Alma Mater
ISSN 1026-955X
Vestnik Vysshey Shkoly (Higher School Herald)
The best way to learn all about Higher Education


Non-institutional factors for forming public confidence in financial institutions in the Russian Federation

Т.Е. Давыдова, О.Ю. Смыслова, А.И. Вишнякова
80,00 Р

UDC 316.6:336.7

DOI 10.20339/AM.09-23.083        


Tatyana E. Davydova, Cand. Sci. (Economics), Docent, Senior Researcher in Institute of Regional Economics and Intergovernmental Relations, Financial University under the Government of the Russian Federation, Moscow, Russia; Associate Professor of Department of Digital and Sectoral Economics at Voronezh State Technical University, Voronezh, ORCID: 0000-0001-7091-5028, e-mail:

Olga Yu. Smyslova, Dr. Sci. (Economics), Docent, Professor in Department of Management and General Humanitarian Disciplines at Lipetsk Branch of Financial University under the Government of the Russian Federation, ORCID: 0000-0001-7008-5319, e-mail:  

Alina I. Vishnyakova, Research Laboratory Assistant at Lipetsk Branch of Federal Financial University under the Government of the Russian Federation, e-mail:


In the current conditions of heterogeneity and dynamics of the external environment, a person separately develops a certain degree of trust in it, which forms the strategy of his behavior. The degree of trust depends on institutional and non-institutional factors. The characteristics of these factors determine their significance in relation to the subjects of local or global interaction. In this article, we consider aspects of increasing the level of public confidence in financial institutions in the Russian Federation from the standpoint of the importance of non-institutional factors in developing the competitive advantages of financial institutions in the new reality. The study is based on the use of methods of structural and comparative analysis, rationale and interpretation, observation, formalization, expert assessments. In the course of the work, the analysis of scientific literature was carried out, the opinions of practitioners were studied, and the practical activities of individual financial institutions were studied. It was revealed that non-institutional factors of public confidence in financial institutions can be divided into general, presented in detail in the scientific literature (age, education, social status, type of activity, etc.), and specific, considered by researchers indirectly. Specific ones are presented by two groups of factors: considered in the scientific literature without regard to financial institutions (emotional intelligence, manipulative media content, etc.) and not considered by researchers, but designated by experts and taken into account by financial institutions (formation of an ecosystem, inclusive design, adherence to the principles of ESG, loyalty to the client environment, etc.). Within the framework of the developed classification, a substantiation of the prospects for the impact of the indicated factors in various horizons of planning the activity of financial institutions is given.

Keywords: trust, financial institutions, factors of public confidence, non-institutional factors.




1. Avakova, E.B., Pokrovskaya, N.N. Communicative efficiency as a factor of trust: analysis of emotional intelligence and value orientations of employees of the organization. In: Actual problems of sociology and management: interuniversity collection of scientific papers. St. Petersburg: St. Petersburg State University of Economics Press, 2016. P. 5–13. — EDN UAPGEO.

2. Avdeeva, I.A., Yuneva, E.A. Factor of trust in the formation of the institutional climate of the Russian society. Vestnik of the Saratov State Socio-Economic University. 2017. No. 5 (69). P. 9–13. — EDN YLSBRK

3. Alikperova, N.V., Yarasheva, A.V. Public trust - the foundation of stability of financial institutions. UEkS. 2015. No. 8 (80). URL: (accessed on: 13.06.2023).

4. Astakhova, L.V. Zero trust model as a factor of influence on the information behavior of employees of the organization. Scientific and Technical Information. Ser. 1: Organization and methodology of information work. 2022. No. 3. P. 13–17. DOI: 10.36535/0548-0019-2022-03-2 — EDN TVLIKV.

5.         Bazhenova, Yu.V., Egorova, O.Yu. Protection of personal data as a factor of trust to the brand in the Internet. Uspekhi v khimii i khimicheskoy tekhnologii. 2020. Vol. 34. No. 10 (233). P. 7–9. — EDN MBAGUA.

6.         Bilichenko, E.N. Self-confidence as a factor of self-actualization of personality. Theory and practice of social development. 2012. No. 9. P. 92–94. — EDN NPMFTO.

7.         Bogdanovskaya, I.M., Koroleva, N.N., Uglova, A.B. Psychological factors of trust to popular video bloggers in modern youth. Psychology. Journal of the Higher School of Economics. 2021. Vol. 18. No. 3. P. 451–467. — EDN JTNTYR.

8.         Venidiktov, S.V. Distortion of media reality: manipulation technologies and countermeasures strategies: a monograph. Mogilev: Mogilev. inst. of the Ministry of Internal Affairs, 2022. 192 p.

9.         Gerasimenko, A.P. Information space as a source of social threats. At the map of the Pacific Ocean: Information and analytical bulletin. 2018. 1 (249). P. 24–28.

10.       Godes N., Romaniuk V. “Trust cannot be doubted”: institutional trust and inflation expectations. Part 1. Institutional trust. Bankovskiy Vestnik. 2021. No. 10 (699). P. 18–26. — EDN IDFNAR.

11.       Gorbachev, A.L., Gorbacheva, T.M. Factors of social trust formation in the context of school education. Vestnik of Scientific Conferences. 2016. No. 9-4 (13). P. 28–31.

12.       Gordeeva, S.S., Sharypova, S.Yu. Cultural factors of trust formation in the organization: sociological analysis. Vestnik of Perm University. Philosophy. Psychology. Sociology. 2022. No. 3. P. 494–503. DOI: 10.17072/2078-7898/2022-3-494-503

13.       Gromakova, V.G. Socially responsible management as a factor in increasing confidence in society in conditions of institutional crisis. State and Municipal Management. Academic notes. 2022. No. 1. P. 33–38. DOI: 10.22394/2079-1690-2022-1-1-33-38

14.       Gurova, I.P., Korchagina, N.A. Economic factors of trust. Vlast’. 2012. No. 11. P. 122–125.

15.       Davydova, T.E., Gulyaeva, A.D. Realization of the state information policy in the sphere of increasing public confidence in financial institutions through the prism of the theory of generations: a conceptual approach. Production Organizer. 2023. Vol. 32. No. 2. P. 133–143. DOI: 10.36622/VSTU.2023.32.59.012

16.       Zhade, Z.A. Strengthening confidence in the authorities as a factor in improving the image of the region: the example of the Republic of Adygeya. State and Municipal Management. Uchenye zapiski. 2021. No. 4. P. 178–183. DOI: 10.22394/2079-1690-2021-1-4-178-183

17.       Kanieva, M.M., Orlova, M.G. Factor of trust in reputation management. In: Nauka. University. 2016: proceedings of the seventeenth international annual scientific-practical conference of teachers, students and postgraduates, Novosibirsk, March 25, 2016. Novosibirsk: Sibprint, 2016. P. 89–90.

18.       Korobach, M.V. Emotional intelligence and tolerance to uncertainty of the personality as factors of referral to the helpline. In: New technologies in clinical psychology and psychotherapy: proceedings of the Republican scientific-practical seminar with international participation, dedicated to the 20th anniversary of the Department of Medical Psychology and Psychotherapy EE “GrSMU”, Grodno, April 24, 2015. Grodno: Grodno State Medical University Press, 2015. P. 178–186.

19.       Malkina, M.Y., Ovchinnikov, V.N., Kholodilin, K.A. Institutional factors of political trust in modern Russia. Journal of Institutional Studies. 2020. 12 (4): 7793. DOI: 10.17835/2076-6297.2020.12.4.077-093

20.       Melnyk, V.P. Factors of trust and distrust in economic management. Scientific Works of Donetsk National Technical University. Ser.: Economic. 2009. No. 1 (37). P. 71–79.

21.       Mozolev, K.I. Phenomenon of trust as a factor of economic development of Russia. Eurasian Union of Scientists. 2018. No. 2-2 (47). P. 56–59.

22.       Pashuk, N.R., Beloglazova, V.A., Varkulevich, T.V. Business reputation of the subjects of social entrepreneurship as a factor of trust of regional actors. Economics, Entrepreneurship and Law. 2023. Vol. 13. No. 3. P. 721–732. DOI: 10.18334/epp.13.3.117353

23.       Pitulko, G.N. Russian charity as a factor of trust between society and the state in the XIX century. Management Consulting. 2022. No. 4 (160). P. 130–135. DOI: 10.22394/1726-1139-2022-4-130-135

24.       Ten, Yu.P. Trust as a factor contributing to overcoming cross-cultural barriers in international business. Izvestiya South-West State University. Series: Economics. Sociology. Management. 2021. Vol. 11. No. 5. P. 261–270. DOI: 10.21869/2223-1552-2021-11-5-261-270

25.       Sustainable development of Russia in the conditions of global changes / M.Yu. Evsin, I.V. Izmalkova, T.Yu. Ismaylova [et al.]. Tambov: Derzhavinsky Publishing House, 2023.

26.       Brill, T., Munoz, L., Richard, J. Siri, Alexa, and other digital assistants: A study of customer satisfaction with artificial intelligence applications. Journal of Marketing Management. 2019. Vol. 35. No. 15–16. P. 1401–1436.

27.       Chapple, C., & Cownie, F. An investigation into viewers’ trust in and response towards disclosed paid-for-endorsements by YouTube lifestyle vloggers. Journal of Promotional Communications. 2017. Vol. 5 (2). P. 110–136.

28.       Edelman Trust Barometer. URL: (accessed on: 20.06.2022).

29.       Khouya, M., Benabdelhadi, A. A holistic overview on the antecedents of organizational trust: Aggregated theoretical framework. International Journal of Accounting, Finance, Auditing, Management and Economics. 2021. Vol. 2. Iss. 6–1. P. 518–530. DOI: 10.5281/zenodo.5736469

30.       Kindervag, J. No More Chewy Centers: Introducing the Zero Trust Model of Information Security. Forrester Research. 2010. URL: Centers+The+Zero+Trust+Model+Of+Information+ Security/-/E-RES56682 (accessed on: 26.11.2022).

31.       Nunkoo, R. Governance and sustainable tourism: What is the role of trust, power and social capital? Journal of Destination Marketing & Management. 2017. Vol. 6. No. 4. P. 277–285.

32.       Pariser, E. The Filter Bubble: What the Internet Is Hiding from You. N. Y.: Penguin Press, 2011. 294 p.

33.       Pasek, A. Trust as an attribute of the internet good functioning. Science and World. 2020. No. 3-2(79). P. 80–83.


The work was prepared based on the results of research carried out at the expense of budgetary funds under the state order of the Financial University, VTK-GZ-50-23.