Corporate Social Capital and Public Relations : Capital Accumulation by Social Relationship and Rethinking the Definition of Public Relations
- Publisher: 北海道大学大学院メディア・コミュニケーション研究院 = Research Faculty of Media and Communication, Hokkaido University
This paper discusses Corporate Social Capital and Public Relations. This paper overviewed the Social Capital studies, especially early studies in sociology field, proposed the framework to evaluate Social Capital in a capital. Social Capital has the merit to reduce transaction costs, and should be clearly positioned as a component of capital of corporation. Using the concept of the Corporate Social Capital, to rethink the definition of Public Relations, this paper proposed the following definition of Public Relations: Public Relations are the effective action to create the foundation for effective management by gaining the trust to build up the relationship between the organization and its stakeholders, accumulating the Corporate Social Capital, and reducing transaction costs in society.