The Comparative Value of Network Capital in Academic Careers

Abstract

Relationships are a striking issue in determining success within competitive contexts. Through relationships formal and informal norms, ruling behaviors and opportunities, are established and updated. People continuously invest in personal and professional relationships accumulating a new form of capital: the Social Capital. Investments in social capital and relational portfolio management may be determinant for success. While sociology, organizational studies, and management started to study individual social capital some decade ago, yet economists have given little attention to studying the issues in individual social capital. Through the analysis of social capital in academic career, I attempt to comprehensively examine impacts of personal characteristics and career choices on individual social capital and human capital. I analyze social capital and human capital complementarities and their impact on career success. I show that social capital is a form of capital itself, it matters for career success, and it can be highly diversified in its composition and use.