What is the Role of Social Capital in the Innovation Creation Process? Evidence from the European Union
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Tarih
2024
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Academic Conferences and Publishing International Limited
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study empirically analyzes whether social capital has any role in shaping the innovation creation process in 25 members of the European Union over the period 2013-2021. In this context, the innovation model is constructed utilizing balanced panel data and hierarchically estimated with the Poisson Pseudo Maximum Likelihood (PPML) method which is the most appropriate method since the model includes some negative values and count data. The finding strongly supports the encouraging effect of social capital on innovation since it is statistically significant and positive in all model specifications. Besides, the innovation creation process is positively associated with human development, research and development expenditure, population, government effectiveness, and income per capita. When comparatively evaluated estimation results, human development, and social capital lead to forth in terms of contributing more innovation creation process. As a core result of the study, social capital may be considered the workhorse for the innovation creation process since it promotes better coordination of activities through improved interpersonal interactions, increased community trust, and vision-sharing, leading to increased market efficiency and decreased costs. Therefore, it is recommended that these countries develop strategies to enhance their social capital and implement policies to increase especially in bridging and linking social capital, which generates a competitive advantage over their rivals. © 2024 Proceedings of the European Conference on Management, Leadership and Governance. All rights reserved.
Açıklama
20th European Conference on Management, Leadership and Governance, ECMLG 2024 -- 14 November 2024 through 15 November 2024 -- Lisbon -- 205750
Anahtar Kelimeler
European Union, Innovation, PPML, Social capital
Kaynak
Proceedings of the European Conference on Management, Leadership and Governance
WoS Q Değeri
Scopus Q Değeri
N/A
Cilt
20
Sayı
1
