Abstract
This paper considers trust and trusting behavior towards financial institutions in South Korea. The survey data shows that people on average have higher trust towards financial institutions than towards other individual counterparties, although trust towards financial institutions in South Korea can still be improved further. My results imply that financial institutions should put more efforts in earning trust especially from those at the low end of wealth spectrum and those in young age, so that they can fully benefit from institutional services and be protected from potential frauds more likely to happen outside of regulatory boundary. This paper addresses a relative notion of trust and trusting behavior, i.e. trusting financial institutions relative to trusting other individual counterparties.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
