Trust in B2C e-commerce : the New Zealand Maori internet shopper

This chapter identifies relevant factors of Maori trust in terms of encouraging online shopping of B2C e-commerce by Maori in New Zealand. The concepts of trust, risk and reputation are used to explore the uptake of Internet shopping in a B2C context by Maori, a minority-but significant-racial group, in New Zealand. Reputation and adoption of e-commerce in Maori culture emanates from family and tribe, typically by word of mouth. This chapter suggests that specific cultures like the Maori have different elements in their trust of e-commerce, which needs to be addressed to encourage broader use.

Leadership for socially just schooling: more substance and less style in high-risk, low-trust times?

This article argues that radical shifts in school governance arising from wider social, political, and economic relations toward what are described as high-risk and low-trust societies challenge past notions of leadership. I explore the tensions between the pluralism of postmodernist thinking and modernist notions of social justice that produce "predicaments" for school leaders through a series of paradoxes of educational management around centralized decentralization, markets and management, new educational professionalism, parental choice and community participation, and between the substance and style of leadership. The values underpinning the corporatization of public and private life most evident in education do not provide a satisfactory grounding for effective school leadership.

The effects of technical and social conditions on workplace trust

This paper investigates the extent to which the technical and social contexts of organizations independently affect levels of workplace trust. We argue that, in an organizational context, trust is not just a relationship between an individual subject (the truster) and an object (the trustee) but is subject to effects from the conditions of the work relationship itself. We describe the organizational context as comprising both a technical system of production (where work gets done through the specification of tasks) and a social system of work (where problems of effort, compliance, conformity and motivation are managed). We analyse the relationship between trust and these two aspects of workplace context (technical and social systems). We also operationalize this in terms of differences between industries,  occupational composition and human resource management practices. The model is tested using data drawn from the 1995 Australian Workplace Industrial Relations Survey. The results confirm that differences in industry, occupational composition and HRM practices all impact on levels of workplace trust. We review these results in terms of their implications for future research into the problem of analysing variation in trust at both the workplace and individual levels.

Trust and e-commerce: a study of consumer perceptions

Increasing use of the World Wide Web as a B2C commercial tool raises interest in understanding the key issues in building relationships with customers on the Internet. Trust is believed to be the key to these relationships. Given the differences between a virtual and a conventional marketplace, antecedents and consequences of trust merit re-examination. This research identifies a number of key factors related to trust in the B2C context and proposes a framework based on a series of underpinning relationships among these factors.

A reputation-based trust model for agent societies

Trust and security issues are prevalent in agent societies, where agents are autonomously owned and operated in a networked environment. Nowadays, trust and reputation management is a promising approach to manage them. However, many reputation models su.ered from a major drawback – there is no mechanism to discourage agents from lying information when making a recommendation. Although some works do take into account of this issue, they usually do not penalize an agent for making poor referrals. Worse, some systems actually judge an agents referral reputation based on its service reputation. In situations where this is unacceptable, we need to have a mechanism where agents are not only discouraged from making poor referrals, but are also penalized when doing so. Towards this, we propose a reputation-based trust model that considers an agents referral reputation as a separate entity within the broader sense of an agents reputation. Our objective is not to replace any existing reputation mechanisms, but rather to complement and extend them.

The gender composition of boards of property trust IPOs in Australia from 1994 to 2004

This study investigates the gender composition of the boards of directors of Australian property trust IPOs from 1994 to 2004. Like mining and industrial company IPOs, we find that property trust IPOs in Australia generally do not require female directors for the initial equity capital raising. We also find that larger IPOs during 1994 to 1999 tended to engage more women directors but that this relation was not significant in property trust IPOs from 2000 to 2004.

The pricing of property trust IPOs in Australia

Following Brounen and Eichholtz (2002) this paper adds to the international literature investigating the underpricing of REIT initial public offerings (IPOs), with a study into Australian property trusts. This study finds that initial day returns can in part be explained by forecast profit distributions (or dividends) and the market sentiment towards property trusts from the date of the prospectus to the date of listing. There is some support for the “winners curse” explanation of underpricing with evidence that large investor or institutional involvement at the outset of the IPO also has some explanatory power.

The costs of raising equity capital by Australian property trust initial public offerings

This paper reports some of the direct costs of raising equity capital by property trust initial public offerings (IPOs) in Australia from 1994 to 2004. It also documents the amount of underpricing by these IPOs. The results indicate the average fees paid to underwriters and/or stockbrokers in managing and marketing the issue was around 3.3% of the public equity capital raised. The average fees paid to legal firms, accounting firms and valuers for their professional involvement and expert reports were 0.4%, 0.2% and 0.1% respectively, totaling 0.7% of the equity raised. Other fees such as printing, listing fees, postage, distribution and advertising cost around 2.1%. The total average direct costs amounted to around 6.1% of the proceeds raised. The average underpricing by these property trust IPOs was 2.6%. This paper also investigates the hypotheses that the percentage direct capital raising costs are influenced by the size of the IPO and whether the IPO is underwritten. This study confirms that larger property trust equity capital raisings have lower percentage total direct cost;, however, it does not find that underwriting significantly influences the percentage of total direct costs for these property trust IPOs.

Factors influencing money left on the table by property trust IPO issuers

While previous listed property trust (LPT) initial public offering (IPO) studies have identified low under pricing returns, this study specifically examines the amount of money left on the table by the pre-IPO owners in this category of IPO. This study investigates 58 property trust IPOs in Australia from 1994 to 2004 and finds that the amount of money left by LPT IPOs is considerably less than industrial company IPOs, implying considerably less uncertainty about the valuation of such IPOs compared to industrials. We also find that more recent (post 2000) LPT IPOs in Australia appear to be significantly different to previous LPT IPOs in both money left and under pricing terms.

Integrating insurance services, trust and risk mechanisms into multi-agent systems

In multi-agent systems, there is often the need for an agent to cooperate with others so as to ensure that a given task is achieved timely and cost effectively. Currently multi-agent systems maximize this through mechanisms such as coalition formation, trust and risk assessments, etc. In this paper, we incorporate the concept of insurance with trust and risk mechanisms in multi-agent systems. The novelty of this proposal is that it ensures continuous sharing of resources while encouraging expected utility to be maximized in a dynamic environment. Our experimental results confirm the feasibility of our approach.

Relationship orientation : towards an antecedent model of trust in marketing relationships

With the advent and the increasing use of the concept of Relationship Marketing as a basis for marketing strategy, it has become evident that a lack of empirical knowledge exists as to the operational basis of the concept. Information regarding the conceptual basis of Relationship Marketing and a possible new orientation toward the concept may be of substantial value to both practitioners and scholars of relationship marketing. This paper considers the emergence of a Relationship Orientation within the marketing literature and proposes an antecedent model of Trust as a basis. The role of Ethics as a possible antecedent to Trust is emphasised and identified as a gap within the relationship marketing literature. Based on previous exploratory work and a review of the literature of relationship marketing, exchange theory, general marketing theory, marketing ethics and sales management, four key antecedent dimensions of Trust are identified: Ethics, Bonding, Empathy and Reciprocity. Additional possible antecedents are suggested. Future empirical research is proposed in order to validate the model.