Asia Pacific Journal of Management

, Volume 22, Issue 4, pp 445–463

Does a Micro-Macro Link Exist Between Managerial Value of Reciprocity, Social Capital and Firm Performance? The Case of SMEs in China


DOI: 10.1007/s10490-005-4119-7

Cite this article as:
Wu, W. & Leung, A. Asia Pacific J Manage (2005) 22: 445. doi:10.1007/s10490-005-4119-7


With the deepening of China's economic reform, SMEs are starting to gain tremendous economic momentum and play an increasingly irreplaceable role in China's century-long bid for economic resurgence. Using a micro-macro link approach, this study investigates the effects of managerial value of reciprocity on both social capital and firm performance in China's rural SMEs. A structural equation modelling method was used to test hypotheses. Data from 177 SMEs in China provide supporting evidence that there exists a micro-macro link from managerial value of reciprocity, to social capital (trust) and to firm performance (both overall performance and competitiveness improvement).


managerial value of reciprocitysocial capitaltransaction cost economicsperformancerural SMEsChina

Copyright information

© Springer Science + Business Media, Inc. 2005

Authors and Affiliations

  1. 1.Department of Marketing and International BusinessLingnan UniversityHong Kong
  2. 2.Department of ManagementHong Kong Baptist UniversityHong Kong