The paper investigates how interorganizational trust and perceived risk contribute to the dynamics of exchange performance in inter-firm relations. A theoretical model and a number of hypotheses have been developed according to the Relational View of the firm. Following this perspective, interorganizational trust and perceived risk have been considered as impacting on exchange performance through the mediating effects of four sources of relational rents: asset specificity; knowledge-sharing routines; complementary resource-capabilities and effective governance. Our findings – using data from a sample of buyer-supplier relationships in the fashion industry – indicate that interorganizational trust and perceived risk are moderately related constructs and play different roles in affecting exchange performance.
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