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Social capital of entrepreneurs and small firm performance : A meta-analysis of contextual and methodological moderators

Author

Listed:
  • Wouter Stam

    (HKUST - Hong Kong University of Science and Technology)

  • Souren Arzlanian

    (VU - Vrije Universiteit Amsterdam [Amsterdam])

  • Tom Elfring

    (VU - Vrije Universiteit Amsterdam [Amsterdam])

Abstract

Despite a surge of studies examining the role of social capital in the entrepreneurial process, no quantitative assessments exist of the empirical evidence to date. To resolve seemingly conflicting results, we conducted a meta-analysis of the link between entrepreneurs' personal networks and small firm performance and identify new moderators affecting this relationship. Analyses of 61 independent samples indicated that the social capital–performance link was positive and significant (rc = .211). Effect sizes of weak ties were smaller than those of structural holes, while network diversity had the largest positive effect on performance. Results also showed that the social capital–performance link depends on the age of small firms, the industry and institutional contexts in which they operate, and on the specific network or performance measures used. Based on these findings, we develop recommendations for future research on the contingent value of social capital for small firms.

Suggested Citation

  • Wouter Stam & Souren Arzlanian & Tom Elfring, 2014. "Social capital of entrepreneurs and small firm performance : A meta-analysis of contextual and methodological moderators," Post-Print hal-04850409, HAL.
    • Handle: RePEc:hal:journl:hal-04850409
    DOI: 10.1016/j.jbusvent.2013.01.002
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    Citations

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    Cited by:

    1. Parisa Haim Faridian & Donald Neubaum & Siri Terjesen, 2025. "Untangling the complexity of innovativeness in new ventures: The interplay between causal entrepreneurial processes and social capital," Small Business Economics, Springer, vol. 64(2), pages 451-473, February.
    2. Eriko Naiki & Yuta Ogane, 2024. "Effects of entrepreneurial heterogeneity within necessity- and opportunity-based entrepreneurs on business performance," International Entrepreneurship and Management Journal, Springer, vol. 20(2), pages 807-840, June.
    3. repec:osf:osfxxx:8xmt6_v1 is not listed on IDEAS
    4. Valérie François & Christophe Lafaye & Matthieu Belarouci, 2021. "The role of social capital in the growth of innovative nascent firms: the moderating effect of incubators," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 25(4/5), pages 326-345.
    5. repec:zib:zbeldn:v:1:y:2023:i:1:p:26-37 is not listed on IDEAS
    6. Tomas Dania & Helena Chladkova & Renata Kucerova & Radovan Kozisek & Renata Skypalova, 2025. "Leadership and corporate social responsibility: Attitude of managers towards psychosocial aspects," MENDELU Working Papers in Business and Economics 2025-98, Mendel University in Brno, Faculty of Business and Economics.
    7. Kensbock, Julia M., 2025. "Reaching out or going it alone? How birth order shapes networking behavior and entrepreneurial action in the face of obstacles," Journal of Business Venturing, Elsevier, vol. 40(2).
    8. Jian Liu & Rainer Harms, 2025. "Pathways to survive in abrupt adversities: a configurational approach to understanding the resilience of new venture teams," Review of Managerial Science, Springer, vol. 19(5), pages 1447-1476, May.
    9. Pham Minh Vu & Tu Binh & Linh Nguyen Khanh Duong, 2023. "How social capital affects innovation, marketing and entrepreneurial orientation: the case of SMEs in Ho Chi Minh (Vietnam)," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-17, December.

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