Trust In Companies Research Articles

Geographies of trust: Socio-spatial variegations of trust in insurance

Trust is commonly understood as a mechanism that acts to improve transaction efficiency, or as a structural characteristic of organizations. It is a 'good' thing that can be built and harnessed for economic success. However, this type of conceptualisation maintains trust as a discrete and internally stable entity that is universally applied and cordoned off from socio-spatial complexities. In this paper, we present an empiric on trust in the insurance industry with an eye to reports on declining trust in banks, financial institutions and government. Analysing data from two Australian surveys, we map the social and political correlates of having house and contents insurance, consider how knowledge of insurance related issues and trust in insurance companies is associated with house and contents insurance, and measure how much trust Australians place in insurance companies relative to other public institutions. We use our findings as a spring broad for considering more spatialised understandings of trust and conclude by providing signposts for further geographical trust research - the first, qualitative investigations of the spaces and places of trust and its correlates, and the second, using geodemographics for mapping trust's socio-spatial variegations. In this we contribute to research into the socio-spatial variegations of financial processes and technologies, as well as contributing to work on institutional trust.

Privacy Governance for Institutional Trust

Currently, we frame individuals online as in a series of exchanges with specific firms, and privacy, accordingly, is governed to ensure trust within those relationships. However, the focus on the relationship between consumers and specific firms does not capture how the online environment behaves. The aggregation and secondary use of consumer data is performed by market actors behind the scenes without any relationship with consumers. Trusting a single firm is not enough; individuals must trust the online market in general. Such institutional trust has gone under-examined in regards to privacy online. Little has been done to measure how aggregating and using consumer data supports a larger online market and impacts institutional trust online. This paper explores how privacy governance should also be framed as protecting a larger market to ensure consumers trust being online. In a series of studies, I empirically examine (a) how typical secondary uses are judged along a generalized (for the good of the market) versus reciprocal (for the good of the consumer) exchange and impact institutional and consumer trust, and (b) whether governance mechanisms (limitations on the use of data such as adequate notice, auditing, non-identifiable information, limited storage, etc.) increase consumer trust in companies. I find: • Respondents find secondary uses of consumer data more appropriate if judged more within a generalized exchange (academic research) or within a reciprocal exchange (product search results) or both (credit security). However, most secondary uses of data are deemed privacy violations and decrease institutional trust online. • Using privacy notices is the least effective governance mechanism of those included here whereas being subject to an audit was as effective as using anonymized data in improving consumer trust. • Institutional trust online impacts a consumer’s willingness to engage with a specific online partner in a trust game experiment The findings have implications for public policy and practice. Secondary uses of information online need not only be justified in a simple quid-pro-quo exchange with the consumer but could also be justified as appropriate for the online context within a generalized exchange. However, the majority of secondary uses currently popular cannot be justified as within either a general exchange or a reciprocal exchange and are judged inappropriate, violations of privacy, and decrease both interpersonal and institutional trust. Second, if privacy violations hurt not only interpersonal consumer trust in a firm but also institutional trust online, then privacy would be governed similar to insider trading, fraud, or bribery — to protect the integrity of the market. Punishment for privacy violations would be set to ensure bad behavior is curtailed and institutional trust is maintained rather than to remediate a specific harm to an individual.

TRUST IS A LEADER'S MOST PRECIOUS CURRENCY

Leader to LeaderVolume 2019, Issue 94 p. 17-21 HESSELBEIN & COMPANY TRUST IS A LEADER'S MOST PRECIOUS CURRENCY Joel Peterson, Joel PetersonSearch for more papers by this author Joel Peterson, Joel PetersonSearch for more papers by this author First published: 06 June 2019 https://doi.org/10.1002/ltl.20457Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Volume2019, Issue94Fall 2019Pages 17-21 RelatedInformation

Social Capital, Trust, and Corporate Performance: How CSR Helped Companies During the Financial Crisis (and Why It Can Keep Helping Them)

The authors summarize the findings of their study, published recently in the Journal of Finance, that shows that CSR investments can help companies when they perhaps need it most—that is, during sharp downturns when overall trust in companies and markets declines.Companies with high‐CSR rankings experienced stock returns that were five to seven percentage points higher than their low‐CSR counterparts during the 2008–2009 financial crisis, and even larger excess returns during the Enron crisis of 2001–2003. High‐CSR companies during the crisis also reported better operating performance, higher growth, higher employee productivity, and greater access to debt markets—while continuing to generate higher shareholder returns as late as the end of 2013. Many of these operating improvements continued well into the post‐crisis period, though at more modest levels.As the authors view their findings, the ‘social capital’ built up by corporate CSR programs complements effective financial capital management in increasing shareholder wealth mainly by limiting companies' downside risk. CSR is seen as not only reducing systematic as well as firm‐specific risk, but as also providing protection against overall ‘loss of trust.’ The social capital created by CSR programs is said to provide a kind of insurance policy that pays off when investors and the overall economy face a severe crisis of confidence.

Hypochloremic metabolic alkalosis: The importance of a right lab’s answer

As unconventional fossil fuel production expands in much of the world, so does controversy, and in many cases, public opposition. This study explores citizen perceptions, support, and opposition for several types of unconventional fossil fuel in the case study of Canada, where such production continues to grow. We use a nationally representative survey of Canadians (n = 1407) to assess citizen acceptance of oil sands development and natural gas development using hydraulic fracturing, as well as related infrastructure (specifically the Northern Gateway, TransMountain, and Energy East pipelines). We compare this acceptance to other forms of energy generation, namely conventional oil, coal, renewables, and nuclear. Across the Canadian sample, oil sands and pipelines tend to have less acceptance than renewables and conventional oil, but more acceptance than nuclear and coal power. Acceptance for unconventional fossil fuel development and infrastructure is consistently higher among respondents in Alberta (the province where most development occurs), where respondents perceive more economic benefits and less environmental and social costs. Within each region, acceptance levels are similar for oil sands and oil sands pipelines, while hydraulic fracturing has significantly lower acceptance within all regions. Regression analyses indicate consistent patterns: opposition to unconventional fossil fuel developments and infrastructure is predicted by higher biospheric-altruistic values and environmental concern, and support is predicted by higher egoistic and traditional values and higher trust in oil and gas companies. Results provide insights to policymakers and stakeholders, including regional differences in acceptance, and how citizens perceive oil sands related projects differently than hydraulic fracturing.

Decyzje konsumenckie w dobie rewolucji cyfrowej i sztucznej inteligencji — przegląd trendów

Consumer decisions in the era of digital revolution and artificial intelligence: A review of trends In the era of digital revolution, customers gained access to almost unlimited sources of information about products and services. The article presents selected trends influencing the shape of purchasing decisions and their impact on customer empowerment: mobile applications, chat­bots, forums and social media, as well as artificial intelligence and the Internet of things. The au­thor points out both the positive and the negative impact of technological trends on consumer decisions: decrease of trust in companies, overload of information and problems with their verification, too high level of automation. The basic conclusion coming from the analysis is that de­spite the advent of numerous technological innovations, consumers are closing themselves in fil­tering bubbles, losing chances of new experiences, as well as confidence in subsequent information sources, which has negative impact on their relationship with both companies and other customers.

The structural relationship among professional baseball team’s corporate social responsibility, team image and equity of professional baseball team’s mother company

Purpose The purpose of this study was to identify the relationship among the social responsibility (economic responsibility, community cultural activity and social contribution activity), the image of the club, and the assets (image, reliability, attitude and loyalty) of the mother company. Methods The objectives of this research were the home fan in “2018 Shinhan Bank My Car KBO League.” A survey was conducted for 350 home fans of SK Wyverns who gathered in Incheon SK Happiness Dream Baseball Ground to watch the games of SK Wyverns vs. Samsung Lions held from April 6 (Fri.) to April 8 (Sun.). Data processing was done with PASW Ver. 18.0 and AMOS 18.0. Results Firstly, among the sub-factors of social responsibility, economic responsibility, community cultural activity and consumer protection had significant influence on the team image. Secondly, the team image had meaningful influence on the mother company image. Thirdly, the mother company image had significant influence on the mother company trust, mother company attitude and mother company loyalty. Fourthly, the mother company trust had significant influence on the mother company loyalty. Fifthly, the mother company attitude had significant influence on the mother company loyalty. Conclusions The mother companies of professional baseball clubs, too, will have to seek various ways for joint working with professional baseball clubs while actively supporting the activities of the professional baseball clubs being aware that professional baseball clubs give positive effect to the mother companies.

Entrepreneurs’ behavioural biases, risk misperception and company underinsurance

We analyse the effect of behavioural biases on entrepreneurs’ decisions to insure their firms against different kinds of corporate risks. We use a large sample of 2,295 Italian small and medium enterprises (SMEs), finding that they under-insure themselves. Since SMEs should insure more – in proportion – compared to bigger companies, analysing the reasons for this underinsurance is relevant to improve entrepreneurs’ decisions and help their firms, but also from a policy-making point of view. We link corporate insurance choices with the entrepreneurs’ personal characteristics and behavioral traits as well as with their households’ financial choices. Our methodology uses stepwise regressions to discern which variables are statistically significant. In our results, we find that entrepreneurs not only underinsure their firms but also themselves, thus exposing themselves, their firms and their families to high idiosyncratic risk. We find that these suboptimal decisions are affected by behavioural biases such as overconfidence, over optimism, risk misperceptions, and stubbornness, even though in a not straightforward manner. We measure both the overall effect on the number of insurances underwritten and on the specific type of insurance contract. In general, we find that relatively bigger firms do buy more insurance, and that trust in insurance companies is a key driver to insurance purchasing, as well as the estimated probability of suffering damages in the future. In contrast, entrepreneurs do underwrite fewer insurance contracts if their firms caused or suffered damages in the past, but also if they possess personal insurances, thus treating them as substitutes for firm insurance. Since SMEs represent a very important part not only of the Italian economy but also of the economy of many other countries, analyzing their insurance-related decisions is relevant because understanding the determinants that may lead entrepreneurs to mitigate the risks they face is beneficial not only for them and their firms but also for the economy as a whole.

스포츠 윤리경영에 대한 프로야구단과 모기업간의 유효성 검증

The purpose of this study is to investigate the structural relationship among professional baseball team ethics management, team reputation, team identification, parent company identification, parent company image, and parent company trust. The subjects were spectators of 10 teasm participating in the 2017 KBO league. The sampling was conducted using the objective sampling method, and a total of 1,000 samples were collected from each group. Of the questionnaires, 956 were used in the aanlysis except for 44 questions. The model and hypothesis test were conducted through AMOS 20.0. The analysis results are as follows. First, the professional baseball team’s ethics management had a positive impacot n the club’s reputation. Second, the professional baseball team’s reputation had been positive in identifiyng the club. Third, the identification of the team of the professional baseball team had a positive effect on the identification of the parent company. Fourth, the parent company identification of the professional baseball team had a positive effect on the parent company image. Fifth, the identification of the parent company’s paren tcompany had a positive impact on the parent company’s trust. Sixth, the parent company image of professional baseball team had a positive effect on parent company trust. These results show that the ethics management of the professional baseball team leads the team identification through the team reputation and affects the image of the parent company and the trust o f the parent company through the team identification. Accordingly, the ethical management strategy should be strengthened so that the image of the parent company and the utrst of the professional baseball team can be improved.

The impact of shale development on crop farmers: how the size and location of farms matter

New technologies coupled with high energy prices, a desire for energy independence, and cleaner energy, have led to many energy companies investing large amounts of capital into rural places. In the last decade, along with solar and wind, unconventional shale oil and gas production has risen steeply throughout the United States (U.S. Energy Information Administration, Drilling productivity report, 2018) boosting economic growth and stimulating wealth creation in many communities. Because farmers own or operate over half of rural lands in the lower 48 states, the possibility is high for shale development to contribute to the financial well-being of farmers with land in shale regions. However, by focusing on the large royalties of some landowners, environmental and social risks that farmers encounter may be overlooked. To address the gap of farmer impacts, I examine the experiences and perceptions of crop farm owners who reside in two established shale plays: the Bakken region in North Dakota and the Marcellus region in Pennsylvania and in one emerging shale play: the New Albany region in Southern Illinois. I survey farm owners of both large and small crop farms, who farm a variety of crops both by conventional and organic methods. By having such a diverse sample of farm owners in both established shale plays and emerging shale plays, I explore how farmers’ experiences differ with respect to their finances and investments, environmental degradation as well as how their perceptions of trust in oil and gas companies and community rifts differ.

Reputation Record System Enhances the Company Trust and Productivity

Reputation Record System Enhances the Company Trust and Productivity

Trust in Nuclear Companies and Social Acceptance of a Nuclear Waste Repository in Finland

Trust in Nuclear Companies and Social Acceptance of a Nuclear Waste Repository in Finland

Modelling teachers’ acceptance of children’s internet use: A risk-focused inquiry

In this two-phase study, teachers’ acceptance of children’s internet use was investigated by surveying 298 preservice and 302 in-service teachers. Thirty-three indicators were retrieved from the literature to measure perceived acceptance, perceived benefits, perceived availability of risks, prevalence of online risks, trust in technology companies, and trust in government agencies. The measurement model was confirmed in both studies without any modifications. In both studies, the trust in technological companies and the trust in government agencies did not predict the perceived acceptance. In the first study, perceived availability of online risks predicted the acceptance through the full mediation of perceived online risks. The acceptance was also explained by perceived benefits. In the second study, the same structure was meaningful; however, the perceived risk was predicted by perceived benefits as well. Perceived benefits, acceptance and trust in technological companies were stronger among preservice teachers; whereas online risk perceptions were stronger among in-service teachers probably due to age-related risk perception differences.

The value of our personal data in the Big Data and the Internet of all Things Era

The fourth industrial revolution, in which we transit, is preceded by a digital economy based fundamentally on information. And although estimates have been made on whether the data moving in the digital economy flow are from sensors or machines or come from each of us, one thing is certain, all information has a monetary value. Within this flow of information are our personal data. Every moment that we use an electronic device we leave behind vestiges of our life, which are collected by the machines to generate value to the companies. In this way our information is subject to market rules, supply and demand. We have become intangible beings, mercantilized, giving our bodies of data to the science, innovation and technological development. With the use of technologies such as Big Data and IoT, more information less is better. The speed with which our information is collected and treated as well as commercialized is undermining confidence in the digital market. Concern about the misuse of our personal data, or about the information we know about us, raises fundamental questions about privacy, ownership of information and human rights. The question of who should benefit from products and services based on digital data (generated by users) are the main uncertainties that shape the digital market opportunities. But, how can we measure trust in companies if we are not aware of the value our personal information has in the digital economy? What is the value that, as headlines, we give to our personal data? Perhaps therein lies the problem of allowing others to have power over our information. To promote the digital market and trust in it, we need to know the value of our information. Becoming aware of the fact and consequences of collecting our data, as well as its monetary value and importance in the digital economy, is the first beneficial step towards the empowerment of our information

Research on Social Stability Risk of PX Project

China’s PX (paraxylene) project has repeatedly been opposed by the public, group events occur frequently, and social stability risk is serious. Through quantitative analysis, this article reveals the profound impact of the relationship among the three major subjects which is people, government, and chemical companies on the social stability risks of the PX project. The survey shows that people have misunderstood PX and have a strong sense of distrust in local governments and chemical companies. By using methods such as principal component analysis, logistic regression, and χ² analysis, the research proves that the above facts have led to significant public opposition to PX project construction, serious apprehension, and a clear intention to take actions to safeguard their rights. Therefore, in order to reduce the social stability risk of PX projects, it is necessary to increase public understanding of PX projects, provide citizens with a legitimate channel for participation in project decision-making,and rebuild public trust in governments and chemical companies.

Views Of Primary Care Providers On Testing Patients For Genetic Risks For Common Chronic Diseases.

We surveyed 488 primary care providers in community and academic practices in New York City in the period 2014-16 about their views on genetic testing for chronic diseases. The majority of the providers, most of whom were current or recent physicians in training, had had formal genetics education and had positive views of the utility of genetic testing. However, they felt unprepared to work with patients at high risk for genetic conditions and were not confident about interpreting test results. Many were concerned that genetic testing might lead to insurance discrimination and lacked trust in companies that offer genetic tests. These findings point to some of the attitudes and knowledge gaps among the providers that should be considered in the clinical implementation of genomic medicine for chronic conditions. Enhanced training, guidelines, clinical tools, and awareness of patient protections might support the effective adoption of genomic medicine by primary care providers.

"I would rather have it done by a doctor"-laypeople's perceptions of direct-to-consumer genetic testing (DTC GT) and its ethical implications.

Direct-to-consumer genetic testing (DTC GT) has been available for several years now, with varying degrees of regulation across different countries. Despite a restrictive legal framework it is possible for consumers to order genetic tests from companies located in other countries. However, German laypeople's awareness and perceptions of DTC GT services is still unexplored. We conducted seven focus groups (participants n = 43) with German laypeople to explore their perceptions of and attitudes towards commercial genetic testing and its ethical implications. Participants were critical towards DTC GT. Criticism was directed at health-related, predictive testing, while lifestyle tests were accepted and even welcomed to some extent. Participants expressed strong reservations regarding commercial provision of genetic diagnostics and expressed a lack of trust in respective companies. They preferred non-commercial distribution within the public healthcare system. Participants also expressed high expectations of physicians' abilities to interpret information obtained via DTC GT companies and provide counseling. Legal restrictions on commercial distribution of genetic tests were opposed, with participants arguing that it should be available to consumers. DTC GT companies are not perceived as trustworthy when compared to the public healthcare system and its professional ethical standards and practices. Laypeople rated general consumer autonomy higher than their own concerns, thus recommending against strong legal regulation. We conclude that medicine's trustworthiness may be negatively affected if commercial provision is not visibly opposed by the medical professions, while DTC GT companies may gain in trustworthiness if they adapt to standards and practices upheld in medicine.

Believing is buying: religiosity, advertising skepticism, and corporate trust

Prior research has shown that religiosity influences consumer skepticism, but such research has lacked examination of the breadth of this effect and isolation of this effect by manipulating religion. Three studies explore this relationship. Study 1 shows that advertising skepticism mediates the relationship between religiosity and corporate trust. Study 2 finds that highly religious consumers are less skeptical of advertising leading to higher product perceptions and higher company trust. Study 3 primes religion with a writing task to show that the effects from Studies 1 and 2 are magnified after exposure to a religious prime, such that consumers who are primed with religion, in comparison to a control condition, exhibit significantly lower (higher) advertising skepticism, resulting in higher (lower) product evaluations, and higher (lower) brand trust. Corresponding implications for the trust, deception, and persuasion literature are discussed.

Medicine-related beliefs predict attribution of symptoms to a sham medicine: A prospective study.

ObjectivesTo investigate a range of possible predictors of nocebo responses to medicines.DesignProspective cohort study.MethodsIn total, 203 healthy adult volunteers completed measures concerning demographics, psychological factors, medicine‐related beliefs, baseline symptoms, and symptom expectations before taking a sham pill, described as ‘a well‐known tablet available without prescription’ that was known to be associated with several side effects. Associations between these measures and subsequent attribution of symptoms to the tablet were assessed using a hurdle model consisting of a joint logistic and truncated negative binomial regression.ResultsMen had an increased odds of attributing symptoms to the tablet OR = 1.52, and older participants had decreased odds, OR = 0.97. Medicine‐related beliefs were important, with modern health worries, belief that medicines cause harm and perceived sensitivity to medicines associated with increased odds of symptom attribution, OR = 1.02, 1.10, 1.09, respectively. Trust in medicines and pharmaceutical companies decreased the odds of symptom attribution, OR = 0.91, 0.88, respectively. The number of symptoms at baseline and the expected likelihood of symptoms were associated with an increased odds of attributing symptoms to the tablet, OR = 1.07, 1.06, respectively. Anxiety, previous symptom experience, symptom expectations, and modern health worries were also important in predicting the number of symptoms participants attributed to the tablet.ConclusionIt is hard to predict who is at risk of developing nocebo responses to medicines from demographic or personality characteristics. Context‐specific factors such as beliefs about and trust in medicines, current symptoms and symptom expectations are more useful as predictors. More work is needed to investigate this in a patient sample. Statement of contribution What is already known on this subject? Many patients report non‐specific side effects to their medication which may arise through a nocebo effect.Whether some people are particularly predisposed to experience nocebo effects remains unclear. What does this study add? Demographic and personality characteristics are poor predictors of symptom attribution to a sham medicine.Instead, context‐specific factors that concern people's beliefs surrounding medicines, their current symptoms, and symptom expectations are more useful as predictors of symptom attribution.

Preconditions for social licence: The importance of information in initial engagement

Building on the knowledge that procedural fairness of and trust in mining companies, as well as confidence in governance, are key determinants of social licence to operate (SLO), the present research aims to examine how these preconditions of SLO are affected by the terms of engagement set out in initial letters sent to residents. Through an experimental study, quasi-experimental methodology was employed with four experimental conditions, where participants read an initial letter introducing a hypothetical mining proposal issued by a fictitious mining company (Nortor Mining Corporation – NMC) and then answered a number of questions regarding procedural fairness of and trust in NMC, as well as confidence in its governance. Condition 1 (i.e. a basic overview of the project) was modelled on a notice from a real mining company outlining opportunities for community engagement. Conditions 2 (Condition 1 plus commitment to engage), 3 (Condition 2 plus adherence to government requirements), and 4 (Condition 3 plus community’s opportunity to contribute) were established through systematically and accumulatively adding information on NMC’s detailed community engagement plan, the government assessment process, and opportunities for community involvement. The findings suggest that Condition 3 and Condition 4 resulted in higher scores for all three preconditions of SLO. The results demonstrate that the information presented in an initial community engagement letter can significantly influence community members’ attitudes toward a proposed mining development, highlighting the importance of mining companies having concrete community engagement plans in place and demonstrating strong commitment to regulatory requirements right at the beginning.