The Impact Of Enterprise Social Capital On Marketing Performance

Since Chinese supply-side structural reform,the horn of mass entrepreneurship and innovation has been sounded.Innovation-driven Developmentand economic transformation and upgrading have become national strategies.Under this new economic situation,no matter theoretical research orenterprise practice,the focus is on how to adjust the operating and management strategy,realize enterprise innovation-driven development.In recent years,researchers have introduced the concept of social capital into the study of entrepreneurial theory.Enterprise social capital,which is like the other types of resource,is constantly integrated and utilizated to improve the ability ofenterprise innovation,and can also be formedcompetitive advantages to impove marketing performance.Based on the review of enterprise social capital theory,entrepreneurial theory,marketing theoryand related research literature,there are still some limitations exist: Firstly,it is lack of comprehensive studies on the relationship between enterprise social capital and marketing performance,also the mechanism is lacking,the mechanismof the enterprise social capital on marketing performance need to befurther analyzed.Secondly,the study of social capital was basically confined to the perspective of resources.In the new era of mass entrepreneurship and innovation,resource and opportunity are two important factors,thereforethe study of social capitalshould be considered from perspective of resource and opportunity.Thirdly,the network characteristics of social capital make it necessary for obtaining the legitimacy resources from external institutional environment,the impact oforganizational legitimacy on enterprise operation management also need to be further analyzed.Fourthly,the study of entrepreneurship research focuses on start-up firms.In the era of Chinese supply-side structural reform,how does established firms realize the transformation and development is also need to be further analyzed.According to the analysis above,this paper try to find the relationship between enterprise social capital and marketing performance through perspectives of resource and opportunity,then make a further exploration on the relationship of them.First of all,based on the perspective of resource,we find out the mediating function of enterprise credit in the influence of enterprise social capital on marketing performance,enterprise credit servedas a mediator variable was brought into the theoretical framework;Secondly,based on the perspective of opportunity,we find out the mediating function of opportunity exploration in the influence of enterprise social capital on marketing performance,opportunity exploration is also included in the theoretical framework as a mediator variable;Thirdly,in the study of the impact of social capital on enterprise credit and opportunity exploration,we found the moderating function of organizational legitimacy which is one kind of institutional environmental factors,organizational legitimacy acts as a moderator between social capital and enterprise credit,opportunity exploration.Based on the review of related theories and literature research,this paper proposes a theoretical framework of “enterprise social capital-enterprise credit and opportunity exploration-and marketing performance”.The paper mainly studies the problems below: the influence of enterprise social capital on enterprise credit,the influence of enterprise social capital on opportunity exploration,the influence of enterprise social capital on marketing performance,the mediate role of enterprise credit and opportunity exploration in the influence of enterprise social capital on marketing performance,the moderate role of organizational legitimacy in the influence of social capital on enterprise credit and opportunity exploration.On this basis,the research hypotheses were proposed,andquestionnaire was designed.By survey the established firms from Pearl River Delta,we finally have 358 valid questionnaires.The validity and credibility of sample data were tested and structuralequation model was built by the softwareAmos7.0 and SPSS19.0.Through theevaluation of SEM's fitness,this research tested the validityof theoretical model.After the analysis of the data,conclusions were drawn.1 Based on the perspectives of resource dependence and opportunity exploration,this paper verifies the theoretical framework of "enterprise social capital-enterprise credit and opportunity exploration-marketing performance" and uncover the "black box" howenterprise social capital affects marketing performance.2There is a curvilinear,inverted U-shaped relationship between enterprise social capital and marketing performance.And it represents the curve effect of enterprise social capital on marketing performance.3 Enterprise credit mediated the effect of enterprise social capital and marketing performance.This paper reveals the impact of enterprise social capital on marketing performance based on the perspective of resource dependence.4Opportunity Exploration mediated the effect of enterprise social capital and marketing performance.This paper reveals the impact of enterprise social capital on marketing performance based on the perspective of opportunity exploration.5Organizational Legitimacy moderated the effect of enterprise social capital onenterprise creditand opportunity exploration.That is to say,organizational legitimacy which is an external environmental factorcan have an impact on the relationship between enterprise social capital and marketing performance.This study focuses on the impact of enterprise social capital on marketing performance.Through the logical reasoning of relevant theories and the verification of actual results,the main theoretical innovations and contributions are as follows:1This paper finds out the mediator role of enterprise credit and opportunity explorationin the influence of enterprise social capital on marketing performance,reveals the "black box" how enterprise social capital affects marketing performance,and enriches the theoretical research on enterprise social capital and marketing performance.2 This paperexplores enterprise social capital from the dual perspectives of resource and opportunity,breaks through the limitations of previous resource perspectives and extends the study perspective of social capital and marketing performance.3This paperintroduces organizational legitimacy as a moderate variable into the research model of "enterprise social capital-enterprise credit and opportunity exploration-marketing performance",verifies the moderating function of organizational legitimacy,and enriches the theoretical research on enterprise social capital between enterprise creditand opportunity exploration.4According to the existing research,it is lack of comprehensive studies on the enterprise credit scale.This paper makes an effort to expand and purify the enterprise credit scale.Finally,we divide enterprise credit scale into three dimensions which includes 12 items: credit will,credit ability and credit reputation.Throughtheoretical research and empirical analysis,this paper drew the following administrationimplications: 1 Enterprises should pay more attention to the extentof social capital integration and utilizationto avoid over-effect.2 Highlight the critical role of construction and dissemination of enterprise credit in enterprise operation.3Focus on the process of identifying and exploring opportunities in enterprise operation.4Focus on the application of organizational legitimacy in enterprise operation.It provides a meaningful reference for enterprises to better integrate and utilize their social capital to explore opportunities,promoteinnovation,and enhance credit will,credit ability and credit reputation,so as to obtain good marketing performance.