Trust in, trust out: a real cost of sudden and significant financial loss

Aaron Bruhn*

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    4 Citations (Scopus)

    Abstract

    This study examines the loss of trust that occurs when individuals suffer from sudden and significant financial loss. We use a qualitative case study to show that individuals lose trust in a range of parties, including financial advisors, banks, credit providers, government and perhaps most damagingly of all, oneself. Such outcomes are concerning as all financial services are based on trust between various parties, and trust is important in making financial decisions. A lack of trust can lead to poorer individual and societal outcomes. It also suggests that trends to financial self-sufficiency have risks, which impact well beyond monetary losses.

    Original languageEnglish
    Pages (from-to)359-381
    Number of pages23
    JournalAccounting and Finance
    Volume59
    Issue numberS1
    DOIs
    Publication statusPublished - Apr 2019

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