Impact of cultural capital on online trust

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Issue Date
2016-10-19
Language
en
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Abstract
Social networks are evolving and developing rapidly, and at the same pace the mode of engagement with social networks by businesses is also evolving and developing rapidly in order to safeguard their business interests. This warrant for a strong commitment by the organizations towards the personal data privacy and protection and could help business organizations to build trust and loyalty with their customers in the online world. This study hence, is conducted to understand how different consumers react to organizations compromising online consumer’s privacy, evaluates cultural capital (cultural control) as a reason for the behavioral difference and as it impacts online trust. This research is on the different indicators of cultural capital that can lead to strengthen online trust among users of internet and managers of online businesses. Addressing the issue of a privacy paradox, it explains the privacy paradox and pros and cons of cultural capital. Problems of data privacy and how online companies jeopardize their security is discussed and measured through survey questionnaire (primary data) and from previous literature/research (secondary data). The research concludes by identifying how privacy concern affects online trust and the indicators of cultural capital. During the research it is discovered that respondents with high level of cultural capital significantly have higher level of online trust. It was also found that privacy concern did not significantly impact online trust while cultural capital has a significant impact on the online trust. Some other interesting results derived from the demographic variables indicated that no significant difference exists between male and female respondents regarding their attitude towards online trust. Also results showed that age had no significance influence on online trust. Finally, recommendations are made on how to mitigate the impact of consumer’s privacy concerns on online trust, thereby helping organizations craft an effective strategy to gain online trust of customers.
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Faculteit der Managementwetenschappen
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