中文摘要：

本文选取2009～2012年在深圳创业板上市公司的经验数据为样本，运用动态面板广义矩法（GMM）考察了不同制度环境下的企业综合社会资本对融资约束的影响。研究结果表明：我国高新技术企业融资约束问题普遍存在，企业社会资本有助于缓解企业所受的融资约束程度，并且制度越不完善的地区，企业社会资本对融资约束的缓解作用更大。因此高新技术企业应该积极拓展自身社会资本，充分发挥社会资本在缓解企业融资约束的积极作用。

英文摘要：

Taking listed companies on the Shenzhen ChiNext from 2009-2012 as a sample, this paper examines the effects of social capital on financing constraints in high-tech enterprises under different levels of system with GMM estimation. Our findings indicate that, high-tech enterprises generally suffer from financing constraints. Social capital helps to ease the financing constraints degree of enterprises. The more imperfect the system, the stronger the effect. Thus, high-tech corporates should actively expand their social capital to ease financing constraints.