A Study On The Influence Of Social Capital Of Listed Companies On Regional Innovation Ability

Regional Innovation issue has become a hot issue to be studied under the new norm. Since 2008, innovation has become China’s economic development process short board in urgent need of improvement. The formation of regional innovation systems need to integrate resources,many authors do the research of innovation in the perspective of physical capital and human capital under the traditional innovative theory, but from the perspective of social capital, literature analyzing regional innovation system currently is not much, especially in terms of the empirical literature. In addition, there is no uniform method to measure social capital, both subjective methods for basic information through questionnaires and objective analysis ways after obtaining existing data are available. This article will make the description of social capital status in the Yangtze River Delta area by the basic data of listed companies.In this paper, under the framework of Nahapiet, corporate social capital will be divided into three dimensions, including structural dimension, relational dimension and cognitive dimension. The paper will explain its industrial chain effect in presence, cooperation effects of promoting knowledge sharing, the effects of information flow and treatment which solving the problem of knowledge configuration, the effects of risk-sharing and reducing, the formal relationship with relevant intermediary organizations, informal relations effect which help dissemination of tacit knowledge.Based on the above theoretical mechanism, this paper will introduce five indicators to measure social capital, including the relationship between government and enterprises, the relationship between banks, industry relations, supplier relations, customer relations and employee relations, while adding foreign direct investment amount and local fiscal expenditure in R&D as the two control variables which have significant impacts on regional innovation. Space panel model will be introduced to analyze the spatial effects.We get the following four conclusions: firstly, both relationship with government and local fiscal expenditure in R&D can have a positive impact on the local area, while have a negative impact on the neighborhood; industrial relations have negative effect on the region and adjacent areas; whereas, both relationship with suppliers and employee relations have positive effect on the region and adjacent areas; at last, regional customer relations and foreign direct investment have negative impacts on the level of innovation in the region, while have positive to influence on the neighborhood.Finally, according to the results of the econometric model, we will put forward policy recommendations which aimed to improving the Soft Environment of Regional Innovation.