• Asia Marketing Journal
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• v.12 no.2
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• pp.111-133
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• 2010

Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.

• Korean Journal of Mineralogy and Petrology
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• v.36 no.3
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• pp.185-197
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• 2023

The Gubong Au-Ag deposit consists of eight lens-shaped quartz veins. These veins have filled fractures along fault zones within Precambrian metasedimentary rock. This has been one of the largest deposits in Korea, and is geologically a mix of orogenic-type and intrusion-related types. Korea Mining Promotion Corporation drilled into a quartz vein (referred to as the No. 6 vein) with a width of 0.9 m and a grade of 27.9 g/t Au at a depth of -728 ML by drilling (No. 90-12) in the southern site of the deposit, To further investigate the potential redevelopment of the No. 6 vein, another drilling (No. 04-1) was carried out in 2004. In 2004, samples (wallrock, wallrock alteration and quartz vein) were collected from the No. 04-1 drilling core site to study the occurrence and chemical composition of Ti-bearing minerals (ilmenite, rutile). Rutile from mineralized zone at a depth of -275 ML occur minerals including K-feldspar, biotite, quartz, calcite, chlorite, pyrite in wallrock alteration zone. Ilmenite and rutile from ore vein (No. 6 vein) at a depth of -779 ML occur minerals including white mica, chlorite, apatite, zircon, quartz, calcite, pyrrhotite, pyrite in wallrock alteration zone and quartz vein. Based on mineral assemblage, rutile was formed by hydrothermal alteration (chloritization) of Ti-rich biotite in the wallrock. Chemical composition of ilmenite has maximum values of 0.09 wt.% (HfO₂), 0.39 wt.% (V₂O₃) and 0.54 wt.% (BaO). Comparing the chemical composition of rutile at a depth -275 ML and -779 ML, Rutile at a depth of -779 ML is higher contents (WO₃, FeO and BaO) than rutile at a depth of -275 ML. The substitutions of rutile at a depth of -275 ML and -779 ML are as followed : rutile at a depth of -275 ML Ba²⁺ + Al³⁺ + Hf⁴⁺ + (Nb⁵⁺, Ta⁵⁺) ↔ 3Ti⁴⁺ + Fe²⁺, 2V⁴⁺ + (W⁵⁺, Ta⁵⁺, Nb⁵⁺) ↔ 2Ti⁴⁺ + Al³⁺ + (Fe²⁺, Ba²⁺), Al³⁺ + V⁴⁺+ (Nb⁵⁺, Ta⁵⁺) ↔ 2Ti⁴⁺ + 2Fe²⁺, rutile at a depth of -779 ML 2 (Fe²⁺, Ba²⁺) + Al³⁺ + (W⁵⁺, Nb⁵⁺, Ta⁵⁺) ↔ 2Ti⁴⁺ + (V⁴⁺, Hf⁴⁺), Fe²⁺ + Al³⁺ + Hf ⁴⁺ + (W⁵⁺, Nb⁵⁺, Ta⁵⁺) ↔ 2Ti⁴⁺ + V⁴⁺ + Ba²⁺, respectively. Based on these data and chemical composition of rutiles from orogenic-type deposits, rutiles from Gubong deposit was formed in a relatively oxidizing environment than the rutile from orogenictype deposits (Unsan deposit, Kori Kollo deposit, Big Bell deposit, Meguma gold-bearing quartz vein).

• Korean Journal of Mineralogy and Petrology
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• v.36 no.4
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• pp.273-288
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• 2023

The Gubong Au-Ag deposit, which has been one of the largest deposits (Unsan, Daeyudong, Kwangyang) in Korea, consists of eight lens-shaped quartz veins (a mix of orogenic-type and intrusion-related types) that filled fractures along fault zones within Precambrian metasedimentary rock. Korea Mining Promotion Corporation found a quartz vein (referred to as the No. 6 vein with a grade of 27.9 g/t Au and a width of 0.9 m) at a depth of -728 ML by drilling (No. 90-12) conducted in 1989. Korea Mining Promotion Corporation conducted drilling (No. 04-1) in 2004 to investigate the redevelopment's possibility of the No. 6 vein. The author studied the occurrence and chemical composition of chlorite and white mica using wallrock, wallrock alteration and quartz vein samples collected from the No. 04-1 drilling core in 2004. The alteration of studied samples occurs chloritization, sericitization, silicification and pyritization. Chlorite and white mica from mineralized zone at a depth of -275 ML occur with quartz, K-feldspar, calcite, rutile and pyrite in wallrock alteration zone and quartz vein. Chlorite and white mica from ore vein (No. 6 vein) at a depth of -779 ML occur with quartz, calcite, apatite, zircon, rutile, ilmenite, pyrrhotite and pyrite in wallrock alteration zone and quartz vein. Chlorite from a depth of -779 ML has a higher content of Al and Mg elements and a lower content of Si and Fe elements than chlorite from a depth of -275 ML. Also, Chlorites from a depth of -275 ML and -779 ML have higher content of Si element than theoretical chlorite. Compositional variation in chlorite from a depth of -275 ML was mainly caused by phengitic or Tschermark substitution [Al^{3+,VI + Al3+,IV} <-> (Fe²⁺ or Mg²⁺)^VI + (Si⁴⁺)^IV], but compositional variation from a depth of -779 ML was mainly caused by octahedral Fe²⁺ <-> Mg²⁺ (Mn²⁺) substitution. The interlayer cation site occupancy (K+Na+Ca+Ba+Sr = 0.76~0.82 apfu, 0.72~0.91 apfu) of white mica from a depth of -275 ML and -779 ML have lower contents than theoretical dioctahedral micas, but octahedral site occupancy (Fe+Mg+Mn+Ti+Cr+V+Ni = 2.09~2.13 apfu, 2.06~2.14 apfu) have higher contents than theoretical dioctahedral micas. Compositional variation in white mica from a depth of -275 ML was caused by phengitic or Tschermark substitution [(Al³⁺)^VI + (Al³⁺)^IV <-> (Fe²⁺ or Mg²⁺)^VI + (Si⁴⁺)^IV], illitic substitution and direct (Fe³⁺)^VI <-> (Al³⁺)^VI substitution. But, compositional variation in white mica from a depth of -779 ML was caused by phengitic or Tschermark substitution [(Al³⁺)^VI + (Al³⁺)^IV <-> (Fe²⁺ or Mg²⁺)^VI + (Si⁴⁺)^IV] and direct (Fe³⁺)^VI <-> (Al³⁺)^VI substitution.

• Korean Journal of Mineralogy and Petrology
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• v.33 no.3
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• pp.195-214
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• 2020

The Samgwang Au-Ag deposit has been one of the largest deposits in Korea. The deposit consists of eight lens-shaped quartz veins which filled fractures along fault zones in Precambrian metasedimentary rock, which feature suggest that it is an orogenic-type deposit. The Ti-bearing minerals occur in wallrock (titanite, ilmenite and rutile) and laminated quartz vein (rutile). They occur minerals including biotite, muscovite, chlorite, white mica, monazite, zircon, apatite in wallrock and white mica, chlorite, arsenopyrite in laminated quartz vein. Chemical composition of titanite has maximum vaules of 3.94 wt.% (Al₂O₃), 0.49 wt.% (FeO), 0.52 wt.% (Nb₂O₅), 0.46 wt.% (Y₂O₃) and 0.43 wt.% (V₂O₅). Titanite with 0.06~0.14 (Fe/Al ratio) and 0.06~0.15 (X_Al (=Al/Al+Fe³⁺+Ti)) corresponds with metamorphic origin and low-Al variety. Chemical composition of ilmenite has maximum values of 0.07 wt.% (ZrO₂), 0.12 wt.% (HfO₂), 0.26 wt.% (Nb₂O₅), 0.04 wt.% (Sb₂O₅), 0.13 wt.% (Ta₂O₅), 2.62 wt.% (As₂O₅), 0.29 wt.% (V₂O₅), 0.12 wt.% (Al₂O₃) and 1.59 wt.% (ZnO). Chemical composition of rutile in wallrock and laminated quartz vein has maximum values of 0.35 wt.%, 0.65 wt.% (HfO₂), 2.52 wt.%, 0.19 wt.% (WO₃), 1.28 wt.%, 1.71 wt.% (Nb₂O₃), 0.03 wt.%, 0.07 wt.% (Sb₂O₃), 0.28 wt.%, 0.21 wt.% (As₂O₅), 0.68 wt.%, 0.70 wt.% (V₂O₃), 0.48 wt.%, 0.59 wt.% (Cr₂O₃), 0.70 wt.%, 1.90 wt.% (Al₂O₃) and 4.76 wt.%, 3.17 wt.% (FeO), respectively. Rutile in laminated quartz vein is higher contents (HfO₂, Nb₂O₃, As₂O₅, Cr₂O₃, Al₂O₃ and FeO) and lower content (WO₃) than rutile in wallrock. The substitutions of rutile in wallrock and laminated quatz vein are as followed : rutile in wallrock [(Fe³⁺, Al³⁺, Cr³⁺) + Hf⁴⁺ + (W⁵⁺, As⁵⁺, Nb⁵⁺) ⟵⟶ 2Ti⁴⁺ + V⁴⁺, 2Fe²⁺ + (Al³⁺, Cr³⁺) + Hf⁴⁺ + (W⁵⁺, As⁵⁺, Nb⁵⁺) ⟵⟶ 2Ti⁴⁺ + 2V⁴⁺], rutile in laminated quartz vein [(Fe³⁺, Al³⁺) + As⁵⁺ ⟵⟶ Ti⁴⁺ + V⁴⁺, (Fe³⁺, Al³⁺) + As⁵⁺ ⟵⟶ Ti⁴⁺ + Hf⁴⁺, 4(Fe³⁺, Al³⁺) ⟵⟶ Ti⁴⁺ + (W⁵⁺, Nb⁵⁺) + Cr³⁺], respectively. Based on these data, titanite, ilmenite and rutile in wallrock were formed by resolution and reconcentration of cations (W⁵⁺, Nb⁵⁺, As⁵⁺, Hf⁴⁺, V⁴⁺, Cr³⁺, Al³⁺, Fe³⁺, Fe²⁺) in minerals of wallrock during regional metamorphism. And then rutile in laminated quartz vein was formed by reconcentration of cations (Nb⁵⁺, As⁵⁺, Hf⁴⁺, Cr³⁺, Al³⁺, Fe³⁺, Fe²⁺) in alteration minerals (white mica, chlorite) and Ti-bearing minerals reaction between hydrothermal fluid originated during ductile shear and Ti-bearing minerals (titanite, ilmenite and rutile) in wallrock.

• Journal of Intelligence and Information Systems
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• v.23 no.2
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• pp.107-122
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• 2017

Volatility in the stock market returns is a measure of investment risk. It plays a central role in portfolio optimization, asset pricing and risk management as well as most theoretical financial models. Engle(1982) presented a pioneering paper on the stock market volatility that explains the time-variant characteristics embedded in the stock market return volatility. His model, Autoregressive Conditional Heteroscedasticity (ARCH), was generalized by Bollerslev(1986) as GARCH models. Empirical studies have shown that GARCH models describes well the fat-tailed return distributions and volatility clustering phenomenon appearing in stock prices. The parameters of the GARCH models are generally estimated by the maximum likelihood estimation (MLE) based on the standard normal density. But, since 1987 Black Monday, the stock market prices have become very complex and shown a lot of noisy terms. Recent studies start to apply artificial intelligent approach in estimating the GARCH parameters as a substitute for the MLE. The paper presents SVR-based GARCH process and compares with MLE-based GARCH process to estimate the parameters of GARCH models which are known to well forecast stock market volatility. Kernel functions used in SVR estimation process are linear, polynomial and radial. We analyzed the suggested models with KOSPI 200 Index. This index is constituted by 200 blue chip stocks listed in the Korea Exchange. We sampled KOSPI 200 daily closing values from 2010 to 2015. Sample observations are 1487 days. We used 1187 days to train the suggested GARCH models and the remaining 300 days were used as testing data. First, symmetric and asymmetric GARCH models are estimated by MLE. We forecasted KOSPI 200 Index return volatility and the statistical metric MSE shows better results for the asymmetric GARCH models such as E-GARCH or GJR-GARCH. This is consistent with the documented non-normal return distribution characteristics with fat-tail and leptokurtosis. Compared with MLE estimation process, SVR-based GARCH models outperform the MLE methodology in KOSPI 200 Index return volatility forecasting. Polynomial kernel function shows exceptionally lower forecasting accuracy. We suggested Intelligent Volatility Trading System (IVTS) that utilizes the forecasted volatility results. IVTS entry rules are as follows. If forecasted tomorrow volatility will increase then buy volatility today. If forecasted tomorrow volatility will decrease then sell volatility today. If forecasted volatility direction does not change we hold the existing buy or sell positions. IVTS is assumed to buy and sell historical volatility values. This is somewhat unreal because we cannot trade historical volatility values themselves. But our simulation results are meaningful since the Korea Exchange introduced volatility futures contract that traders can trade since November 2014. The trading systems with SVR-based GARCH models show higher returns than MLE-based GARCH in the testing period. And trading profitable percentages of MLE-based GARCH IVTS models range from 47.5% to 50.0%, trading profitable percentages of SVR-based GARCH IVTS models range from 51.8% to 59.7%. MLE-based symmetric S-GARCH shows +150.2% return and SVR-based symmetric S-GARCH shows +526.4% return. MLE-based asymmetric E-GARCH shows -72% return and SVR-based asymmetric E-GARCH shows +245.6% return. MLE-based asymmetric GJR-GARCH shows -98.7% return and SVR-based asymmetric GJR-GARCH shows +126.3% return. Linear kernel function shows higher trading returns than radial kernel function. Best performance of SVR-based IVTS is +526.4% and that of MLE-based IVTS is +150.2%. SVR-based GARCH IVTS shows higher trading frequency. This study has some limitations. Our models are solely based on SVR. Other artificial intelligence models are needed to search for better performance. We do not consider costs incurred in the trading process including brokerage commissions and slippage costs. IVTS trading performance is unreal since we use historical volatility values as trading objects. The exact forecasting of stock market volatility is essential in the real trading as well as asset pricing models. Further studies on other machine learning-based GARCH models can give better information for the stock market investors.

• Journal of Wetlands Research
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• v.18 no.4
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• pp.474-480
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• 2016

In this study, formation background of biodiversity and its changes in the process of geologic history, and effects of climate change on biodiversity and human were discussed and the alternatives to reduce the effects of climate change were suggested. Biodiversity is 'the variety of life' and refers collectively to variation at all levels of biological organization. That is, biodiversity encompasses the genes, species and ecosystems and their interactions. It provides the basis for ecosystems and the services on which all people fundamentally depend. Nevertheless, today, biodiversity is increasingly threatened, usually as the result of human activity. Diverse organisms on earth, which are estimated as 10 to 30 million species, are the result of adaptation and evolution to various environments through long history of four billion years since the birth of life. Countlessly many organisms composing biodiversity have specific characteristics, respectively and are interrelated with each other through diverse relationship. Environment of the earth, on which we live, has also created for long years through extensive relationship and interaction of those organisms. We mankind also live through interrelationship with the other organisms as an organism. The man cannot lives without the other organisms around him. Even though so, human beings accelerate mean extinction rate about 1,000 times compared with that of the past for recent several years. We have to conserve biodiversity for plentiful life of our future generation and are responsible for sustainable use of biodiversity. Korea has achieved faster economic growth than any other countries in the world. On the other hand, Korea had hold originally rich biodiversity as it is not only a peninsula country stretched lengthily from north to south but also three sides are surrounded by sea. But they disappeared increasingly in the process of fast economic growth. Korean people have created specific Korean culture by coexistence with nature through a long history of agriculture, forestry, and fishery. But in recent years, the relationship between Korean and nature became far in the processes of introduction of western culture and development of science and technology and specific natural feature born from harmonious combination between nature and culture disappears more and more. Population of Korea is expected to be reduced as contrasted with world population growing continuously. At this time, we need to restore biodiversity damaged in the processes of rapid population growth and economic development in concert with recovery of natural ecosystem due to population decrease. There were grand extinction events of five times since the birth of life on the earth. Modern extinction is very rapid and human activity is major causal factor. In these respects, it is distinguished from the past one. Climate change is real. Biodiversity is very vulnerable to climate change. If organisms did not find a survival method such as 'adaptation through evolution', 'movement to the other place where they can exist', and so on in the changed environment, they would extinct. In this respect, if climate change is continued, biodiversity should be damaged greatly. Furthermore, climate change would also influence on human life and socio-economic environment through change of biodiversity. Therefore, we need to grasp the effects that climate change influences on biodiversity more actively and further to prepare the alternatives to reduce the damage. Change of phenology, change of distribution range including vegetation shift, disharmony of interaction among organisms, reduction of reproduction and growth rates due to odd food chain, degradation of coral reef, and so on are emerged as the effects of climate change on biodiversity. Expansion of infectious disease, reduction of food production, change of cultivation range of crops, change of fishing ground and time, and so on appear as the effects on human. To solve climate change problem, first of all, we need to mitigate climate change by reducing discharge of warming gases. But even though we now stop discharge of warming gases, climate change is expected to be continued for the time being. In this respect, preparing adaptive strategy of climate change can be more realistic. Continuous monitoring to observe the effects of climate change on biodiversity and establishment of monitoring system have to be preceded over all others. Insurance of diverse ecological spaces where biodiversity can establish, assisted migration, and establishment of horizontal network from south to north and vertical one from lowland to upland ecological networks could be recommended as the alternatives to aid adaptation of biodiversity to the changing climate.

• Journal of Global Scholars of Marketing Science
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• v.18 no.3
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• pp.89-114
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• 2008

Most of the extant studies on communication effects have been devoted to the typical issue, "what types of communication activities are more effective for brand awareness or brand attitudes?" However, little research has addressed another question on communication decisions, "what makes communication activities less effective?" Our study focuses on factors negatively influenced on the efficiency of communication activities, especially of Advertising. Some studies have introduced concepts closely related to our topic such as consumer confusion, brand confusion, or belief confusion. Studies on product belief confusion have found some factors misleading consumers to misunderstand the physical features of products. Studies on brand confusion have uncovered factors making consumers confused on brand names. Studies on advertising confusion have tested the effects of ad models' employed by many other firms for different products on communication efficiency. We address a new concept, Ad noises, which are any factors interfering with consumers exposed to a particular advertisement in understanding messages provided by advertisements. The objective of this study is to understand the effects of ad noises caused by ad models on brand awareness and brand attitude. There are many different types of AD noises. Particularly, we study the effects of AD noises generated from ad model selection decision. Many companies want to employ celebrities as AD models while the number of celebrities who command a high degree of public and media attention are limited. Inevitably, several firms have been adopting the same celebrities as their AD models for different products. If the same AD model is adopted for TV commercials for different products, consumers exposed to those TV commercials are likely to fail to be aware of the target brand due to interference of TV commercials, for other products, employing the same AD model. This is an ad noise caused by employing ad models who have been exposed to consumers in other advertisements, which is the first type of ad noises studied in this research. Another type of AD noises is related to the decision of AD model replacement for the same product advertising. Firms sometimes launch another TV commercial for the same products. Some firms employ the same AD model for the new TV commercial for the same product and other firms employ new AD models for the new TV commercials for the same product. The typical problem with the replacement of AD models is the possibility of interfering with consumers in understanding messages of the TV commercial due to the dissimilarity of the old and new AD models. We studied the effects of these two types of ad noises, which are the typical factors influencing on the effect of communication: (1) ad noises caused by employing ad models who have been exposed to consumers in other advertisements and (2) ad noises caused by changing ad models with different images for same products. First, we measure the negative influence of AD noises on brand awareness and attitudes, in order to provide the importance of studying AD noises. Furthermore, our study unveiled the mediating conditions(variables) which can increase or decrease the effects of ad noises on brand awareness and attitudes. We study the effects of three mediating variables for ad noises caused by employing ad models who have been exposed to consumers in other advertisements: (1) the fit between product image and AD model image, (2) similarity between AD model images in multiple TV commercials employing the same AD model, and (3) similarity between products of which TV commercial employed the same AD model. We analyze the effects of another three mediating variables for ad noises caused by changing ad models with different images for same products: (1) the fit of old and new AD models for the same product, (2) similarity between AD model images in old and new TV commercials for the same product, and (3) concept similarity between old and new TV commercials for the same product. We summarized the empirical results from a field survey as follows. The employment of ad models who have been used in advertisements for other products has negative effects on both brand awareness and attitudes. our empirical study shows that it is possible to reduce the negative effects of ad models used for other products by choosing ad models whose images are relevant to the images of target products for the advertisement, by requiring ad models of images which are different from those of ad models in other advertisements, or by choosing ad models who have been shown in advertisements for other products which are not similar to the target product. The change of ad models for the same product advertisement can positively influence on brand awareness but positively on brand attitudes. Furthermore, the effects of ad model change can be weakened or strengthened depending on the relevancy of new ad models, the similarity of previous and current ad models, and the consistency of the previous and current ad messages.

• Journal of Intelligence and Information Systems
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• v.18 no.4
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• pp.19-42
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• 2012

Consumer consumption patterns are shifting rapidly as buyers migrate from offline markets to e-commerce routes, such as shopping channels on TV and internet shopping malls. In the offline markets consumers go shopping, see the shopping items, and choose from them. Recently consumers tend towards buying at shopping sites free from time and place. However, as e-commerce markets continue to expand, customers are complaining that it is becoming a bigger hassle to shop online. In the online shopping, shoppers have very limited information on the products. The delivered products can be different from what they have wanted. This case results to purchase cancellation. Because these things happen frequently, they are likely to refer to the consumer reviews and companies should be concerned about consumer's voice. E-commerce is a very important marketing tool for suppliers. It can recommend products to customers and connect them directly with suppliers with just a click of a button. The recommender system is being studied in various ways. Some of the more prominent ones include recommendation based on best-seller and demographics, contents filtering, and collaborative filtering. However, these systems all share two weaknesses : they cannot recommend products to consumers on a personal level, and they cannot recommend products to new consumers with no buying history. To fix these problems, we can use the information which has been collected from the questionnaires about their demographics and preference ratings. But, consumers feel these questionnaires are a burden and are unlikely to provide correct information. This study investigates combining collaborative filtering with the centrality of social network analysis. This centrality measure provides the information to infer the preference of new consumers from the shopping history of existing and previous ones. While the past researches had focused on the existing consumers with similar shopping patterns, this study tried to improve the accuracy of recommendation with all shopping information, which included not only similar shopping patterns but also dissimilar ones. Data used in this study, Movie Lens' data, was made by Group Lens research Project Team at University of Minnesota to recommend movies with a collaborative filtering technique. This data was built from the questionnaires of 943 respondents which gave the information on the preference ratings on 1,684 movies. Total data of 100,000 was organized by time, with initial data of 50,000 being existing customers and the latter 50,000 being new customers. The proposed recommender system consists of three systems : [+] group recommender system, [-] group recommender system, and integrated recommender system. [+] group recommender system looks at customers with similar buying patterns as 'neighbors', whereas [-] group recommender system looks at customers with opposite buying patterns as 'contraries'. Integrated recommender system uses both of the aforementioned recommender systems to recommend movies that both recommender systems pick. The study of three systems allows us to find the most suitable recommender system that will optimize accuracy and customer satisfaction. Our analysis showed that integrated recommender system is the best solution among the three systems studied, followed by [-] group recommended system and [+] group recommender system. This result conforms to the intuition that the accuracy of recommendation can be improved using all the relevant information. We provided contour maps and graphs to easily compare the accuracy of each recommender system. Although we saw improvement on accuracy with the integrated recommender system, we must remember that this research is based on static data with no live customers. In other words, consumers did not see the movies actually recommended from the system. Also, this recommendation system may not work well with products other than movies. Thus, it is important to note that recommendation systems need particular calibration for specific product/customer types.

• Journal of Intelligence and Information Systems
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• v.24 no.1
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• pp.227-252
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• 2018

The evolution of instant communication has mirrored the development of the Internet and messenger applications are among the most representative manifestations of instant communication technologies. In messenger applications, senders use emoticons to supplement the emotions conveyed in the text of their messages. The fact that communication via messenger applications is not face-to-face makes it difficult for senders to communicate their emotions to message recipients. Emoticons have long been used as symbols that indicate the moods of speakers. However, at present, emoticon-use is evolving into a means of conveying the psychological states of consumers who want to express individual characteristics and personality quirks while communicating their emotions to others. The fact that companies like KakaoTalk, Line, Apple, etc. have begun conducting emoticon business and sales of related content are expected to gradually increase testifies to the significance of this phenomenon. Nevertheless, despite the development of emoticons themselves and the growth of the emoticon market, no suitable emoticon recommendation system has yet been developed. Even KakaoTalk, a messenger application that commands more than 90% of domestic market share in South Korea, just grouped in to popularity, most recent, or brief category. This means consumers face the inconvenience of constantly scrolling around to locate the emoticons they want. The creation of an emoticon recommendation system would improve consumer convenience and satisfaction and increase the sales revenue of companies the sell emoticons. To recommend appropriate emoticons, it is necessary to quantify the emotions that the consumer sees and emotions. Such quantification will enable us to analyze the characteristics and emotions felt by consumers who used similar emoticons, which, in turn, will facilitate our emoticon recommendations for consumers. One way to quantify emoticons use is metadata-ization. Metadata-ization is a means of structuring or organizing unstructured and semi-structured data to extract meaning. By structuring unstructured emoticon data through metadata-ization, we can easily classify emoticons based on the emotions consumers want to express. To determine emoticons' precise emotions, we had to consider sub-detail expressions-not only the seven common emotional adjectives but also the metaphorical expressions that appear only in South Korean proved by previous studies related to emotion focusing on the emoticon's characteristics. We therefore collected the sub-detail expressions of emotion based on the "Shape", "Color" and "Adumbration". Moreover, to design a highly accurate recommendation system, we considered both emotion-technical indexes and emoticon-emotional indexes. We then identified 14 features of emoticon-technical indexes and selected 36 emotional adjectives. The 36 emotional adjectives consisted of contrasting adjectives, which we reduced to 18, and we measured the 18 emotional adjectives using 40 emoticon sets randomly selected from the top-ranked emoticons in the KakaoTalk shop. We surveyed 277 consumers in their mid-twenties who had experience purchasing emoticons; we recruited them online and asked them to evaluate five different emoticon sets. After data acquisition, we conducted a factor analysis of emoticon-emotional factors. We extracted four factors that we named "Comic", Softness", "Modernity" and "Transparency". We analyzed both the relationship between indexes and consumer attitude and the relationship between emoticon-technical indexes and emoticon-emotional factors. Through this process, we confirmed that the emoticon-technical indexes did not directly affect consumer attitudes but had a mediating effect on consumer attitudes through emoticon-emotional factors. The results of the analysis revealed the mechanism consumers use to evaluate emoticons; the results also showed that consumers' emoticon-technical indexes affected emoticon-emotional factors and that the emoticon-emotional factors affected consumer satisfaction. We therefore designed the emoticon recommendation system using only four emoticon-emotional factors; we created a recommendation method to calculate the Euclidean distance from each factors' emotion. In an attempt to increase the accuracy of the emoticon recommendation system, we compared the emotional patterns of selected emoticons with the recommended emoticons. The emotional patterns corresponded in principle. We verified the emoticon recommendation system by testing prediction accuracy; the predictions were 81.02% accurate in the first result, 76.64% accurate in the second, and 81.63% accurate in the third. This study developed a methodology that can be used in various fields academically and practically. We expect that the novel emoticon recommendation system we designed will increase emoticon sales for companies who conduct business in this domain and make consumer experiences more convenient. In addition, this study served as an important first step in the development of an intelligent emoticon recommendation system. The emotional factors proposed in this study could be collected in an emotional library that could serve as an emotion index for evaluation when new emoticons are released. Moreover, by combining the accumulated emotional library with company sales data, sales information, and consumer data, companies could develop hybrid recommendation systems that would bolster convenience for consumers and serve as intellectual assets that companies could strategically deploy.

• Korean Journal of Veterinary Research
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• v.9 no.1
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• pp.23-62
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• 1969

Throughout the studies the following experimental results were obtained and are summarized: 1. Multiplication of agents in primary cell cultures of both GF classical and CR-64 acute strain of Marek's disease infected chicken kidneys was accompanied by the formation of distinct transformed cell foci. This characteristic nature of cell transformation was passaged regularly by addition of dispersed cell from infected cultures to normal chicken kidney cell cultures, and also transferred was the nature of cell transformation to normal chick-embryo liver and neuroglial cell cultures. No cytopathic changes were noticed in inoculated chick-embryo fibroblast cultures. 2. The same cytopathic effects were noticed in normal kidney cell monolayers after the inoculation of whole blood and huffy coat cells derived from both forms of Marek's disease infected chickens. In these cases, however, the number of transformed cell foci appearing was far less than that of uninoculated monolayers prepared directly from the kidneys of Marek's disease infected chickens. 3. The change in cell culture IS regarded as a specific cell transformation focus induced by an oncogenic virus rather than it plaque in slowly progressing cytopathic effect by non-oncogenic viruses, and it is quite similar to RSV focus in chick-embryo fibroblasts in many respects. 4. The infective agent (cell transformable) were extremely cell-associated and could not be separated in an infective state from cells under the experimental conditions. 5. The focus assay of these agents was valid as shown by the high degree of linear correlation (r=0.97 and 0.99) between the relative infected cell concentration (in inoculum) and the transformed cell foci counted. 6. No differences were observed between the GF classical strain and the CR-64 acute strain of Marek's disease as far as cell culture behavior. 7. Characterization of the isolates by physical and chemical treatments, development of internuclear inclusions in Infected cells, and nucleic acid typing by differential stainings and cytochemical treatments indicated that the natures of these cell transformation agents closely resemble to those described fer the group B herpes viruses. 8. Susceptible chicks inoculated with infected kidney tissue culture cells developed specific lesions of Marek's disease, and in a case of prolonged observation after inoculation (5 weeks) the birds developed clinical symptoms and gross lesions of Marek's disease. Kidney cell cultures prepared from those inoculated birds and sacrificed showed a superior recovery of cell transformation property by formation of distinct foci. 9. Electron microscopic study of infected kidney culture cells (GF agent) by negative staining technique revealed virus particles furnishing the properties of herpes viruses. The particle was measured about $100m{\mu}$ and, so far, no herpes virus envelop has been seen from these preparations. 10. No relationship of both isolates to avian leukosis/sarcoma group viruses and PPLO was observed.