• Journal of Family Resource Management and Policy Review
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• v.25 no.3
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• pp.87-102
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• 2021

Child abuse and neglect are recently increasing in Korea, and although the government has actively improved the child protection system, the number of abused children and the rate of cases judged as abuse have continuously risen. Given that 75% of child abusers are parents, child abuse and neglect are expected to recur. To prevent such a recurrence, various intervention programs for abused children and their parents are required. The purpose of this study were to design a recovery support service process and investigate the effectiveness of pilot program for families of origin, including neglected(protected) children, to improve the system by which these programs are operated, and formulate policy alternatives that reinforce "family preservation" principles. The pilot program was implemented from June to November 2020 in 4-local healthy family support center. The number of program participants and the frequency of participation in each other differed, because of the difference in number of confirmed coronavirus cases in each region and the requirement for social distancing. Through the program, a community-based service process was developed for neglected(protected) children and their parents, and cooperative networks between related facilities and institutions were established. The study formulated the following recommendations: First, a cooperation system among government departments mandated to provide different services to neglected(protected) children is needed. Second, wider and various channels through which abused children can avail of protective services should be developed within communities. Third, more stable environments for program operation should be cultivated, and cooperative partnerships should be sought for knowledge sharing among relevant government departments. Another necessary measure is for a center to develop its own business model, in which the duplication of services provided by involved organizations is avoided. Finally, clear guidelines, administrative standards, and specific plans for program operation should be arranged. Also regional characteristics are maintained, but services should be standardized.

• Journal of The Korean Association For Science Education
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• v.41 no.4
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• pp.339-358
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• 2021

This study explores the agency of a student leader, expressed through efforts to distribute power and encourage participation in elementary scientific modeling classes. The study also analyzes the context in which the leader's agency was expressed and the context in which the development of a collective agency was constrained. The participants were 22 fifth-grade students. The leader's agency was analyzed by examining his words and actions. As a result, at the outset of the study, the leader had the most power, performing all the activities as the sole authority in a non-cooperative participation pattern. However, with reflection and help from the researcher, the leader recognized the problem and facilitated the participation of other students. He developed an identity as a teacher and demonstrated the agency. The leader's agentic behaviors can be categorized into three aspects. First, regarding the cognitive aspect, the leader helped other students participate in modeling by sharing his knowledge. Second, regarding the normative aspect, he made rules to give all students an equal voice. Third, regarding the emotional aspect, the leader acknowledged the contribution of the students, increasing their confidence. The leader's agency temporarily helped the group to overcome the student hierarchy, facilitating a cooperative participation pattern. However, the development of a collective agency was constrained. The power of the leader was partially redistributed, and the other students did not position themselves as equal to the leader. To support the leader's agency to develop into a collective agency, it is necessary to redistribute the power of the leader more equally and to change the recognition of students.

• The Korean Journal of Archival Studies
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• no.8
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• pp.137-180
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• 2003

The term 'Business Archives' is not familiar with us in our society. Some cases can be found that materials are collected for publishing the history of a firm on commemoration of some decades of its foundation. However, the appropriate management of these collected materials doesn't seem to be followed in most of companies. The Records and archives management is inevitable in order to maximize the utility of Information and knowledge in the business world. The interest in records management has been grown, especially in the fields of business management and information technology. However, the importance of business archives hasn't been conceived yet. And also no attention has been paid to the business archives as social resources and the responsibility of the society as a whole for their preservation. The company archives doesn't have a long history in Germany although the archives of the nation, the aristocracy, communes and churches have a long tradition. However the company archives of Krupps which was established in 1905, is regarded as the first business archives in the world, It means that Germany has taken a key role to lead the culture of business archives. This paper focuses on the process of the establishment of business archives in Germany and its characteristics. The business archives in Germany can be categorized in three types: company archives, regional business archives and branch archives. It must be noted here that each type of these was generated in the context of the accumulation of the social resources and its effective use. A company archives is established by an individual company for the preservation of and use of the archives that originated in the company. The holdings in the company archives can be used as materials for decision making of policies, reporting, advertising, training of employees etc. They function not only as sources inside the company, but also as raw sources for the scholars, contributing to the study of the social-economic history. Some archives of German companies are known as a center of research. A regional business archives manages materials which originated m commerce chambers, associations and companies in a certain region. There are 6 regional business archives in Germany. They collect business archives which aren't kept in a proper way or are under pressure of damage in the region for which they are responsible. They are also open to the public offering the sources for the study of economic history, social history like company archives, so that they also play a central role as a research center. Branch business archives appeared relatively late in Germany. The first one is established in Bochum in 1969. Its general duties and goals are almost similar with ones of other two types of archives. It has differences in two aspects. One is that the responsibility of the branch business archives covers all the country, while regional business archives collects archives in a particular region. The other is that a branch business archives collects materials from a single industry. For example, the holdings of Bochum archives are related with the mining industry. The mining industry-specialized Bochum archives is run as an organization in combination with a museum, which is called as German mine museum, so that it plays a role as a cultural center with the functions of exhibition and research. The three types of German business archives have their own functions but they are also closely related each other under the German Association of Business Archivists. They are sharing aims to preserve primary materials with historical values in the field of economy and also contribute to keeping the archives as a social resources by having feed back with the public, which leads the archives to be a center of information and research. The German case shows that business archives in a society should be preserved not only for the interest of the companies, but also for the utilities of social resources. It also shows us how business archives could be preserved as a social resource. It is expected that some studies which approach more deeply on this topic will be followed based on the considerations from the German case.

• Korean Association of Arts Management
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• no.58
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• pp.5-47
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• 2021

This paper is a story about five middle-aged men in their 50s who suddenly began their photographic activities as they reached middle age. In the perspective of Borudieu's cultural capital theory, this study observes five men in their 50s by implementing in-depth interviews about the motivation behind taking photographs, the experience of photography activities, and the rewards of these activities. The theory has undergone a theoretical revision with the criticism that factors other than the class can be influential. Based on these ideas, I have proceeded my study by preferentially grasping the notion of the 'field' in accordance with the specific history of Korean society. Therefore, this study sought to more specifically understand the various photographic activities of middle-class men in their 50s by referring Coskuner-Balli and Thompson's argument(2013), which revised 2018's cultural captial theory and proposed the concept of 'subordinate cultural capital' and 'leisure capital' who proposed by Backlund, E. A. & Kuentzel, W. F.(2013). As a middle-class men in their 50s, research participants have grown up and worked in a social atmosphere where economic capital is recognized as an individual's ability. However, they are faced with the value that the knowledge and taste towards culture and arts is one's identity. In addition to the subjective deprivation that arises from this situation, the lifespan characteristic of their age that it is on the brink of the old age appeared to have influenced them to put their psychological motivation immediately into practice. Economic capital was the main conversion terms to move form interest to practice, which includes 'time' as a resource as well as money. With the cultural practices being expanded since their creation of photographs, the reason that these expansions can be maintained more actively lies in their identity as 'cultural artist' that is consolidated in new relationships in the sharing of photographic activities. In this way, photographic activities grant a symbolic status of 'a middle-aged man who actively builds and expresses his identity' through the conversion of accumulating cultural capital and the conversion into social capital. Furthermore, the recognized scope of the symbolic capital acquired by the research participants is in the domain of the private life that is family and acquaintance. Especially, they were gaining a great psychological reward from their children's recognition that they are not just a 'breadwinner' but 'dad who cultivates himself with a culture and arts'. Accordingly, by considering that 'generation' other than class can be a meaningful discussion point when understanding Korea society from the perspective of cultural theory, this study is meaningful that a more flexible understanding of cultural theory can give a glimpse into the possibility of a more specific and diverse approach that will arise in the discussion of culture and arts education.

• Journal of The Korean Association For Science Education
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• v.43 no.1
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• pp.1-15
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• 2023

As the social and economic value of living modified organisms (LMOs) increase, so do the potential risks they pose to humans and the environment. Therefore, all laboratories using LMOs must establish an LMO laboratory in accordance with the standards required by regulations. Recently, in high school, LMO-related experimental programs have been developed for their educational effects. Also, in this case, it is necessary to comply with the regulation for LMO laboratories. However, high schools are still unfamiliar with the LMO laboratory, and it is difficult for teachers to manage an LMO laboratory because its implementation applies the same standards to general research institutes. In this study, we used causal chain analysis to discover the difficulties each teacher faced while setting up an LMO laboratory by examining three cases. The difficulties experienced by teachers are as follows: the first problem is "reluctance to set up an LMO laboratory," because of "administrative tasks for laboratory registration" and "difficulty in persuading colleagues." The second problem is a difficulty for teachers to operate LMO laboratory in blind spots, due to "inflexible installation and closure," "medical waste disposal," and "LMO education that does not fit the school context." Through this study, although the difficulty of running an LMO laboratory is caused by a lack of necessity and insufficient consideration of the school context, the more fundamental cause was a lack of collaborative planning between the educational field and the operating institutions. The teachers who participate in this research suggest that "using shared LAB" and "preparing opportunities for knowledge sharing" can be considered as strategies for operating the school's LMO laboratory. We feel that this study will provide a useful reference for teachers or schools planning to build an LMO laboratory.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.17-32
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• 2023

The entrepreneurial activities of college students play a significant role in modern economic and social development, particularly as a solution to the changing economic landscape and youth unemployment issues. Introducing innovative ideas and technologies into the market through entrepreneurship can contribute to sustainable economic growth and social value. Additionally, the entrepreneurial intentions of college students are shaped by various factors, making it crucial to deeply understand and appropriately support these elements. To this end, this study systematically explores the importance and impact of role models through a multiple serial mediation analysis. Through a survey of 300 college students, the study analyzed how two psychological variables, growth mindset and entrepreneurial self-efficacy, mediate the influence of role models on entrepreneurial intentions. The presence and success stories of role models were found to enhance the growth mindset of college students, which in turn boosts their entrepreneurial self-efficacy and ultimately strengthens their entrepreneurial intentions. The analysis revealed that exposure to role models significantly influences the formation of a growth mindset among college students. This mindset fosters a positive attitude towards viewing challenges and failures in entrepreneurship as learning opportunities. Such a mindset further enhances entrepreneurial self-efficacy, thereby strengthening the intention to engage in entrepreneurial activities. This research offers insights by integrating various theories, such as mindset theory and social learning theory, to deeply understand the complex process of forming entrepreneurial intentions. Practically, this study provides important guidelines for the design and implementation of college entrepreneurship education. Utilizing role models can significantly enhance students' entrepreneurial intentions, and educational programs can strengthen students' growth mindset and entrepreneurial self-efficacy by sharing entrepreneurial experiences and knowledge through role models. In conclusion, this study provides a systematic and empirical analysis of the various factors and their complex interactions that impact the entrepreneurial intentions of college students. It confirms that psychological factors like growth mindset and entrepreneurial self-efficacy play a significant role in shaping entrepreneurial intentions, beyond mere information or technical education. This research emphasizes that these psychological factors should be comprehensively considered when developing and implementing policies and programs related to college entrepreneurship education.

• Korean small business review
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• v.31 no.2
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• pp.19-37
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• 2009

The purpose of this research is to explore differences between small and medium-sized companies and large-sized companies in the impact of human resource innovativeness(HRI), learning orientation(LO), and HRI-LO interaction on innovation effect and business performance. Although learning orientation has long been considered as a key factor influencing good performance of a business, little research was devoted to exploring the effect of HRI-LO interaction on innovation effect and business performance. In this study, it is investigated whether there is a synergy effect between innovative human workforce and learning orientation corporate culture, in addition to each by itself, to generate good business performance as well as a success of new innovations in the market. Research hypotheses were as follows, including H1) human resource innovativeness(HRI), learning orientation(LO), and interactions of HRI and LO(HRI-LO interaction) positively affect innovation effect, H2) there is a difference of the effect of HRI, LO, and HRI-LO interaction on innovation effect between large-sized and small-sized companies, H3) HRI, LO, HRI-LO interaction, innovation effect positively affect business performance, and H4) there is a difference of the effect of HRI, LO, HRI-LO interaction, and innovation effect on business performance between large-sized and small-sized companies. Data were obtained from 479 practitioners through a web survey since the web survey is an efficient method to collect a national data at a variety of fields. A single respondent from a company was allowed to participate in the study after checking whether they have more than 5-year work experiences in the company. To check whether a common source bias is existed in the sample, additional data from a convenient sample of 97 companies were gathered through the traditional survey method, and were used to confirm correlations between research variables of the original sample and the additional sample. Data were divided into two groups according to company size, such as 352 small and medium-sized companies with less than 300 employees and 127 large-sized companies with 300 or more employees. Data were analyzed through t-test and regression analyses. HRI which is the innovativeness of human resources in the company was measured with 9 items assessing the innovativenss of practitioners in staff, manager, and executive-level positions. LO is the company's effort to encourage employees' development, sharing, and utilizing of knowledge through consistent learning. LO was measured by 18 items assessing commitment to learning, vision sharing, and open-mindedness. Innovation effect which assesses a success of new products/services in the market, was measured with 3 items. Business performance was measured by respondents' evaluations on profitability, sales increase, market share, and general business performance, compared to other companies in the same field. All items were measured by using 6-point Likert scales. Means of multiple items measuring a construct were used as variables based on acceptable reliability and validity. To reduce multi-collinearity problems generated on the regression analysis of interaction terms, centered data were used for HRI, LO, and Innovation effect on regression analyses. In group comparison, large-sized companies were superior on annual sales, annual net profit, the number of new products/services in the last 3 years, the number of new processes advanced in the last 3 years, and the number of R&D personnel, compared to small and medium-sized companies. Also, large-sized companies indicated a higher level of HRI, LO, HRI-LO interaction, innovation effect and business performance than did small and medium-sized companies. The results indicate that large-sized companies tend to have more innovative human resources and invest more on learning orientation than did small-sized companies, therefore, large-sized companies tend to have more success of a new product/service in the market, generating better business performance. In order to test research hypotheses, a series of multiple-regression analysis was conducted. In the regression analysis examining the impact on innovation effect, important results were generated as : 1) HRI, LO, and HRI-LO affected innovation effect, and 2) company size indicated a moderating effect. Based on the result, the impact of HRI on innovation effect would be greater in small and medium-sized companies than in large-sized companies whereas the impact of LO on innovation effect would be greater in large-sized companies than in small and medium-sized companies. In other words, innovative workforce would be more important in making new products/services that would be successful in the market for small and medium-sized companies than for large-sized companies. Otherwise, learning orientation culture would be more effective in making successful products/services for large-sized companies than for small and medium-sized companies. Based on these results, research hypotheses 1 and 2 were supported. In the analysis of a regression examining the impact on business performance, important results were generated as : 1) innovation effect, LO, and HRI-LO affected business performance, 2) HRI by itself did not have a direct effect on business performance regardless of company size, and 3) company size indicated a moderating effect. Specifically, an effect of the HRI-LO interaction on business performance was stronger in large-sized companies than in small and medium-sized companies. It means that the synergy effect of innovative human resources and learning orientation culture tends to be stronger as company is larger. Referring to these result, research hypothesis 3 was partially supported whereas hypothesis 4 was supported. Based on research results, implications for companies were generated. Regardless of company size, companies need to develop the learning orientation corporate culture as well as human resources' innovativeness together in order to achieve successful development of innovative products and services as well as to improve sales and profits. However, the effectiveness of the HRI-LO interaction would be varied by company size. Specifically, the synergy effect of HRI-LO was stronger to make a success of new products/services in small and medium-sized companies than in large-sized companies. However, the synergy effect of HRI-LO was more effective to increase business performance of large-sized companies than that of small and medium-sized companies. In the case of small and medium-sized companies, business performance was achieved more through the success of new products/services than much directly affected by HRI-LO. The most meaningful result of this study is that the effect of HRI-LO interaction on innovation effect and business performance was confirmed. It was often ignored in the previous research. Also, it was found that the innovativeness of human workforce would not directly influence in generating good business performance, however, innovative human resources would indirectly affect making good business performance by contributing to achieving the development of new products/services that would be successful in the market. These findings would provide valuable managerial implications specifically in regard to the development of corporate culture and education program of small and medium-sized as well as large-sized companies in a variety of fields.

• Proceedings of the Korean DIstribution Association Conference
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• 2005.05a
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• pp.383-405
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• 2005

The traditional market is foremost a regionally positioned place, wherein the market directly represents regional and cultural centered traits while it plays an important role in the circulation of facilities through reciprocal, informative and cultural exchanges while sewing to form local communities. The traditional market in Korea is one of representative retail businesses and premodern marketing techniques by family owned business of less than five members such as product management, purchase method, and marketing patterns etc. Since the 1990s, the appearance of new circulation-type businesses and large discount convenience stores escalated the loss of traditional competitiveness, increased the living standard of customers, changed purchasing patterns, and expanded the ubiquity of the Internet. All of these changes in external circulation circumstances have led the traditional markets to lose their place in the economy. The traditional market should revive on a regional site basis through the formation of a community of regional neighbors and through knowledge-sharing that leads to the creation of wealth. For the purpose of creating a wealth in a place, the following components are necessary: 1) a facility suitable for the spatial place of the present, 2)trust built through exchanges within the changing market environment, which would simultaneously satisfy customer's desires, 3) international bench marking on cases such as regionally centered TCM (England), BID (USA), and TMO (Japan) so that the market unit of store placement transfers from a spot policy to a line policy, 4)conversion of communicative conception through a surface policy approach centered around a macro-region perspective. The budget of the traditional market funding policy was operational between 2001 and 2004, serving as a counter move to solve the problem of the old traditional market through government intervention in regional economies to promote national economic strength. This national treasury funding project was centered on environmental improvement, research corps, and business modernization through the expenditure of 3,853 hundred million won (Korean currency). However, the effectiveness of this project has yet to be to proven through investigation. Furthermore, in promoting this funding support project, a lack of professionalism among merchants in the market led to constant limitations in comprehensive striving strategies, reduced capabilities in middle-and long-term plan setup, and created reductions in voluntary merchant agreement solutions. The traditional market should go beyond mere physical place and ordinary products creative site strategies employing the communicative approach must accompany these strategies to make the market a new regional and spatial living place. Thus, regarding recent paradigm changes and the introduction of region-based site functions into the traditional market, acquiring a conversion of direction into the newly developed project is essential to reinvestigate the traditional market composed of cultural and economic meanings, for the purpose of the research. Excavating social policy demands through the comparative analysis of domestic and international cases as well as innovative and expert management leadership development for NPO or NGO civil entrepreneurs through advanced case research on present promotion methods is extremely important. Discovering the seeds of the cultural contents industry cored around regional resource usages, commercializing regionally reknowned products, and constructing complex cultural living places for regional networks are especially important. In order to accelerate these solutions, a comprehensive and systemized approach research operated within a mentor academy system is required, as research will reveal distinctive traits of the traditional market in the aging society.

• 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.