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Trust as a factor in the effectiveness of business partnership

Author

Listed:
  • Dmitrij Vladimirovich Kukharchuk

    (Russian Foreign Trade Academy Professor, Moscow, Russia)

Abstract

The article reveals the role of trust in the development and improvement of the effectiveness of partner business relations. In the context of globalization of markets, trust becomes a noticeable factor in the formation of long-term mutually beneficial relations, allowing each of the partners to achieve the strategic goals more effectively. Contributing to a significant reduction in transaction costs, trust is an additional source of sustainable competitive advantage of the business, increasing its efficiency.

Suggested Citation

  • Dmitrij Vladimirovich Kukharchuk, 2019. "Trust as a factor in the effectiveness of business partnership," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 6, pages 118-124, June.
    • Handle: RePEc:alq:rufejo:rfej_2019_06_118-124
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    References listed on IDEAS

    as
    1. A. Lyasko, 2003. "Trust and Transaction Costs," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 1.
    2. A. Lyasko., 2003. "Trust and Transaction Costs," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
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