The Effect Of Social Capital On The Disruptive Innovation Of Business Model For Latecomer Firms

With the rapid development of economic globalization,China's latecomer firms are struggling in the turbulent business environment.Thus,how to break through and overtake those leading enterprises with a large market shares and lead-edge technologies would definitely be a practical issue for all of latecomer firms.Accordingly,it will also be an important content of achieving independent innovation and economic transition for Chinese enterprises afterwards.According to research,it points out that under the constraints of short of funds,complex environment,and limited technical level,as an emerging strategic competition theory and growth mechanism,disruptive innovation with non-continuity feature could utilize the innovation of business model to coach latecomer firms in impacting original value network,improving its competition ability as well as catching-up with those existing enterprises.Nevertheless,the business model of disruptive innovation cannot happen overnight.It has to rely on a lot of resources.Due to lack of essential resources,developing and utilizing social capital has become a vital channel of seeking heterogeneous resources for the latecomer firms.However,current literature are mostly focusing on figuring out the positive effects of social capital or innovation of business model on advantage power of enterprises building.Not many literature are using social capital as previously driving variables of business model of disruptive innovation to explore the matching relationship between those two parties.It is rarer to find out the study of the how does the business model of disruptive innovation influence the social capital under different dynamic environment.Therefore,based on the practical problems mentioned above,this paper takes the latecomer firms in China as the research object from the angle of the disruptive innovation theory.According to the literature review at home and abroad,this paper combs the connotation,dimension and interrelation of later firms,social capital,business model innovation as well as environment dynamism.And through probing into how social capital drives the disruptive innovation of business model and the mediation of environmental dynamism,a theoretical hypothetical model of "social capital-disruptive innovation of business model" under the moderating role of environmental dynamism is constructed.On the basis of the questionnaire design and sample data collection,the hypothesis model is empirically studied by using SPSS21.0 and AMOS21.0 statistical analysis software,including descriptive statistical analysis,reliability and validity analysis,correlation analysis and regression analysis.Finally,this paper discusses the analysis results and puts forward the corresponding suggestions and future research directions.The research results show that: Structure-oriented social capital(relational quantity and relational density),relationship-oriented social capital(trust and norms)and capital-oriented social cognition(common language and shared vision)have significantly positive driving effect on disruptive innovation of business model for latecomer firms,and the positive driving effect of cognitive-oriented social capital is the strongest;Environmental dynamism plays a partial moderating role in "social capital-disruptive innovation of business model",it has significantly positive moderating role on the relationship between relational quantity,trust,norms,shared vision and disruptive innovation of business model,but it has no significant moderated effect on the relationship between relational density,common language and disruptive innovation of business model.This study provides methodological guidance and decision-making basis for Chinese latecomer firms to capture market opportunities,build competitive advantages as well as open value jump growth model.