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D espite the widespread acceptance of trust as an informal governance institution, our understanding of its origins is nascent. Our review of the literature identified two distinct explanations: Trust emerges from either a shadow of the past (i.e., prior history) or a shadow of the future (i.e., expectations of continuity). In this paper we develop and(More)
Although the Transaction Cost Analysis framework (TCA) has been dominant in explaining inter-firm relationships, TCA has been criticized for ignoring the social embeddedness of inter-firm relationships. It is proposed that the inclusion of trust in TCA supplements the explanations offered by TCA on buyer behaviors in buyer-seller relationships. The(More)
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