• Radiation Oncology Journal
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• v.15 no.1
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• pp.49-56
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• 1997

Purpose : To evaluate the pathologic effects of preoperative radiotherapy o the resectable distal rectal cancer, we analyzed the results of postoperative pathologic findings for the patients with preoperative radiotherapy ant surgery Materials and Methods: From July 1995 to April 1996, we treated sixteen patients of resectable rectal cancer with preoperative radiation therapy and curative surgery At diagnosis, Thomas Jefferson (TJ) system was used for the clinical stage of the Patients. We treated the patients with conventional radiation therapy of 4500~5000cGy before surgery. The surgery was carried out 4 weeks after completion of radiation therapy. Modified Astler Coller (MAC) system was used for the postoperative pathologic stage. We analyzed the pathologic stages and findings according to preoperative clinical stage and compared with those of the control group in similar clinical stages. Result : All patients were treated with sphincter preservation surgery after Preoperative radiation therapy. Pathoiogic complete response (CR) was shown in 1 case $(6.3\%)$. We compared the results between preoperative radiation therapy group (Preop.RT group) and surgery only group (control group). In TJ stage II, among nine patients of Preop.RT group, 8 patients $(88.9\%)$ were in MAC stage 8 except 1 CR patient, but among 17 patients of control group. 11 patients$(64.7\%)$ were in MAC stage B and 6 Patients $(35.3\%)$ in MAC stage C. In TJ stage III, among 7 patients of Preop.RT group, 4 patients $(57.1\%)$ were in MAC stage B and 3 patients$(42.9\%)$ in MAC stage C. Among 14 Patients of control group, 4 patients $(28.6\%)$ were in MAC stage B and 10 Patients $(71.4\%)$ in MAC stage C. Above results showed that postoperative Pathologic stage was decreased in Preop.RT group with statistical significance (P=0.049). The postoperative Pathologic findings (blood vessel invasion. Iymphatic vessel invasion, perineural invasion) were decreased in the Preop.RT group compared with those of control group. But statistical significance was found only in Iymphatic vessel invasion (p=0.019). Conclusion : The Postoperative pathologic stages and adverse Prognostic pathologic findings were decreased in preoperative radiation therapy group. The Iymphatic vessel invasion and MAC stage C findings were abruptly decreased in Preoperative radiation therapy group. The preoperative radiation therapy was found to be effective in resectable rectal cancer. The patients group in our study was very small and long term follow up was not done. Therefore, further study about this issues is needed.

• Tuberculosis and Respiratory Diseases
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• v.43 no.6
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• pp.916-924
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• 1996

Bacground : Percutaneous needle aspiration biopsy (PCNA) is one of the most frequently used diagnostic methcxJs for intrathoracic lesions. Previous studies have reponed wide range of diagnostic yield from 28 to 98%. However, diagnostic yield has been increased by accumulation of experience, improvement of needle and the image guiding systems. We analysed the results of PCNA performed for one year to evaluate the diagnostic yield, the rate and severity of complications and factors affecting the diagnostic yield. Method : 287 PCNAs undergone in 236 patients from January, 1994 to December, 1994 were analysed retrospectively. The intrathoracic lesions was targeted and aspirated with 21 - 23 G Chiba needle under fluoroscopic guiding system. Occasionally, 19 - 20 G Biopsy gun was used for core tissue specimen. The specimen was requested for microbiologic, cytologic and histopathologic examination in the case of obtained core tissue. Diagnostic yields and complication rate of benign and malignant lesions were ca1culaled based on patients' chans. The comparison for the diagnostic yields according to size and shape of the lesions was analysed with chi square test (p<0.05). Results : There are 19.9% of consolidative lesion and 80.1% of nodular or mass lesion, and the lesion is located at the right upper lobe in 26.3% of cases, the right middle lobe in 6.4%, the right lower lobe 21.2%, the left upper lobe in 16.8%, the left lower lobe in 10.6%, and mediastinum in 1.3%. The lesion distributed over 2 lobes is as many as 17.4% of cases. There are 74 patients with benign lesions, 142 patients with malignant lesions in final diagnosis and confirmative diagnosis was not made in 22 patients despite of all available diagnostic methods. 2 patients have lung cancer and pulmonary tuberculosis concomittantly. Experience with 236 patients showed that PCNA can diagnose benign lesions in 62.2% (42 patients) of patients with such lesions and malignant lesions in 82.4% (117 patients) of patients. For the patients in whom the first PCNA failed to make diagnosis, the procedure was repeated and the cumulative diagnostic yield was increased as 44.6%, 60.8%, 62.2% in benign lesions and as 73.4%, 81.7%, 82.4% in malignant lesions through serial PCNA. Thoracotomy was performed in 9 patients with benign lesions and in 43 patients with malignant lesions. PCNA and thoracotomy showed the same pathologic result in 44.4% (4 patients) of benign lesions and 58.1% (25 patients) of malignant lesions. Thoracotomy confirmed 4 patients with malignat lesions against benign result of PCNA and 2 patients with benign lesions against malignant result of PCNA. There are 1.0% (3 cases) of hemoptysis, 19.2% (55 cases) of blood tinged sputum, 12.5% (36 cases) of pneumothorax and 1.0% (3 cases) of fever through 287 times of PCNA. Hemoptysis and blood tinged sputum didn't need therapy. 8 cases of pneumothorax needed insertion of classical chest tube or pig-tail catheter. Fever subsided within 48 hours in all cases. There was no difference between size and shape of lesion with diagnostic yield. Conclusion: PCNA shows relatively high diagnostic yield and mild degree complications but the accuracy of histologic diagnosis has to be improved.

• 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 Intelligence and Information Systems
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• v.23 no.3
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• pp.29-44
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• 2017

In Internet commerce, consumers are heavily influenced by product reviews written by other users who have already purchased the product. However, as the product reviews accumulate, it takes a lot of time and effort for consumers to individually check the massive number of product reviews. Moreover, product reviews that are written carelessly actually inconvenience consumers. Thus many online vendors provide mechanisms to identify reviews that customers perceive as most helpful (Cao et al. 2011; Mudambi and Schuff 2010). For example, some online retailers, such as Amazon.com and TripAdvisor, allow users to rate the helpfulness of each review, and use this feedback information to rank and re-order them. However, many reviews have only a few feedbacks or no feedback at all, thus making it hard to identify their helpfulness. Also, it takes time to accumulate feedbacks, thus the newly authored reviews do not have enough ones. For example, only 20% of the reviews in Amazon Review Dataset (Mcauley and Leskovec, 2013) have more than 5 reviews (Yan et al, 2014). The purpose of this study is to analyze the factors affecting the usefulness of online product reviews and to derive a forecasting model that selectively provides product reviews that can be helpful to consumers. In order to do this, we extracted the various linguistic, psychological, and perceptual elements included in product reviews by using text-mining techniques and identifying the determinants among these elements that affect the usability of product reviews. In particular, considering that the characteristics of the product reviews and determinants of usability for apparel products (which are experiential products) and electronic products (which are search goods) can differ, the characteristics of the product reviews were compared within each product group and the determinants were established for each. This study used 7,498 apparel product reviews and 106,962 electronic product reviews from Amazon.com. In order to understand a review text, we first extract linguistic and psychological characteristics from review texts such as a word count, the level of emotional tone and analytical thinking embedded in review text using widely adopted text analysis software LIWC (Linguistic Inquiry and Word Count). After then, we explore the descriptive statistics of review text for each category and statistically compare their differences using t-test. Lastly, we regression analysis using the data mining software RapidMiner to find out determinant factors. As a result of comparing and analyzing product review characteristics of electronic products and apparel products, it was found that reviewers used more words as well as longer sentences when writing product reviews for electronic products. As for the content characteristics of the product reviews, it was found that these reviews included many analytic words, carried more clout, and related to the cognitive processes (CogProc) more so than the apparel product reviews, in addition to including many words expressing negative emotions (NegEmo). On the other hand, the apparel product reviews included more personal, authentic, positive emotions (PosEmo) and perceptual processes (Percept) compared to the electronic product reviews. Next, we analyzed the determinants toward the usefulness of the product reviews between the two product groups. As a result, it was found that product reviews with high product ratings from reviewers in both product groups that were perceived as being useful contained a larger number of total words, many expressions involving perceptual processes, and fewer negative emotions. In addition, apparel product reviews with a large number of comparative expressions, a low expertise index, and concise content with fewer words in each sentence were perceived to be useful. In the case of electronic product reviews, those that were analytical with a high expertise index, along with containing many authentic expressions, cognitive processes, and positive emotions (PosEmo) were perceived to be useful. These findings are expected to help consumers effectively identify useful product reviews in the future.

• Journal of the Korean Institute of Landscape Architecture
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• v.43 no.1
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• pp.40-53
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• 2015

To train the manpower to meet the requirements of the industrial field, the introduction of the National Qualification Frameworks(hereinafter referred to as NQF) was determined in 2001 by National Competency Standards(hereinafter referred to as NCS) centrally of the Office for Government Policy Coordination. Also, for landscape architecture in the construction field, the "NCS -Landscape Architecture" pilot was developed in 2008 to be test operated for 3 years starting in 2009. Especially, as the 'realization of a competence-based society, not by educational background' was adopted as one of the major government projects in the Park Geun-Hye government(inaugurated in 2013) the NCS system was constructed on a nationwide scale as a detailed method for practicing this. However, in the case of the NCS developed by the nation, the ideal job performing abilities are specified, therefore there are weaknesses of not being able to reflect the actual operational problem differences in the student level between universities, problems of securing equipment and professors, and problems in the number of current curricula. For soft landing to practical curriculum, the process of clearly analyzing the gap between the current curriculum and the NCS must be preceded. Gap analysis is the initial stage methodology to reorganize the existing curriculum into NCS based curriculum, and based on the ability unit elements and performance standards for each NCS ability unit, the discrepancy between the existing curriculum within the department or the level of coincidence used a Likert scale of 1 to 5 to fill in and analyze. Thus, the universities wishing to operate NCS in the future measuring the level of coincidence and the gap between the current university curriculum and NCS can secure the basic tool to verify the applicability of NCS and the effectiveness of further development and operation. The advantages of reorganizing the curriculum through gap analysis are, first, that the government financial support project can be connected to provide quantitative index of the NCS adoption rate for each qualitative department, and, second, an objective standard is provided on the insufficiency or sufficiency when reorganizing to NCS based curriculum. In other words, when introducing in the subdivisions of the relevant NCS, the insufficient ability units and the ability unit elements can be extracted, and the supplementary matters for each ability unit element per existing subject can be extracted at the same time. There is an advantage providing directions for detailed class program and basic subject opening. The Ministry of Education and the Ministry of Employment and Labor must gather people from the industry to actively develop and supply the NCS standard a practical level to systematically reflect the requirements of the industrial field the educational training and qualification, and the universities wishing to apply NCS must reorganize the curriculum connecting work and qualification based on NCS. To enable this, the universities must consider the relevant industrial prospect and the relation between the faculty resources within the university and the local industry to clearly select the NCS subdivision to be applied. Afterwards, gap analysis must be used for the NCS based curriculum reorganization to establish the direction of the reorganization more objectively and rationally in order to participate in the process evaluation type qualification system efficiently.

• Journal of Intelligence and Information Systems
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• v.20 no.1
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• pp.177-193
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• 2014

Over the past decade, there has been a rapid diffusion of electronic commerce and a rising number of interconnected networks, resulting in an escalation of security threats and privacy concerns. Electronic commerce has a built-in trade-off between the necessity of providing at least some personal information to consummate an online transaction, and the risk of negative consequences from providing such information. More recently, the frequent disclosure of private information has raised concerns about privacy and its impacts. This has motivated researchers in various fields to explore information privacy issues to address these concerns. Accordingly, the necessity for information privacy policies and technologies for collecting and storing data, and information privacy research in various fields such as medicine, computer science, business, and statistics has increased. The occurrence of various information security accidents have made finding experts in the information security field an important issue. Objective measures for finding such experts are required, as it is currently rather subjective. Based on social network analysis, this paper focused on a framework to evaluate the process of finding experts in the information security field. We collected data from the National Discovery for Science Leaders (NDSL) database, initially collecting about 2000 papers covering the period between 2005 and 2013. Outliers and the data of irrelevant papers were dropped, leaving 784 papers to test the suggested hypotheses. The co-authorship network data for co-author relationship, publisher, affiliation, and so on were analyzed using social network measures including centrality and structural hole. The results of our model estimation are as follows. With the exception of Hypothesis 3, which deals with the relationship between eigenvector centrality and performance, all of our hypotheses were supported. In line with our hypothesis, degree centrality (H1) was supported with its positive influence on the researchers' publishing performance (p<0.001). This finding indicates that as the degree of cooperation increased, the more the publishing performance of researchers increased. In addition, closeness centrality (H2) was also positively associated with researchers' publishing performance (p<0.001), suggesting that, as the efficiency of information acquisition increased, the more the researchers' publishing performance increased. This paper identified the difference in publishing performance among researchers. The analysis can be used to identify core experts and evaluate their performance in the information privacy research field. The co-authorship network for information privacy can aid in understanding the deep relationships among researchers. In addition, extracting characteristics of publishers and affiliations, this paper suggested an understanding of the social network measures and their potential for finding experts in the information privacy field. Social concerns about securing the objectivity of experts have increased, because experts in the information privacy field frequently participate in political consultation, and business education support and evaluation. In terms of practical implications, this research suggests an objective framework for experts in the information privacy field, and is useful for people who are in charge of managing research human resources. This study has some limitations, providing opportunities and suggestions for future research. Presenting the difference in information diffusion according to media and proximity presents difficulties for the generalization of the theory due to the small sample size. Therefore, further studies could consider an increased sample size and media diversity, the difference in information diffusion according to the media type, and information proximity could be explored in more detail. Moreover, previous network research has commonly observed a causal relationship between the independent and dependent variable (Kadushin, 2012). In this study, degree centrality as an independent variable might have causal relationship with performance as a dependent variable. However, in the case of network analysis research, network indices could be computed after the network relationship is created. An annual analysis could help mitigate this limitation.

• Pediatric Gastroenterology, Hepatology & Nutrition
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• v.2 no.2
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• pp.153-163
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• 1999

Purpose: The purpose of our study is to provide useful information for diagnostic methods of fatty liver by childhood simple obesity and to provide correlation between serum alanine aminotransferase (ALT) for screening test and abdominal computerized tomography (CT) and liver biopsy for confirmative diagnostic methods of fatty liver. Methods: Among 78 obese childrens who visited our hospital, CT was carried out in 26 childrens. Of these, liver biopsy was carried out in 15 childrens who had high obesity index or severe elevated ALT. Based on the level of serum ALT, 26 cases were classified into 3 groups, and compared with physical measurements and degree of fatty infiltration on CT and liver biopsy. Results: 1) Correlation between ALT and physical measurements: Of 26 obese children, ALT was abnormally elevated (>30 IU/L) in 17 cases (67.4%) but there was no significant correlation between ALT and physical measurements (p>0.05). 2) Correlation between degree of fatty infiltration on CT and ALT: Of 26 cases, 13 cases (50%) revealed fatty liver on CT. The degree of fatty liver on CT had significant correlation with elevation of ALT (p<0.05). 3) Correlation between the degree of fatty infiltration on liver biopsy and ALT: Liver biopsy was performed in 15 cases of which 14 cases revealed fatty liver. But one case had normal hepatic histology with severe obesity and normal ALT. Fourteen fatty liver cases on liver biopsy were classified into 3 groups by the degree of fatty infiltration and analysed with obesity index and ALT. The histologic hepatic steatosis had no significant correlation with obesity index (p>0.05), but significant correlation with ALT (p<0.05). 4) Correlation between CT and liver biopsy finding: Both CT and liver biopsy were performed in 15 cases of which 6 cases revealed normal finding on CT and 9 cases manifested fatty liver. There was significant correlation between CT and liver biopsy findings (r=0.6094). Conclusion: The results of our study suggest that abdominal CT and liver biopsy are useful and accurate methods of estimating fatty liver in the childhood obesity. But biochemical abnormalities of routine liver function tests dot not correlate well with severity of the fatty liver and liver injury.

• The Korean Journal of Nuclear Medicine Technology
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• v.23 no.1
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• pp.69-74
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• 2019

Purpose $^{18}F$-FDOPA using amino acid is particularly attractive for imaging of brain tumors because of the high uptake in tumor tissue and the low uptake in normal brain tissue. But, on the other hand, $^{18}F$-FDG is highly uptake in both tumor tissue and normal brain tissue. The purpose of study is to evaluate comparison of contrasts in $^{18}F$-FDOPA Brain PET/CT and $^{18}F$-FDG Brain PET/CT and to find out optimal scan time by analysis of variation in SUV with the passage of uptake time. Materials and Methods A region of interest of approximately $350mm^2$ at the center of the tumor and cerebellum in 12 patients ($51.4{\pm}12.8yrs$) who $^{18}F$-FDG Brain PET/CT and $^{18}F$-FDOPA Brain PET/CT were examined more than once each. The $SUV_{max}$ was measured, and the $SUV_{max}$ ratio (T/C ratio) of the tumor cerebellum was calculated. In the analysis of SUV, T/C ratio was calculated for each frame after dividing into 15 frames of 2 minutes each using List mode data in 25 patients ($49.{\pm}10.3yrs$). SPSS 21 was used to compare T/C ratio of $^{18}F$-FDOPA and T/C ratio of $^{18}F$-FDG. Results The T/C ratio of $^{18}F$-FDOPA Brain PET/CT was higher than the T/C ratio of $^{18}F$-FDG Brain, and show a significant difference according to a paired t-test(t=-5.214, p=0.000). As a result of analyzing changes in $SUV_{max}$ and T/C ratio, the peak point of $SUV_{max}$ was $5.6{\pm}2.9$ and appeared in the fourth frame (6 to 8 minutes), and the peak of T/C ratio also appeared in the fourth frame (6 to 8 minutes). Taking this into consideration and comparing the existing 10 to 30 minutes image and 6 to 26 minutes image, the $SUV_{max}$ and T/C ratio increased by 0.2 and 0.1 each, compared to the 10 to 30 minutes image for 6 to 26 minutes image. Conclusion From this study, $^{18}F$-FDOPA Brain PET/CT is effective when reading the image, because the T/C ratio of $^{18}F$-FDOPA Brain PET/CT was higher than T/C ratio of $^{18}F$-FDG Brain PET/CT. In addition, in the case of $^{18}F$-FDOPA Brain PET/CT, there was no difference between the existing 10 to 30 minutes image and 6 to 26 minutes image. Through continuous research, we can find possibility of shortening examination time in $^{18}F$-FDOPA Brain PET/CT. Also, we can help physician to accurate reading using additional scan data.

• Asia Marketing Journal
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• v.14 no.1
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• pp.1-24
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• 2012

Nowadays, customer satisfaction has been one of company's major objectives, and the index to measure and communicate customer satisfaction has been generally accepted among business practices. The major issues of CSI(customer satisfaction index) are three questions, as follows: (a)what level of customer satisfaction is tolerable, (b)whether customer satisfaction and company performance has positive causality, and (c)what to do to improve customer satisfaction. Among these, the second issue is recently attracting academic research in several perspectives. On this study, the second issue will be addressed. Many researchers including Anderson have regarded customer satisfaction as core competencies, such as brand equity, customer equity. They want to verify following causality "customer satisfaction → market performance(market share, sales growth rate) → financial performance(operating margin, profitability) → corporate value performance(stock price, credit ratings)" based on the process model of marketing performance. On the other hand, Insoo Jeon and Aeju Jeong(2009) verified sequential causality based on the process model by the domestic data. According to the rejection of several hypotheses, they suggested the balance model of marketing performance as an alternative. The objective of this study, based on the existing process model, is to examine the causal relationship between customer satisfaction and corporate value performance. Anderson and Mansi(2009) proved the relationship between ACSI(American Customer Satisfaction Index) and credit ratings using 2,574 samples from 1994 to 2004 on the assumption that credit rating could be an indicator of a corporate value performance. The similar study(Sangwoon Yoon, 2010) was processed in Korean data, but it didn't confirm the relationship between KCSI(Korean CSI) and credit ratings, unlike the results of Anderson and Mansi(2009). The summary of these studies is in the Table 1. Two studies analyzing the relationship between customer satisfaction and credit ratings weren't consistent results. So, in this study we are to test the conflicting results of the relationship between customer satisfaction and credit ratings based on the research model considering Korean credit ratings. To prove the hypothesis, we suggest the research model as follows. Two important features of this model are the inclusion of important variables in the existing Korean credit rating system and government support. To control their influences on credit ratings, we included three important variables of Korean credit rating system and government support, in case of financial institutions including banks. ROA, ER, TA, these three variables are chosen among various kinds of financial indicators since they are the most frequent variables in many previous studies. The results of the research model are relatively favorable : R², F-value and p-value is .631, 233.15 and .000 respectively. Thus, the explanatory power of the research model as a whole is good and the model is statistically significant. The research model has good explanatory power, the regression coefficients of the KCSI is .096 as positive(+) and t-value and p-value is 2.220 and .0135 respectively. As a results, we can say the hypothesis is supported. Meanwhile, all other explanatory variables including ROA, ER, log(TA), GS_DV are identified as significant and each variables has a positive(+) relationship with CRS. In particular, the t-value of log(TA) is 23.557 and log(TA) as an explanatory variables of the corporate credit ratings shows very high level of statistical significance. Considering interrelationship between financial indicators such as ROA, ER which include total asset in their formula, we can expect multicollinearity problem. But indicators like VIF and tolerance limits that shows whether multicollinearity exists or not, say that there is no statistically significant multicollinearity in all the explanatory variables. KCSI, the main subject of this study, is a statistically significant level even though the standardized regression coefficients and t-value of KCSI is .055 and 2.220 respectively and a relatively low level among explanatory variables. Considering that we chose other explanatory variables based on the level of explanatory power out of many indicators in the previous studies, KCSI is validated as one of the most significant explanatory variables for credit rating score. And this result can provide new insights on the determinants of credit ratings. However, KCSI has relatively lower impact than main financial indicators like log(TA), ER. Therefore, KCSI is one of the determinants of credit ratings, but don't have an exceedingly significant influence. In addition, this study found that customer satisfaction had more meaningful impact on corporations of small asset size than those of big asset size, and on service companies than manufacturers. The findings of this study is consistent with Anderson and Mansi(2009), but different from Sangwoon Yoon(2010). Although research model of this study is a bit different from Anderson and Mansi(2009), we can conclude that customer satisfaction has a significant influence on company's credit ratings either Korea or the United State. In addition, this paper found that customer satisfaction had more meaningful impact on corporations of small asset size than those of big asset size and on service companies than manufacturers. Until now there are a few of researches about the relationship between customer satisfaction and various business performance, some of which were supported, some weren't. The contribution of this study is that credit rating is applied as a corporate value performance in addition to stock price. It is somewhat important, because credit ratings determine the cost of debt. But so far it doesn't get attention of marketing researches. Based on this study, we can say that customer satisfaction is partially related to all indicators of corporate business performances. Practical meanings for customer satisfaction department are that it needs to actively invest in the customer satisfaction, because active investment also contributes to higher credit ratings and other business performances. A suggestion for credit evaluators is that they need to design new credit rating model which reflect qualitative customer satisfaction as well as existing variables like ROA, ER, TA.

• Asia Marketing Journal
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• v.12 no.2
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• pp.155-175
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• 2010

Most of the service industries including finance and telecommunications have become matured and saturated. The competitions have become severe while the differences among brands become smaller. Therefore maintaining good relationships with customers has been critical for the service providers. In case of credit card and debit card, the similar patterns are shown. It is important for them to maintain good relationships with customers, and therefore, they have used marketing program which provides customized services to customers and utilizes the membership programs. Not only do they build and maintain good relationships, but also highlight their brands from the emotional aspects. For example, KB Card or Hyundai Card uses well-known designers' works for their credit card design. As well, they differentiate the designs of credit cards to stress on their brand personalities. BC Card introduced the credit card with perfume that a customer would like. Even though the credit card is small and not shown to public easily, it becomes more important for those companies to touch the customers' feelings with the brand personalities and their images. This is partly because of changes in consumers' lifestyles. Y-generations becomes highly likely to express themselves in many different ways and more emotional than X-generations. For the Y-generations, therefore, even credit cards in the wallet should be personalized and well-designed. In line with it, credit cards with good design can be seen as an example of brand identity, where different design for each customer can be used to recognize the membership groups that customers want to belong. On the other hand, these credit card companies offer the special treatment benefits for those customers who are heavy users for the cards. For example, those customers who love sports will receive some special discounts when they use their credit cards for sports related products. Therefore this study attempted to explore the relationships between relational benefits, brand identification and loyalty. It has been well known that relational benefits and brand identification lead to loyalty independently from many other studies, but there has been few study to review all the three variables all together in a research model. Furthermore, as reviewed above, in the card industry, many companies attempt to associate the brand image with their products to fit their customers' lifestyles while relational benefits are still playing an important role for their business. Therefore in our research model, relational benefits, brand identification, and loyalty are all included. We focus on the mediating effect of brand identification. From the relational benefits perspective, only special treatment benefit and confidence benefit are included. Social benefit is not applicable for this credit card industry because not many cases of face-to-face interaction can be found. From the brand identification perspective, personal brand identity and social brand identity are reviewed and included in the model. Overall, the research model emphasizes that the relationships between relational benefits and loyalty will be mediated by the effect of brand identification. The effects of relational benefits which are confidence benefit and special treatment benefits on loyalty will be realized when they fit to the personal brand identity and social brand identity. In the research model, therefore, the relationships between confidence benefit and social brand identity, and between confidence benefit and personal identity are hypothesized while the effects of special treatment benefit on social brand identity and personal brand identity are hypothesized. Loyalty, then, is hypothesized to have positive relationships with personal brand identity and social brand identity. In addition, confidence benefit among the relational benefits is expected to have a direct, positive relationship with loyalty because confidence benefit has been recognized as a critical factor for good relationships and satisfaction. Data were collected from college students who have been using either credit cards or debit cards. College students were regarded good subjects because they are in Y-generation cohorts and have tendency to express themselves more. Total sample size was two hundred three at the beginning, but after deleting those data with many missing values, one hundred ninety-seven data points were remained and used for the model testing. Measurement items were brought from the previous literatures and modified for this research. To test the reliability, using SPSS 14, chronbach's α was examined and all the values were from .874 to .928 exceeding over .7. Using AMOS 7.0, confirmatory factor analysis was conducted to investigate the measurement model. The measurement model was found good fit with χ²(67)=188.388 (p= .000), GFI=.886, AGFI=.821, CFI=.941, RMSEA=.096. Using AMOS 7.0, structural equation modeling has been used to analyze the research model. Overall, the research model fit were χ²(68)=188.670 (p= .000), GFI=.886, AGFI=,824 CFI=.942, RMSEA=.095 indicating good fit. In details, all the paths hypothesized in the research model were found significant except for the path from social brand identity to loyalty. Personal brand identity leads to loyalty while both confidence benefit and special treatment benefit have a positive relationships with personal and social identities. As well, confidence benefit has a direct positive effect on loyalty. The results indicates the followings. First, personal brand identity plays an important role for credit/debit card usage. Therefore even for the products which are not shown to public easy, design and emotional aspect can be important to fit the customers' lifestyles. Second, confidence benefit and special treatment benefit have a positive effects on personal brand identity. Therefore it will be needed for marketers to associate the special treatment and trust and confidence benefits with personal image, personality and personal identity. Third, this study found again the importance of confidence and trust. However interestingly enough, social brand identity was not found to be significantly related to loyalty. It can be explained that the main sample of this study consists of college students. Those strategies to facilitate social brand identity are focused on high social status groups while college students have not been established their status yet.