Social Well-Being for a Sustainable Future: The Influence of Trust in Big Business and Banks on Perceptions of Technological Development from a Life Satisfaction Perspective in Latin America

Abstract

Sustainable development is becoming increasingly important because it improves the quality of our lives. Businesses must focus beyond maximizing corporate economic profits, which are very important. They must internalize the fact that planning and governance-oriented strategies focused on promoting human health and well-being ensure a sustainable future. This study explores the influence exerted by trust in large companies and banks on the perception that technological development has on people’s life satisfaction. The research uses data from the World Value Survey (WVS) and the World Bank, contemplating six Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico and Peru, in the period between 2012 and 2018. Our main results show that the lower the trust in institutions, the stronger the negative association with perceiving science and technology as making life easier, healthier and more comfortable in the near future. We also confirm that people who have very high levels of national pride tend to trust institutions. We also confirm that people who have very high levels of national pride tend to trust institutions. Finally, with this work, we contribute new empirical evidence to the current field of research on the influence of technological development on issues related to human beings, specifically in Latin America.

More Green, Better Funding? Exploring the Dynamics between Corporate Bank Loans and Trade Credit

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The Preference of Inter-Organizational Trust on Corporate Benefit-Seeking Behaviors: A Mechanisms-Based and Policy-Capturing Analysis

“…Much of the existing research on the mechanisms of trust influence tends to treat trust as an aggregate construct, ignoring the impact of differences in its sources on the mechanisms of trust [10,11]. Although the literature offers multiple explanatory perspectives on inter-organizational trust, this aggregated approach often yields inconsistent results and conflicting interpretations of trust mechanisms [12,13]. By distinguishing between different types of inter-organizational trust, we can gain a better understanding of its concept and effectively manage its role.…”

The Definition of Play: A Measurement Scale for Well-Being Based on Human Physiological Mechanisms

“…Therefore, it is necessary to review previous studies relating to well-being to examine what leads to enjoyment. In recent years, a number of studies have been conducted in various domains, such as loneliness during the pandemic [5], working style [6], housing and urban planning [7], transportation [8], socioeconomics [9], early childhood education [10], school [11], higher education [12], young people [13], and the elderly [14]. For example, in a 2015 study by Weziak-Bialowolska, the concept of well-being was interpreted as a set of domains comprising emotional health, physical health, meaning and purpose, social connections, character strength, and financial stability [15].…”

“…For example, in a 2015 study by Weziak-Bialowolska, the concept of well-being was interpreted as a set of domains comprising emotional health, physical health, meaning and purpose, social connections, character strength, and financial stability [15]. Regarding the domain of social welfare, López-Concepción [9] stated that trust in institutions (large corporations, governments, banks) as well as science and technology are making human life healthier, easier, and more comfortable. In Pasek's 2022 study, it was noted that from a psychological perspective, physical activity, along with self-esteem, is assumed to be associated with well-being [11].…”