• Cartoon and Animation Studies
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• s.20
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• pp.75-86
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• 2010

Recently, as the number of female players has increased rapidly, the electronic gaming industry has begun to look at ways to appeal to the largely untapped female market. According to the latest game market investigative report by China Internet Network Information Center (CNNIC), the total number of game players in China increased by 24.8% in 2009, reached 69,130,000 people, and 38.9% of them are female players. This growth in the number of female player is corroborated by a series of investigative reports from IResearch Company in Shanghai, China: from 2003 to 2009, the number of female players grew from 8% to more than 49%. Therefore, no matter how much attention the game production companies have given to male players or how they have ignored the female players before, the companies would be sensible to face up this reality and adjust their marketing policy a bit more. This article analyzes gender preferences in video games which shows that male players are more likely to be attracted to elements of aggression, violence, competition and fast action in electronic game-playing, while female players are drawn to emotional and social aspects of the games such as an understanding of character relationships. The literatures cited indicates that female players also show apparent preference for games with familiar environments, games that allow players to work together, games that have more than one way to win, and games in which characters do not die. It also discusses the characteristics of female-friendly games from the aspect of emotion, pointing out that the simulation games involving pet, dressing-up, and social simulation games are very popular with female players. Because these are the most suitable game types to fill with emotions of love, share, jealousy, superiority, mystery, these are absolutely attractive to female players. Finally, in accord with the above, I propose some principles of designing female-oriented games, including presenting a good-looking leading character, making the story interesting with "live" NPCs(Non-Playing Characters), and finding ways to satisfy female nature instincts such as taking care of others and the inborn interest of classifying and selecting.

• Journal of agricultural medicine and community health
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• v.37 no.4
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• pp.233-245
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• 2012

Objectives: Understanding the predictor of immunization status in childhood is critical issue to improve National Immunization Program (NIP). The aims of this study were to verify the status of up-to-date or complete immunization coverage and to investigate its related factors. Methods: As of 2005, according to local residence registry data, there were 2,188 children who aged 12 to 35 months in Nonsan city, Korea. We conducted household survey for aged 12 to 35 months children, using questionnaires to obtain data on the status of immunization such as BCG, DTaP (diphtheria, tetanus, and pertussis), Polio, and MMR (mump, measles, rubella). Finally 1,472 participated in the survey. The operating definitions used in this study were following; "Complete immunization rate" refers to the rate of children who received all immunization within recommended age intervals fully "on-time"; "The 4:3:1 series" means status of receiving the fourth diphtheria-tetanus-pertussis (4 DTP), the third Polio (3 Polio), and the first measles-mumps-rubella (1 MMR) doses. Multivariate logistic regression analyses were used to determine factors affecting complete vaccination coverage of children. Results: Immunization rates of vaccine based on the vaccination card were from 92.7% to 96.4% except 4th DTaP (79.3%). Complete immunization rate of Korea NIP was 74.0% and that of the 4:3:1 series was 77.1%. A parent as primary caregiver (OR 0.59, 95% CI 0.39-0.87 at 19-35 months of children's age) and first-born children (OR 1.79, 95% CI 1.05-3.03 at 24-35 months of children's age) were significantly related to complete immunization coverage of Korea NIP. And a parent as primary care giver (OR 0.58, 95% CI 0.38-0.88 at 19-35 months of children's age) and first-born children (OR 1.94, 95% CI 1.21-3.14 at 19-35 months, OR 2.23, 95% CI 1.27-3.91 at 24-35 months of children's age) were significantly related to complete immunization rate of 4:3:1 series. Conclusions: Government should take actions to increase complete immunization rate. In particular, intervention on the secondary caregiver and non-first-born children should be needed.

• Journal of the Korean Institute of Landscape Architecture
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• v.44 no.3
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• pp.47-55
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• 2016

RHS is a core organization with huge influences on the expansion of the base for the garden culture and industry. This study aimed to examine the meaning and value of the professional charity's role through the appearance background and developmental process of RHS. The passion for plant collection in the Victorian Age of the $19^{th}$ century became the background of establishing the society. Such background of the times and the root of the society are deeply related to the British civil garden culture. The consideration of the forming process of RHS and the study can be summarized as below. First, the professional introduction of exotic plants by plant hunters was developed into an organization supporting professional plant research through collection, sampling, and records, which led to the development of horticulture techniques, growth of plant nursery businesses and established the foundation of the civil garden culture in the UK. Second, after John Loudon was involved in RHS, inspired by the press editing more practical information contents, middle-class and women became new patrons to gardening. Therefore, the care of gardens became a source of agreeable domestic recreation, especially to the female sex. Third, $19^{th}$ century plant collection and exhibition was seen in the Chelsea Flower Show which a key role beyond the UK garden culture. Fourth, those acts of RHS and modernity in $19^{th}$ developed British middle-class domestic gardens which have the character of the ordinary and national garden style in the UK. Such history and activities of RHS are connected to the national status as a country of gardens, which suggests clues to practical measures and values we should aim for in order to settle citizen-centered garden culture.

• Journal of vocational education research
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• v.36 no.2
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• pp.95-121
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• 2017

The vocational competency development training teacher must complete the training course for the training of vocational competency development training instructor and get the qualification of the vocational competency development training teacher from the Ministry of Employment & Labor with the criteria set by the Presidential Decree. Therefore, it can be said that H_university 's educational performance, which is the only vocational competency development training teacher in Korea and that plays a role of mass production in the labor market, has a great influence on vocational competency development training. The purpose of this study is to identify the problems through the analysis of actual condition of vocational competency development training education based on CIPP model, Furthermore, it was aimed to suggest improvement plan of qualification training education. In order to accomplish the purpose of the research, the present situation of the training course for the vocational competency development training teacher training students was grasped. And We conducted a survey to draw out the improvement plan and utilized the results of 173 copies. We conducted interviews by selecting eight subjects for in-depth analysis and Understand the details of the results of the surveys conducted. As a result of the study, positive responses were obtained from the educational objectives and educational resources in the context factors. On the other hand, there were negative opinions about the curriculum reflecting the learner and social needs. In the input factors, positive opinions were derived from the educational objectives and training requirements. However, there were many negative opinions about the achievement of the learner's educational goals. In addition, there were many negative opinions of online contents education. In the process factors, positive evaluation was high in class related part, learner attendance management, and institutional support. However, negative opinions were drawn on the comprehensive evaluation of qualification training period, and the learner's burden due to lack of learning period appeared to be the main reason. In the factor of calculation, Positive opinions were derived from the applicability of the business curriculum for training courses for training teachers who are in charge of education and training in industry occupations. However, there were negative opinions such as learning time, concentration of learning, and communication of instructors. Based on the results of the study, suggestions for improving the operation of vocational competency training teacher qualification training are as follows. First, it is necessary to flexibly manage the training schedule for the weekly training course for vocational competency development training teachers. Second, it is necessary to seek to improve the online education curriculum centered on consumers. Third, it is necessary to seek access to qualification training for local residents. Fourth, pre - education support for qualified applicants is required. Finally, follow-up care of qualified trainees is necessary.

• Korean Journal of Heritage: History & Science
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• v.54 no.2
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• pp.194-215
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• 2021

Termites are important decomposers in the ecosystem. They are also economically significant structural pests. In this study, we reviewed the developments of termite control and recent research on termite management to provide information on the prevention and control of termites. In Korea, most of the damage to wooden historical buildings is caused by subterranean termites. Reticulitermes speratus kyushuensis is the main species, which is widely found throughout the country. In the early 1900s, inorganic insecticides, such as arsenic dust, were used for termite control. After the synthesis of chlorinated hydrocarbon pesticide in the 1940s, it was widely utilized and demonstrated high termite control efficacy. However, chlorinated hydrocarbon insecticides were later banned, disappearing from markets after reports emerged concerning environmental contamination and toxicity to humans. Therefore, the termite control industry sought a new termiticide; hence many pesticides were utilized for termite control. Organophosphate (1960s), carbamate (1970s), pyrethroid, and insect growth inhibitor (1980s) were newly synthesized and adopted. In the 1990s, the first commercial baits using chitin synthesis inhibitors (CSI) were developed, providing a means to eliminate an entire colony of subterranean termites around a structure. Many studies have been carried out on soil termiticides (liquid termiticides) and CSI baits to increase their efficacy, and different baits such as aboveground bait stations, fluid bait, and high-durability bait were also developed in the 2000s. In addition, the paradigm of termite control has shifted from localized treatments using soil termiticides to area-wide pest management using CSI baits to create termite-free zones and protect buildings over time. Termite infestations in wooden historical buildings in Korea have been reported since 1980, and considerable attention was drawn in the 1990s when several UNESCO world heritages such as the Jongmyo Shrine and the Janggyeong Panjeon Depositories of Haeinsa Temple were infested by subterranean termites. Since then, a survey of termite infestation in wooden architectural heritage has been conducted, and the National Research Institute of Cultural Heritage and Heritage Care Program regularly monitors those properties. Finally, we suggest termite management using primarily CSI baits, selective application of various soil treatments applied to the object, foundation soil treatment, research and development of durable termite baits, application of area-wide programs for wooden-building complexes, application of integrated termite management (ITM), and regular education for owners and managers to prevent and reduce termite damage.

• Journal of the Korean Society of Food Culture
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• v.24 no.3
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• pp.331-337
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• 2009

The principal objective of the present study was to survey the demands of an education program for evaluations of the efficacy of health functional foods. A questionnaire was developed and sent to 2,225 members of the Biofood Network Center. A total of 101 (4.6%) individuals responded, 54.5% of the respondents were male and 45.5% were female; the respondents' occupations (in order of prevalence) were as follows: company worker (48.5%)>researcher (27.7%)>student (13.9%)>professor (5.0%)>pharmacist (2%), and dietitian (2%). The businesses in which the respondents worked were (again in order of prevalence) as follows: research & development (64.4%)>marketing (11.9%)>consultation and education (5.9%)>manufacturing and others (17.9%). 41.6% of the respondents reported experience in businesses relevant to KFDA approval for functional ingredients and health functional foods. The results showed that 63.4% of the respondents had previously been educated about functional foods; the types of education program reported were (in order of prevalence): 'overview and acts of health functional food' (n=49)>'standards and specification for health functional food' (n=41)>'efficacy evaluation-human study' (n=24)>'safety evaluation' (n=21)>'efficacy evaluation-in vivo study' (n=13)>and 'others' (n=10). Respondents preferred off-line education programs (62.4%) to on-line programs (22.8%). The preferred duration of an educational program was '$2{\sim}3$ days: total $14{\sim}24$ hours' (30.7%); thus, short-term programs were favored. The primary requirements of a program, from the perspective of the learner, were as follows (scored on a 7-point scale); 'efficacy evaluation and case study-human study' (5.80 points)>'standards and specification for health functional food' (5.72 points)>safety evaluation' (5.7 points)>'overview and acts of health functional food' (5.67 points) and 'efficacy evaluation methods of health functional food by efficacy (intensive)' (5.67 points). Preference for functionality was as follows; 'body weight & body fat' (21.8%), 'immune function' (18.8%) > 'blood glucose' (10.9%). In summary, the educational demand for 'efficacy evaluation and case study' was highest among the curriculum options provided, and with regard to functionality, 'body weight & body fat', 'immune function' and 'skin care' were considered most important by respondents. These results differed among respondents with different jobs and duties, and this suggests that customized education programs for health functional food should be developed.

• Journal of Intelligence and Information Systems
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• v.26 no.1
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• pp.135-149
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• 2020

Artificial intelligences are changing world. Financial market is also not an exception. Robo-Advisor is actively being developed, making up the weakness of traditional asset allocation methods and replacing the parts that are difficult for the traditional methods. It makes automated investment decisions with artificial intelligence algorithms and is used with various asset allocation models such as mean-variance model, Black-Litterman model and risk parity model. Risk parity model is a typical risk-based asset allocation model which is focused on the volatility of assets. It avoids investment risk structurally. So it has stability in the management of large size fund and it has been widely used in financial field. XGBoost model is a parallel tree-boosting method. It is an optimized gradient boosting model designed to be highly efficient and flexible. It not only makes billions of examples in limited memory environments but is also very fast to learn compared to traditional boosting methods. It is frequently used in various fields of data analysis and has a lot of advantages. So in this study, we propose a new asset allocation model that combines risk parity model and XGBoost machine learning model. This model uses XGBoost to predict the risk of assets and applies the predictive risk to the process of covariance estimation. There are estimated errors between the estimation period and the actual investment period because the optimized asset allocation model estimates the proportion of investments based on historical data. these estimated errors adversely affect the optimized portfolio performance. This study aims to improve the stability and portfolio performance of the model by predicting the volatility of the next investment period and reducing estimated errors of optimized asset allocation model. As a result, it narrows the gap between theory and practice and proposes a more advanced asset allocation model. In this study, we used the Korean stock market price data for a total of 17 years from 2003 to 2019 for the empirical test of the suggested model. The data sets are specifically composed of energy, finance, IT, industrial, material, telecommunication, utility, consumer, health care and staple sectors. We accumulated the value of prediction using moving-window method by 1,000 in-sample and 20 out-of-sample, so we produced a total of 154 rebalancing back-testing results. We analyzed portfolio performance in terms of cumulative rate of return and got a lot of sample data because of long period results. Comparing with traditional risk parity model, this experiment recorded improvements in both cumulative yield and reduction of estimated errors. The total cumulative return is 45.748%, about 5% higher than that of risk parity model and also the estimated errors are reduced in 9 out of 10 industry sectors. The reduction of estimated errors increases stability of the model and makes it easy to apply in practical investment. The results of the experiment showed improvement of portfolio performance by reducing the estimated errors of the optimized asset allocation model. Many financial models and asset allocation models are limited in practical investment because of the most fundamental question of whether the past characteristics of assets will continue into the future in the changing financial market. However, this study not only takes advantage of traditional asset allocation models, but also supplements the limitations of traditional methods and increases stability by predicting the risks of assets with the latest algorithm. There are various studies on parametric estimation methods to reduce the estimated errors in the portfolio optimization. We also suggested a new method to reduce estimated errors in optimized asset allocation model using machine learning. So this study is meaningful in that it proposes an advanced artificial intelligence asset allocation model for the fast-developing financial markets.

• Journal of Global Scholars of Marketing Science
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• v.18 no.1
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• pp.33-58
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• 2008

Previous research has presupposed that the evaluation of consumer who received any recovery after experiencing product failure should be better than the evaluation of consumer who did not receive any recovery. The major purposes of this article are to examine impacts of product defect failures rather than service failures, and to explore effects of recovery on postrecovery product attitudes. First, this article deals with the occurrence of severe and unsevere failure and corresponding service recovery toward tangible products rather than intangible services. Contrary to intangible services, purchase and usage are separable for tangible products. This difference makes it clear that executing an recovery strategy toward tangible products is not plausible right after consumers find out product failures. The consumers may think about backgrounds and causes for the unpleasant events during the time gap between product failure and recovery. The deliberation may dilutes positive effects of recovery efforts. The recovery strategies which are provided to consumers experiencing product failures can be classified into three types. A recovery strategy can be implemented to provide consumers with a new product replacing the old defective product, a complimentary product for free, a discount at the time of the failure incident, or a coupon that can be used on the next visit. This strategy is defined as "a rewarding effort." Meanwhile a product failure may arise in exchange for its benefit. Then the product provider can suggest a detail explanation that the defect is hard to escape since it relates highly to the specific advantage to the product. The strategy may be called as "a strengthening effort." Another possible strategy is to recover negative attitude toward own brand by giving prominence to the disadvantages of a competing brand rather than the advantages of its own brand. The strategy is reflected as "a weakening effort." This paper emphasizes that, in order to confirm its effectiveness, a recovery strategy should be compared to being nothing done in response to the product failure. So the three types of recovery efforts is discussed in comparison to the situation involving no recovery effort. The strengthening strategy is to claim high relatedness of the product failure with another advantage, and expects the two-sidedness to ease consumers' complaints. The weakening strategy is to emphasize non-aversiveness of product failure, even if consumers choose another competitive brand. The two strategies can be effective in restoring to the original state, by providing plausible motives to accept the condition of product failure or by informing consumers of non-responsibility in the failure case. However the two may be less effective strategies than the rewarding strategy, since it tries to take care of the rehabilitation needs of consumers. Especially, the relative effect between the strengthening effort and the weakening effort may differ in terms of the severity of the product failure. A consumer who realizes a highly severe failure is likely to attach importance to the property which caused the failure. This implies that the strengthening effort would be less effective under the condition of high product severity. Meanwhile, the failing property is not diagnostic information in the condition of low failure severity. Consumers would not pay attention to non-diagnostic information, and with which they are not likely to change their attitudes. This implies that the strengthening effort would be more effective under the condition of low product severity. A 2 (product failure severity: high or low) X 4 (recovery strategies: rewarding, strengthening, weakening, or doing nothing) between-subjects design was employed. The particular levels of product failure severity and the types of recovery strategies were determined after a series of expert interviews. The dependent variable was product attitude after the recovery effort was provided. Subjects were 284 consumers who had an experience of cosmetics. Subjects were first given a product failure scenario and were asked to rate the comprehensibility of the failure scenario, the probability of raising complaints against the failure, and the subjective severity of the failure. After a recovery scenario was presented, its comprehensibility and overall evaluation were measured. The subjects assigned to the condition of no recovery effort were exposed to a short news article on the cosmetic industry. Next, subjects answered filler questions: 42 items of the need for cognitive closure and 16 items of need-to-evaluate. In the succeeding page a subject's product attitude was measured on an five-item, six-point scale, and a subject's repurchase intention on an three-item, six-point scale. After demographic variables of age and sex were asked, ten items of the subject's objective knowledge was checked. The results showed that the subjects formed more favorable evaluations after receiving rewarding efforts than after receiving either strengthening or weakening efforts. This is consistent with Hoffman, Kelley, and Rotalsky (1995) in that a tangible service recovery could be more effective that intangible efforts. Strengthening and weakening efforts also were effective compared to no recovery effort. So we found that generally any recovery increased products attitudes. The results hint us that a recovery strategy such as strengthening or weakening efforts, although it does not contain a specific reward, may have an effect on consumers experiencing severe unsatisfaction and strong complaint. Meanwhile, strengthening and weakening efforts were not expected to increase product attitudes under the condition of low severity of product failure. We can conclude that only a physical recovery effort may be recognized favorably as a firm's willingness to recover its fault by consumers experiencing low involvements. Results of the present experiment are explained in terms of the attribution theory. This article has a limitation that it utilized fictitious scenarios. Future research deserves to test a realistic effect of recovery for actual consumers. Recovery involves a direct, firsthand experience of ex-users. Recovery does not apply to non-users. The experience of receiving recovery efforts can be relatively more salient and accessible for the ex-users than for non-users. A recovery effort might be more likely to improve product attitude for the ex-users than for non-users. Also the present experiment did not include consumers who did not have an experience of the products and who did not perceive the occurrence of product failure. For the non-users and the ignorant consumers, the recovery efforts might lead to decreased product attitude and purchase intention. This is because the recovery trials may give an opportunity for them to notice the product failure.

• Journal of Global Scholars of Marketing Science
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• v.19 no.4
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• pp.32-43
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• 2009

Trust has been studied extensively in psychology, economics, and sociology, and its importance has been emphasized not only in marketing, but also in business disciplines in general. Unlike past relationships between suppliers and buyers, which take considerable advantage of private networks and may involve unethical business practices, partnerships between suppliers and buyers are at the core of success for industrial marketing amid intense global competition in the 21st century. A high level of mutual cooperation occurs through an exchange relationship based on trust, which brings long-term benefits, competitive enhancements, and transaction cost reductions, among other benefits, for both buyers and suppliers. In spite of the important role of trust, existing studies in buy-supply situations overlook the role of trust and do not systematically analyze the effect of trust on relational performance. Consequently, an in-depth study that determines the relation of trust to the relational performance between buyers and suppliers of business services is absolutely needed. Business services in this study, which include those supporting the manufacturing industry, are drawing attention as the economic growth engine for the next generation. The Korean government has selected business services as a strategic area for the development of manufacturing sectors. Since the demands for opening business services markets are becoming fiercer, the competitiveness of the business service industry must be promoted now more than ever. The purpose of this study is to investigate the effect of the mutual trust between buyers and suppliers on relational performance. Specifically, this study proposed a theoretical model of trust-relational performance in the transactions of business services and empirically tested the hypotheses delineated from the framework. The study suggests strategic implications based on research findings. Empirical data were collected via multiple methods, including via telephone, mail, and in-person interviews. Sample companies were knowledge-based companies supplying and purchasing business services in Korea. The present study collected data on a dyadic basis. Each pair of sample companies includes a buying company and its corresponding supplying company. Mutual trust was traced for each pair of companies. This study proposes a model of trust-relational performance of buying-supplying for business services. The model consists of trust and its antecedents and consequences. The trust of buyers is classified into trust toward the supplying company and trust toward salespersons. Viewing trust both at the individual level and the organizational level is based on the research of Doney and Cannon (1997). Normally, buyers are the subject of trust, but this study supposes that suppliers are the subjects. Hence, it uniquely focused on the bilateral perspective of perceived risk. In other words, suppliers, like buyers, are the subject of trust since transactions are normally bilateral. From this point of view, suppliers' trust in buyers is as important as buyers' trust in suppliers. The suppliers' trust is influenced by the extent to which it trusts the buying companies and the buyers. This classification of trust using an individual level and an organization level is based on the suggestion of Doney and Cannon (1997). Trust affects the process of supplier selection, which works in a bilateral manner. Suppliers are actively involved in the supplier selection process, working very closely with buyers. In addition, the process is affected by the extent to which each party trusts its partners. The selection process consists of certain steps: recognition, information search, supplier selection, and performance evaluation. As a result of the process, both buyers and suppliers evaluate the performance and take corrective actions on the basis of such outcomes as tangible, intangible, and/or side effects. The measurement of trust used for the present study was developed on the basis of the studies of Mayer, Davis and Schoorman (1995) and Mayer and Davis (1999). Based on their recommendations, the three dimensions of trust used for the study include ability, benevolence, and integrity. The original questions were adjusted to the context of the transactions of business services. For example, a question such as "He/she has professional capabilities" has been changed to "The salesperson showed professional capabilities while we talked about our products." The measurement used for this study differs from those used in previous studies (Rotter 1967; Sullivan and Peterson 1982; Dwyer and Oh 1987). The measurements of the antecedents and consequences of trust used for this study were developed on the basis of Doney and Cannon (1997). The original questions were adjusted to the context of transactions in business services. In particular, questions were developed for both buyers and suppliers to address the following factors: reputation (integrity, customer care, good-will), market standing (company size, market share, positioning in the industry), willingness to customize (product, process, delivery), information sharing (proprietary information, private information), willingness to maintain relationships, perceived professionalism, authority empowerment, buyer-seller similarity, and contact frequency. As a consequential variable of trust, relational performance was measured. Relational performance is classified into tangible effects, intangible effects, and side effects. Tangible effects include financial performance; intangible effects include improvements in relations, network developing, and internal employee satisfaction; side effects include those not included either in the tangible or intangible effects. Three hundred fifty pairs of companies were contacted, and one hundred five pairs of companies responded. After deleting five company pairs because of incomplete responses, one hundred five pairs of companies were used for data analysis. The response ratio of the companies used for data analysis is 30% (105/350), which is above the average response ratio in industrial marketing research. As for the characteristics of the respondent companies, the majority of the companies operate service businesses for both buyers (85.4%) and suppliers (81.8%). The majority of buyers (76%) deal with consumer goods, while the majority of suppliers (70%) deal with industrial goods. This may imply that buyers process the incoming material, parts, and components to produce the finished consumer goods. As indicated by their report of the length of acquaintance with their partners, suppliers appear to have longer business relationships than do buyers. Hypothesis 1 tested the effects of buyer-supplier characteristics on trust. The salesperson's professionalism (t=2.070, p<0.05) and authority empowerment (t=2.328, p<0.05) positively affected buyers' trust toward suppliers. On the other hand, authority empowerment (t=2.192, p<0.05) positively affected supplier trust toward buyers. For both buyers and suppliers, the degree of authority empowerment plays a crucial role in the maintenance of their trust in each other. Hypothesis 2 tested the effects of buyerseller relational characteristics on trust. Buyers tend to trust suppliers, as suppliers make every effort to contact buyers (t=2.212, p<0.05). This tendency has also been shown to be much stronger for suppliers (t=2.591, p<0.01). On the other hand suppliers trust buyers because suppliers perceive buyers as being similar to themselves (t=2.702, p<0.01). This finding confirmed the results of Crosby, Evans, and Cowles (1990), which reported that suppliers and buyers build relationships through regular meetings, either for business or personal matters. Hypothesis 3 tested the effects of trust on perceived risk. It has been found that for both suppliers and buyers the lower is the trust, the higher is the perceived risk (t=-6.621, p<0.01 for buyers; t=-2.437, p<0.05). Interestingly, this tendency has been shown to be much stronger for buyers than for suppliers. One possible explanation for this higher level of perceived risk is that buyers normally perceive higher risks than do suppliers in transactions involving business services. For this reason, it is necessary for suppliers to implement risk reduction strategies for buyers. Hypothesis 4 tested the effects of trust on information searching. It has been found that for both suppliers and buyers, contrary to expectation, trust depends on their partner's reputation (t=2.929, p<0.01 for buyers; t=2.711, p<0.05 for suppliers). This finding shows that suppliers with good reputations tend to be trusted. Prior experience did not show any significant relationship with trust for either buyers or suppliers. Hypothesis 5 tested the effects of trust on supplier/buyer selection. Unlike buyers, suppliers tend to trust buyers when they think that previous transactions with buyers were important (t=2.913 p<0.01). However, this study did not show any significant relationship between source loyalty and the trust of buyers in suppliers. Hypothesis 6 tested the effects of trust on relational performances. For buyers and suppliers, financial performance reportedly improved when they trusted their partners (t=2.301, p<0.05 for buyers; t=3.692, p<0.01 for suppliers). It is interesting that this tendency was much stronger for suppliers than it was for buyers. Similarly, competitiveness was reported to improve when buyers and suppliers trusted their partners (t=3.563, p<0.01 for buyers; t=3.042, p<0.01 for suppliers). For suppliers, efficiency and productivity were reportedly improved when they trusted buyers (t=2.673, p<0.01). Other performance indices showed insignificant relationships with trust. The findings of this study have some strategic implications. First and most importantly, trust-based transactions are beneficial for both suppliers and buyers. As verified in the study, financial performance can be improved through efforts to build and maintain mutual trust. Similarly, competitiveness can be increased through the same kinds of effort. Second, trust-based transactions can facilitate the reduction of perceived risks inherent in the purchasing situation. This finding has implications for both suppliers and buyers. It is generally believed that buyers perceive higher risks in a highly involved purchasing situation. To reduce risks, previous studies have recommended that suppliers devise risk-reducing tactics. Moving beyond these recommendations, the present study uniquely focused on the bilateral perspective of perceived risk. In other words, suppliers are also susceptible to perceived risks, especially when they supply services that require very technical and sophisticated manipulations and maintenance. Consequently, buyers and suppliers must solve problems together in close collaboration. Hence, mutual trust plays a crucial role in the problem-solving process. Third, as found in this study, the more authority a salesperson has, the more he or she can be trusted. This finding is very important with regard to tactics. Building trust is a long-term assignment; however, when mutual trust has not been developed, suppliers can overcome the problems they encounter by empowering a salesperson with the authority to make certain decisions. This finding applies to suppliers as well.