This study uses an unbalanced panel data analysis to examine the effects of social capital,top executive attributes and R＆D on firm value in Chinese small and medium-sized enterprises（SMEs）listed on the Shenzhen Stock Exchange Small and Medium-sized Enterprises Board from 2007 to 2011.There are several interesting findings.First,the gender（male）and academic degree of the chairperson in the SMEs have a positive and significant effect on firm value.Second,social capital（measured by political connections,managerial business association networks and technology association networks）and R＆D have a positive effect on SMEfirm value.Third,the effect of political connections on firm value for state-owned enterprises（SOEs）is stronger than for non-SOEs,while the effect of business and technology networks on firm value for non-SOEs is stronger than for SOEs.Our study has important policy implications for SMEs that want to compete successfully in China.
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