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While the importance of physical capital, human capital, and intellectual capital in corporations is well understood, there is another type of capital which has received a lot less attention: Social Capital, broadly defined as the quality of the relationships that a firm, its executives and employees, have built with other stakeholders. What can corporations do to build their social capital? In our research, we suggest that one way of building social capital is through efforts that generally fall within the umbrella of Corporate Social Responsibility (CSR). We show that, in some circumstances, such efforts can add firm value. However, we argue that recent calls to increase firm commitments to CSR initiatives are premature.

Related link:
16/03/2019 - Building Social Capital and Trust: The Role of Corporate Social Responsibility (Athens)