The role of social capital in corporations : a review

Servaes, H and Tamayo, A (2017) The role of social capital in corporations : a review. Oxford Review of Economic Policy, 33 (2). pp. 201-220. ISSN 0266-903X OPEN ACCESS


This article reviews the literature on the role of social capital in the economy, with a particular emphasis on its importance for corporations. We relate social capital to concepts such as trust and corporate culture, and discuss and propose various metrics that capture social capital at the firm level, including firms’ corporate social responsibility (CSR) efforts. We summarize the extant research on the relation between social capital and both firm value and stock market performance. Finally, we analyse whether firms are investing enough in social capital. Throughout our discussion, we propose several avenues for further research.

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Item Type: Article
Subject Areas: Finance
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© 2017 Oxford University Press and Oxford Review of Economic Policy Limited. This is a pre-copyedited, author-produced version of an article accepted for publication in Oxford Review of Economic Policy following peer review. The version of record: Servaes H; Tamayo A, (2017), The role of social capital in corporations : a review, 33, 2, 201-220 is available online at: and at:

Date Deposited: 24 Jan 2017 14:41
Date of first compliant deposit: 19 Jan 2017
Subjects: Corporate responsibility
Social roles
Last Modified: 24 May 2024 01:48

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