Corporate Social Capital and Firm Performance in the Global Information Technology Services Sector

Download or read book Corporate Social Capital and Firm Performance in the Global Information Technology Services Sector written by Laurence G. Lock Lee and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "The confluence of a number of marketplace phenomena has provided the impetus for the selection and conduct of this research. The first is the so called value relevance of intangibles in determining share market performance of publicly listed companies. The growing gap between market and book values has been proposed as an indication of the impact of intangibles on share price values. A second related phenomenon is the increasing reliance on share price appreciation as the principal means for shareholder return as opposed to returns through dividends. This suggests that share prices are becoming an even more critical firm performance measure than traditional accounting-based firm performance measures like return on investment (ROI). A third phenomenon is the rapid growth in marketplace alliances and joint ventures, the number of which has grown rapidly over the past 30 years. The explanation for these phenomena may lie in the concept of corporate social capital (CSC) which, as an intangible asset (IA), has been proposed in several normative studies. CSC has been defined as "the set of resources, tangible or virtual, that accrue to a corporate player through the playerʼs social relationships, facilitating the attainment of goals" (Leenders & Gabbay, 1999, p3)"--Abstract.