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Entrepreneurship as Trust

Author

Listed:
  • Mickiewicz, Tomasz
  • Rebmann, Anna

Abstract

Trust is a critical component of our relationship with others. It forms a basis of not only social relations but also economic ones. Trust is necessarily linked to entrepreneurship because it is useful in conditions of uncertainty. An entrepreneur needs to gain trust of others who cannot obtain full knowledge on what is being introduced to the market as well trust others such as partners, employees and suppliers to deliver on promises. This study aims to examine the role of trust in entrepreneurship. After reviewing the conceptualisation of trust, we argue that trust should be seen in the context of a wider-set of entrepreneurship-supporting values. We then explore different types of trust and their role in entrepreneurship, moving from particular trust to extended trust, ending with a discussion on how new technology is enabling entrepreneurs to create a new form of distributed trust between strangers.

Suggested Citation

  • Mickiewicz, Tomasz & Rebmann, Anna, 2020. "Entrepreneurship as Trust," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 16(3), pages 244-309, February.
    • Handle: RePEc:now:fntent:0300000088
    DOI: 10.1561/0300000088
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    Citations

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    Cited by:

    1. Kritikos, Alexander, 2022. "Personality and Entrepreneurship," GLO Discussion Paper Series 1137, Global Labor Organization (GLO).
    2. Aparicio, Sebastian & Audretsch, David & Noguera, Maria & Urbano, David, 2022. "Can female entrepreneurs boost social mobility in developing countries? An institutional analysis," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    3. Esa Mangeloja & Tomi Ovaska & Ryo Takashima, 2022. "Entrepreneurial choices depend on trust: Some global evidence," Journal of International Entrepreneurship, Springer, vol. 20(4), pages 564-590, December.
    4. Xinmin Liu & Yue Zheng & Wencheng Yu, 2023. "The Nonlinear Relationship between Intellectual Property Protection and Farmers’ Entrepreneurship: An Empirical Analysis Based on CHFS Data," Sustainability, MDPI, vol. 15(7), pages 1-16, March.
    5. Fernandez, Viviana, 2021. "The role of trust and social commitment in start-up financing," International Review of Financial Analysis, Elsevier, vol. 75(C).
    6. Carlo Corradini, 2022. "Social trust and new firm formation: a regional perspective," Small Business Economics, Springer, vol. 58(1), pages 169-184, January.

    More about this item

    Keywords

    Trust; values; uncertainty; entrepreneurship; effectuation; family business; new technology; blockchain;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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