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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. Song, Zijie & Guo, Chenyun & Chen, Yanying & Zhu, Hang, 2025. "The value of public information: Media coverage of incumbent firms and entrepreneurial activities," Journal of Business Research, Elsevier, vol. 197(C).
    2. 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.
    3. Rafał Kusa, 2025. "Mediating role of inter-organizational collaboration in entrepreneurial context: multidimensional analysis," International Entrepreneurship and Management Journal, Springer, vol. 21(1), pages 1-31, December.
    4. 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.
    5. repec:osf:osfxxx:8xmt6_v1 is not listed on IDEAS
    6. 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.
    7. Yao, Yuxin & Yang, Biman & Zhou, Yang, 2025. "Natural disaster experiences and household entrepreneurship: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 102(C).
    8. repec:zib:zbeldn:v:1:y:2023:i:1:p:26-37 is not listed on IDEAS
    9. Zheng Li & Xinghua Wang & Kejun Zhang & Tian Zheng & Jianhua Zhou & Taghreed Ali Alsudais & Xiaotong Zhi, 2025. "Exploring the influence of educational capital on college students’ entrepreneurial performance: a moderated multi-mediation model approach," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-11, December.
    10. Jubalt Alvarez-Salazar & Jean Pierre Seclen-Luna & Jessika Milagros Vasquez Neyra & Andrea Lazarte-Aguirre, 2025. "Networking, experimentation, and financing as drivers of accelerated growth in Peruvian startups," Journal of Innovation and Entrepreneurship, Springer, vol. 14(1), pages 1-23, December.
    11. 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.
    12. 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).
    13. Hay, Georgia & Ward, M.K. & Doorn, Sebastiaan van & Parker, Sharon & Schepis, Daniel, 2025. "The role of work design in entrepreneurship: A review and meta-framework," Journal of Business Research, Elsevier, vol. 189(C).
    14. Harutyunyan, Tatevik & Timmermans, Bram & Frederiksen, Lars, 2025. "Outside board director experience and the growth of new ventures," Journal of Business Venturing, Elsevier, vol. 40(3).
    15. 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.
    16. Jean-Marie Mbuya & Natanya Meyer & Vivence Kalitanyi, 2025. "The nexus between small and medium enterprises critical success factors and financial performance: evidence from Southern and Central African countries," Journal of Innovation and Entrepreneurship, Springer, vol. 14(1), pages 1-21, December.
    17. Abu Daud Pathan, 2025. "Technical Efficiency and its Determinants of Cane and Bamboo Enterprise in Assam: A Conventional DEA, Double Bootstrap DEA, and SFA Approach," SN Operations Research Forum, Springer, vol. 6(3), pages 1-27, September.
    18. 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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