Based on a 1998 survey of urban residents in four Chinese cities, this article presents a rationalist interpretation about the determinants of social trust. It first breaks trust into four categories, namely, trust in...Based on a 1998 survey of urban residents in four Chinese cities, this article presents a rationalist interpretation about the determinants of social trust. It first breaks trust into four categories, namely, trust in family members, trust in friends, trust in acquaintances, and trust in strangers, the last of which is called “social trust”. After reviewing the existing theories of social trust, the second section puts forward a hypothesis that the more resources one possesses, the more likely s/he trusts others. This is so because when one owns more resources, her/his “disaster threshold” would be higher and s/he would be less vulnerable to potential losses due to others’ untrustworthiness. The final section finds empirical evidence to support this rationalist interpretation.展开更多
社会信任在经济活动中发挥着重要作用,其促进经济增长的微观机理近年来引起了学者的广泛关注。本文聚焦微观企业,以我国 A 股上市公司为样本,研究了社会信任对企业风险承担的影响。研究表明,地区社会信任有助于提高该地区企业的风险承...社会信任在经济活动中发挥着重要作用,其促进经济增长的微观机理近年来引起了学者的广泛关注。本文聚焦微观企业,以我国 A 股上市公司为样本,研究了社会信任对企业风险承担的影响。研究表明,地区社会信任有助于提高该地区企业的风险承担水平。进一步研究发现,社会信任与企业风险承担的正相关关系在公司治理较弱、融资约束较强的企业中更显著。同时,社会信任对代理问题的缓解主要表现为降低管理层职业忧虑。此外,社会信任促进企业风险承担的具体渠道为提高企业创新投资和银行债务融资。本研究将丰富和拓展企业风险承担影响因素、社会信任对公司行为影响的相关文献,对全面认识社会信任在公司风险选择中扮演的角色,以及如何提升企业风险承担水平,促进经济健康增长也具有重要的启示意义。展开更多
文摘Based on a 1998 survey of urban residents in four Chinese cities, this article presents a rationalist interpretation about the determinants of social trust. It first breaks trust into four categories, namely, trust in family members, trust in friends, trust in acquaintances, and trust in strangers, the last of which is called “social trust”. After reviewing the existing theories of social trust, the second section puts forward a hypothesis that the more resources one possesses, the more likely s/he trusts others. This is so because when one owns more resources, her/his “disaster threshold” would be higher and s/he would be less vulnerable to potential losses due to others’ untrustworthiness. The final section finds empirical evidence to support this rationalist interpretation.
文摘社会信任在经济活动中发挥着重要作用,其促进经济增长的微观机理近年来引起了学者的广泛关注。本文聚焦微观企业,以我国 A 股上市公司为样本,研究了社会信任对企业风险承担的影响。研究表明,地区社会信任有助于提高该地区企业的风险承担水平。进一步研究发现,社会信任与企业风险承担的正相关关系在公司治理较弱、融资约束较强的企业中更显著。同时,社会信任对代理问题的缓解主要表现为降低管理层职业忧虑。此外,社会信任促进企业风险承担的具体渠道为提高企业创新投资和银行债务融资。本研究将丰富和拓展企业风险承担影响因素、社会信任对公司行为影响的相关文献,对全面认识社会信任在公司风险选择中扮演的角色,以及如何提升企业风险承担水平,促进经济健康增长也具有重要的启示意义。
