Social capital and social networks in the Malaysian corporate elite world: a conceptual framework

This article offers a conceptual understanding of the nature of social capital and social networks and their role in corporate elite organisation during capitalist big business growth in Malaysia, be it during or after the 1990s rapid growth. It appreciates both notions as closely intertwined and hence, act as conceptual and analytical tools for explaining and understanding, particularly the nature of business group organisation, in the 1990s or after. To date, although acknowledging the presence of networks, some analysts hardly focuses, conceptually and empirically, on corporate elite organisation based on social networks and social capital, particularly their structure and characteristics. Instead, they tend to explain and analyse effects of the networks and also view them in the form of interpersonal dyadic ties. This also implies that the nature of economic action, especially the organisation of business groups, appears to be carried out in a relatively atomised manner independent of social capital or social networks. Thus, the action is not fully understood. Based on some empirical findings mainly from a sociological study conducted by the author on interlocking directorships and social networks of some multi-ethnic Malaysian corporate elite members of the 1990s, a conceptual framework is developed. This article presents that framework which integrates the concept of social capital with the concepts of social networks, human capital and interlocking directorships to allow an alternative if not better understanding of corporate elite and business group organistion in Malaysia, during or after the 1990s