本研究藉由「社會資本」的研究架構來探討虛擬社群中的互動以及價值創造。社會資本指的是經由人際網絡的關係中，所產生的實際或是潛在資源。本研究以「批踢踢股票板」當做研究對象社群，從文獻回顧中發展出的八個研究假設來探討「社會資本」理論架構中的不同構面,即結構資本構面、認知資本構面與關係資本構面的關係，此外也針對「社會身分認同」的差異對於知識分享以及參加群體行動所造成的干擾效果進行研究。本研究以便利抽樣的方式將網路問卷的連結放置在「批踢踢股票板」收集資料。研究顯示，在虛擬社群中，透過成員的互動，「結構資本」和「關係資本」產生正相關，「認知資本」有和「關係資本」產生正相關，此外「結構資本」與「認知資本」之間會產生正向影響，因此，假設H1 至假設H7 皆獲得資料的支持。此外在虛擬社群中，成員的「社會身分認同」會加強成員參與群體活動的意願；但對於成員的知識分享的意願和態度則沒有影響，假設H8b並未獲得支持。探究原因，個人在板上分享投資訊息或知識等行為代表著將潛在利潤以及獲利機會分享給板上其他成員，和投資利益最大化的目標相違背。
本研究的貢獻除了在於以實證資料釐清「社會資本」理論中各構面間的關係之外，也將成員的個人動機因素納入研究架構中，本研究結果可以讓行銷人員了解到消費者是否選擇參與虛擬社群以及決定其參與程度的影響因素，作為經營一個成功的虛擬社群的準則依據。

This study investigates the interactions and value creation in virtual communities from the social capital perspective. Social capital means the actual and potential resources embedded within,available through, and derived from the network of relationships processed by an individual and
social unit.This study clarified the interrelationships among structural, cognitive and relational dimensions of social capital in virtual community. In addition, the moderating effect of individual’s motivation for social identity is examined as well. Based on literature review, eight hypotheses are developed to address the inter-relationships among dimensions of social capital.
An online questionnaire was designed to collect data. All hypotheses are tested with structure equation model. Generally, the results show that, in virtual communities, structural capital and cognitive capital both positively relate to relational capital. Besides, structural capital positively relates to cognitive capital and cognitive capital also positively relates to structural capital. H1, H2, H3, H4, H5, H6 and H7 are supported. This study further investigates the influence of actual investment experience. The results show that investment experience influenced the path from tie strength to trust due to perceived risk, which negatively relates to trust. In addition, the moderating effect of social identity on the path from trust to collective action is significant, but there is no difference on the path from trust to knowledge sharing. H8 is partially supported. This research contributes to the social capital field by providing an empirically research
explores the inter-relationships of social capital dimensions in virtual communities. Furthermore,this study tests the role of social identity in virtual communities. In summary, the results serve as a guide for marketers to understand factors that will influence individuals to participate in a virtual community from the social capital perspective.

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