本研究嘗試建立一整合性分析模式，以台灣地區多國籍企業為對象，探討子公司所擁有的社會資本，對該公司與企業內部其他單位、外部相關機構之資源交換及結合的影響，及與創新成效的關係，期有利於多國籍企業子公司創新能力發展的整體性思維。由相關及SEM之路徑分析，驗證出子公司內部社會資本、外部社會資本、內部資源交換及結合、外部資源交換及結合均與組織創新成效呈顯著正相關，但內部社會資本與外部資源交換及結合、外部社會資本與內部資源交換及結合兩個關係均呈顯著負相關。研究結果證實多國籍企業子公司鑲嵌在兩個同時並存的內部及地主國外部網路體系中，子公司與兩個網路體系間的資源交換與結合，對子公司創新的成效有顯著的助益，內部、外部間的資源交換及結合，亦呈現互換的情形。

The purposes of this article is to develop a integrate model to analyze the effects of social capital on inside-and outside-resource exchange and combination, and on initiative performance, of MNE's subsidiaries. The results of simple correlation analysis and structural equation models (SEM) show that the relationship among intra-social capital, inter-social capital, inside resource exchange and combination, outside resource exchange and combination, and initiative performance, of MNE's subsidiaries, are all positive and significant. However, the relationship between intra-organizational social capital and outside resource exchange and combination, and between inter-organizational social capital and inside resource exchange and combination, are both negative and significant. The results suggest that MNE's subsidiaries are embeddedness in intra-and inter-organizational networks that are coexistent. Through exchanging with and combining the resources of inter-and inter-organizational networks, MNE's subsidiaries can increase their initiative performance significantly. However, there is a trade-off between intra-and inter-resource exchange and combination.