Social Capital Facing Economic Competition: The Case of Antakya Long Bazaar*

Abstract

Social capital (SC), emerging as a new type of capital with 1980s, is defined as resources such as knowledge, opportunities, power, goodwill, and cooperation, achieved by means of interpersonal relationships. Businesses in possession of these resources will clearly gain an economic competitive advantage. This study was designed to determine how SC affects survival skills of businesses in economic competition. In this study, where qualitative research methods were used, data were obtained through semi-structured interviews with 40 micro- and small business owners, most of whom are second and third generations, operating in Antakya Long Bazaar, and three managers in charge of the management of Long Bazaar. Interviews were recorded with a voice recorder and note-taking technique. After transcription of voice recordings, the researchers coded and categorized the raw data and obtained themes and subthemes. Obtained data were analyzed with MAXQDA 20 software. In line with the performed qualitative analysis, responses of owner-managers were categorized in trust, trust promoting mechanisms (establishments, norms, and sanctions), network participation, collective action and cooperation, and learning aspects of SC. Questions on identification of variables and structural characteristics, which are prominent in determination of SC, were addressed to managers in charge of the management of Long Bazaar, thereby revealing the situation pertaining to the general structure. © 2021 Emerald Publishing Limited.