学校代码10702 密级 公 开
中图分类号 C936学号1905210441
硕士学位论文
社会资本、二元创新与企业绩效的关系研究
学位申请人：高坛
指导教师： 宋熊熊 教 授
张海丽 副教授
学科名称： 企业管理
学位门类： 管理学
2022 年 5 月
硕士学位论文
题目：社会资本、二元创新与企业绩效
的关系研究
作者 高坛
指导教师 宋熊熊 专业技术职务 教 授
指导教师 张海丽 专业技术职务 副教授
学科 企业管理
西安工业大学
2022 年 5 月 中国.西安
Research on the Relationship between Social Capital,
Ambidextrous Innovation and Firm Performance
by
Gao Tan
Thesis Submitted to the faculty of the Xi’an Technological University in
Partial Fulfillment of
the Requirements for the Degree of
MASTER
in
Corporate Management
Supervisor: Prof. Michael Song
Supervisor: A.Prof. Zhang Haili
Xi’an Technological University
May 2022
Xi’an, Shaanxi, P.R.China
摘 要
作为企业提升绩效的关键方式，社会资本有助于拓展企业的合作渠道，快速识别和获
取有效信息，满足客户差异化需求，创造绩效新增长点。现有研究中，社会资本与企业绩
效的关系研究结论存在争议。学者们关注了两者间的中介因素，并指出创新是社会资本提
升企业绩效的重要途径。企业发展社会资本能提升资源利用率，拓展获取创新资源的途径，
助力企业革新现有技术，发展新业务，实施二元创新，从而实现绩效提升。然而二元创新
在社会资本与企业绩效间的中介作用机制研究较少。此外，社会资本创造的资源是企业实
施二元创新的基础，但过分积累资源会导致其产生组织惯性，不利于二元创新。因此，本
研究提出社会资本如何通过与二元创新的倒 U 型关系，最终影响企业绩效是重要的研究
问题。
基于社会资本与组织惯性理论，本研究建立“社会资本-二元创新-企业绩效”的关系
模型，并提出 5 个研究假设。本研究探析社会资本如何与利用式创新、探索式创新呈倒U
型关系，最终影响企业绩效，分析利用式创新、探索式创新在两者间的不同中介作用。本
研究以沪深两市 441 家公司为样本，运用多元回归分析、中介检验法验证假设。实证结果
表明：第一，二元创新在社会资本与企业绩效间起不同的中介作用。第二，社会资本与利
用式创新间呈倒 U 型关系，而利用式创新负向影响企业绩效。当社会资本从零增加到拐
点时，社会资本正向影响利用式创新，利用式创新负向影响企业绩效。所以，在社会资本
从零增加到拐点的过程中，社会资本负向影响企业绩效。但是当社会资本到达拐点后，社
会资本负向影响利用式创新，利用式创新负向影响企业绩效。所以，在社会资本到达拐点
后，社会资本正向影响企业绩效。第三，社会资本与探索式创新间呈倒 U 型关系，而探
索式创新正向影响企业绩效。当社会资本从零增加到拐点时，社会资本正向影响探索式创
新，探索式创新正向影响企业绩效。所以，在社会资本从零增加到拐点的过程中，社会资
本正向影响企业绩效。但是当社会资本到达拐点后，社会资本负向影响探索式创新，探索
式创新正向影响企业绩效。所以，在社会资本到达拐点后，社会资本负向影响企业绩效。
本研究揭示了二元创新是社会资本提高企业绩效的重要环节，丰富了社会资本与企
业绩效间的中介研究，厘清了利用式创新、探索式创新在两者间的不同中介作用。实证结
果提示：第一，在开始建立并发展社会资本的过程中，企业应将社会资本用于研发新产品，
拓宽业务范围，实现绩效提升。第二，在社会资本累积到一定程度后，企业应将社会资本
用于提升现有产品性能，稳定现有客户源，实现绩效稳定发展。本研究为企业利用社会资
本如何实现卓越绩效提供理论指导及实践参考。
关键词：社会资本；利用式创新；探索式创新；组织惯性；企业绩效
本研究得到国家自然科学基金（编号：72002162）资助。
Abstract
As a key way for firms to improve performance, social capital helps to expand the
cooperation channels of firms, quickly identify and obtain effective information, meet the
differentiated needs of customers, and create new growth points for performance. In the existing
research, the conclusion of the relationship between social capital and firm performance is
controversial. Scholars have paid attention to the intermediary factors between the two, and
pointed out that innovation is an important way for social capital to improve firm performance.
The development of social capital by firms can improve resource utilization, expand access to
innovative resources, help firms innovate existing technologies, develop new businesses, and
implement ambidextrous innovation, thereby achieving performance improvement. However,
there are few studies on the mediating mechanism of ambidextrous innovation between social
capital and firm performance. In addition, the resources created by social capital are the basis for
firms to implement ambidextrous innovation, but excessive accumulation of resources will lead
to organizational inertia, which is not conducive to ambidextrous innovation. Therefore, this
study proposes that how social capital ultimately affects firm performance through the inverted
U-shaped relationship with ambidextrous innovation is an important research question.
In this regard, based on social capital theory and organizational inertia theory, this study
establishes a relationship model of “social capital-ambidextrous innovation-firm performance”,
and then propose five research hypotheses. This study explores how the inverted U-shaped
relationship between social capital and exploitative innovation or exploratory innovation
ultimately affects the development of firm performance, in order to further analyze the different
mediating roles of exploitative innovation and exploratory innovation between the two. The
samples are from 441 public firms on the Shanghai and Shenzhen Stock Exchanges, the
hypothesis is verified by multiple regression analysis and mediation test. The data analysis results
show that: First, ambidextrous innovation differently mediate the relationship between social
capital and firm performance. Second, there is an inverted U-shaped relationship between social
capital and exploitative innovation, and exploitative innovation negatively affects firm
performance. When social capital increases from zero to an inflection point, social capital
positively affects exploitative innovation, and exploitative innovation negatively affects firm
performance. Therefore, in the process of social capital increasing from zero to the inflection
point, social capital negatively affects firm performance. But when social capital reaches the
inflection point, social capital negatively affects exploitative innovation, and exploitative
innovation negatively affects firm performance. Therefore, when social capital reaches an
inflection point, social capital positively affects firm performance. Third, there is an inverted U-