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Corporate stakeholders and trust

Goergen, Marc 2013. Corporate stakeholders and trust. The Spanish Review of Financial Economics 11 (2) , pp. 47-56. 10.1016/j.srfe.2013.09.002

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To my knowledge, this is the first paper that investigates the links between trust, the institutional setting (in terms of employment protection legislation (EPL) and investor rights) and studies the impact of all three on economic performance. In line with the previous literature (e.g. Knack and Keefer, 1997 and Zak and Knack, 2001), we find that trust has a positive impact on GDP per capita growth. Our novel results are twofold. First, we find that EPL and investor rights have a negative relationship and that both (although the latter to a lesser extent) are substitutes for trust. Second, all three variables have a positive effect on economic growth.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Uncontrolled Keywords: Corporate governance; Trust; Investor protection; Employment protection legislation; Institutions and economic growth
Publisher: Elsevier
ISSN: 2173-1268
Last Modified: 04 Jun 2017 05:42

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