Trust in the Entrepreneurial Process

Authored by: Trenton A. Williams , Dean A. Shepherd

The Routledge Companion to Trust

Print publication date:  March  2018
Online publication date:  March  2018

Print ISBN: 9781138817593
eBook ISBN: 9781315745572
Adobe ISBN:

10.4324/9781315745572-28

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Abstract

Trust is a ‘lubricant’ that facilitates cooperative exchange, especially under conditions of uncertainty, information asymmetry, and unobservable actions … It enables entrepreneurs to overcame the lack of legitimacy … and serves as a flexible and adaptive governance structure. [However], developing trust and trustful relations … involves the expenditure of scarce resources (time, psychological and social energy, and perhaps even economic resources).

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