Research On Relationship Between Relational Capital And Enterprises Value Creation

Since the 21st century, with the development of market-oriented economy and richness of material products, seller's market is replaced gradually by buyer's market.Competition between enterprises has become more seriously and competitive means has also become more diversely.Enterprises have become concerned the study on stakeholders in order to survive and develop. They have increasingly attended to the requirements of stakeholders and focused on establishing, maintaining and developing a lasting good relationship with them. Relationship capital, as the traditional factor of production, has become the important resource for enterprise development and has increasingly played an important role for enterprise value creation. Analyzing the mechanism on corporate value creation and reflecting the contribution of relationship capital to value creation have become an important research issue.In theory, We deeply analyze the connotation of relationship capital and corporate value creation and study the mechanism on corporate value creation of relationship capital combining with value creation theory in this paper. And we finally improve the theory of relationship capital on access to resources, enhance of competitiveness and improve corporate performance etc.In practice, we construct the integrated evaluation method on enterprise value creation of relationship capital, Which not only provides the comprehensive information of relationship capital for enterprise management, but gives a full play to value creation capabilities of relationship capital.In this paper, we research and evaluate the relationship between relationship capital and corporate value creation using standardized methods. Simultaneously, we also build both empirical model and evaluation model to further study this issue.This article is divided into seven chapters, each chapter is as follows: Chapter 1. Introduction. We introduced the research background,research methods, significance and innovation of relationship between enterprise relationship capital and value creation in this chapter.Chapter 2. Overview of enterprise relationship capital. We started with the concept of relationship capital, then analyzed the general attributes and characteristics, ingredients and measurement of relationship capital, and defined the research scope of relationship capital, at last we further improved and systematized the theory of relationship capital in order to demonstrate the role of relationship capital in the process of enterprise value creation.Chapter 3, Enterprises value theory. At first, We carefully analyzed the connotation of enterprise value, then gived an comparative analysis of the intrinsic value and market value of enterprises and concluded that measuring enterprises' value requires not only financial index, but also need non-financial index, because the intrinsic value of enterprises depend on the competitiveness, acquisition capacity of resources and operational efficiency (ie, enterprises Performance). At last,based on the theory of value creation, we analyzed the mechanism on value creation of relationship capital and demonstrate the theoretical base of relational capita on value creation.Chapter 4, The influence of relationship capital on value creation of enterprises. In this chapter, we specifically analyzed the influence of relationship capital on competitiveness of enterprises,acquisition capacity of resources and operational efficiency,then impact the value creation of enterprises.Based on the theory of enterprises competitiveness and concluded that the relationship capital have significant influence in building competitive advantage; We study the impact of relationship capital on access to enterprise resources from the theoretical and practical aspects in this chapter. and we then define the relevant concepts, build a theoretical model on relationship capital and business resource acquisition;Based on corporate performance theory, we analyze the relationship between relationship capital and corporate performance and study the influence of relationship capital on corporate performance in this chapter.Chapter 5. The evaluation of relationship capital contribution to enterprise value creation. We first compared the previous research on evaluating relationship capital contribution to enterprise value creation and drew on strengths of existing evaluation methods, then we constructed the comprehensive evaluation methods to evaluate the level of relationship capital contribution to enterprise value creation based on value creation theory from the perspective of AHP.Chapter 6. Reconstruction and manage of relationship capital. In view of the foregoing analysis, We pointed the research shortcomings of relationship capital in current Chinese enterprises and demonstrated the significance of relationship capital reconstruction.Chapter7, Conclusions. In this chapter, we summarized the role of relationship capital on performance value creation, pointed out the limitations of relationship capital, and explained the shortcomings of our study.The innovation in this article is as follows:1,The paper combs the theory on the enterprise relationship capital in a comparatively systematic and comprehensive way, defines the connotation and extension of the relationship capital and draws an conclusion that enterprise relationship capital is one of the factors that influence the production of the enterprise's profit and wealth.2,This paper analyze the connotation of enterprise value.Its findings is that the enterprise value is the wealth (including the spiritual wealth, material wealth) created by the enterprise for the society, the return for the investors and expansion of the enterprises themselves the scale, and overall competitiveness of enterprises, acquisition capacity of resources, operational efficiency value is the key to the realization and value creation of enterprise, at the same time it is a reflection of the intrinsic value of enterprise. However, the enterprise inner value≠enterprise competitiveness+acquisition capacity of resources+operational efficiency,this means that the enterprise inner value is not the simple addition of factors. Although the competitiveness of enterprises, acquisition capacity of resources,operational efficiency are the motivation but not the entire in enterprise value creation.This is just one important factor, a factor with other factors,which together coordinate,can play a role in the enterprise's value creation.3,This paper analyzes the influence of relationship capital on value creation of enterprises systematically,In this chapter, we specifically analyzes the influence of relationship capital on competitiveness of enterprises,acquisition capacity of resources and operational efficiency,then impacts the value creation of enterprises. 4,At first,compared the previous research on evaluating relationship capital contribution to enterprise value creation and drew on strengths of existing evaluation methods,we constructed the comprehensive evaluation methods to evaluate the level of relationship capital contribution to enterprise value creation based on value creation theory from the perspective of AHP.