Knows Me and My Business: The Association between Preference for Relational Governance and Owners' Choice of Banks

Tl Hill and Jonathan Scott

Journal of Small Business Management, 2015, vol. 53, issue S1, 174-192

Abstract: We explore the relative importance of relational and economic preferences in small business owners' choice of a primary bank. We measured preferences directly at three points within 14 years and found that business owners' preference for relational versus economic governance was associated with the type of bank chosen and that the effect of relational preference remained relatively stable over time. Our findings support the idea that a preference for social relations might shape even the most straightforward economic decisions and suggest that variation in this preference is large, persistent enough to support business opportunities for small firms, including small banks.

Date: 2015
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DOI: 10.1111/jsbm.12193

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