In the wake of the financial crisis: rebuilding the image of the finance industry through trust
Erika Hayes James ()
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Erika Hayes James: University of Virginia, Postal: Darden School, http://www.darden.virginia.edu/html/direc_detail.aspx?styleid=2&id=4331
Journal of Financial Transformation, 2009, vol. 27, pages 37-41
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.
Keywords: Financial services industry; trust; credbility (search for similar items in EconPapers)
JEL-codes: G20 M31 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:ris:jofitr:1382
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