This study theoretically examines the process of converting social capital, or "density of trust," held by regional enterprises into economic value. Based on institutional theory, this paper presents a four-stage model of trust capitalization: (1) formalization, (2) codification, (3) legitimization, and (4) institutionalization, and organizes its correspondence with E-E-A-T. Furthermore, it discusses how public relations promotes this process as a mediating function, leading to sustainable competitive advantage for regional enterprise networks through transaction cost reduction, price premium acquisition, and sales channel expansion.
View full abstract