社会资本与租赁

IF 5.5 2区经济学 Q1 BUSINESS, FINANCE

Global Finance Journal Pub Date : 2025-09-01 DOI:10.1016/j.gfj.2025.101173

Joshua Zhang , Hasibul Chowdhury , Jacquelyn E. Humphrey , Mostafa Monzur Hasan

{"title":"社会资本与租赁","authors":"Joshua Zhang , Hasibul Chowdhury , Jacquelyn E. Humphrey , Mostafa Monzur Hasan","doi":"10.1016/j.gfj.2025.101173","DOIUrl":null,"url":null,"abstract":"<div><div>We examine the relationship between social capital and corporate leasing intensity. Using a large sample of publicly traded US firms, we find that firms headquartered in areas with high social capital lease less. The negative association is driven by both the social norms and social network components of social capital. Our channel analysis reveals that social capital has both a direct and an indirect effect on leasing, with the direct effect being significantly stronger. The indirect effect is due to social capital reducing financing constraints.</div></div>","PeriodicalId":46907,"journal":{"name":"Global Finance Journal","volume":"67 ","pages":"Article 101173"},"PeriodicalIF":5.5000,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Social capital and leasing\",\"authors\":\"Joshua Zhang , Hasibul Chowdhury , Jacquelyn E. Humphrey , Mostafa Monzur Hasan\",\"doi\":\"10.1016/j.gfj.2025.101173\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>We examine the relationship between social capital and corporate leasing intensity. Using a large sample of publicly traded US firms, we find that firms headquartered in areas with high social capital lease less. The negative association is driven by both the social norms and social network components of social capital. Our channel analysis reveals that social capital has both a direct and an indirect effect on leasing, with the direct effect being significantly stronger. The indirect effect is due to social capital reducing financing constraints.</div></div>\",\"PeriodicalId\":46907,\"journal\":{\"name\":\"Global Finance Journal\",\"volume\":\"67 \",\"pages\":\"Article 101173\"},\"PeriodicalIF\":5.5000,\"publicationDate\":\"2025-09-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Global Finance Journal\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1044028325001000\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Finance Journal","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1044028325001000","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 0

摘要

研究了社会资本与企业租赁强度之间的关系。通过对美国上市公司的大量样本分析，我们发现总部位于社会资本高的地区的公司租赁较少。社会规范和社会资本的社会网络成分共同驱动了这种负相关。我们的渠道分析表明，社会资本对租赁既有直接影响，也有间接影响，其中直接影响明显更强。间接效应是由于社会资本减少了融资约束。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Social capital and leasing

We examine the relationship between social capital and corporate leasing intensity. Using a large sample of publicly traded US firms, we find that firms headquartered in areas with high social capital lease less. The negative association is driven by both the social norms and social network components of social capital. Our channel analysis reveals that social capital has both a direct and an indirect effect on leasing, with the direct effect being significantly stronger. The indirect effect is due to social capital reducing financing constraints.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Global Finance Journal BUSINESS, FINANCE-

CiteScore

7.30

自引率

13.50%

发文量

106

审稿时长

53 days

期刊介绍： Global Finance Journal provides a forum for the exchange of ideas and techniques among academicians and practitioners and, thereby, advances applied research in global financial management. Global Finance Journal publishes original, creative, scholarly research that integrates theory and practice and addresses a readership in both business and academia. Articles reflecting pragmatic research are sought in areas such as financial management, investment, banking and financial services, accounting, and taxation. Global Finance Journal welcomes contributions from scholars in both the business and academic community and encourages collaborative research from this broad base worldwide.