Microfoundations of collaborative networks: The impact of social capital formation and learning on investment risk assessment
Microfoundations of collaborative networks: The impact of social capital formation and learning on investment risk assessment
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DOI：
10.1016/j.techfore.2020.120295
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发表时间：
2020-12-01
影响因子：
12
通讯作者：
Arslan, Ahmad
中科院分区：
文献类型：
--
作者：
Rodgers, Waymond;Degbey, William Y.;Arslan, Ahmad
传统的财务和无形资产（IA）的绩效指标有助于微观管理组织系统的设计。我们揭示了合作网络的微观基础过程及其对投资风险评估的影响，通过探索IA绩效指标来分解宏观层面的结构。IA措施侧重于探索个人人力资本及其影响投资风险评估的行动和互动，这对长期繁荣至关重要。此外，这里的人力资本包括社会资本等社会因素，研究表明，社会资本可以从智力资本中发展出来，反之亦然。40名专业投资者（导致160个独立的观察）的实验结果表明，属于一家公司的合作网络，在那里他们将获得IA性能信息，导致他们调整他们的投资风险评估向下或向上响应重大弱点或实力披露有关IA性能。此外，实验室实验表明，121新手投资者谁学会了如何解释和使用他们的社交网络，以获得IA性能信息也导致他们调整他们的投资风险评估，以应对材料IA信息缺陷的目标公司。研究结果表明，IA知识可以学习和转移，以影响社会变革。
Both traditional financial and intangible asset (IA) performance measures aid in the design of micromanagement organizational systems. We shed light on the microfoundational processes of collaborative networks and their impact on investment risk assessment by exploring IA performance measures in response to decomposing macro level constructs. The IA measures focus on the exploration of individual human capital and their actions and interactions that influence investment risk assessments, which is critical for long-term prosperity. Additionally, human capital herein includes social factors such as social capital, which research has demonstrated can be developed from intellectual capital, and vice versa. Findings from an experiment with 40 professional investors (resulting in 160 independent observations) suggested that belonging to a company's collaborative networks-where they would gain access to IA performance information-led them to adjust their investment risk assessments downward or upward in response to material weakness or strength disclosures pertaining to IA performance. Additionally, a laboratory experiment revealed that 121 novice investors who learned how to interpret and use their social networks to gain access to IA performance information also led them to adjust their investment risk assessments in response to material IA information deficiencies in target companies. The results showed IA knowledge can be learned and transferred to impact social change.