We investigate whether the performance of zakat institutions is affected by the social capital of their CEO. Using data of 92 zakat institutions from 42 countries between 2016 and 2018, we empirically find a positive association between CEO’s social capital and institutions’ performance. However, we further find that the effect is reduced in the large zakat institutions, suggesting the importance of the CEO’s social capital for a small organization. The result of this paper advocates zakat institutions to hire a CEO with a high profile of social capital. Our result is robust across different proxies of social capital, the institution’s performance, and various battery of robustness.

我们调查了天课机构的绩效是否受到其 CEO 的社会资本的影响。使用 2016 年至 2018 年间来自 42 个国家的 92 家天课机构的数据，我们实证发现 CEO 的社会资本与机构绩效之间存在正相关关系。然而，我们进一步发现，在大型天课机构中，这种影响会减弱，这表明 CEO 的社会资本对于小型组织的重要性。这篇论文的结果主张天课机构聘请一位具有高知名度的社会资本的CEO。我们的结果在社会资本、机构绩效和各种稳健性的不同代理中都是稳健的。