本文提出了從個體社會資本演進生成集體社會資本的兩種研究假說:特殊主義的關系運作邏輯假說和社會聲望的資格承認邏輯假說,并在企業融資結網形成融資信任網絡的具體情景中加以驗證。本文發現,親緣、地緣和業緣等關系情景較為強烈時,特殊主義的關系運作邏輯將會得到強化,企業更傾向于將信任范圍鎖定于熟悉的特定群體之內,構建小宗派型融資派系。而"門當戶對"的類別情景較為強烈時,社會聲望的資格承認邏輯將會得到強化,企業更愿意對非特定對象持有較高的社會信任,轉而融入更為開放的大規模融資信任網絡。在社會關系、社會聲望對融資信任網絡結構的影響過程中,企業信任半徑起到了重要的中介作用,左右著集體社會資本的構建。

This paper proposes two theoretical hypotheses on how collective social capital is constructed based on the operation of individual social capital,i.e.,the logics of particularistic guanxi operation and social prestige recognition.The paper tests the two hypotheses in the context of inter-firm networking for financial support.The former logic is strengthened in the context of strong characteristics of kinship,geography and karma.It causes the firms to form sectarian small-group trust networks.The latter logic is strengthened in context of strong characteristics of categorical homogeneity.It causes the firms to form large-scale open trust networks.Trust mediates the influence of individual social capital and collective structure of inter-firm financing network.