• Asia Marketing Journal
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• v.12 no.2
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• pp.83-110
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• 2010

Dissatisfied customers may express their dissatisfaction behaviorally. These behavioral responses may impact the firms' profitability. How do we model the impact of self regulatory orientation on emotions and subsequent customer behaviors? Obviously, the positive and negative emotions experienced in these situations will influence the overall degree of satisfaction or dissatisfaction with the service(Zeelenberg and Pieters 1999). Most likely, these specific emotions will also partly determine the subsequent behavior in relation to the service and service provider, such as the likelihood of complaining, the degree to which customers will switch or repurchase, and the extent of word of mouth communication they will engage in(Zeelenberg and Pieters 2004). This study investigates the antecedents, consequences of negative consumption emotion and the moderate effect of attribution processing in an integrated model(self regulatory mode → specific emotions → behavioral responses). We focused on the fact that regret and disappointment have effects on consumer behavior. Especially, There are essentially two approaches in this research: the valence based approach and the specific emotions approach. The authors indicate theoretically and show empirically that it matters to distinguish these approaches in services research. and The present studies examined the influence of two regulatory mode concerns(Locomotion orientation and Assessment orientation) with making comparisons on experiencing post decisional regret and disappointment(Pierro, Kruglanski, and Higgins 2006; Pierro et al. 2008). When contemplating a decision with a negative outcome, it was predicted that high (vs low) locomotion would induce more disappointment than regret, whereas high (vs low) assessment would induce more regret than disappointment. The validity of the measurement scales was also confirmed by evaluations provided by the participating respondents and an independent advisory panel; samples provided recommendations throughout the primary, exploratory phases of the study. The resulting goodness of fit statistics were RMR or RMSEA of 0.05, GFI and AGFI greater than 0.9, and a chi-square with a 175.11. The indicators of the each constructs were very good measures of variables and had high convergent validity as evidenced by the reliability with a more than 0.9. Some items were deleted leaving those that reflected the cognitive dimension of importance rather than the dimension. The indicators were very good measures and had convergent validity as evidenced by the reliability of 0.9. These results for all constructs indicate the measurement fits the sample data well and is adequate for use. The scale for each factor was set by fixing the factor loading to one of its indicator variables and then applying the maximum likelihood estimation method. The results of the analysis showed that directions of the effects in the model are ultimately supported by the theory underpinning the causal linkages of the model. This research proposed 6 hypotheses on 6 latent variables and tested through structural equation modeling. 6 alternative measurements were compared through statistical significance test of the paths of research model and the overall fitting level of structural equation model and the result was successful. Also, Locomotion orientation more positively influences disappointment when internal attribution is high than low and Assessment orientation more positively influences regret when external attribution is high than low. In sum, The results of our studies suggest that assessment and locomotion concerns, both as chronic individual predispositions and as situationally induced states, influence the amount of people's experienced regret and disappointment. These findings contribute to our understanding of regulatory mode, regret, and disappointment. In previous studies of regulatory mode, relatively little attention has been paid to the post actional evaluative phase of self regulation. The present findings indicate that assessment concerns and locomotion concerns are clearly distinct in this phase, with individuals higher in assessment delving more into possible alternatives to past actions and individuals higher in locomotion engaging less in such reflective thought. What this suggests is that, separate from decreasing the amount of counterfactual thinking per se, individuals with locomotion concerns want to move on, to get on with it. Regret is about the past and not the future. Thus, individuals with locomotion concerns are less likely to experience regret. The results supported our predictions. We discuss the implications of these findings for the nature of regret and disappointment from the perspective of their relation to regulatory mode. Also, self regulatory mode and the specific emotions(disappointment and regret) were assessed and their influence on customers' behavioral responses(inaction, word of mouth) was examined, using a sample of 275 customers. It was found that emotions have a direct impact on behavior over and above the effects of negative emotions and customer behavior. Hence, We argue against incorporating emotions such as regret and disappointment into a specific response measure and in favor of a specific emotions approach on self regulation. Implications for services marketing practice and theory are discussed.

• Asia Marketing Journal
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• v.12 no.4
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• pp.55-78
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• 2011

Recently strategic alliance between business firms has become prevalent to overcome increasing competitive threats and to supplement resource limitation of individual firms. As one of allianced sales promotion activities, a new type of discount program, so called "Alliance Card Discount", is introduced with the partnership of credit cards and loyalty cards. The program mainly pursues short-term sales growth by larger discount scheme while spends less through cost share among alliance partners. Thus this program can be regarded as cost efficient discount promotion. But because there is no solid evidence that it can really deliver profitable sales growth, an empirical study for its effects on sales and profit should be conducted. This study has two basic research questions concerning the effects of allianced discount program ; 1)the possibility of sales increase 2) the profitability of the discount driven sales. In F&B industry, sales increase mainly comes from increased guest count. Especially in family restaurants, to increase the number of guests we need to enlarge the size of visitor group (number of visitors for one group) because customers visit by group in a special occasion. And because they pay the bill by group(table), the increase of sales per table is a key measure for sales improvement. The past researches for price & discount sensitivity and reference discount rate explain that price sensitive consumers have narrow reference discount zone and make rational purchase decision. Differently from all time discount scheme of regular sales promotions, the alliance card discount program only provides the right to get discount like discount coupon. And because it is usually once a month opportunity given by the past month usage level, customers tend to perceive alliance card discount as a rare chance to get. So that we can expect customers try to maximize the discount effect when they use the limited discount opportunity. Considering group visiting practice and low visit frequency of family restaurants, the way to maximize discount effect should be the increase the size of visit group. And their sensitivity to discount and rational consumption behavior defer the additional spending for ordering high price menu, even though they get considerable amount of savings from the discount. From the analysis of sales data paid by alliance discount cards for four months, we found the below. 1) The relation between discount rate and number of guest per table is positive : 25% discount results one additional guest 2) The relation between discount rate and the spending per guest is negative. 3) However, total profit amount per table is increased when discount rate is increased. 4) Reward point accumulation & redemption did not show any significant relationship with the increase of number of guests. These results suggest that the allianced discount program substantially contributes to sales increase and profit improvement by increasing the number of guests per table. Though the spending per guest is decreased by discount rate increase, the total amount of profit per table is improved. It seems the incremental profit by increased guest count offsets the profit decrease. Additional intriguing finding is the point reward system does not have any significant impact on the increase of number of guest, even if the point accumulation & redemption of loyalty program are usually regarded as another saving offers by customers. In sum, because it is proved that allianced discount program with credit cards and loyalty cards is effective to both sales drive and profit increase, the alliance card program could be recommended as strategically buyable program.

• Asia Marketing Journal
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• v.12 no.4
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• pp.27-54
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• 2011

This research attempted to present the efficiency of culture marketing to the organizations producing culture-art products and to the companies utilizing art and suggest the practical viewpoints to the culture and art policy agencies. The methodology used was to take an in-depth look at the consumer value cognition and benefits of culture-art products in contemporary consumption culture from a social context by conducting a total of 12 Focus Group Interviews, consisting of 58 males and females in their 10s~50s who can represent culture-art product consumers. The culture-art products refer to the artist's spiritual, actual act of creating or to the end products with economic exchange value. They are also sense goods and merit goods that affect the mental state of consumers. By looking at culture-art products as consumer merit goods, this research examined consumer value cognition of culture-art products based on the characteristics culture-art products. As a result, this research determined that consumers view culture-art products largely as 'aesthetic and sensuous merit goods', 'actual and individual merit goods', and 'social public property'. As 'aesthetic and sensuous merit goods', culture-art products are considered as the products of an artist's creative activities; as 'social public property', culture-art products have a public value in terms of ownership; and as 'actual and individual merit goods', culture-art products act on the spirit and reality of a consumer in terms of consumption. As a result of analyzing the benefits of culture-art products based on the above-mentioned consumer value cognition, it was observed that the benefits of culture-art-product consumption are chiefly divided into 'aesthetic character-oriented', 'social relationships-oriented', and 'individual benefits-oriented' depending on how consumers see culture-art products. A 3-conceptional structures model was constructed according to the relationship between consumer value cognition of culture-art products and the benefits. This research revealed that consumers who pursue the aesthetic value or sense of beauty as the central reason experience culture-art products themselves, enjoy intellectual quests, and pursue their satisfaction by expressing affection for and interests in culture-art products. On the other hand, consumers who pursue social value as the central reason as a means of communication by perceiving culture-art products as a public property of society, pursue sympathy with people close to them through the symbolic power of culture-art product consumption or the joy of self-display. Consumers who perceive art products as spiritual and actual merit goods and pursue consumer value as a central reason want to express their own personality, develop themselves, and differentiate themselves or identify themselves with others in the context of social relations for the ultimate goal of living a happy and satisfied life while pursuing to satisfy imminent and actual necessities as emotional stability and rest. The fact that culture-art product benefits could vary according to how a consumer perceives them implies that consumer value cognition of culture-art products and their benefits significant affect consumers' decision in choosing and consuming various culture-art products. It turned out that such benefits from the consumption of culture-art products reflect the complex contemporary consumption culture of rational consumption, symbolic consumption, experiential consumption, and social reflective consumption. This research identified conceptional structures of consumer value cognition on culture-art products and benefits that can be used for studying and understanding culture-art products consumers who pursue a variety of consumption values. They can also be used by private companies in utilizing art, as well as by national agencies in enhancing the population's quality of life. However, since this research could only conceptually grasp consumer perception of culture-art products and reveal the dimension of classification due to its own limitations arising from characteristic investigation, quantitative data on the benefits of culture-art product consumers should be measured in future studies through a quantitative investigation, while using the value cognition of culture-art products and the individual characteristics of consumers as variables based on this research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.3
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• pp.211-226
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• 2023

As we transition into the post-COVID era, economic activities that were stagnant are regaining momentum. In particular, there is a growing trend of technology entrepreneurship driven by the opportunities of digital transformation in the Fourth Industrial Revolution. However, entrepreneurship education content is struggling to keep up with the rapid pace of technological change. This study aims to emphasize the importance of entrepreneurship mentoring as a crucial component of entrepreneurship education content that requires adaptation and advancement due to the increasing demand for technology entrepreneurship. This study redefines startup mentoring, which is differentiated from general mentoring, at the present time when the demand for startups, which increases with the declining employment rate, increases, and the development of quality startup education contents and securing professional startup mentors are required. According to the start-up stage, it is divided into preliminary entrepreneurs and early entrepreneurs, and the effect of entrepreneurship knowledge and self-efficacy among start-up mentoring functions on entrepreneurial will and mentoring satisfaction is improved by empirically researching the effects of start-up mentoring functions in the case of initial entrepreneurs as a moderating effect. To confirm the importance of entrepreneurship mentoring effect for. To this end, among the mentoring functions, entrepreneurship knowledge and self-efficacy were set as independent variables, and entrepreneurial will and mentoring satisfaction were set as dependent variables. The research model was designed and hypotheses were established. In addition, empirical analysis was conducted by conducting a questionnaire survey on trainees who received entrepreneurship mentoring education at ICCE Startup School and Opus Startup School. To summarize the results of the empirical analysis, first, among the entrepreneurship mentoring functions, entrepreneurship knowledge and self-efficacy were analyzed to have a significant positive (+) effect on entrepreneurial will. Second, among the entrepreneurship mentoring functions, entrepreneurship knowledge and self-efficacy were analyzed to have a significant positive (+) effect on mentoring satisfaction. Third, it was analyzed that entrepreneurship had no significant moderating effect on entrepreneurial knowledge and entrepreneurial will. Fourth, it was analyzed that entrepreneurship had no significant moderating effect on mentoring satisfaction. Fifth, it was found that entrepreneurship had a significant moderating effect between self-efficacy and will to start a business. As a result of the research analysis, the first implication is that the mentoring function in start-up education is analyzed to produce meaningful results for both the initial entrepreneurs and the prospective entrepreneurs in the will to start a business and satisfaction. . Second, it was analyzed that there was no significant relationship between whether a business was started and the mentoring function and effect. However, it was analyzed that the will to start a business through improvement of self-efficacy through mentoring was significantly related to whether or not to start a business. turned out to be helpful. Many start-up education programs currently conducted in Korea educate both early-stage entrepreneurs and prospective entrepreneurs at the same time for reasons such as convenience. However, through the results of this study, even in small-scale entrepreneurship mentoring, it is suggested that customized mentoring through detailed classification such as whether the mentee has started a business can be a method for successful entrepreneurship and high satisfaction of the mentee.

• Bangmulgwan gwa yeongu (The National Museum of Korea Journal)
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• v.1
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• pp.36-73
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• 2024

The Tomb of Jang Mui located in Bongsan-gun, Hwanghae-do Province has attracted much attention since its first investigation due to the inscribed bricks found there that have allowed the guessing of the name and official title of its occupant and construction date. Inscriptions on these bricks, such as the "Prefect of Daebang Commandery Jang Mui" and the "Mu" (戊, the fifth sign of the Chinese calendar), and "Sin" (申, the ninth sign of the Chinese zodiac), have become the basis for believing the location of the government office of Daebang Commandery to be in Bongsangun, Hwanghae-do Province rather than somewhere in the Hangang River region. From the early days of its investigation, the tomb was suggested as historic remains of the Daebang Commandery along with the Earthen Fortress in Jitap-ri. Inscribed bricks excavated from the Tomb of Jang Mui were featured in several books and articles in the form of photographs and rubbings, leading to a vast body of studies on its construction period and the characteristics of its occupant that drew upon interpretations of the inscriptions. However, the inscribed bricks themselves were not publicly available outside those held in the collection of the University of Tokyo, making it difficult to expect consistent research findings on the types of inscribed bricks and their contents. Following previous studies re-examining the structure of the tomb and the materials used for its construction, most scholars dated the Tomb of Jang Mui to 348, a period after the collapse of Daebang Commandery. However, there is still a lack of adequate examination of the bricks, which account for the majority of the artifacts excavated from the tomb. Among the bricks excavated from most brick chamber tombs, including the Tomb of Jang Mui, only those with inscriptions or designs have been collected. Moreover, among these, only those with inscriptions or designs on the stretcher faces have been documented. Accordingly, the bricks themselves have been notably understudied. This paper intends to reorganize the contents of the inscriptions on eleven types (out of sixty-one pieces) of bricks in the collection of the National Museum of Korea, which make up the majority of the bricks excavated from the Tomb of Jang Mui. It also classified them according to their shapes. Furthermore, it examined the bricks from the Tomb of Jang Mui as architectural materials by focusing on their production techniques, including their forming, drying, and firing. Taking a more specific approach, it then compared the results to other bricks from the second century through the fourth century: those from the brick chamber tombs of the Nangnang and Daebang Commanderies and those from the brick chamber tombs built after Nangnang and Daebang Commanderies were ousted. The examination of bricks from the Tomb of Jang Mui has revealed that these bricks were basically produced using the brick manufacturing techniques of Nangnang, but they incorporated new elements found in bricks from brick chamber tombs or brick-and-stone chamber tombs constructed around the mid-fourth century in terms of their size, the use of lime, and the number of inscribed bricks. This supports the prevailing view that the date of the construction of the Tomb of Jang Mui is 348. The Tomb of Jang Mui sustained the existing brick chamber tomb burial tradition, but its ceiling was finished with stone. It demonstrates a blending of the brick chamber tomb practice of the Nangnang and Daebang Commanderies by using bricks produced based on related techniques, but with new elements such as the addition of a lime layer to the bricks. This fusion reflects the political circumstances of its time, such as the expulsion of the Daebang Commandery and the advance of the Goguryeo Kingdom, leading to diverse interpretations. Given archaeological evidence such as the structure, materials, and location of the tomb, the Tomb of Jang Mui appears to be highly related to the Goguryeo Kingdom. However, the forms of the inscribed bricks and the contents of the inscriptions share similarities with brick chamber tombs constructed during the third and fourth centuries in the Jiangsu and Zhejiang regions in China. Further studies on whether the use of lime was an influence from Goguryeo or a continuation of the Daebang tradition and a comparative examination with contemporaneous stone ceiling tombs will provide a more refined understanding of the Tomb of Jang Mui.

• Sim-seong Yeon-gu
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• v.28 no.1
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• pp.1-49
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• 2013

This article started with 'encounter'. Both authors met around the middle of February and discussed the subject for the inhospital conference presentation scheduled at the break of June. Having conversation like "Movies similar to fairytales heard from childhood are standing out conspicuously among commercial films which are attracting audiences and receiving fervent response these days. This phenomenon is marvelous and mysterious." together, and sharing this and that, the conversation turned naturally to 'Bram Stoker's Dracula', 'Series of Twilight', and 'Warm Bodies', both authors found out the fact that we saw these movies in common with propound impression. Feeling our hearts beating high, bit of fear and hesitation followed simultaneously at the moment when both of us encountered the idea to choose subject of conference presentation related to this and expressed one in words. While preparing for the conference, presenting to others, and having discussion with the audience, our hearts have been filled with Presentation was finished after active discussion beyond fixed hour and it also brought audience (among those present) to show strong emotional response both positively and negatively. At first, we just had a thought to put aside the content of presentation, but we felt lack of something else, lingering in our minds. We finally decided to accomplish our work into an article leading to submission, based on the advice and recommendation from one of the audience. This article is a small 'creative writing' born by sharing both authors' passion and enthusiasm. In the first part of this article, we have introduced the dream of 31-year-old woman's which led to the 'creative writing' and spotlighted her personal life, before and after the dream. In the second part, we have examined the consequence (way of realization) and meaning of creative impulse shown from or experienced from personal unconsciousness (dream, fantasy) together. Creative impulse shown from the individual appeared to bring creative transformation of individual personality through the process of 'introversion'. Otherwise it also appeared to be delivered as a masterpiece through 'creative writing' or from the process of 'extroversion'. Sometimes both consequences happened at once. We tried to examine and interpret the dream of 31-year-old woman's, which was introduced in the first part of this article, that is to say, the dream of 'Stephenie Meyer's, the author of the 'love between vampire boy and ordinary human girl' themed novel 'Twilight Series', in a psychoanalytic perspective. In the third part, highlighting individual dreams and three different movies 'Bram Stoker's Dracula', 'Twilight Series', and 'Warm Bodies', we found the transformation of symbol 'Man of Darkness, vampire' seen in each individual dreams and in some specific popular arts, such as novels and movies, receiving fervent response from people. We also found love between this symbol and humane woman, bearing fruit together with very impressive change shown in the attitude of 'Man of Darkness' (vampire)'s conscious ego and mutual relationship pattern. We contemplated this phenomenon, the reason why these events happen, and what kind of association presents among these events, individual, and this era and discussed the effects on individuals and this era, at present. 'Creative impulse', originated in the deep structure of human mind is realized as a 'transformation of individual personality' or masterpiece through artistic creation. If it has a chance to make a match with this era, shared by a lot of contemporary people, it also appears to bring positive effect as healing and salvation to each individual or to each era. From this article, we mainly highlighted positive and healing aspects of individual 'creative impulse'. We hope to deal with the negative consequences and their reason coming from 'creative impulse', if the occasion arises, in the future with a new article.

• 한국프랑스학논집
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• v.108
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• pp.1-45
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• 2019

The objective of this work is to study the rebirth of the French baroque opera and to analyze Atys of Quinault and Lully. Accordingly, it can appear interesting to take into account not only the reception of Atys in the 17th century in France, but also its representations in 1987. Then, it seems important to us to examine the studies on the modification of the myth in Atys, while questioning the legitimacy of the Fasti of Ovid as a primary source. Lastly, we will endeavor to emphasize the influence of Natale Conti's Mythologies on Atys, and that of Michel de Marolles's the Tableaux du Temple des Muses on the scene of the sleep of the hero. In a general way, in regard to the influence of the sources in Atys, these two works drew until now only very little the attention of criticism. The difficulties which Louis XIV crosses at the time of the genesis of Atys, such as the death of the marshal of Turenne or the departure of Louise de La Vallière to the convent, seem to have nourished the choices of Quinault and Lully. Atys is an admirable spectacle with the changes at sight of the decorations, the varied machines and the splendid costumes, but in spite of the immense success of this opera, he is forgotten after the representation given at Fontainebleau in 1753. Two centuries later, les Arts Florissants' production of Atys in 1987 - with its triumph which one knows - seems to announce a rebirth of the French baroque opera. William Christie and Jean-Marie Villégier still succeed in presenting their production in 2011 thanks to Ronald Stanton, American fortunate who was impressed by the representation of Atys in 1987. Villégier and his artistic team choose a single decoration and remove the machines in order to place work at the court plunged into mourning of Louis XIV twenty years after the premiere of Atys. The "classicism" of their dramatic presentation emphasizes the classical dramaturgy and the tragic side of this opera. Criticisms often stress the importance of Ovid's Fasti as a primary source, while adding his Metamorphoses as a secondary source (the metamorphosis of Atys in pine and the scene of his sleep). Quinault borrows indeed from the Fasti some elements : in love with Atys, Cybele entrusts the responsibility to him of keep her temple ; the reciprocal love between Atys and Sangaride causes the revenge on the goddess. However he borrows more from the French translation of Natale Conti's Mythologies which present the Phrygian version of the myth of Atys. In the first three accounts of this version, one finds common points with the opera : 1) Atys refuses the physical desire of Cybele ; the goddess makes Atys insane instead of making die Sangaride ; 2) the lover of the hero is daughter of the river of Sangar ; Cybele makes change into pine Atys who committed suicide (or ready to commit suicide) ; 3) the goddess discovers the physical relation of the young couple. Natale Conti's Mythologies also present the Lydian version of the myth : a furious wild boar sent by irritated Zeus kill Atys and several people. One can suppose that this part undoubtedly influences the "monster" and its "dreadful howls" evoked by Atys in a fit of insanity. Moreover, the dreams make discover in Atys the intentions of Cybele, which is not without relationship with the translated text of Natale Conti : the Mythologies indicate that sweet Sleep reveals "the intentions & the plans of the Gods." To manufacture the famous scene of the sleep of the hero, Quinault and Lully make use of the annotations of the "Palace of the Sleep" located at the end of the Tableaux du Temple des Muses : Michel de Marolles translates and explains the texts of Catullus (the sleep of Atys), of Ovid (the Sleep and his three sons), and of Ausonius (good dreams / bad dreams). In spite of the important influence of these sources, Quinault and Lully modify some elements of the myth : the theme of castration is removed because of the proprieties ; the suicide of Atys is at the same time an act of love and an act of revolt against Cybele ; the cruel goddess is also a desperate and weak lover; the invention of the character of Celenus returns the love of the young prohibited and tragic. Quinault fascinate the contemporary public with the interior movements of complex characters and the music of Lully emphasizes this quality of the libretto.

• Journal of East-West Nursing Research
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• v.1 no.1
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• pp.50-71
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• 1997

The intention of this study is to apprehend the con. tents and methods of herb remedies that are commonly conducted when there are health-problem cases of ENT, eyes, teeth and skin. Methods of this study are divided into two stages : 1) For a period of six months from December 1994 to June 1995, some 40 persons who are believed to be well versed with herb remedies have been randomly chosen, and we made a survey on herb remedies by symptoms: and 2) we have endeavored to make their grounds evident through the studies on literatures with the focus on the basic data collected. Their results are as follows: 1) When one feels a pain in ears, such herb remedies are employed as pouring the vapor into ears, which is made by steaming Alaska pollack, or as applying or wiping with the juices of radish or the ginkgo, or' alum. Applying the radish juice is effective for sterilization and fever removal: and applying the ginkgo juice is effective for cleanliness. But, plastering alum, sesame oil or castor oil, or pouring the vapor of Alaska pollack into ears are perhaps effective but do not have any pharmacologic grounds. 2) When one bleeds at the nose, such kinds of herb remedies are applied as stimulating nose or head with cold water, pressing nose or ridge of nose, or filling up nares with mashed mugworts. In addition, they have utilized garlic or leeks. Such methods as stimulating with cold water or just pressing nose and ridge of nose is based on reasonable grounds, i.e. vasoconstriction and vascular compression ; and applying mashed garlic on the sole of foot is good for the circulation of Qui ; and the use of mugworts and leeks is based upon the pharmacological function of hemostasis. 3) When one feels a sore throat such kinds of herb remedies are employed as gargling or rinsing throat with brine, drinking hot gruel or water, or drinking the juice of mugwort, radish, ginger or Chinese quince. Gargling with brine or drinking the juice of mugwort, radish or ginger is based upon the pharmacological function of pain alleviation, fever removal, and detoxication. 4) When a boil is formed in mouth, such herb remedies are applied as spreading honey, brine or alum water, and taking gall nut, Chinese matrimony vine, lotus root, etc, for drugs. Spreading honey, brine or water that is made by infusing gallnut, Chinese matrimony vine, lotus root is based upon such functions as hematosis, astriction, antibacterial, and antiphlogistic, Alum, eggplant and licorice are said to be effective, but their pharmacological effects have no grounds. 5) When one has conjunctivitis such herb remedies are commonly applied as irrigation with brine and dropping breast milk in eyes. Moreover, such other drugs are used as plantain. shepherd's purse, and purslane, etc. The use of brine, breast milk, plantain, shepherd's purse and purslane is based upon such functions as sterilization, antiphlogistic, disinfection and pain relieving. Eriocaulon sieboldianum, bean stem, bean pod and narcissus leaves are said to be effective, but their pharmacological action have no basis. When one has a stye, such herb remedies are applied as extracting eyelashes, stimulating by a massage of middle finger, third finger or big toe, as well as sear ing with a heated bamboo comb that is fine-toothed. Other than these, plantain and nightshade's nuts are used as drugs for it. Extracting eyelashes corresponds with exclusing suppurative node and draining the stye of pus ; and the use of plantain is based upon disinfection: and nightshade's nuts are said to be effective, however, their pharmacological action has no grounds. 6) For a treatment of toothache, such herb remedies are commonly employed as rinsing mouth with brine and holding cold water or gasoline in the mouth ; and as the drugs that are believed to be effective have been Welsh onion, ginger and castor-oil, plant, etc. The use of Welsh onion is based upon pain killing, antiinflammatory actions, and the use of ginger is based upon detoxication and disinfection ; and seeds of castor-oil plants are said to be effective, but they have no pharmacological basis. 7) When one has hives, such herb remedies are commonly applied as rubbing burned straw in affected parts, exposing to its smoke, rubbing with salt, sweeping down with a broom, and spreading and drinking boiled water of trifoliate orange. The use of cassia tora seeds, walnut, aloe and radish is said to be effective. The use of cassia tor a seeds has the functions of intestinal order, anti-paralysis, etc. The use of walnut has resulted in an increase of blood by invigorating spirits ; and the use of aloe is based upon disinfection, antibiotic, anti-salt, antihistamine and detoxication action. But, the effects of radish juice and straw's smoke have no pharmacological grounds. 8) When one gets a boil, such herb remedies are commonly used as applying a plaster, paste of flour mixed with yolk, soy sauce or honey, as well as spreading pounded elm tree. Other remedies that have been said to be effective are ; heating with mugwort, brine, wild rocambole, aloe, onion, squid's bone, etc. The use of mugwort is based upon pain killing, astringent antiinflammatory and tranquility. Wild rocambole is based upon the generation and maintenance functions of cell-joining textures ; elm tree upon antiphlogistic ; aloe upon fever removal and antiphlogistic ; onion on pain killing, fever removal, antiphlogistic and tranquility ; squid's bone on astriction: and brine or vinegar on sterilization. Pine resin and gardenia seed are said to be effective, but they have no pharmacological basis. 9) When one cuts his skin, such herb remedies are commonly employed as spreading mugwort's juice or squid's bone powder, or pressing the wounds. In addition, kalopanax, onion and fine soil are employed. The use of mugwort, kalopanax and squid's bone is based upon such functions as hemostasis, sedation, pain killing, antibacterial ; and fine soil is said to be effective, but it has no pharmacological basis. 10) When one suffers from whitlow, such herb remedies are commonly utilized as heating with boiled soy sauce, spreading soybean paste, or dipping into eggs, etc. Other drugs that have been employed are onion root, brine, eggplant, potato, loach, etc. The use of onion is based upon pain killing and antiphlogistic functions ; and that of brine upon antiphlogistic function. The use of soy sauce or soybean paste, fomentation, eggplant, potato and loach is said to be effective, but it has no pharmacblogic ground. 11) For the treatment of frostbite, such herb remedies are commonly used as dipping the affected part into frozen soybean sack, using boiled water of eggplant stem, garlic caulis, onion, hot pepper, caulis. Onion is based upon antiphlogistic and tranquility actions garlic upon disintection, metabolic exacerbation, tonic and aphrodisiac actions and the use of eggplant and hot pepper is based upon help blood circulation, dissolution and excretion of waste matters in vein. 12) For the treatment of burn, such herb remedies or drugs are commonly used as cleansing with Korean gin, spreading eggs, cleansing with cold water and soap water ; and as brine, cactus, moss, soybean paste, oil, etc. The cleansing with Korean gin, cold water, soap water, brine, vinegar is based upon cleaning and sterilizing functions ; and the use of cucumber is based upon nu. trition provision, and strengthening of resisting power by adjustment of metabolism. The use of potato, cactus, moss, oil and eggs is said to be effective, but their phamacological functions are not clarified. In view of the above results, we can realize that the drugs that have been employed in herb remedies are quite diverse. However, in regard to majority of herb remedies that have been employed by symptoms, the pharmacological functions of their drugs have not been clarified, and they are merely known as effective. Furthermore, they have not been recorded in the literature as yet ; and we confirm that there have been many herb remedies that were executed without the proper knowlege of their effects. It is now our view that the results of this survey may be utilized for consulting data in regard to the use of herb remedies.

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

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

• Journal of Global Scholars of Marketing Science
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• v.19 no.3
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• pp.17-27
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• 2009

Price promotion typically reduces the price for a given quantity or increases the quantity available at the same price, thereby enhancing value and creating an economic incentive to purchase. It often is used to encourage product or service trial among nonusers of products or services. Thus, it is important to understand the effects of price promotions on quality perception made by consumer who do not have prior experience with the promoted brand. However, if consumers associate a price promotion itself with inferior brand quality, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. More specifically, low qualitative perception through price promotion will undercut the economic and psychological incentives and reduce the likelihood of purchase. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. Previous literatures on the effects of price promotions on quality perception reveal inconsistent explanations. Some focused on the unfavorable effect of price promotion on consumer's perception. But others showed that price promotions didn't raise unfavorable perception on the brand. Prior researches found these inconsistent results related to the timing of the price promotion's exposure and quality evaluation relative to trial. And, whether the consumer has been experienced with the product promotions in the past or not may moderate the effects. A few studies considered differences among product categories as fundamental factors. The purpose of this research is to investigate the effect of price promotional informations on consumer's unfavorable quality perception under the different conditions. The author controlled the timing of the promotional exposure and varied past promotional patterns and information presenting patterns. Unlike previous researches, the author examined the effects of price promotions setting limit to pretrial situation by controlling potentially moderating effects of prior personal experience with the brand. This manipulations enable to resolve possible controversies in relation to this issue. And this manipulation is meaningful for the work sector. Price promotion is not only used to target existing consumers but also to encourage product or service trial among nonusers of products or services. Thus, it is important for marketers to understand how price promotional informations about a brand have impact on consumer's unfavorable quality perception of the brand. If consumers associate a price promotion itself with inferior quality about unused brand, the promotion may not achieve the sales increase the economic incentives otherwise might have produced. In addition, if the price promotion ends, the consumer that have purchased that certain brand will likely to display sharply decreased repurchasing behavior. Through a literature review, hypothesis 1 was set as follows to investigate the adjustive effect of past price promotion on quality perception made by consumers; The influence that price promotion of unused brand have on quality perception made by consumers will be adjusted by past price promotion activity of the brand. In other words, a price promotion of an unused brand that have not done a price promotion in the past will have a unfavorable effect on quality perception made by consumer. Hypothesis 2-1 was set as follows : When an unused brand undertakes price promotion for the first time, the information presenting pattern of price promotion will have an effect on the consumer's attribution for the cause of the price promotion. Hypothesis 2-2 was set as follows : The more consumer dispositionally attribute the cause of price promotion, the more unfavorable the quality perception made by consumer will be. Through test 1, the subjects were given a brief explanation of the product and the brand before they were provided with a $2{\times}2$ factorial design that has 4 patterns of price promotion (presence or absence of past price promotion * presence or absence of current price promotion) and the explanation describing the price promotion pattern of each cell. Then the perceived quality of imaginary brand WAVEX was evaluated in the scale of 7. The reason tennis racket was chosen is because the selected product group must have had almost no past price promotions to eliminate the influence of average frequency of promotion on the value of price promotional information as Raghubir and Corfman (1999) pointed out. Test 2 was also carried out on students of the same management faculty of test 1 with tennis racket as the product group. As with test 1, subjects with average familiarity for the product group and low familiarity for the brand was selected. Each subjects were assigned to one of the two cells representing two different information presenting patterns of price promotion of WAVEX (case where the reason behind price promotion was provided/case where the reason behind price promotion was not provided). Subjects looked at each promotional information before evaluating the perceived quality of the brand WAVEX in the scale of 7. The effect of price promotion for unfamiliar pretrial brand on consumer's perceived quality was proved to be moderated with the presence or absence of past price promotion. The consistency with past promotional behavior is important variable that makes unfavorable effect on brand evaluations get worse. If the price promotion for the brand has never been carried out before, price promotion activity may have more unfavorable effects on consumer's quality perception. Second, when the price promotion of unfamiliar pretrial brand was executed for the first time, presenting method of informations has impact on consumer's attribution for the cause of firm's promotion. And the unfavorable effect of quality perception is higher when the consumer does dispositional attribution comparing with situational attribution. Unlike the previous studies where the main focus was the absence or presence of favorable or unfavorable motivation from situational/dispositional attribution, the focus of this study was exaus ing the fact that a situational attribution can be inferred even if the consumer employs a dispositional attribution on the price promotional behavior, if the company provides a persuasive reason. Such approach, in academic perspectih sis a large significance in that it explained the anchoring and adjng ch approcedures by applying it to a non-mathematical problem unlike the previous studies where it wis ionaly explained by applying it to a mathematical problem. In other wordn, there is a highrspedency tmatispositionally attribute other's behaviors according to the fuedach aal attribution errors and when this is applied to the situation of price promotions, we can infer that consumers are likely tmatispositionally attribute the company's price promotion behaviors. Ha ever, even ueder these circumstances, the company can adjng the consumer's anchoring tmareduce the po wibiliute thdispositional attribution. Furthermore, unlike majority of previous researches on short/long-term effects of price promotion that only considered the effect of price promotions on consumer's purchasing behaviors, this research measured the effect on perceived quality, one of man elements that affects the purchasing behavior of consumers. These results carry useful implications for the work sector. A guideline of effectively providing promotional informations for a new brand can be suggested through the outcomes of this research. If the brand is to avoid false implications such as inferior quality while implementing a price promotion strategy, it must provide a clear and acceptable reasons behind the promotion. Especially it is more important for the company with no past price promotion to provide a clear reason. An inconsistent behavior can be the cause of consumer's distrust and anxiety. This is also one of the most important factor of risk of endless price wars. Price promotions without prior notice can buy doubt from consumers not market share.