Identifying the Factors of Stakeholder Trust: A Theoretical Study

Migle Matuleviciene, Jurgita Stravinskiene

Abstract


Purpose. To identify and to systematize the factors of stakeholder trust and to present the impact of trust factors on a particular stakeholder trust.

Methodology. Comparative analysis and systematization of the scientific literature.

Results. This paper reviews that the main factors of stakeholder trust are corporate reputation and organizational trustworthiness. Such factors as emotions, propensity to trust, experience with the organization and sociocultural factors, same as inborn factors or acquired during growth; factors related with the environment where the person lives or other factors are analyzed fragmentary in the scientific literature. The scientific literature has revealed that consumer trust is impacted by: emotional appeal, products and services, vision and leadership, competence, benevolence of the organization, inborn factors or acquired during growth, factors related with the environment where the person lives, emotions, propensity to trust, experience with the organization, sociocultural and other factors. Employee trust is impacted by: emotional appeal, financial performance, vision and leadership, workplace environment, social responsibility, competence, benevolence and transparency of the organization. Shareholder trust is impacted by: emotional appeal, financial performance, vision and leadership, competence and integrity of the organization. Finally, the community trust is impacted by: emotional appeal, social responsibility, competence, transparency and responsibility of the organization. With reference to psychological and marketing literature, we propose grouping trust factors into controllable and uncontrollable by the organization. Finally, we supposed two propositions: 1) controllable factors have a direct impact on every stakeholder trust; 2) uncontrollable factors have an indirect impact on the consumer trust. These propositions were reflected in a developed theoretical model of the impact of trust factors on stakeholder trust. A theoretical model can be used for further empirical studies.

The theoretical contribution. The trust concept is being analyzed for many years, but there is a lack of a clear approach on factors, which influence stakeholder trust. The analysis of stakeholder trust initiated that stakeholder trust is often analyzed in the context of organizational trustworthiness. Whereas the other factors impacting stakeholder trust are analyzed fragmentary. With reference to this situation in the existing scientific literature, we identified and systematized the factors of stakeholder trust and also presented the impact of trust factors on a particular stakeholder trust.

Keywords: trust factors, stakeholder trust, controllable trust factors, uncontrollable trust factors.

Paper type: Theoretical paper.


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