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THE IMPACT OF SOCIAL CAPITAL ON ECONOMIC PERFORMANCE:
LESSONS FROM SMALL AND MEDIUM SIZE ENTERPRISES (SMES)
by
Iva Božović
A Dissertation Presented to the
FACULTY OF THE GRADUATE SCHOOL
UNIVERSITY OF SOUTHERN CALIFORNIA
In Partial Fulfillment of the
Requirements for the Degree
DOCTOR OF PHILOSOPHY
(POLITICAL ECONOMY AND PUBLIC POLICY)
December 2007
Copyright 2007 Iva Božović
Object Description
| Title | The impact of social capital on economic performance: lessons from small and medium size enterprises (SMEs) |
| Author | Bozovic, Iva |
| Author email | bozovic@usc.edu |
| Degree | Doctor of Philosophy |
| Document type | Dissertation |
| Degree program | Political Economy & Public Policy |
| School | College of Letters, Arts and Sciences |
| Date defended/completed | 2007-06-04 |
| Date submitted | 2007 |
| Restricted until | Unrestricted |
| Date published | 2007-09-19 |
| Advisor (committee chair) | Kuran, Timur |
| Advisor (committee member) |
English, Robert Hadfield, Gillian |
| Abstract | The study bridges transition scholarship with social network studies to examine whether the social embeddedness of economic actors in transition is a source of advantage or an impediment for private sector growth. Transition scholars have recognized the omnipresent role of informal personal exchange, reciprocal ties, social networks, and exchange of favors as socialist legacies and path-dependent cultural aspects in the post-communist context. However, they have been less successful in recognizing the role of these cultural factors as agents of institutional change. Adopting a structural approach to social capital, this analysis centers on social networks and the resources embedded in the relationships that form them. Original empirical evidence from small and medium size enterprises (SMEs) in Serbia and Montenegro is utilized to examine whether differences in business success can be explained through the differences in micro-level social capital and the nature of informal exchange relationships.; Empirical analysis shows that, much like confidence in courts, informal networks are an important component of the security of property rights that encourage private sector investment. Variation in the extent to which networks are used in dispute resolution and the degree to which SME managers and owners invest in their business ties help explain differences in profit reinvestment. Probing further into what network aspects drive small business success, the study finds that network structure positively impacts growth in sales. However, structural impact is dependent on the content of exchange facilitated by network ties. When it comes to networks' role in serving as an informal mechanism for contract enforcement, dense and homogenous networks are preferred. For accessing valuable resources, capital, and favors, heterogeneous and less dense networks perform better.; Lastly, this study employs the transaction cost framework to show that costly network ties represent an efficient investment of limited resources. However, individual decisions to optimize on transaction costs through the use of networks can coordinate to socially inefficient outcomes. Suboptimal outcomes can persist when personalized exchange prevents changes to formal institutions designed to lower incentives for the use of social networks. |
| Keyword | social capital; social networks; SMEs; transition; institutions; Serbia and Montenegro |
| Geographic subject (country) | Serbia; Montenegro |
| Language | English |
| Part of collection | University of Southern California dissertations and theses |
| Publisher (of the original version) | University of Southern California |
| Place of publication (of the original version) | Los Angeles, California |
| Publisher (of the digital version) | University of Southern California. Libraries |
| Type | texts |
| Legacy record ID | usctheses-m829 |
| Rights | Bozovic, Iva |
| Repository name | Libraries, University of Southern California |
| Repository address | Los Angeles, California |
| Repository email | http://www.usc.edu/isd/libraries/services/ask_a_librarian/email/ |
| Filename | etd-Bozovic-20070919 |
| Archival file | uscthesesreloadpub_Volume14/etd-Bozovic-20070919.pdf |
Description
| Title | Page 1 |
| Full text | THE IMPACT OF SOCIAL CAPITAL ON ECONOMIC PERFORMANCE: LESSONS FROM SMALL AND MEDIUM SIZE ENTERPRISES (SMES) by Iva Božović A Dissertation Presented to the FACULTY OF THE GRADUATE SCHOOL UNIVERSITY OF SOUTHERN CALIFORNIA In Partial Fulfillment of the Requirements for the Degree DOCTOR OF PHILOSOPHY (POLITICAL ECONOMY AND PUBLIC POLICY) December 2007 Copyright 2007 Iva Božović |
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