Social Capital, Formal Institution And Listed Private Enterprises Performance Of Enterprise

China is in a special period of economic transition, with the advancement of marketization.Our country’s economy has developed rapidly, but the rapid economic development of the building did not keep up with the pace of formal system. There are many drawbacks, so the listed private enterprises should be influenced firstly. Under the influence of environment, the listed private enterprises in order to make their capital protected, they must find some other way. Some scholars of the study found that the top managers of enterprise social capital can be used as alternative factors to protect investors’ capital. For example, if the managers of enterprises and government departments have good relations, they may get more opportunities, more convenient for business development of the resources needed, etc.. This also means that the enterprise social capital may help the development of the enterprise, this article is based on the purpose of study.This paper firstly describes the institutional environment of Chinese private enterprises now, as well as the important role of it. Secondly, this paper reviewed and summarized the related theory, including institutional environment related theory, social capital theory, the formal institution theory and the theory of private enterprise management related historical research. Finally, this paper discusses the institutional environment, social capital on the impact of private enterprise development and the process from an empirical point of view.The main content of this paper includes six chapters, the main contents of each chapter are as follows:The first chapter is introduction. This chapter explains the research background, research contents and significance, research methods and the framework and the innovation and deficiency.The second chapter is literature review. This chapter will define the system arrangement, social capital and a detailed analysis of the research status of the relationship between formal institution, social capital and performance of enterprise.The third chapter is the theoretical analysis and the research hypothesis. This part includes the relationship between the political relations,financial relations,the association for relations of enterprise management at the present stage and the formal system to performance of enterprise.The fourth chapter is the research design. This part includes sample selection, variable selection, variable definitions and variable selection reason.We try to determine the model by the variables which can affect the listed private enterprises operating performancel. From two aspects of social capital and the formal institutional to study whether it has the correlation.The fifth chapter is the empirical results and analysis. This chapter mainly through descriptive analysis, to study the social capital, political relations, financial relations, the association for relations, formal institution analysis regression for performance of enterprise. At the same time, this chapter also discusses whether there is relationship between social capital and formal institution.The sixth chapter is the conclusion and suggestions. This chapter focuses on the summary and guidance for the listed private enterprises...