The role of social capital in the adaptability of the Fashion Triangle of Madrid to the impact of the COVID-19 pandemic
DOI:
https://doi.org/10.37230/CyTET.2024.222.7Keywords:
Wholesaling trade, Business association, Cluster network, Social innovationAbstract
The article analyzes the role of social capital in response to COVID-19, focusing on the Fashion Triangle of Madrid, an urban area characterized by the concentration of wholesale fashion trade. Through documentary research and in-depth interviews, a multidimensional social capital rooted in the area is revealed, highlighting the association as a key agent in its development. Additionally, the cognitive dimension is shown to condition the relational and structural dimensions, playing a crucial role in driving joint action among firms. However, the weakness of the structural social capital hinders its optimal adaptability. This study contributes to the literature by examining the conditioning factors of social capital in highly competitive mature service sectors located in intra-urban spaces in the face of external shocks.
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