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In the wake of the financial crisis: rebuilding the image of the finance industry through trust

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Abstract

The financial services industry is undergoing one of the most tumultuous times in its history and the consequence has been a precipitous decline in the public‟s trust in the industry and in its leadership. This article provides an overview of the construct of trust, describes why crisis events erode trust, and offers guidelines for how to rebuild trust following a crisis. Using the principles of crisis leadership as a backdrop, the article demonstrates the significance of integrity, positive intent, capability, mutual respect, and transparency on the trust building process.

Suggested Citation

  • James, Erika Hayes, 2009. "In the wake of the financial crisis: rebuilding the image of the finance industry through trust," Journal of Financial Transformation, Capco Institute, vol. 27, pages 37-41.
    • Handle: RePEc:ris:jofitr:1382
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    Cited by:

    1. Francisco Javier Forcadell & Elisa Aracil, 2017. "European Banks' Reputation for Corporate Social Responsibility," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 24(1), pages 1-14, January.
    2. Luis Porcuna Enguix, 2021. "The New EU Remuneration Policy as Good but Not Desired Corporate Governance Mechanism and the Role of CSR Disclosing," Sustainability, MDPI, vol. 13(10), pages 1-35, May.
    3. R. Radhakrishna Pillai & Anil Kumar G. & Krishnadas N., 2015. "Role of Self-managing Leadership in Crisis Management: An Empirical Study on the Effectiveness of Rajayoga," IIM Kozhikode Society & Management Review, , vol. 4(1), pages 15-37, January.

    More about this item

    Keywords

    Financial services industry; trust; credbility;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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