Social Capital and Financial Resilience
Chapter from the book:
Kırcı Altınkeski,
B.
&
Buğan,
M.
F.
(eds.)
2023.
Evolution of Financial Markets: Banking, Risk Management, Markets and Institutions.
Synopsis
Social capital refers to norms and various networks that enable cooperation. Socially responsible activities within the framework of the trust and mutual relationship firms establish with their stakeholders provide strategic benefits to the business, environment, and society. Among these, it is theoretically and empirically demonstrated that social capital could contribute to the financial resilience of companies in turmoil periods. Accordingly, social capital can contribute to financial resilience by acting as a protective shield for companies in times of crisis and uncertainty. This study examines this relationship by focusing on existing social capital and financial resilience research in the literature and reveals the role of the concept of social responsibility in financial sustainability. Although some studies suggest no relationship between the two concepts, most of the studies document the effects of social capital on financial resilience in certain conditions. This study also provides the conflicting results in the literature, discusses possible reasons, and presents an overall view and suggestions for future studies to reach a consensus.
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Copyright (c) 2023 Emine Beyza Satoğlu- Batuhan Medetoğlu- Selahattin Bektaş- Meltem Keskin- Fikri Kaplan- Akile Demirsıkan- Yavuz Demirdöğen- Remzi Gök- İsmail Tuna- Mevlüt Camgöz- Mehmet Göl- Mehmet Bükey- Emrah Keleş- Gizem Vergili- Hasan Alpago- Adem Ruhan Sönmez- Muhammed Emin Durmuş- Bilal Akkaynak; Buket Kırcı Altınkeski- Mehmet Fatih Buğan