In crowdfunding we trust : a trust-building model in lending crowdfunding

Trust critically affects the perceived probability of receiving expected returns on investment. Crowdfunding differs in many ways from traditional forms of investing. We have to ask what builds trust in this particular context. Based on literature regarding the formation of initial trust, we developed a model to explain which factors lead to crowdfunders’ trust in a crowdfunding project. We tested it on data collected from actual investors in a real project on a crowdlending platform. Our results show that trust in the crowdfunding platform and the information quality are more important factors of project trust than trust in the creator

An Analysis of Virtual Team Characteristics: A Model for Virtual Project Managers

An integrated model, created to guide project managers, is outlined for the implementation and management of virtual teams. This model is developed by means of an exploratory literature review and an empirical investigation of virtual team utilization in a multinational medical device manufacturer, which examines several factors critical to their success. A TOWS matrix is used to structure the results of the analysis and to identify future virtual team strategies for the organization. The study demonstrates that a structured approach is essential to ensure that the benefits resulting from virtual teamwork are maximized

A Conceptual Framework for Understanding Trust Building and Maintenance in Virtual Organizations

The issue of trust development in traditional organizations has been widely discussed in the academic literature for several years. Recently, scholars have also studied trust development in temporary groups and have noted some fundamental differences between the manner in which trust develops in traditional organizations and the manner in which it develops in temporary groups. Virtual organizations are a new type of organization characterized by traits of both traditional organizations and temporary groups. This paper integrates the literature on trust in virtual organizations and the perspectives of trust development in both traditional organizations and temporary groups to develop a process-based framework which facilitates the understanding of trust development in the virtual organization setting

Effective Strategies for Building Trust in Virtual Teams

Virtual teams often fail to achieve their objectives because virtual team leaders lack strategies for nurturing trust among dispersed team members. The purpose of this single case study was to explore strategies virtual team leaders in large corporate banks use to build trust among virtual team members. The population of this study included 6 virtual team leaders from a large corporate bank located in the northeast region of the United States. The interpersonal trust theory was the conceptual framework of this study. Data were collected via semistructured telephone interviews and review of company documents. The data analysis process included content analysis and thematic analysis for theme identification. Data analysis revealed four themes related to strategies that leaders of virtual teams can use to build trust among team members: reliable technology, effective communication, teamwork and participation, and respect for people and culture. A fifth theme emerged related to barriers to trust strategies. The implications for positive social change include the potential to improve work environments for virtual team members isolated because of the absence of a social context

A Conceptual Management Model of Virtual Project Team in International Companies

Globalisation and technological advancement have an enormous impact on how businesses operate. Technological evolution, economic challenges, and different generations working in one workforce impact businesses to seek flexibility and adopt techniques that support virtual teamwork. In the modern international business environment increasing number of teams that work in virtual environments through project execution, leads to the need for theory and research on how successfully manage virtual project teams. In this paper the analysis of the scientific literature allowed to formulate the definition of a virtual project team, the analysis was able to show the management aspects, which are related to the features of the virtual project team, review of scientific literature also let to disclose the emerging problems faced by managers. These results were used to conceptualise the virtual project team management model in international companies

Influencing a Swift Trust for Elevating Communications of a Virtual Learning Community

The reduced range of online communication means that less information is available for the parties in a communication to acquire an accurate meaning of words, phrases, or concepts in an exchange process. In online communication, encoded emotional information is often subtle and difficult to interpret with any degree of accuracy; this interpretation is even more difficult in academic discussions that are lacking in emotion. The resulting misunderstandings contribute to a degree of uncertainty and confusion with some students, and to full-blown conflict with others. Uncertainty is problematic because it can inhibit or altogether collapse a conventional trust perception. The most valuable communications, therefore, develop on a foundation of trust. This study was designed to explore swift trust, a lesser form of trust that can form instantly from the initial communications expressed in a community. A swift trust perception can bridge social development and allow communicants to ignore the communication and environmental challenges that impede a conventional form of trust from developing for virtual communities. This quantitative study utilized multiple regression analysis to predict relationships between the predictive variables and examine the criterion variables in focus. The multiple regression analysis was used to interpret the survey data and provide insight into the trust-inducing potential of a fragile swift trust perception for elevating online discussions to a higher level

Trust in Virtual Teams: Towards an Integrative Model of Trust Formation

Traditional models of trust have seen trust as being created as a result of a long history of interaction, but recent studies of trust in virtual teams have shown the existence of high initial trust among team members. This paper proposes an integrated model of trust that encompasses both the traditional view of trust and the swift trust found in virtual teams. Based on the dual process theories of cognition, we argue that individuals form trust attitudes via three distinct routes at different stages of a relationship: the peripheral route, the central route, and the habitual route, irrespective. In the initial stages of a relationship when individuals lack information about each other, they rely on peripheral cues (e.g., third party information, social categories, roles, and rules) to form trust. Once individuals have shared history and knowledge of the other party, they use the central route, which involves the assessment of the other party’s ability, integrity, and benevolence. Finally, after long periods of shared history in which the individuals develop a habitual pattern of trust, along with possible emotional bonds, they are no longer motivated to deliberately assess trust, and instead simply enact prior trust attitudes via the habitual route. The mediated communication environment predominantly used by virtual teams slows down the progression among the three routes, and increases perceived risk.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/116290/1/Hung et al. 2004.pd

Critical analysis of interpersonal trust determinants in virtual teams, working in capability planning in the identification of capability gaps or needs, to provide required future military capability in the UK’s MOD

The United Kingdom’s Ministry of Defence (MOD) balances defence policy aspirations and available resources through the capability planning process. Arguably, the cornerstone of this process is the cross-functional integration of skills and capabilities across defence. This is realised through a construct of Virtual Teams (VTs) called Capability Planning Groups (CPGs). Literature on the topic of interpersonal trust in VTs highlights the development of trust as a key element, if not the most significant, in pursuing desired outcomes. Furthermore, literature on this topic, in a defence context, is scarce. This thesis undertakes a specific research approach, in accordance with its aim: To develop a critical analysis of interpersonal trust determinants in VTs, working in capability planning for the identification of capability gaps or needs, to provide required future military capability. Consequently, three research questions are investigated: What are the pertinent determinants of interpersonal trust in the CPG?; What, if any, are the issues surrounding those determinants within the CPG?; and, What risks are there, beyond the interpersonal relationships, which could influence the trust behaviour of CPG members? A critical review of pertinent literature is followed by the development of a research methodology under a phenomenological paradigm. Building from this, fieldwork was undertaken in two phases. As a result of semi-structured interviews to the members of a number of CPGs, the way in which interpersonal trust is generically perceived was conceptualised, and confirmation of the interpersonal trust determinants considered in an adapted model of interpersonal trust in CPGs was provided. In addition, a cross-case analysis allowed the integration of the data gathered, in order to identify target areas to be covered in the second wave of data collection. Subsequently, in Phase II, information was gathered through a survey questionnaire addressed to the whole population under consideration, in order to increase the robustness of the study, by confirming and providing further insights about key issues identified, as well as underpinning more powerful conclusions. From this, interpersonal trust determinants pertaining to the CPGs, as well as the issues and risks regarding interpersonal trust, were asserted. A major finding was the conceptualisation of these issues and risks, because they are critical in determining if a specific behaviour will be taken. Moreover, as highlighted in the Defence Reform Report (2011), some of these are already identified as very real concerns, and appear as structural or enduring problems at MOD level. These elements are deemed a central focus for future research, because of their significance as contextual variables that have to be addressed in order to stimulate interpersonal trust and, consequently, improve performance in the CPGs. As the use of VTs is considered most likely to increase over time in MOD organisations, the findings from this research will be useful to all personnel involved in capability planning, and other cross-functional activities. In particular, it could inform the design of organisational processes and systems as capability management is taken forward. Finally, the issues and risks associated with such virtual trust are asserted as not believed to be a manifestation of dysfunctional strategic planning because defence organisations can have clarity of purpose, can have clear direction, and yet still send competing messages. Paradoxically, that is the weakness of being strong. The analysis suggests that action has to be taken in order to stimulate interpersonal trust, because it is important to avoid or mitigate negative effects of contextual variables influencing CPGs. To this end, it is crucial to understand the role that interpersonal trust plays in the cross-functional work that is critical for the successful integration of skills and capabilities, and to ensure that people involved in capability planning and other cross-functional activities are assisted in understanding the nature of this challenging and complex context