Trust is a key dimension in the principal-agent relationship and it has been studied extensively.However,the dynamics,evolution,and intrinsic motivation and mechanisms have received less attention.This paper investiga...Trust is a key dimension in the principal-agent relationship and it has been studied extensively.However,the dynamics,evolution,and intrinsic motivation and mechanisms have received less attention.This paper investigates the intrinsic motivation of trust and it proposes a theoretical model of trust evolution that is based on the notion of‘trust response’and‘trust spiral’.We then specifically focus on trust within the lending relationship between banks and small businesses,and we run numerical simulations to further illustrate the evolution of involved mutual trust over time.Our model provides implications for future research in both trust evolution and small business lending relationships.展开更多
In a pilot project, the government allows two private companies to offer small-scale loans in a rural area In mid-February, the World Bank invited five veteran financial experts to visit Pingyao County in Shanxi Provi...In a pilot project, the government allows two private companies to offer small-scale loans in a rural area In mid-February, the World Bank invited five veteran financial experts to visit Pingyao County in Shanxi Province, a world heritage site approved by the United Nations Educational, Scientific and Cultural Organization. Although they had an enor-展开更多
基金This research is supported by the National Natural Science Foundation of China(Grant no.71703127).
文摘Trust is a key dimension in the principal-agent relationship and it has been studied extensively.However,the dynamics,evolution,and intrinsic motivation and mechanisms have received less attention.This paper investigates the intrinsic motivation of trust and it proposes a theoretical model of trust evolution that is based on the notion of‘trust response’and‘trust spiral’.We then specifically focus on trust within the lending relationship between banks and small businesses,and we run numerical simulations to further illustrate the evolution of involved mutual trust over time.Our model provides implications for future research in both trust evolution and small business lending relationships.
文摘In a pilot project, the government allows two private companies to offer small-scale loans in a rural area In mid-February, the World Bank invited five veteran financial experts to visit Pingyao County in Shanxi Province, a world heritage site approved by the United Nations Educational, Scientific and Cultural Organization. Although they had an enor-
