Trust in Market Relationships

Trust in Market Relationships

Sandro Castaldo

Trust in Market Relationships illustrates that the importance of trust in a commercial arena has intensified as markets have become more complex. As business relationships become ever critical for a firm’s economic results in highly competitive markets, and trust represents the basic platform for the development of successful long-term collaborations.

Chapter 7: A Trust Growth Model

Sandro Castaldo

Subjects: business and management, marketing, organisation studies


INTRODUCTION Once the complexity of trust concept has been investigated, it is useful to examine how trust relates to the other variables, within wider analytical frameworks. In fact, analysing the contributions which analysed this construct, there clearly emerge three main approach typologies: purely conceptual contributions; studies geared to defining the interpretative models; and empirical approaches. The first typology of contributions is mostly concerned with defining the construct’s conceptual contents, analytical dimensions and different types. Most of these works have already been presented in the previous chapters. The second group of contributions is aimed at defining theoretical models, linking trust – in its various dimensions and typologies – to other variables. These can be grouped in three main categories: antecedent, consequent and moderating variables. Essentially, the last of these variables have an attenuating or amplifying effect on the relationships that link antecedents or consequences to the trust construct, which generally plays the central role of ‘mediator’ (Baron and Kenny 1986). The main goal of these models is the identification of elements that can increase trust and its consequences, such as coordination level, relationship performance and trustor’s loyalty. These studies have a unique analytical value for management, allowing it both to identify trust’s main determinants – thus establishing the factors to be tweaked in order to implement trust development – and to appreciate the consequences and the advantages of trust for the whole socio-economic system, the single relational dyads and their actors. A wide array of contributions is included in...

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