Research On The Value Creation Of Social Capital In Chinese Enterprises

The basic source of enterprise value creation is the variety of resources it owns.In the era of industrial economy era,tangible assets and financial assets are the main sources of enterprise value creation.Nowadays,the development of information technology makes the mobile Internet,Internet of things,Large data,Cloud computing,"Industry 4.0" and other concepts and technologies gradually integrated into our economic society.In such a global information network,the source of the enterprise value increment has changed: Enterprises are increasingly focus on using the relationship between stakeholders to create value for themselves.Therefore,a new form of capital has emerged--Enterprise Social Capital.Obviously,it has become an important driving force for the creation of value in modern enterprises.As an intangible resource,which embedded in the social network structure,Enterprise social capital has attracted more and more attention in the fields of Economics,Management and Sociology.It has become a hot issue in academic research.Based on the theory of Stakeholder Theory and Value Management Theory,this paper makes a systematic study on the field of enterprise social capital and explores the relationship between enterprise social capital and enterprise value creation.In other words,this paper is to study the value creation of enterprise social capital,in order to provide some references for enterprises' management.This paper argues that,Today,enterprises are facing an increasingly competitive market environment,in addition to focusing on the advantages of traditional material resources and technological advantages,enterprises should aim at the long-term intrinsic value,and pay more attention to the value creation of enterprise social capital,so as to realize the benign interaction between enterprise's own capital and social capital,and to create new growth points for the enterprise value.This paper combines normative research with empirical research,it intends to carry out research along this line: “Literature review at home and abroad--Relevant theoretical basis--A theoretical analysis of the influence of enterprise social capital on enterprise value creation--An empirical study on the value creation effect of enterprise social capital--Conclusions and Recommendations”.The specific research ideas are as follows: First of all,review and comment the related literature at home and abroad.In this part,it points out that the theoretical analysis of enterprise social capital is not enough,and the empirical support of value creation effect is insufficient,so as to illustrate the problem to be studied once again.Secondly,do this research through two main lines: The first main line(Theoretical analysis)--According to StakeholderTheory,Collective Selection Theory,Enterprise Resource Theory,Value Management Theory and Social Capital Theory,this paper explores enterprise social capital in depth,and redefines enterprise social capital and its classification,so as to reveal the mechanism that enterprise social capital affects enterprise value creation.Based on this,establish a corresponding theoretical model finally.The second main line(Empirical Research)--Select corresponding measurement indicators,which come from the different dimensions of enterprise social capital,and use factor analysis method to extract the enterprise social capital composite index;and then take them as explanatory variables,and consider the corresponding control variables to establish an empirical model;Finally,use multiple linear regression method to test the effect of value creation of corporate social capital through the construction of empirical model.The results show that the model is very significant on the whole,indicating that the fitting effect is very good,and it confirms the value creation of enterprise social capital:The richer the corporate social capital,the stronger the ability of the enterprise to create the value,and the greater the value of creation.Finally,according to the conclusion of the research,this paper puts forward some countermeasures and suggestions on how to make effective use of corporate social capital to create value for enterprises.