Examination of the mediating mechanism.
<div><p>Social capital plays a crucial role in resource integration within Chinese family businesses. This research investigates the relationship between CEO social capital and the implied cost of capital, while also considering the influence of CEO type on this relationship. The empiric...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | , |
| Published: |
2025
|
| Subjects: | |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1852022177196408832 |
|---|---|
| author | Ya Qi (194565) |
| author2 | Ying Zou (46281) Fuan Shi (20861916) |
| author2_role | author author |
| author_facet | Ya Qi (194565) Ying Zou (46281) Fuan Shi (20861916) |
| author_role | author |
| dc.creator.none.fl_str_mv | Ya Qi (194565) Ying Zou (46281) Fuan Shi (20861916) |
| dc.date.none.fl_str_mv | 2025-03-11T17:39:22Z |
| dc.identifier.none.fl_str_mv | 10.1371/journal.pone.0316535.t010 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/dataset/Examination_of_the_mediating_mechanism_/28576899 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Ecology Sociology Science Policy Infectious Diseases Environmental Sciences not elsewhere classified Biological Sciences not elsewhere classified without intergenerational transmission mechanism analysis confirms investor legal protections improving information transparency heterogeneity analysis reveals fiercely competitive markets economic policy uncertainty china &# 8217 strengthen family governance low family control choose family succession reducing corporate risk listed companies show empirical results based implied capital cost ceo social capital implied cost family ceo social capital share family family business empirical evidence implicit cost ceo type theoretical foundation tech industries research investigates informal system formal institutions entrepreneurial families crucial role classic decision better exert also considering |
| dc.title.none.fl_str_mv | Examination of the mediating mechanism. |
| dc.type.none.fl_str_mv | Dataset info:eu-repo/semantics/publishedVersion dataset |
| description | <div><p>Social capital plays a crucial role in resource integration within Chinese family businesses. This research investigates the relationship between CEO social capital and the implied cost of capital, while also considering the influence of CEO type on this relationship. The empirical results based on China’s A-share family-listed companies show that CEO social capital helps to reduce the implied capital cost of family business. However, compared with non-family CEO, the effect of family CEO social capital on reducing the implied cost of capital is weaker. The mechanism analysis confirms that CEO social capital reduces the implied cost of capital through reducing corporate risk and improving information transparency. The heterogeneity analysis reveals that CEO social capital significantly reduces the implicit cost of capital only in entrepreneurial families, companies with low family control, and those without intergenerational transmission. Additionally, the effect of CEO social capital is more pronounced in fiercely competitive markets and high-tech industries. When economic policy uncertainty is high and investor legal protections are weak, CEO social capital can better exert its complementary effect on formal institutions. These findings not only provide a theoretical foundation for leveraging the informal system of social capital to strengthen family governance but also offer practical insights for addressing the classic decision of whether to choose family succession or hire professional managers.</p></div> |
| eu_rights_str_mv | openAccess |
| id | Manara_e48eef6c50ee43e9b8804fc9fbdcdc8f |
| identifier_str_mv | 10.1371/journal.pone.0316535.t010 |
| network_acronym_str | Manara |
| network_name_str | ManaraRepo |
| oai_identifier_str | oai:figshare.com:article/28576899 |
| publishDate | 2025 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Examination of the mediating mechanism.Ya Qi (194565)Ying Zou (46281)Fuan Shi (20861916)EcologySociologyScience PolicyInfectious DiseasesEnvironmental Sciences not elsewhere classifiedBiological Sciences not elsewhere classifiedwithout intergenerational transmissionmechanism analysis confirmsinvestor legal protectionsimproving information transparencyheterogeneity analysis revealsfiercely competitive marketseconomic policy uncertaintychina &# 8217strengthen family governancelow family controlchoose family successionreducing corporate risklisted companies showempirical results basedimplied capital costceo social capitalimplied costfamily ceosocial capitalshare familyfamily businessempirical evidenceimplicit costceo typetheoretical foundationtech industriesresearch investigatesinformal systemformal institutionsentrepreneurial familiescrucial roleclassic decisionbetter exertalso considering<div><p>Social capital plays a crucial role in resource integration within Chinese family businesses. This research investigates the relationship between CEO social capital and the implied cost of capital, while also considering the influence of CEO type on this relationship. The empirical results based on China’s A-share family-listed companies show that CEO social capital helps to reduce the implied capital cost of family business. However, compared with non-family CEO, the effect of family CEO social capital on reducing the implied cost of capital is weaker. The mechanism analysis confirms that CEO social capital reduces the implied cost of capital through reducing corporate risk and improving information transparency. The heterogeneity analysis reveals that CEO social capital significantly reduces the implicit cost of capital only in entrepreneurial families, companies with low family control, and those without intergenerational transmission. Additionally, the effect of CEO social capital is more pronounced in fiercely competitive markets and high-tech industries. When economic policy uncertainty is high and investor legal protections are weak, CEO social capital can better exert its complementary effect on formal institutions. These findings not only provide a theoretical foundation for leveraging the informal system of social capital to strengthen family governance but also offer practical insights for addressing the classic decision of whether to choose family succession or hire professional managers.</p></div>2025-03-11T17:39:22ZDatasetinfo:eu-repo/semantics/publishedVersiondataset10.1371/journal.pone.0316535.t010https://figshare.com/articles/dataset/Examination_of_the_mediating_mechanism_/28576899CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/285768992025-03-11T17:39:22Z |
| spellingShingle | Examination of the mediating mechanism. Ya Qi (194565) Ecology Sociology Science Policy Infectious Diseases Environmental Sciences not elsewhere classified Biological Sciences not elsewhere classified without intergenerational transmission mechanism analysis confirms investor legal protections improving information transparency heterogeneity analysis reveals fiercely competitive markets economic policy uncertainty china &# 8217 strengthen family governance low family control choose family succession reducing corporate risk listed companies show empirical results based implied capital cost ceo social capital implied cost family ceo social capital share family family business empirical evidence implicit cost ceo type theoretical foundation tech industries research investigates informal system formal institutions entrepreneurial families crucial role classic decision better exert also considering |
| status_str | publishedVersion |
| title | Examination of the mediating mechanism. |
| title_full | Examination of the mediating mechanism. |
| title_fullStr | Examination of the mediating mechanism. |
| title_full_unstemmed | Examination of the mediating mechanism. |
| title_short | Examination of the mediating mechanism. |
| title_sort | Examination of the mediating mechanism. |
| topic | Ecology Sociology Science Policy Infectious Diseases Environmental Sciences not elsewhere classified Biological Sciences not elsewhere classified without intergenerational transmission mechanism analysis confirms investor legal protections improving information transparency heterogeneity analysis reveals fiercely competitive markets economic policy uncertainty china &# 8217 strengthen family governance low family control choose family succession reducing corporate risk listed companies show empirical results based implied capital cost ceo social capital implied cost family ceo social capital share family family business empirical evidence implicit cost ceo type theoretical foundation tech industries research investigates informal system formal institutions entrepreneurial families crucial role classic decision better exert also considering |