کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
971063 | 1479561 | 2008 | 12 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Trust as risk and the foundation of investment value
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
Trust is an essential ingredient of the investment process because investing is complex, the world contains irreducible uncertainty, and humans are naturally predisposed to cooperate. Traditional financial models inappropriately treat trust as probability or implicitly ignore it. This paper argues that trust has both cognitive and affective attributes that make it an important determinant of perceived investment risk. Specifically, perceived risk varies inversely with trust. This paper also discusses how trust offers a logical and parsimonious explanation for many financial asset pricing anomalies. Trust is the unseen faith underlying investment value.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Journal of Socio-Economics - Volume 37, Issue 6, December 2008, Pages 2189–2200
Journal: The Journal of Socio-Economics - Volume 37, Issue 6, December 2008, Pages 2189–2200
نویسندگان
Robert A. Olsen,