Abstract:  Chamber of commerce is an important platform for enterprises to accumulate social capital, aiming to promote resource sharing and risk sharing among enterprises. This paper takes Ashare listed companies as the research sample, and empirically analyzes the impact of companies participating in homeland chamber of commerce on corporate risktaking. The results show that participating in homeland chamber can improve corporate risktaking. This conclusion is still valid after a series of robustness tests. From the perspective of the mechanism, participating in homeland chamber is not only conducive to reducing corporate financing constraints, but also conductive to promoting firms M&A activities. Further research finds that the chamber of commerce has substitution effects on regional social trust, and the impact on corporate risktaking is more pronounced in the areas with strong traditional culture and greater marketization degree. Besides, participating in homeland chamber can help enterprises reduce the risk of supply chain. This paper provides an empirical basis for verifying the risksharing characteristics of the chamber of commerce, and provides references for understanding the social function of the chamber of commerce.

Key words: homeland chamber of commerce, corporate risktaking, social capital, merchant guild culture, social networks

摘要： 商会组织是企业拓展社会网络和积累社会资本的重要平台，旨在推动企业之间实现资源共享和风险共担。本文以我国A股上市公司作为研究样本，实证分析企业参与异地商会对企业风险承担水平的影响。本文研究结果表明，参与异地商会有助于提高企业风险承担水平，该结论在经过一系列稳健性检验后依然成立。从作用机制上看，参与异地商会不仅有利于降低企业融资约束，同时助推了企业并购活动。进一步研究发现，异地商会对地区间社会信任具有替代效应，并且提升风险承担的作用，在传统商帮文化浓厚的地区和市场化程度较高的地区更为明显。参与异地商会有助于企业减轻供应链环节的风险。本文为验证商会的风险共担特征提供了实证依据，为理解商会组织的社会功能提供了参考。

关键词: 异地商会, 风险承担, 社会资本, 商帮文化, 社会网络