Trust plays a central role in organizational life. It facilitates exchanges among individuals, enhances cooperation and coordination, and contributes to more effective relationships. This volume brings together a cross-disciplinary group of contributors to present some of the latest, most exciting conceptual perspectives in the field and to demonstrate a variety of new methodological approaches to the study of trust. It includes discussions on: the psychological and social antecedents of trust; the effects of social and organizational structures on trust; and the broad effects of trust on organizational functioning.

Trust-Based Forms of Governance

Trust-Based Forms of Governance

Trust-based forms of governance
Walter W.Powell

Why has there been such considerable scholarly interest in collaboration among business firms? Over the past decade, scholars have documented the burgeoning of a wide array of interfirm relationships, ranging from research partnerships, to joint ventures, to complex manufacturing and marketing agreements (Badaracco, 1991; Hagedoorn, 1993; Mowery, 1988). The motives for this upsurge in cooperative competition are perceived as strategic: risk sharing; access to markets, technologies, and complementary skills; shortened innovation cycles; and enhanced learning. Thus we know that varied forms of cooperation among business enterprises are not that rare. Indeed, several decades ago, Macaulay (1963) detailed a broad range of business practices that fall outside the details of a contract, and he reinvigorated discussions found in ...

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