사회자본이 기업성과에 미치는 영향

Abstract

Recently social capital has become increasingly important as the company's strategic resources and intangible assets that achieve competitive advantage and lead to positive behavior. The Purpose of this study is to investigate the role of social capital to boost corporate performance, by analyzing the corelation between the social capital and the corporate performance of Jeju region. For this purpose, a hypothesis was set, and a structured questionnaire was distributed to the management of Jeju local businesses. The survey method was used and finally 148 responses were collected for the analysis.

The results are as follows. Firstly, a component of social capital, trust had a significant influence on economic and non-economic performance. As trust comprises the core element in terms of social capital, these empirical results do not show the differences when comparing with the previous results studied in the literature. Secondly, the norms, a component of social capital, had also a meaningful relationship with the economic and non-economic performance. Admitting that norms at the local level can have a greater impact on running a business, compared to the big city, the research results can also be supportive of the existing study. Thirdly, social network significantly affected the non-economic performance, but it did not show any positive influence on economic performance. In this regard, network relationships had a positive impact on colleagues and bosses and provided non-economic outcomes such as organizational engagement. The network, rather indirectly related to the organization, did not show the relationship with the economic performance. The implications of this study are as follows: Firstly, it is necessary for the employer to invest in the accumulation of social capital. Particularly, putting more energy on building the network relationships is needed to improve non-financial performance, rather than trust and norms. Secondly, regarding the financial performance, trust is important. Trust serves as the core element in the theory of social capital. In other words, the fact that trust plays a role in improving economic performance by causing the reduction of transaction costs, increased flexibility, openness in decision-making is consistent with the results of previous studies. Thirdly, the performance management strategy in business needs to be made differently, based on the fact that the relationship between trust and economic performance, network and non-economic performance were found very important. Lastly, at the individual level of the organization concerning the accumulation of social capital, more effort is to be made for building the network. In other words, to expand network among members in the organization, it is necessary to support in-company activities including various club-house.