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• Ghoshal, Uzzi,
• Barney, Kogut

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• Burt, Granovetter

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13
Two Kinds of Social Capital
1. Bridging (Structural Holes)
Fragmented network with structural holes

• Exploitative Rent
• Rent is a function of disconnection
• between alters
• Individual level only
• Value appropriation
• Asymmetric dependency
• Non-redundant information
• Non-redundant opportunities
• Less constraints
• Distrust
• Selective discrimination
• Theories
• Burts structural holes
• Granovetters Weak Ties

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Two Kinds of Social Capital
2. Binding Cohesive Network

• Composite Rent
• Individual and group levels
• Value creation
• Symbiotic inter-dependence
• Contextual and tacit knowledge
• Non-standard technological transfer
• Trust
• Reduction transaction cost
• Overcoming risk and uncertainty
• Rent is a function of connection
• and synergetic combination with alters
• Theories
• PS Putnams participatory network
• OTGhoshals corporate social capital
• SOC Wellmans network capital

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Structure - Conduct- Performance
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16
Producer

Resource Segments
Producer and differentiated resource environment
17
B
A
F
C
E
D
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Input-Output Data
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Producer i
Producer j

Resource Segments
Structural Equivalence
21
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3
7
8
4
2
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1
5
6
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24
Average Position of
Industrial Sectors
(Multiple Classification Analysis
25
A Causal Model for Industrial Profitability
26
OLS Estimates of Israeli Markets Profit Margin
In the Late 1970s Pooled Results
plt.05, plt.01, plt.001
27
3 Styles of Structural Embeddedness (Uzzi, 1997
2000)
Embedded Ties
Under-embeddedness Arms length ties
Over-embeddedness Dense Ties Transitive Relations
28
Social Capital and Survival
Bridging
Survival
Binding
Expected
Low
High
Density / Transitivity
29
A causal model for industrial instability
30
Four Models of OLS Estimates of Israeli
Instability 1976-1986 (Manufacturing Industries)
plt .10, plt.05, plt.01, plt.001
31
Imperfect Competition Paradigm Market
Imperfection Competition (free)
Market Share Connections
Price level
Elitist Theory
Political Hierarchy
Collective Bargaining (exclusive)
Political Access Resource Mobilization
Radical Political Economy Supervision
Technology Managerial Power
(rigid) Labor Dismissal
Slack Wage Level
Perspective
Relevant Structure
Driving Mechanism

Ability to influence Outcome is
modified by Outcome (Rent)
32
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Does Corporate Rent Trickle Down to Employees? A
Cross-Level Analysis of Industrial Embeddedness
Industry-level data Inter-Industrial
Relations Production attributes Political
Embeddedness Geographic Dispersion
OLS aggregate
HLM
(ln) Earning
Individual-level data labor attributes
(demographics human capital)
OLS individual
34
Results
N1 7,159 men N2 28 industries
35
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36
Postulates

• Social capital can be studied as a rent
  generator
• Social capital is a function of (1) the social
  structure of the competition, and (2) the
  political organization of the economy
• Rent is the reward on social capital

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Implications for Future Research

• Two contradictory types of social capital
  co-exist with two kinds of rent (couple
  supplier-customer)
• Future studies on co-production and allocation
  process
• Dynamic rent (changing social base)
• Narrative mechanisms of rent generation
• Collective goods and extended prisoners dilemmas
  in regards to two kinds of rents