic differences in COVID-19 preventive behaviors among older adults in South Korea.

The present study examined whether geographic location (i.e., rural vs. urban areas) moderated the relationship between social capital and COVID-19 preventive behaviors among older adults in South Korea. Participants were a nationally representative sample of 61 075 Korean adults aged 65 years or older from the 2021 Community Health Survey by the Korea Disease Control and Prevention Agency. The moderation analysis was conducted with PROCESS. After adjusting for covariates, the moderation analysis showed a significant moderation effect of geographic location on the relationship between social capital and COVID-19 preventive behaviors among older adults in South Korea. Specifically, in urban areas, older adults with higher social capital were more likely to adhere to COVID-19 preventive behaviors. However, social capital negatively impacted older adults' COVID-19 preventive behaviors in rural areas. Findings suggest that social capital is not always helpful for maintaining COVID-19 preventive behaviors among older adults in South Korea. The social characteristics of geographic location need to be considered when initiating COVID-19 prevention campaigns in South Korea. Geriatr Gerontol Int 2024; 24: 377-384.

The Effects of Neighborhood Trust and Support on Parenting Stress of Mothers With Young Children in Japan.

While childrearing can enhance mothers' psychological well-being, parenting can also increase mental stress for mothers with young children, which is considered a risk factor for child maltreatment. A lack of social capital reportedly influences mothers' parenting, but few studies have investigated the effects of social capital on the perception of mental stress and well-being associated with childrearing among mothers with young children. Therefore, we investigated the effects of lower perceived neighborhood trust and support on higher mental stress and/or lower well-being associated with childrearing among Japanese mothers with children aged 2 to 3 years. A total of 570 mothers with children (aged 2-3 years) in nursery school were invited to join the survey. The childrearing perspective scale for mothers (CPS-M97) was used to evaluate mothers' perceptions of mental stress and well-being associated with childrearing. Odds ratios (ORs) reflecting lower satisfaction/fulfillment scores (ie, well-being) and/or higher burdened/anxious scores (ie, mental stress) associated with perceived social capital levels were analyzed, after adjusting for confounding factors. The OR for lower satisfaction/fulfillment scores was significantly higher (OR = 1.77) for mothers with lower neighborhood trust. Significantly increased ORs for higher burdened/anxious scores were found in mothers with lower neighborhood trust (OR = 1.50) and support (OR = 1.49). The ORs for poor mental status, with lower satisfaction/fulfillment scores and higher burdened/anxious scores, were significantly increased in mothers with lower neighborhood trust (OR = 1.96) and lower neighborhood support (OR = 2.10). Higher social capital was associated with higher psychological well-being and/or lower mental stress in Japanese childrearing mothers. These results suggest that enhancing social capital is necessary to facilitate successful parenting that contributes to the prevention of child maltreatment.

Effect of C-Suite Members’ Social Network Capital on Tail Risk

The purpose of this research is to analyze the impact of the CEO’s and CFO’s social network capital on tail risk. The CEO and CFO are the most dominant members of the top management team. Relationships between the CEO, CFO, and a firm’s stakeholder groups (shareholders, employees, customers and suppliers, society, the environment, and government) form to create a social network that can evolve into social capital. I tested whether the CEO and CFO, with high social capital, can reduce the probability of their company stock persistently landing in the bottom 10% of yearly returns. Various stakeholders in the hierarchy of a social capital network can contribute to this prevention. I found the CFO total connections variable significant in the base model, the overall model, and several subsample models. The interesting result was that CFO and CEO total connections were significant with market risk but not idiosyncratic risk.

The moderation effect of social capital in the relationship between own income, social comparisons and subjective well-being: Evidence from four international datasets

In this paper we check whether social capital changes the association of subjective well-being with own income and social comparisons. We use panel data from Germany and publicly available data from three international surveys, for a total of nearly 500,000 respondents from industrial countries. Results show that the association of own income and social comparisons to subjective well-being weakens for individuals with high social capital. This finding holds in a variety of settings, and is robust to various measures of subjective well-being, of social capital, and of social comparisons. We also find evidence indicating that the role of social capital is, at least in part, causal. Finally, our findings support the macro-level implication that income differences are less related to subjective well-being differences in countries with high social capital.

사회자본에 따른 소셜미디어 이용자의 K팝 참여문화 연구

In this study, the participatory behavior was divided into content consuming intention and content producing intention. These two variables were applied to an expanded model of goaldirected behavior theory. This study also verified the moderating effect of how participatory behavior varies depending on the social capital accumulated in social media. The findings show that motivational variables except the subjective norm had a strong effect on the consuming intention of K-Pop content. The desire variable had a positive effect only on content consuming intention. Furthermore, as a result of the analysis of the moderating effect, it was found that the content consuming intention had a positive effect on the content producing intention in the group with high social capital. This study holds implications in that it analyzed the differences in the participatory behavior of K-Pop content according to the social capital of social media users.