Uncovering external factors that influence the acquisition of knowledge for innovative purposes

This paper aims to evaluate through an empirical analysis the impact of social capital on the innovative performance of companies of the energy sector in Spain, as well as the role of firms’ absorptive capacity and membership to a business association as mediating variables in this relationship. The energy supply sector in Spain is analyzed through a sample of 197 companies, using PLS-SEM technique. This study provides empirical evidence on the positive and significant effect of firms’ social capital on their innovative performance, and the mediating effect of firms’ absorptive capacity and membership in a business association. It is concluded that politicians and managers should be aware about the importance of firms’ connectivity in the current digital society. But interaction and knowledge diffusion are of little use if companies do not develop their knowledge absorptive capacity, to effectively exploit external knowledge. Finally, the role of business associations as platforms for the dissemination and absorption of knowledge, as well as business innovation, is highlighted.