Adapting Human and Social Capital to Impact Performance: Some Empirical Findings from the U.S. Personal Banking Sector

摘要

Building on a dynamic resource-based perspective, this article explores how firms alter their human and social capital in a changing environment. Using a business-level of analysis, a sample of 135 personal banking units is examined to assess the impact of these changes (or lack thereof) on the units' performance. Our results indicate that changing only human or social capital while ignoring the other yields mixed performance results. However, simultaneously improving both human and social (internal and external dimensions) has a synergistic effect on performance. Based on our findings, we propose that the interdependencies between human capital and social capital be further explored in social capital research.