A Literature Review of the Influence of Social Capital on Commercial Credit

Source:
By:Author(s)

DOI: https://doi.org/10.30564/mmpp.v3i2.3506

Abstract: As a typical informal system, social capital plays an important supplementary role in China’s economic transition period. Informal finance based on commercial credit plays a role in the economic cycle. However, there is currently a lack of literature to directly examine the impact of social capital on the use of commercial credit by enterprises. This article aims to systematically sort out the theoretical development of social capital on commercial credit, which mainly includes the definition of social capital, its effects, the influencing factors of commercial credit, and the summary of the existing research results of social capital on commercial credit. It is hoped that this literature review will provide guidance for future research. References:

[1] Wang Guogang, Pan Deng. Horizontal Financial Reform Empowers Double Economic Cycles [N]. Chinese Journal of Social Sciences, 2020, (3). [2] Yu Minggui, Pan Hongbo. Financial Development, Commercial Credit and Product Market Competition [J]. Management World, 2010, (8), 117-129. [3] Coleman, J. S.Social Capital in the Creation of Human Capital. American Journal of Sociology, 1988, 95-120. [4] Putnam, R. D. The Prosperous Community. The American Prospect,1993, 4(13), 35-42. [5] Fukuyama, Francis. Trust: the Social Virtues and the Creation of Properity, Nueva York, The Free Press, 1995. [6] La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R. “Trust in Large Organization”, American Economic Review, 1997, 87, 333-338. [7] Portes Alejandro. Social Capital: Its Origins and Applications in Modern Sociology [J]. Annual Review of Sociology, 1998, 24. [8] Lin Nan. Social Capital: A Theory of Social Structure and Action [M]. New York: Cambridge Univ. Press, 2001. [9] Bian Yanjie, Qiu Haixiong. Corporate Social Capital and Its Efficacy [J]. Chinese Social Sciences, 2000, (2), 89-99+207. [10] Zou Yibin. Social Capital: A Literature Review of Theoretical and Empirical Research [J]. Economic Review, 2005, (6), 121-126. [11] Shi Junwei, Hu Lijun, Fu Haiyan. The Structure of Corporate Social Capital: an Empirical Study Based on Chinese Listed Companies [J]. China Industrial Economics, 2007, (2), 84-93. [12] Wu Zhiwei. Research on the Connotation and Function of Corporate Social Capital [J]. Soft Science, 2003, (4-5), 19-21. [13] Luo Danglun, Tang Qingquan. Political Relations, Social Capital and Policy Resource Acquisition: Empirical Evidence from Chinese Private Listed Companies [J]. World Economy, 2009, 4(7), 84-96. [14] Chen Jiagui, Wang Qin. Sustainable Development of China’s Industrial Clusters and Public Policy Choices[J]. China Industrial Economics, 2005, (9), 5-10+33. [15] Yan Chengliang. Social Capital, Innovation and Long-term Economic Growth [J]. Economic Research, 2012, 47(11), 48-60. [16] Liu Fengwei, Li Lin, Xue Yunkui. Trust, Transaction Cost and Business Credit Model [J]. Economic Research, 2009, 44(8), 60-72. [17] Zhou Jin, Jing Guangzheng, Sui Hongguang. How does social capital improve the quality of China’s economic growth? [J]. Economic Science, 2018, (04), 33-46. [18] Guiso, L.,Sapienza, P., and Zingales, L. The Role of Social Capital Financial Development Ameirean Eeonomie Review, 2004, (94). [19] Pan Yue, Dai Yiyi, Wu Chaopeng, Liu Jianliang. Social Capital, Political Relations and Corporate Investment Decision-making [J]. Economic Research, 2009, 44(11), 82-94. [20] Adler, P. S., Kwon, S. W. Social Capital: Prospects for a New Concept[J].Academy of Management Review, 2002, (27), 17-40. [21] Xiao Zuoping, Zhang Ying. The Influence of Social Capital on Bank Loan Contracts [J]. Securities Market Herald, 2014,(12), 32-40. [22] Petersen, M. A., Rajan, R. G.Trade Credit:Theory and Evidence[J]. Review of Financial Studies, 1997, (10), 661-691. [23] Wei Shouhua. The Dynamic Mechanism and Empirical Analysis of Cluster Competitiveness [J]. China Industrial Economy, 2002, (4), 27-34. [24] Wu Chaopeng. “How do Countries with Weak Intellectual Property Protection Develop High-tech Industries?-Theoretical and Empirical Evidence from Chinese High-tech Companies”, PhD Dissertation, School of Management, Xiamen University, 2009. [25] Allen, F., Qian, J., Qian, M.Law, Finance, and Economic Growth in China [J]. Journal of Financial Economics, 2005, (77), 57-116. [26] Ang, J., Cheng, Y., and Wu C. “Social Capital, Cultural Biases, and Foreign Investment in Innovation: Evidence from China”, Working paper, Florida State University, 2009. [27] Dai Yiyi, Zhang Junsheng, Zeng Yamin, Pan Yue. Social Capital and Corporate Debt Financing [J]. China Industrial Economics, 2009, (8), 99-108. [28] You Jiaxing, Liu Chun. Entrepreneur’s Social Capital and Cost of Equity Capital from the Embedded Perspective——Empirical Evidence from My Country’s Private Listed Companies [J]. China Industrial Economics, 2011, 4(6), 109-119. [29] Sze lenyi I. Social inequalities in state socialist redistributive economies[J]. International journal of comparative sociology,1978,19(1-2), 63-87. Nee V.Social inequalities in reforming state socialism: between redistribution and markets in China [J]. American sociological review, 1991, 267-282. [30] Stiglitz, J. E. “Formal and Informal Institutions”, in Social Capital: A Multifaceted Perspective, The International Bank for Reconstruction and Development. The World Bank, 2000, 59-70. [31] Pan Yue,Wang Yuguang,Xu Ting.Social Capital, Government Intervention and Regional Capital Allocation Efficiency——Evidence from Provincial Industrial Data[J].Audit and Economic Research, 2015, 30(5), 85-94. [32] Xu Yekun, Li Wei’an. Does Social Capital Affect the Source of Debt of Private Enterprises? [J]. Economic Management, 2016, 38(4), 46-59. [33] Yang Xingquan, Zhang Fangyue, Yang Zheng. Social Capital and Corporate Financialization: Positive Boost or Negative Restraint [J/OL]. Modern Finance, 2021, (4), 3-17. [34] Zheng Jun, Lin Zhonggao, Peng Lin. Can High-quality Internal Control Increase Commercial Credit Financing? ——A Test Based on the Perspective of Monetary Policy Changes [J]. Accounting Research, 2013, (6), 62-68+96. [35] Daniela Fabbri,Leora F. Klapper. Bargaining power and trade credit [J]. Journal of Corporate Finance, 2016, 41. [36] Zhang Tiezhu, Zhou Hong. Research on the Influencing Factors of Commercial Credit Provided by Listed Companies [J].Financial and Trade Research,2009, 20(03), 121-127. [37] Xu Xiaoping, Li Meng. Provision of Commercial Credit: Evidence from Small and Medium-sized Enterprises in Shanghai [J]. Financial Research, 2009, (6), 161-174. [38] Zhu Jigao, Lu Zhengfei. Monetary Policy, Corporate Growth and Changes in Cash Holdings [J]. Management World, 2009, (3), 152-158+188. [39] Cao Xiang, Kuang Xiaoping. Institutional Environment and the Effectiveness of Commercial Credit Financing [J]. Contemporary Finance and Economics, 2013, (5), 115-128. [40] Qian Xuesong, Fang Sheng. Has the Reform of the Security Real Right System Affected the Debt Financing of Private Enterprises? ——Empirical Evidence from the Natural Experiment of China’s “Property Law” [J]. Economic Research, 2017, 52(5), 146-160. [41] Chen Shenglan, Liu Xiaoling. Uncertainty of Economic Policy and Company Commercial Credit Supply [J]. Financial Research, 2018 ,(5), 172-190. [42] Mostafa M. H., Ahsan H. Social Capital and Trade Credit [J]. Elsevier Inc., 2019, (61). [43] Wang Yue, Liu Ke. Analysis of The Effect of Social Capital on the Financing of Small and Medium-sized Enterprises Under the Condition of Cluster [J]. Modern Finance and Economics (Journal of Tianjin University of Finance and Economics), 2008, (2), 56-59. [44] Qian Shuitu, Weng Lei. Social Capital, Informal Finance and The Development of Industrial Clusters-Zhejiang Empirical Research [J]. Financial Research, 2009, (11), 194-206.