Study On The Influence Of Social Capital Of Independent Directors Of Coal Enterprises On Diversification And Enterprise Performance

Coal industry is the pillar industry of national market economy and social development.How to improve the performance of enterprises has always been the main problem facing the coal industry.With the development of market economy system,it also brings related influence to coal industry.Coal enterprises begin to carry out diversified product management,expand industry types and increase the scope of operation of products.Therefore,diversifi cation is very common in coal industry.Because diversification itself is the risk of a certain operating risk enterprise management strategy.if the enterprise is not familiar with the business,it is likely to face uncertain risks.The existence of independent directors of a company can be screened from a large amount of information through the social capital formed by its own social relations network,obtain relevant in format ion conducive to the diversification of enterprises,and bring a large number of social resources to enterprises.Better promote the implementation of diversified business strategy,conducive to improve enterprise performance.Therefore,enterprises should pay attention to the influence of independent directors’ social capital on enterprise performance.Based on the four dimensions of the social capital of independent directors,this paper takes A coal enterprises from 2011 to 2018 as the research object,establishes the model through the analysis of theoretical basis,puts forward the relevant assumptions,and finally carries on the empirical analysis.It is found that:the horizontal relationship network and reputation of independent directors’ social capital have significant positive correlation with enterprise performance;the vertical relationship network,horizontal relationship network and reputation of independent directors have significant correlation with diversification;Diversification has a significant negative impact on enterprise performance.Finally,through analyzing the conclusion of empirical research,this paper puts forward some suggestions to improve the management strategy and enterprise performance of coal enterprises,and points out the shortcomings of the article and the prospect of future research.