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.