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Social Capital Theory

van Bakel, M. & Horak, S. (2024). Social Capital Theory (pp. 261-267). In Hutchings, K., Michailova, S., & Wilkinson, A. A Guide to Key Theories for Human Resource Management Research, Cheltenham: Edward Elgar.
Link: https://doi.org/10.4337/9781035308767.ch33

Abstract
Social capital can be defined as the sum of resources embedded within, available through, and derived from the network of relationships possessed by an individual. We distinguish three schools of thought on social capital: the first views it alongside other forms of capital - economic, cultural, symbolic - to explain social stratification, highlighting the benefits of network membership; the second merges sociological and economic perspectives, emphasizing the functions and outcomes of social capital for individuals, groups, organizations, and institutions;
the third focuses on societal features such as trust, norms, and networks that enhance societal efficiency. Further, this paper explores developments in social capital theory, demonstrates specific applications, and suggests areas for future research.

Keywords
Social Capital Theory, Human Resource Management (HRM), Sustainable HRM, Talent Management, Diversity and Inclusion.


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