| ID | 121743 |
| Title Proper | Effects of social capital, top executive attributes and R&D on firm value in Chinese small and medium-sized enterprises |
| Language | ENG |
| Author | Qiao, Penghua ; Fung, Hung-Gay ; Xiaofeng Ju |
| Publication | 2013. |
| Summary / Abstract (Note) | This study uses an unbalanced panel data analysis to examine the effects of social capital, top executive attributes and R&D on firm value in Chinese small and medium-sized enterprises (SMEs) listed on the Shenzhen Stock Exchange Small and Medium-sized Enterprises Board from 2007 to 2011. There are several interesting findings. First, the gender (male) and academic degree of the chairperson in the SMEs have a positive and significant effect on firm value. Second, social capital (measured by political connections, managerial business association networks and technology association networks) and R&D have a positive effect on SME firm value. Third, the effect of political connections on firm value for state-owned enterprises (SOEs) is stronger than for non-SOEs, while the effect of business and technology networks on firm value for non-SOEs is stronger than for SOEs. Our study has important policy implications for SMEs that want to compete successfully in China. |
| `In' analytical Note | China and World Economy Vol. 21, No.4; Jul-Aug 2013: p.79-100 |
| Journal Source | China and World Economy Vol. 21, No.4; Jul-Aug 2013: p.79-100 |
| Key Words | Firm Value ; R and D ; Small and Medium - Sized Enterprises ; Social Capital ; Top Executive Attributes |