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The Moderating Role of Need for Cognitive Closure and Temporal Self-Construal in Consumer Satisfaction and Repurchase Consistency (만족도와 재구매 간 관계에 있어서 상황적 영향의 조절효과에 관한 연구 - 인지 종결 욕구와 일시적 자아 해석의 조절효과를 중심으로 -)

  • Lee, Min Hoon;Ha, Young Won
    • Asia Marketing Journal
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    • v.11 no.4
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    • pp.95-119
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    • 2010
  • Although there have been many studies regarding the inconsistency between consumers' attitudes and behavior, prior research has almost exclusively focused on the relationship between the attitude before behavior and the initial behavior. Relatively little research has been conducted on consumer satisfaction after purchase and post-purchase behavior. This research proposed that the relationship between satisfaction and post-purchase behavior is moderated by consumers' psychological characteristics such as need for cognitive closure(NCC) and temporal self-construal(SC). The need for cognitive closure refers to individuals' desire for a firm answer to a question and an aversion toward ambiguity. We assumed the need for cognitive closure as a major moderating variable because it is judged that the requirement for cognition clearly varies between when a consumer repurchases the same product and seeks a new alternative. Individuals who tend to end cognition due to time constraints or inappropriate conditions may display considerable cognitive impatience or impulsivity and has a higher probability in repurchasing the same product than a consumer without such limitations. They would avoid further consideration for new alternatives and the likelihood of the repurchase for prior alternative would increase. As hypothesized, significant moderating effect of the NCC was confirmed. This result gives a significant implication for a corporate to establish effective marketing strategies. For a corporate or product brand that has been occupying the market after entering the market earlier, it would be effective to maintain need for cognitive closure high in the existing consumers and thereby preventing the consumers from being interested in the new alternatives. On the other hand, new brands that have just entered the market need to lower the potential consumers' need for cognitive closure so that the consumers can be interested in new alternatives. Along with need for cognitive closure, temporal self-construal also turned out to moderate the satisfaction-repurchase. temporal SC reflects the extent to which individuals view themselves either as an individuated entity or in relation to others. Consumers under a temporarily independent SC would repurchase former alternative again according to their prior satisfaction and evaluation. In contrast, consumers in temporal interdependent SC tended to switch to a new alternative because they value interpersonal relationships above anything else and have a tendency to rely heavily on in-group opinions. When they are confronted with additional opinions, it is highly probable that he/she will choose a new product as an alternative. By proving the impact that temporal self-construal has on repurchasing behavior, this study is providing the marketers with new standards for establishing successful promotional strategies. For example, if the buyer and the user is the same for a product, it would be effective for the seller to convince the consumer to make decision subjectively by encouraging temporal independent self-construal. On the contrary, in the case where the purchase is made by an individual but the product is consumed by a group of people. For example, a housewife is more likely to choose the products or brands that her husband or children prefer rather than the ones that she likes by herself. In that case, emphasizing how the whole family can be satisfied and happy about the product would be effective for promoting repurchase.

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Development of Genetic Selection Marker via Examination of Genome in Bacillus velezensis K10 (Bacillus velezensis K10 유전체 분석을 통한 균주 선발 마커 개발)

  • Sam Woong Kim;Young Jin Kim;Tae Wook Lee;Won-Jae Chi;Woo Young Bang;Tae Wan Kim;Kyu Ho Bang;Sang Wan Gal
    • Journal of Life Science
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    • v.33 no.11
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    • pp.897-904
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    • 2023
  • This study was done to develope genetic markers with the unique characteristics of genes according to the genomic information of Bacillus velezensis K10. B. velezensis K10 maintained a total of 4,159,835 bps, which was found to encode 5,136 open reading frames (orfs). B. velezensis K10 was found to have much more gene migration due to external factors overall compared to standard strain B. velezensis JS25R. In order to discover genetic selection markers, orfs on the genome to be easily induced to gene mutation were surveyed such as recombinase, integrase, transposase, and phage-related genes. As a result of the investigation, 9 candidate markers were isolated with high possibility as genetic selection markers. Although a part in the various origin's areas showed specificities in comparison with homology, the selected markers were all existed in phage-related areas because they were relatively lower homologies in phage-related genes. PCR analysis was done on B. licheniformis K12, B. velezensis K10, B. subtilis, and B. cereus to establish them as inter-species candidate selection markers. As a result, it was confirmed that B. velezensis K10-specific PCR products were formed in a total of 6 primer sets such as BV3 and BV5 to 9. On the other hand, analysis at the subspecies level observed the formation of B. velezensis K10-specific PCR products in 4 primer sets such as BV3, 5, 8, and 9. Among them, since BV5 and BV8 were detected by very specific results, we suggest that BV5 and 8 can be used as B. velezensis K10 gene selection markers at the species and sub-species level.

Factors Influencing Acceptance and Use of New Technologies in the Metaverse Era : Focusing on the Difference between B2C Context and B2B Context (Metaverse 시대의 신기술 사용 의도에 영향을 미치는 요인: B2C 맥락과 B2B 맥락의 차이를 중심으로)

  • Chung, Byoung-gyu
    • Journal of Venture Innovation
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    • v.4 no.3
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    • pp.125-139
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    • 2021
  • As the 4th industrial revolution progresses, new technologies and services are being born, growing, and maturing. Now, beyond the mobile era, the metaverse is being discussed as a new paradigm. Therefore, in this study, in preparation for the metaverse era, we tried to analyze what factors have an important influence when consumers want to use new technologies. In particular, the research was conducted focusing on how the context in which consumers use the technology changes depending on whether they are B2C or B2B. For this, augmented reality (AR) was selected in the B2C context by linking the research subject with the metaverse era, and the smart factory was selected in the B2B context. The research model for the analysis was established by deriving and setting common influence variables by reflecting the characteristics of the research target technology based on the modified extended unified theory of acceptance and use of technology. A survey was conducted for empirical analysis, and 150 AR and 150 smart factory subjects were analyzed. The empirical study results are as follows. The relationship between performance expectancy and intention to use, technology readiness and intention to use was found to have a significant positive (+) effect on both AR and smart factory. On the other hand, it was found that effort expectancy, social influence, and trust had a positive (+) effect on intention to use only in AR. Only in smart factory, facilitating conditions had a significant positive (+) effect on intention to use. It was also found that the perceived risk had a significant negative (-) effect on the intention to use only in the smart factory. The results of this study are academically significant in that we empirically test that influencing factors of technology use varies depending on the context in which it is used by consumers. In practice, it provided an implication of what to focus on first is being implemented.

An Exploratory Study on the Success Factors of Silicon Valley Platform Business Ecosystem: Focusing on IPA Analysis and Qualitative Analysis (실리콘밸리 플랫폼 기업생태계의 성공요인에 관한 탐색적 연구: IPA 분석과 질적 분석을 중심으로)

  • Yeonsung, Jung;Seong Ho, Lee
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.18 no.1
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    • pp.203-223
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    • 2023
  • Recently, the platform industry is rapidly growing in the global market, and competition is intensifying at the same time. Therefore, in order for domestic platform companies to have global competitiveness in the platform market, it is necessary to study the platform business ecosystem and success factors. However, most of the recent platform-related studies have been theoretical studies on the characteristics of platform business status analysis, platform economy, and indirect network externalities of platforms. Therefore, this study comprehensively analyzed the success factors of Silicon Valley's business ecosystem proposed in previous studies, and at the same time analyzed the success factors extracted from stakeholders in the actual Silicon Valley platform business ecosystem. And based on these factors, an IPA analysis was conducted as a way to propose a success plan to stakeholders in the platform business ecosystem. As a result of the analysis, among the success factors collected through previous studies, manpower, capital, and challenge culture were identified as factors that are relatively well maintained in both importance and satisfaction in Silicon Valley. In the end, it can be seen that the creation of an environment and culture in which Silicon Valley can use it to challenge itself based on excellent human resources and abundant capital contributes the most to the success of Silicon Valley's platform business. On the other hand, although it is of high importance to Silicon Valley's platform corporate ecosystem, the factors that show relatively low satisfaction among stakeholders are 'learning and benchmarking among active companies' and 'strong ties and cooperation between members', and it is analyzed that interest and effort are needed to strengthen these factors in the future. Finally, the systems and policies necessary for market autonomous competition, 'business support service industry', 'name value', and 'spin-off start-up' were important factors in literature research, but the importance and satisfaction of these factors were lowered due to changes in the times and environment. This study has academic implications in that it comprehensively analyzes the success factors of Silicon Valley's business ecosystem proposed in previous studies, and at the same time analyzes the success factors extracted from stakeholders in the actual Silicon Valley platform business ecosystem. In addition, there is another academic implications that importance and satisfaction were simultaneously examined through IPA analysis based on these various extracted factors. As for academic implications, it is meaningful in that it contributed to the formation of the domestic platform ecosystem by providing the government and companies with concrete information on the success factors of the platform business ecosystem and the theoretical grounds for the growth of domestic platform businesses.

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Hydrographic Structure Along $131.5^{\circ}W$ in the Northeastern Pacific in July-August 2005 (2005년 7-8월에 관측한 북동태평양 $131.5^{\circ}W$의 해수특성 및 해양구조)

  • Shin, Hong-Ryeol;Hwang, Sang-Chul
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.13 no.3
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    • pp.190-199
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    • 2008
  • To investigate hydrographic structure and characteristics of the tropical ocean in the eastern and the western Pacific, CTD(Conductivity-Temperature-Depth) data along $131^{\circ}W$ and $137^{\circ}-142^{\circ}E$ in July-August 2005 were analyzed. Sea surface temperature along $131.5^{\circ}W$ in summer is highest in the Equatorial Counter Current(ECC) because of the high-temperature water greater than $28^{\circ}C$ moving through the ECC from the western Pacific to the eastern Pacific in spring and summer. Based on the evidence of the presence of low salinity and high dissolved oxygen water in the North Equatorial Current(NEC), we suggested that the low salinity water moved from the Gulf of Panama to the east of Philippine along the North Equatorial Current(NEC). The South Equatorial Current(SEC) had the most saline water from surface to deep layer because the saline water from the Subtropical South Pacific Ocean moved to the north. The salinity minimum layer was observed at 500-1500 m depth along $131.5^{\circ}W$. The water mass with the salinity minimum layer in the north of $5^{\circ}N$ came from the North Pacific Intermediate Water(NPIW) and that in the south of $5^{\circ}N$ came from the Antarctic Intermediate Water(AAIW), which was more saline than the NPIW. Cyclonic cold eddy with a diameter of about 200km was found in $4-6^{\circ}N$. Sea surface temperature along $131.5^{\circ}W$ in the eastern Pacific was lower than along $137^{\circ}-142^{\circ}E$ in the western Pacific; on the other hand, sea surface salinity in the eastern Pacific was higher than in the western Pacific. Subsurface saline water from the Subtropical South Pacific Ocean was less saline in the eastern Pacific than in the western Pacific. Salinity and density(${\sigma}_{\theta}$) of the salinity minimum layer south of $14^{\circ}N$ was higher in the eastern Pacific than in the western Pacific.

Characteristics of Benthic Environment and Polychaete Communities of Gamak Bay, Korea (가막만의 저서환경과 다모류군집 특성)

  • Yoon, Sang-Pil;Jung, Rae-Hong;Kim, Youn-Jung;Kim, Seong-Soo;Lee, Jae-Seong;Park, Jong-Soo;Lee, Won-Chan;Choi, Woo-Jung
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.12 no.4
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    • pp.287-304
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    • 2007
  • This study was carried out to investigate spatio-temporal variations of benthic environment and macrobenthic polychaete communities in Gamak Bay where excessive organic matters from untreated sewage effluents and fish and shellfish farming activities have been accumulated in certain regions. Such environmental variables as sediment composition, organic content, acid volatile sulfide and dissolved oxygen content etc. were measured and polychaete specimens were taken in September 1999 and February 2000. In September 1999, organic contents were up to three times higher in the northwestern part of the bay and the area closed to Gukdong harbor than in the rest of the bay. In particular, benthic environment of the northwestern part of the bay was extremely deteriorated by the occurrence of hypoxia and highly concentrated sulfide. Of 28 stations investigated in summer, 5 stations located in the northwestern part were azoic. In the rest of the stations, a total of 119 polychaete species were sampled with a mean density of 900 $ind./m^2$. While species richness was higher in the entrance and central part of the bay where water exchanges with open sea were relatively active, density was higher in the moderately enriched stations neighbouring Gukdong harbor and fish farms where such potential indicators of organic pollution as Aphelochaeta monilaris, Lumbrineris longifolia were largely dominant. In February 2000, a total of 81 polychaete species appeared with a mean density of 2,802 $ind./m^2$ from 12 stations sampled in winter. Azoic areas were recolonized by Capitella capitata, Pseudopolydora paucibranchiata and Dipolydora socialis which showed maximum density in the innermost station. On the other hand, the rest of the stations were dominated by Euchone alicaudata and Praxillella affinis. The configuration of the stations sampled in summer and winter on the multidimensional scaling plots reflected the position of each stations within the bay in which there were great differences in organic content, sulfide concentration and oxygen content rather than in sediment composition. Therefore, heterogeneities in polychaete community structure in Gamak Bay were primarily influenced by the degree of the disturbance depending on the position within the bay.

An Analysis on the Level of Evidence used in Gifted Elementary Students' Debate (초등과학 영재의 논증활동에서 사용된 증거의 수준 분석)

  • Cho, Hyun-Jun;Yang, Il-Ho;Lee, Hyo-Nyong;Song, Yun-Mi
    • Journal of The Korean Association For Science Education
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    • v.28 no.5
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    • pp.495-505
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    • 2008
  • The purpose of this study was to analyze the level of evidence used in gifted elementary students' argumentation. The subjects were 15, 5th and 6th grade students selected in the Science Education Institute for Gifted Youth in K University. After the argumentation task was given to students 2 weeks ago, the students grouped themselves in the affirmative and negative and took part in a debate for 2 hours. Their argumentation process was observed, recorded and transcribed for analysis. Transcribed data was given a Protocol Number according to priority and was examined to find out what were the characteristics when students participated in the task. The evidence used in argumentation was graded from level 1 to level 6 according to Perella's Hierarchy of Evidence and the rate of frequency classified by the level was expressed in graph. Students used Level 1- Level 2 evidence above 50% without for or against task. They had weak argumentation making use of low-level evidence such as individual experience, opinion and another person's experience rather than objective evidences. On the other hand, students commented on the lack of opponent's evidence when they could not trust an opponent's evidence. If one team asked the other to present more evidence but could not, they disregarded the question and turned to another topic. And in cases where the opponent team refuted with evidences of high level, the other team just repeated their claim or evaded the rebuttal. The students tended to complete the argument without the same conclusions with some interruptions. The results show that we need an educational programs including scientific argumentation for science-gifted elementary school students.

Distribution Patterns of Surface Sediments of the Jangan Linear Sand Ridge off the Northern Taean Peninsula, in the Mid-west Coast of Korea (서해 중부 태안반도 북부 해역의 장안사퇴 표층퇴적물 분포 특성)

  • TAE SOO CHANG;EUNIL LEE;DO-SEONG BYUN;HWAYOUNG LEE;SEUNG-GYUN BAEK
    • The Sea:JOURNAL OF THE KOREAN SOCIETY OF OCEANOGRAPHY
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    • v.29 no.1
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    • pp.14-27
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    • 2024
  • Unlike the shelf sand ridges moribund in motion, nearshore sand ridges are highly mobile, sensitive to changes in ocean environments, thereby becoming of particular interest with respect to morphological changes. About 5 km off the Daesan port, the Jangan Sand Ridge has been undergoing severe subsea morphological change over the past two decades. Understanding the nature of sand ridges is critical to elucidate the causes of morphological changes. In this context, this study aims at understanding the characteristics and distribution patterns of surface sediments of the ridge and its vicinity. For this purpose, 227 sediment samples were acquired using a grab-sampler, the grain sizes being analysed by the sieve-pipette method. In addition, comparison of grain sizes in sediments between 1997 and 2021 was made in order to investigate the 25-years change in sediment composition. Surface sediments along the ridge axis are fine to medium sands with 2-3 phi in mean grain size, whereas, in the trough of ridge, the sediments are composed of gravels and muddy sandy gravels with mean sizes of -2 to -6 phi. Sediments in the crest of the ridge are well-sorted with normal distribution, on the other hand, the basal sediments are poorly-sorted and positively skewed. Along the ridge crest, the sediments are negatively skewed. From 1997 to 2021, the ridge sediments became largely coarser about 0.5 phi. Such coarsening trend in mean grain size can be explained either by elimination of fine sediments during high waves in winter or elimination of fines suspended during sand mining activities in the past. Spatial distribution pattern of surface sediments shows that ca. 30 m thick of the sand ridge itself overlies the thin relict gravels. The strong asymmetry of sand ridge, the exposure of ridge base, and reworked gravel lags suggest that Jangan sand ridge is probably sediment-deficit and hence erosive in nature at present.

A Study on the Method for Quantifying CO2 Contents in Decarbonated Slag Materials by Differential Thermal Gravimetric Analysis (DTG 분석법을 활용한 슬래그류 비탄산염 재료의 CO2 정량 측정방법 연구)

  • Jae-Won Choi;Byoung-Know You;Yong-Sik Chu;Min-Cheol Han
    • Journal of the Korean Recycled Construction Resources Institute
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    • v.12 no.1
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    • pp.8-16
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    • 2024
  • Limestone (CaCO3, calcium carbonate), which is used as a raw material in the portland cement and steel industry, emits CO2 through decarbonation by high temperatures in the manufacturing process. To reduce CO2 emissions by the use of raw materials like limestone, it has been proposed to replace limestone with various industrial by-products that contain CaO but less or none of the carbonated minerals, that cause CO2 emissions. Loss of Ignition (LOI), Thermogravimetric analysis (TG), and Infrared Spectroscopy (IR) are used to quantitative the amount of CO2 emission by using these industrial by-products, but CO2 emissions can be either over or underestimated depending on the characteristics of by-product materials. In this study, we estimated CO2 contents by LOI, TG, IR and DTG(Differential Thermogravimetric analysis) of calcite(CaCO3) and samples that contain CO2 in the form of carbonate and whose weight increases by oxidation at high temperatures. The test results showed for CaCO3 samples, all test methods have a sufficient level of reliability. On the other hand, for the CO2 content of the sample whose weight increases at high temperature, LOI and TG did not properly estimate the CO2 content of the sample, and IR tended to overestimate compared to the predicted value, but the estimated result by DTG was close to the predicted valu e. From these resu lts, in the case of samples that contain less than a few percent of CO2 and whose weight increases during the temperature that carbonate minerals decompose, estimating the CO2 content using DTG is a more reasonable way than LOI, TG, and IR.

The Effect of Mutual Trust on Relational Performance in Supplier-Buyer Relationships for Business Services Transactions (재상업복무교역중적매매관계중상호신임대관계적효적영향(在商业服务交易中的买卖关系中相互信任对关系绩效的影响))

  • Noh, Jeon-Pyo
    • 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.

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