This study examines how social networking facilitated by coworking spaces help entrepreneurs. Drawing on previous research in the different social science disciplines, a conceptual model is proposed that links coworking space interventions to social capital, and performance benefits. The model distinguishes three coworking interventions, i.e. design of the physical space, facilitative tools, and community management. Furthermore, the model differentiates bridging and bonding social capital. Nineteen interviews were conducted with entrepreneurs who work in three coworking spaces. The findings confirm the relationship between coworking space interventions, bridging and bonding social capital, and performance benefits. Theoretically, this study contributes in developing further knowledge about the increasing social value of coworking spaces. Managerially, this study highlights how the curation of collaborative workspaces can help promoting social capital as well as better conditions for individuals who seek to work in social environments.
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We analyze how ‘original’ residents in different gentrifying working class areas in Amsterdam North experience and evaluate the changes in their neighborhood in terms of social cohesion – in other words, whether they feel at home in their changing neighborhood and whether they feel connected to other residents. Policy interventions often focus on establishing connections between residents with different socioeconomic or cultural backgrounds, in order to stimulate mutual understanding. An underlying policy aim is to uplift vulnerable original residents through contact with higher income groups. Based on our empirical data, we critically assess the concept of ‘bridging capital’ (Putnam, 2000) that underpins several of the social activities that are organized in areas such as the ones in our study. Subsequently, we discuss the importance of ‘bonding capital’ or the sense of interconnectedness and strong ties amongst original residents. Our empirical data – based on both interviews and participatory observation – suggest that activities within the ‘own’ community contribute importantly to feelings of belonging in the neighborhood. In the final section of the article, we discuss how different types of local meeting places offer opportunities for ‘lighter’ forms of interactions without aiming directly at strong connections between differently positioned neighborhood residents.
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This research investigates the factors influencing the capital structure of 271 non-financial firms listed on the Korean Stock Exchange (KSE) over a broad period from 1995 to 2021, encompassing both stable and crisis conditions. Employing a dynamic panel data model and the generalized method of moments (GMM) estimation, we address the endogeneity issue introduced by the inclusion of lagged dependent variables. Our research integrates firm-specific internal factors with macroeconomic external variables to provide a comprehensive understanding of the influence of varying economic environments on capital structure. Our study suggests that in times of economic stability, the capital structure decisions of a firm are more influenced by internal factors such as profitability. However, in periods of economic downturns, it is the external macroeconomic market conditions that tend to have a greater impact on these decisions. It is also noteworthy that both book leverage (BL) and market leverage (ML) exhibit quicker adjustments during stable periods as opposed to periods of crisis. This indicates a higher agility of firms in adapting their capital structures in stable, normal conditions. Our findings contribute to the existing literature by offering a holistic view of capital structure determinants in Korean firms. They underscore the necessity of adaptable financial strategies that account for both internal dynamics and external economic conditions. This study fills a gap in current research, presenting new insights into the dynamics of capital structure in Korean firms and suggesting a multifaceted approach to understanding capital structure in diverse economic contexts.
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