Purpose This study investigates how the structural, relational, and cognitive dimensions of TMT social capital influence exploratory innovation. Drawing on the dynamic managerial capabilities perspective, it examines TMT reflexivity as a cognitive mechanism linking social capital to innovation outcomes and explores the moderating role of paradoxical cognition in shaping this relationship. By integrating social capital and managerial cognition, the study provides a deeper understanding of how TMTs convert internal social resources into exploratory innovation. Design/methodology/approach This study draws on survey data from 221 senior executives in Chinese firms. A multi-informant design was adopted to reduce potential common method bias, with different executives completing separate sections of the questionnaire based on their functional roles. Hierarchical regression analysis was conducted to test the proposed hypotheses, and mediation effects were assessed using bias-corrected bootstrapping. Findings The relational and cognitive dimensions of TMT social capital are positively associated with exploratory innovation, whereas structural social capital exhibits a negative effect. TMT reflexivity mediates the relationship between social capital and exploratory innovation. Furthermore, paradoxical cognition strengthens the positive effect of TMT reflexivity on exploratory innovation. Practical implications Managers can enhance exploratory innovation by fostering psychologically safe and cognitively aligned environments within TMTs. Structured trust-building practices, cross-functional dialogue, and collective reflection can strengthen knowledge exchange and integrative decision-making. Developing reflexivity and metacognitive awareness through leadership training enables TMTs to reassess assumptions and adapt to changing conditions. Embedding paradoxical thinking into strategic processes helps reconcile competing demands, such as exploration and exploitation. Managers should also maintain an appropriate balance between network cohesion and cognitive diversity within TMTs to avoid groupthink and enhance strategic adaptability. Social implications This study highlights the broader societal relevance of how TMT social capital and cognitive capabilities support exploratory innovation. By showing that trust and shared cognition enhance reflexivity, and that paradoxical cognition enables TMTs to integrate competing demands, the study underscores the importance of collective learning and balanced thinking. Strengthening these mechanisms can help organizations improve adaptability and innovation capacity, thereby contributing to broader societal resilience and sustainable development. Originality/value This study advances research on TMT social capital by unpacking the differentiated effects of its structural, relational and cognitive dimensions on exploratory innovation. It extends the dynamic managerial capabilities perspective by identifying TMT reflexivity as a cognitive mechanism that translates social capital into innovation outcomes. By introducing paradoxical cognition as a boundary condition, the study offers a more integrated explanation of how TMT social capital and managerial cognition jointly shape exploratory innovation.
Wang et al. (Thu,) studied this question.