Trust as a factor in the effectiveness of business partnership

Dmitrij Vladimirovich Kukharchuk
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Dmitrij Vladimirovich Kukharchuk: Russian Foreign Trade Academy Professor, Moscow, Russia

Russian Foreign Economic Journal, 2019, issue 6, 118-124

Abstract: The article reveals the role of trust in the development and improvement of the effectiveness of partner business relations. In the context of globalization of markets, trust becomes a noticeable factor in the formation of long-term mutually beneficial relations, allowing each of the partners to achieve the strategic goals more effectively. Contributing to a significant reduction in transaction costs, trust is an additional source of sustainable competitive advantage of the business, increasing its efficiency.

Keywords: Trust; business partnership; efficiency; competitiveness; transaction costs. (search for similar items in EconPapers)
Date: 2019
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