Search results for: network capital

Authors: Safak Baykal

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The purpose of this study is analyzing the relationship between self leadership and social capital of people with using Social Network Analysis. In this study, two aspects of social capital will be focused: bonding, homophilous social capital (BoSC) which implies better, strong, dense or closed network ties, and bridging, heterophilous social capital (BrSC) which implies weak ties, bridging the structural holes. The other concept of the study is Trust (Tr), namely interpersonal trust, willingness to ascribe good intentions to and have confidence in the words and actions of other people. In this study, the sample group, 61 people, was selected from a private firm from the defense industry. The relation between BoSC/BrSC and Tr is shown by using Social Network Analysis (SNA) and statistical analysis with Likert type-questionnaire. The results of the analysis show the Cronbach’s alpha value is 0.73 and social capital values (BoSC/BrSC) is highly correlated with Tr values of the people.

Keywords: bonding social capital, bridging social capital, trust, social network analysis (SNA)

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Authors: Yuanyuan Wang, Chun Hui

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Drawing on social capital theory, this article discusses how individuals may utilize network ties to come up with creativity. Social capital theory elaborates how network ties enhances individual creativity from three dimensions: structural access, and relational and cognitive mechanisms. We categorize network ties into strong and weak in terms of tie strength. With less structural constraints, weak ties allow diverse and heterogeneous knowledge to prosper, further facilitating individuals to build up connections among diverse even distant ideas. On the other hand, strong ties with the relational mechanism of cooperation and trust may benefit the accumulation of psychological capital, ultimately to motivate and sustain creativity. We suggest that differential ties play different roles for individual creativity: Weak ties deliver informational benefit directly rifling individual creativity from informational resource aspect; strong ties offer solidarity benefits to reinforce psychological capital, which further inspires individual creativity engagement from a psychological viewpoint. Social capital embedded in network ties influence individuals’ informational acquisition, motivation, as well as cognitive ability to be creative. Besides, we also consider the moderating effects constraining the relatedness between network ties and creativity, such as knowledge articulability. We hypothesize that when the extent of knowledge articulability is low, that is, with low knowledge codifiability, and high dependency and ambiguity, weak ties previous serving as knowledge reservoir will not become ineffective on individual creativity. Two-wave survey will be employed in Mainland China to empirically test mentioned propositions.

Keywords: network ties, social capital, psychological capital, knowledge articulability, individual creativity

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Authors: Maoxin Ye

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This study examines the relationship between social network sites (SNS) usage and social capital. Because SNS usage can expand the users’ networks, and people who are connected in this networks may become resources to SNS users and lead them to advantage in some situation, it is important to estimate the relationship between SNS usage and ‘who’ is connected or what resources the SNS users can get. Additionally, ‘who’ can be divided in two aspects – people who possess high position and people who are different, hence, it is important to estimate the relationship between SNS usage and high position people and different people. This study adapts Lin’s definition of social capital and the measurement of position generator which tells us who was connected, and can be divided into the same two aspects as well. A national data of America (N = 2,255) collected by Pew Research Center is utilized to do a general regression analysis about SNS usage and social capital. The results indicate that SNS usage is negatively associated with each factor of social capital, and it suggests that, in fact, comparing with non-users, although SNS users can get more connections, the variety and resources of these connections are fewer. For this reason, we could lose benefits through SNS usage.

Keywords: social network sites, social capital, position generator, general regression

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Authors: Melissa Dickinson

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In the context of intense global competitiveness and urban transformations, today’s cities are faced with enormous challenges. There is increasing pressure among cities and regions to respond promptly and efficiently to fierce market progressions, to offer a competitive advantage, higher flexibility, and to be pro-active in creating future markets. Consequently, competition among cities and regions within the dynamics of a worldwide spatial economic system is growing fiercer, amplifying the importance of intangible capital in shaping the competitive and dynamic economic performance of organisations and firms. Accordingly, this study addresses how intangible capital influences urban economic development within an urban environment. Despite substantial research on the economic, and strategic determinants of urban economic development this multidimensional phenomenon remains to be one of the greatest challenges for economic geographers. The research provides a unique contribution, exploring intangible capital through the lenses of entrepreneurial capital and social-network capital. Drawing on business surveys and in-depth interviews with key stakeholders in the case of the three UK Core Cities Birmingham, Bristol and Cardiff. This paper critically considers how entrepreneurial capital and social-network capital is a crucial source of competitiveness and urban economic development. This paper deals with questions concerning the complexity of operationalizing ‘network capital’ in different urban settings and the challenges that reside in characterising its effects. The paper will highlight the role of institutions in facilitating urban economic development. Particular emphasis will be placed on exploring the roles formal and informal institutions have in delivering, supporting and nurturing entrepreneurial capital and social-network capital, to facilitate urban economic development. Discussions will then consider how institutions moderate and contribute to the economic development of urban areas, to provide implications in terms of future policy formulation in the context of large and medium sized cities.

Keywords: urban economic development, network capital, entrepreneurialism, institutions

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Authors: Yi-De Liu

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The aim of this paper is to discuss how the construct of networking and social capital can be used to understand the effect events can have on the cultural sector. Based on case study, this research sought the views of those working in the cultural sector on Liverpool’s year as the European Capital of Culture (ECOC). Methodologically, this study involves literature review to prompt theoretical sensitivity, the collection of primary data via online survey (n= 42) and follow-up telephone interviews (n= 8) to explore the emerging findings in more detail. The findings point to a number of ways in which the ECOC constitutes a boost for networking and its effects on city’s cultural sector, including organisational learning, aspiration and leadership. The contributions of this study are two-fold: (1) Evaluating the long-term effects on network formation in the cultural sector following major event; (2) conceptualising the impact assessment of organisational social capital for future ECOC or similar events.

Keywords: network, social capital, cultural impact, european capital of culture

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Authors: Jessica Liqin Kong

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Female engineers and scientists face unique challenges in their careers that make the development of professional networks crucial, but also more difficult. Working to overcome these challenges, ‘The Network’ was established in 2013 at the Queensland University of Technology (QUT) in Australia as an alumni chapter with the purpose of evoking continuous positive change for female participation and retention in science, technology, engineering and mathematics (STEM). ‘The Network’ adopts an innovative model for a Women in STEM alumni chapter which was inspired by the cradle to cradle approach to engagement, and the concept of growing and harvesting individual and collective social capital through a variety of initiatives. ‘The Network’ fosters an environment where the values exchanged in social and professional relationships can be capitalized for both current and future women in STEM. The model of ‘The Network’ acts as a simulation and opportunity for participants to further develop their leadership and other soft skills through learning, building and experimenting with ‘The Network’.

Keywords: women in STEM, engagement, Cradle-to-Cradle, social capital

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Authors: Lucian J. Pitt

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The primary purpose of this study is to understand the differences in the relationship between working capital management efficiency, working capital investment decisions and working capital finance decisions and the profitability of firms within the context of two African developing economies, Kenya and Nigeria. The study finds that there is a significant difference in the relationship between the firm’s profitability and the working capital variables which suggests different challenges for working capital management in each of these countries.

Keywords: working capital management, working capital investment, working capital finance, profitability, cash conversion cycle

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Authors: Novawiguna Kemalasari, Ahmad Badawi Saluy

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Recent economic developments are more dependent on the value created by intangible assets than tangible company's assets. Intangible assets in question is intellectual capital that is recognized as the basis of individual, organizational, and general competition in the 21st century. The rapid global economy and technological innovations that have led to tough competition in the business world, make IC creation, management, measurement, and evaluation an important indicator in improving company performance that will affect the value of the company in the future. This study aims to determine the strong influence of intellectual capital on corporate performance, and how the influence of human capital on structural capital and relation capital. By distributing questionnaires to 100 employees of banking companies in Jakarta with middle and upper positions. Approach method used is Partial Least Square (PLS) Based on research that has been done, it can be concluded that human capital has influence on relation capital and structural capital. Similarly, the influence on the performance of the company turned out to human capital and relation capital has a significant influence, but structural capital has a non-significant effect on company performance.

Keywords: human capital, structural capital, relation capital, corporate performance

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Authors: Adeleke Omolade

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The study investigated the impacts of capital goods' import and human capital on the economic growth of the Sub Sahahra Africa (SSA). 30 countries were used in the Panel- ARDL analysis where economic growth is the dependent variables and capital goods' import, human capital, primary export, investment exchange rate, among others were used as the independent variables. The result from the panel analysis indicates that capital goods' import will significantly and positively influence economic growth but human capital fails to have significant positive impact on economic growth of the SSA. Earlier the trend analysis and the correlation results have shown that there is a weak association between capital goods' import and human capital in the SSA. The results offer an expository analysis that reveals that the quality of the human capital is very germane to the effective utilization of capital goods' import for the purpose of growth in a primary goods' export dominated region like the SSA.

Keywords: capital goods import, economic growth, human capital, Sub-Sahara Africa

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Authors: Kolesnikova Julia, Fakhrutdinova Elena, Zagidullina Venera, Kamasheva Anastasia

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The article deals with the structure of intangible capital. A significant share of intangible capital is associated with a person as such and can be considered as human capital, which in turn also has a complex structure, including intellectual, social, organizational, client, reputational capital. We have allocated a separate category of intangible capital - unidentifiable capital, including a variety of synergistic interaction effects, etc. the structure of intangible capital. A significant share of intangible capital is associated with a person as such and can be considered as human capital, which in turn also has a complex structure, including intellectual, social, organizational, client, reputational capital. We have allocated unidentifiable capital as a separate category of intangible capital, including a variety of synergistic interaction effects and other.

Keywords: intangible capital, intangible property, object of intangible property, reputation capital

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Authors: S. Brahmi, S. Aitouche, M. D. Mouss

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Every modern company should measure the value of its intellectual capital and to report to complement the traditional annual balance sheets. The purpose of this work is to measure the intellectual capital in an Algerian company (or production system) using the Weightless Wealth Tool Kit (WWTK). The results of the measurement of intellectual capital are supplemented by traditional financial ratios. The measurement was applied to the National Company of Wells Services (ENSP) in Hassi Messaoud city, in the south of Algeria. We calculated the intellectual capital (intangible resources) of the ENSP to help the organization to better capitalize on its potential of workers and their know-how. The intangible value of the ENSP is evaluated at 16,936,173,345 DA in 2015.

Keywords: financial valuation, intangible capital, intellectual capital, intellectual capital measurement

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Authors: Shivani Khare

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It is of paramount concern for economists to uncover the factors that determine human capital development, considered now to be one of the major factors behind economic growth and development. However, no human action is isolated but rather works within the set-up of the society. In recent years, a new field of investigation has come up that analyses the relationships that exist between social and human capital. Along these lines, this paper explores the effect of social capital on the indicators of human capital development – life expectancy at birth, mean years of schooling, and per capita income. The applied part of the analysis is performed using a panel data model for OECD countries and by using a series of chronological periods that within the 2005–2020 time frame.

Keywords: social capital, human capital development, trust, social networks, socioeconomics

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Authors: Asif Iqbal

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Working capital management has its effect on liquidity as well as on profitability of a firm. In this research we have selected a sample of 100 respondents whose firms are listed on Karachi stock exchange. We have studied the effect of different variable s of working capital management. We find that organizations throughout the world as well as in Pakistan have to give immense recognition to the working capital management as it is an effective thing from their long term perspective especially to their shareholders to have a firm confidence over the companies for investment purpose.

Keywords: working capital management, Karachi stock exchange, shareholders, capital management

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Authors: Martin Surya Mulyadi, Rosinta Ria Panggabean

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The terms of intellectual capital emerge as the economic activity shift from the agricultural economy to knowledge economy and it will allow corporations to earn competitive advantage to its competitors. Considering its importance, many researches have a focus on how corporations disclose its intellectual capital. This intellectual capital research mainly focuses on developed country with only several researchers conducted this research in developing the country. While there are several intellectual capital researches in developing country, to authors’ best knowledge, there is no intellectual capital reporting research in Indonesia published internationally. This research will focus on two industries that acknowledge having a high reliance on intellectual capital: finance industry and the pharmaceutical industry. Our research found that Indonesian corporations in these industries are aware of the importance of intellectual capital, and variations of this disclosure exist within the industry.

Keywords: Developed country, Indonesia, Intellectual Capital, Intellectual Capital Reporting

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Authors: Meltem Gurunlu

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One of the central problems in corporate finance is the allocation of funds. This usually takes two forms: allocation of funds across firms in an economy or allocation of funds across projects or business units within a firm. The first one is typically related to the external markets (the bond market, the stock market, banks and finance companies) whereas the second form of the capital allocation is related to the internal capital markets in which corporate headquarters allocate capital to their business units. (within-group transfers, within-group credit markets, and within-group equity market). The main aim of this study is to investigate the nature of capital allocation dynamics by comparing the relevant studies carried out on external and internal capital markets with paying special significance to the business groups.

Keywords: internal capital markets, external capital markets, capital structure, capital allocation, business groups, corporate finance

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Authors: H. M. Avanesyan

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Economists have been discussing the importance of intangible assets for the success of organization for many years. The term intellectual capital was popularized in the 1990s by Thomas Stewart. “Intellectual capital is the knowledge, applied experience, enterprise processes and technology customer relationship and professional skills which are valuable assets to an organization.” Human capital – includes employee brainpower, competence, skills, experience and knowledge. Customer capital – includes relations and networks with partners, suppliers, distributors, and customers. The objective of the article is to assess one of the key components of organizational culture – organizational values. The focus of the survey was on assessing how intellectual capital presented in these values of the organization. In the conclusion section the article refers to underestimation of intellectual capital by the organization management and the various possible negative effects of the latter.

Keywords: human capital, intellectual capital, organizational culture, management, social identity, organization

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Authors: Yue Xu

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This paper establishes the fund manager’s capital raising ability as an important managerial skill that fund firms exploit to generate higher firm revenues. Fund firms reallocate fund managers with high capital raising ability to other funds with large outflows. Investors demand the capital raising ability of managers and reward it by investing more capital despite lower future alphas. A team with a larger experience difference between reallocated managers and existing managers attracts more capital inflows, suggesting that there is a synergy effect on the fund manager’s capital raising ability.

Keywords: mutual fund, manager, fund firm, reallocation, revenue

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Authors: Johannes Atug, Stefan Braunreuther, Gunther Reinhart

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Volatile markets, as well as increasing global competition in manufacturing, lead to a high demand of flexible and agile production systems. These advanced production systems in turn conduct to high capital expenditure along with high investment risks. Developments in production regarding digitalization and cyber-physical systems result to a merger of informational- and operational technology. The approach of this paper is to benefit from this merger and present a framework of a production network with scalable production capacity and low capital expenditure by adaptation of the IT concept 'everything as a service' into the production environment.

Keywords: digital manufacturing system, everything as a service, reconfigurable production, value network

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Authors: Yolanda Ramírez, Ángel Tejada, Agustín Baidez

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The purpose of this paper is to examine the quality of voluntary intellectual capital disclosure by public Spanish universities on their websites. To this end, a content analysis was used to analyze the websites of 50 public Spanish universities i 2016. The results of this study show that human capital was the most disclosed category with relational capital being the least frequently disclosed in Spain. However, the quality of structural capital disclosures was higher than relational and human capital. Finally, most IC disclosures were narrative in nature.

Keywords: intellectual capital, quality disclosure, websites, universities, Spain

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Authors: Maciej Dudek, Robert Kruszewski, Janusz Kudla, Konrad Walczyk

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In this paper, we study how taxation of bequests affects human capital formation in the long term and short term horizon. Our underlying model is an overlapping generation model (OLG) with some degree of altruism on the part of the ancestors' generation towards their descendants. We ask the question in three separate frameworks. First, we study a simple one-sector model where a proxy of human capital is wage income. It the steady-state -for CRRA utility function and human capital produced with non-decreasing returns -the taxation of bequests is neutral to the accumulation of human capital. In the second framework, neutrality applies to the growth rates of human capital, physical capital, and consumption. In this case, taxation increases the level of bequests, leading to a lower value of current consumption. Finally in we consider two periods model instead of infinite horizon model as long as the tax revenue is at least partially rebated back to the public, the fraction of human capital engaged in the process of formation of human capital increases with the tax rate on bequests. In other words, taxation of bequests is partially offset by an increase in human capital formation. Higher human capital allows the future generation to earn higher wages, and today's generation can find it optimal to endow the future generation with more human capital when taxation is imposed on physical capital transferred to the next generation.

Keywords: taxation, bequests, policy, human capital

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Authors: Mingbao Chen

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The blue economy is a new comprehensive marine economy integrated with resources, industries, and regions, and is an upgraded version of the marine economy. The blue economy attaches great importance to the coordinated development of the ecological environment and the economy, which is an emerging economic form advocated by all countries in the world. This paper constructs the model including four variables：natural capital, economic capital, intellectual capital, cultural capital. Theoretically, this paper deduces the function mechanism of variables on economic growth, and empirically calculates the driving force and influence of the blue economy on the national economy by using data of China's 2006-2015 year. The results show that natural capital and economic capital remain the main factors of blue growth in the blue economy. And with the development of economic society and technological progress, the role of intellectual capital and cultural capital is bigger and bigger. Therefore, promoting the development of marine science and technology and culture is the focus of the future blue economic development.

Keywords: blue growth, natural capital, intellectual capital, cultural capital

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Authors: Chih Chin Yang

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The paper proposed a new theory of intellectual capital (so called IC) and a value approach in associated with production and market. After an in-depth review and research analysis of leading firms in this field, a holistic intellectual capital model is discussed, which involves transport, delivery supporting, and interface and systems of on intellectual capital. Through a quantity study, it is found that there is a significant relationship between the product value and infrastructure in a company. The product values are transferred from intellectual capital elements which includes three elements of content and the enterprise includes three elements of infrastructure in its market and product values of enterprise.

Keywords: enterprise, product value, intellectual capital, market and product values

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Authors: Pitimanus Bunlue

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This research aim (1) to determine the content of communication, social capital and cultural capital to promote tourism in the province to create awareness, motivation and desire to tourists visiting Thailand (2) to evaluate the performance of innovation communication social capital and cultural capital to promote tourism southern of Thailand. This research is a qualitative research. A research synthesis projects on social capital and cultural capital by use focus group discussions with media professionals and academics to communicate using a random sample specific. The result show that (1) Innovative communication, social capital and cultural capital and effective communication innovations after everyone wants to travel to Ranong province is the very highest level. (2) Information and experience about Ranong at a high level. (3) The data shows the strengths of each of the attractions at a high level. (4) The data shows a lifestyle that is unique to the province is moderate.

Keywords: innovative communication, promoting tourism, southern of Thailand, social capital

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Authors: Firas A. N. Al-Dalabih

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This study aims at identifying the level of disclosure of intellectual capital at the Jordanian development banks. The study sample composed of (100) individuals working at the National Bank to Finance Small Projects around the different governorates of the Hashemite Kingdom of Jordan. A questionnaire has been prepared and distributed over the study sample. (95) Questionnaires have been retrieved; valid for the statistical analysis purposes with a percentage of (95%). The study results showed that the level of disclosure of intellectual capital with all its dimensions (human capital, customer capital and structural capital) at the Jordanian development banks was of a high level. The results also showed that there is a high level of awareness performed by the Jordanian development banks’ employees in regard to the necessity and importance of the intellectual capital’s disclosure. The study was concluded with a number of recommendations among which were that the Jordanian development banks shall take notice toward increasing their workers’ awareness regarding the importance of intellectual capital’s disclosure, as well as applying this study over commercial and Islamic banks for the purposes of carrying out a comparison between them and the development banks.

Keywords: intellectual capital, Jordanian development banks, the level of disclosure

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Authors: Beatrice Eyram Afi Ziorklui, Norihisa Shima

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Community Driven Development (CDD) is now a widely recommended and accepted development strategy for informal communities across the continent. Centered on the utilization of social capital through community structures, different informal settlements have different structures and different levels of social capital, which affect the implementation and ability to overcome CDD challenges. Although known to be very successful, there are few perspectives on the implementation of CDD initiatives in different informal settlements. This study assesses the implementation of CDD initiatives in migrant and indigenous informal settlements and their ability to navigate challenges. The case study research design was adopted in this research, and respondents were chosen through simple random sampling. Using the Statistical Package for social scientists (SPSS) for data analysis, the study found that migrant informal settlements implement CDD projects through the network of hierarchical structures based on government systems, whereas indigenous informal settlements implement through the hierarchical social structure based on traditions and culture. The study also found that, with the exception of the challenge of land accessibility in migrant informal settlements, all other challenges, such as participation, resource mobilization, and maintenance, have a significant relationship with social capital, although indigenous informal settlements have higher levels of social capital than migrant informal settlements. The study recommends a framework that incorporates community characteristics and the underlying social capital to facilitate upgrading strategies in informal in Ghana.

Keywords: community driven development, informal settlements, social capital, upgrading

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Authors: Vichada Chokesikarin

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We propose that the ability to create the business success requires Adversity Quotient (AQ) and Human Capital (HC). The aims of the present study are to investigate adversity quotient, human capital and entrepreneurial success of accommodation entrepreneurs in Pranakorn, Bangkok and to examine the relationship between AQ, HC and Entrepreneurial Success. The participants of this study were 112 entrepreneurs in accommodation business in the Khao San/Grand Palace, the location nearby demonstration area in 2014. Specifically, we focus on higher adversity which provides a measure of one’s perceived capacity to prevail in the face of adversity and the effects of human capital on success. Results indicated that there is significant relationship between human capital and entrepreneurial success, while adversity quotient was found to partially mediate the entrepreneurial success. Moreover, our findings showed that the human capital -experience and skills- are more important than adversity quotient. This suggests that the entrepreneurial success should rely on their skill and experiences.

Keywords: accommodation business, adversity quotient, entrepreneurial success, human capital

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Authors: Anjli Pathak, Harshit Sosan Lakra, Smriti Mishra

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The increasing urbanization affects the external environment in which people exist and imposes livelihood vulnerability to shocks and stresses. Although research on the linkages between urbanization and vulnerability has been increasing, only a few studies have examined the caste/ethnicity in livelihood vulnerability. In this study, we explore how physical capital influences vulnerability among indigenous people in the context of livelihood. The study identifies the dimensions and indicators of physical capital that influence the profile of household vulnerability in the livelihood-building process. The result identified five dimensions and 19 indicators of livelihood vulnerability. The study also visualizes the inter-relationship between physical capital and other livelihood capital in formulating the livelihood vulnerability framework.

Keywords: urbanization, livelihood vulnerability, indigenous people, physical capital

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Authors: Nhabhat Chaimongkol

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Human capital is one of the factors that are vital for economic growth. This is especially true as humans will face increasingly more forms of disruptive technology in the near future. Therefore, there is a need to develop human capital in order to overcome the current uncertainty in the global economy and the future of jobs. In recent years, Thailand has increasingly devoted more attention to developing its human capital. The Thai government has raised this issue in its national agenda, which is part of its 20-year national strategy. Currently, there are multiple challenges and solutions regarding this issue. This study aims to find out what are the challenges and solutions to human capital development in Thailand. The research in this study uses mixed methods consisting of quantitative and qualitative research methods. The results show that while Thailand has many plans to develop human capital, it is still lacking the necessary actions and integrations that are required to achieve its goals. Finally, the challenges and solutions will be discussed in detail.

Keywords: challenges, human capital, solutions, Thailand

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Authors: Suha Alawadhi, Malak Alrasheed

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In the recent past, public participation in governments has been declined to a great extent, as citizens have been isolated from community life and their ability to articulate demands for good government has been noticeably decreased. However, the Internet has introduced new forms of interaction that could enhance different types of relationships, including government-public relationship. In fact, technology-enabled government has become a catalyst for enabling social inclusion. This exploratory study seeks to investigate public perceptions in Kuwait regarding the use of social media networks in government where social capital is built to achieve social inclusion. Social capital has been defined as social networks and connections amongst individuals, that are based on shared trust, ideas and norms, enable participants of a network to act effectively to pursue a shared objective. The quantitative method was used to generate empirical evidence. A questionnaire was designed to address the research objective and reflect the identified constructs: social capital dimensions (bridging, bonding and maintaining social capital), social inclusion, and social equality. In this pilot study, data was collected from a random sample of 61 subjects. The results indicate that all participants have a positive attitude towards the dimensions of social capital (bridging, bonding and maintaining), social inclusion and social equality constructs. Tests of identified constructs against demographic characteristics indicate that there are significant differences between male and female as they perceived bonding and maintaining social capital, social inclusion and social equality whereas no difference was identified in their perceptions of bridging social capital. Also, those who are aged 26-30 perceived bonding and maintaining social capital, social inclusion and social equality negatively compared to those aged 20-25, 31-35, and 40-above whose perceptions were positive. With regard to education, the results also show that those holding high school, university degree and diploma perceived maintaining social capital positively higher than with those who hold graduate degrees. Moreover, a regression model is proposed to study the effect of bridging, bonding, and maintaining social capital on social inclusion via social equality as a mediator. This exploratory study is necessary for testing the validity and reliability of the questionnaire which will be used in the main study that aims to investigate the perceptions of individuals towards building social capital to achieve social inclusion.

Keywords: government, social capital, social inclusion, social networks

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Authors: Uyen Tran Tu

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The decision on capital structure is one of the most important and sophisticated decisions in financial management in order to improve firm performance. This article would study the two-way impact between capital structure and firm performance. The study use EVIEWS 6.0 software to determine a two-way relationship between the capital structure and firm performance based on two-stage regression (2SLS - Two-Stage Least Squares). The findings are: capital structure has the opposite effect on the business efficiency and vice versa, factors that effect on business efficiency include Size and Opportunities. Factors effects on the capital structure are size; liquidity. These factors also affect the ratio of capital structure (total debt/ total asset) of companies. In particular, liquidity has the opposite effect; and the size of the business has the same impact. The results of the study are in line with the theory and empirical studies presented, and the results of the study are unchanged for all three years 2015-2017.

Keywords: capital structure, firm performance, factors, two-way relationship

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