• Journal of Intelligence and Information Systems
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• v.27 no.3
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• pp.95-112
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• 2021

In university education, the choice of major class plays an important role in students' careers. However, in line with the changes in the industry, the fields of major subjects by department are diversifying and increasing in number in university education. As a result, students have difficulty to choose and take classes according to their career paths. In general, students choose classes based on experiences such as choices of peers or advice from seniors. This has the advantage of being able to take into account the general situation, but it does not reflect individual tendencies and considerations of existing courses, and has a problem that leads to information inequality that is shared only among specific students. In addition, as non-face-to-face classes have recently been conducted and exchanges between students have decreased, even experience-based decisions have not been made as well. Therefore, this study proposes a recommendation system model that can recommend college major classes suitable for individual characteristics based on data rather than experience. The recommendation system recommends information and content (music, movies, books, images, etc.) that a specific user may be interested in. It is already widely used in services where it is important to consider individual tendencies such as YouTube and Facebook, and you can experience it familiarly in providing personalized services in content services such as over-the-top media services (OTT). Classes are also a kind of content consumption in terms of selecting classes suitable for individuals from a set content list. However, unlike other content consumption, it is characterized by a large influence of selection results. For example, in the case of music and movies, it is usually consumed once and the time required to consume content is short. Therefore, the importance of each item is relatively low, and there is no deep concern in selecting. Major classes usually have a long consumption time because they have to be taken for one semester, and each item has a high importance and requires greater caution in choice because it affects many things such as career and graduation requirements depending on the composition of the selected classes. Depending on the unique characteristics of these major classes, the recommendation system in the education field supports decision-making that reflects individual characteristics that are meaningful and cannot be reflected in experience-based decision-making, even though it has a relatively small number of item ranges. This study aims to realize personalized education and enhance students' educational satisfaction by presenting a recommendation model for university major class. In the model study, class history data of undergraduate students at University from 2015 to 2017 were used, and students and their major names were used as metadata. The class history data is implicit feedback data that only indicates whether content is consumed, not reflecting preferences for classes. Therefore, when we derive embedding vectors that characterize students and classes, their expressive power is low. With these issues in mind, this study proposes a Net-NeuMF model that generates vectors of students, classes through network analysis and utilizes them as input values of the model. The model was based on the structure of NeuMF using one-hot vectors, a representative model using data with implicit feedback. The input vectors of the model are generated to represent the characteristic of students and classes through network analysis. To generate a vector representing a student, each student is set to a node and the edge is designed to connect with a weight if the two students take the same class. Similarly, to generate a vector representing the class, each class was set as a node, and the edge connected if any students had taken the classes in common. Thus, we utilize Node2Vec, a representation learning methodology that quantifies the characteristics of each node. For the evaluation of the model, we used four indicators that are mainly utilized by recommendation systems, and experiments were conducted on three different dimensions to analyze the impact of embedding dimensions on the model. The results show better performance on evaluation metrics regardless of dimension than when using one-hot vectors in existing NeuMF structures. Thus, this work contributes to a network of students (users) and classes (items) to increase expressiveness over existing one-hot embeddings, to match the characteristics of each structure that constitutes the model, and to show better performance on various kinds of evaluation metrics compared to existing methodologies.

• Journal of the Korean Institute of Traditional Landscape Architecture
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• v.29 no.2
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• pp.81-89
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• 2011

The results of tracking the symbolism of plants in the introduction factors of Sokhwa(folk painting) are as the following. 1. The term Sokhwa(俗畵) is not only a type of painting with a strong local customs, but also carries a symbolic meaning and was discovered in "Donggukisanggukjip" of Lee, Gyu-Bo(1268~1241) in the Goryo era as well as the various usage in the "Sok Dongmunseon" in the early Chosun era, "Sasukjaejip" of Gang, Hee-mang(1424~1483), "Ilseongrok(1786)" in the late Chosun era, "Jajeo(自著)" of Yoo, Han-joon(1732~1811), and "Ojuyeonmunjangjeonsango(五洲衍文長箋散稿)" of Lee, Gyu-gyung(1788~?). Especially, according to the Jebyungjoksokhwa allegation〈題屛簇俗畵辯證說〉in the Seohwa of the Insa Edition of Ojuyeonmunjangjeonsango, there is a record that the "people called them Sokhwa." 2. Contemporarily, the Korean Sokhwa underwent the prehistoric age that primitively reflected the natural perspective on agricultural culture, the period of Three States that expressed the philosophy of the eternal spirits and reflected the view on the universe in colored pictures, the Goryo Era that religiously expressed the abstract shapes and supernatural patterns in spacein symbolism, and the Chosun Era that established the traditional Korean identity of natural perspective, aesthetic values and symbolism in a complex integration in the popular culture over time. 3. The materials that were analyzed in 1,009 pieces of Korean Sokhwa showed 35 species of plants, 37 species of animals, 6 types of natural objects and other 5 types with a total of 83 types. 4. The shape aesthetics according to the aesthetic analysis of the plants in Sokhwa reflect the primitive world view of Yin/yang and the Five Elements in the peony paintings and dynamic refinement and biological harmonies in the maehwado; the composition aesthetics show complex multi-perspective composition with a strong noteworthiness in the bookshelf paintings, a strong contrast of colors with reverse perspective drawing in the battlefield paintings, and the symmetric beauty of simple orderly patterns in nature and artificial objects with straight and oblique lines are shown in the leisurely reading paintings. In terms of color aesthetics, the five colors of directions - east, west, south, north and the center - or the five basic colors - red, blue, yellow, white and black - are often utilized in ritual or religious manners or symbolically substitute the relative relationships with natural laws. 5. The introduction methods in the Korean Sokhwa exceed the simple imitation of the natural shapes and have been sublimated to the symbolism that is related to nature based on the colloquial artistic characteristics with the suspicion of the essence in the universe. Therefore, the symbolism of the plants and animals in the Korean Sokhwas is a symbolic recognition system, not a scientific recognition system with a free and unique expression with a complex interaction among religious, philosophical, ecological and ideological aspects, as a identity of the group culture of Koreans where the past and the future coexist in the present. This is why the Koran Sokhwa or the folk paintings can be called a cultural identity and can also be interpreted as a natural and folk meaningful scenic factor that has naturally integrated into our cultural lifestyle. However, the Sokhwa(folk paintings) that had been closely related to our lifestyle drastically lost its meaning and emotions through the transitions over time. As the living lifestyle predominantly became the apartment culture and in the historical situations where the confusion of the identity has deepened, the aesthetic and the symbolic values of the Sokhwa folk paintings have the appropriateness to be transmitted as the symbolic assets that protect our spiritual affluence and establish our identity.

• Journal of Intelligence and Information Systems
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• v.26 no.4
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• pp.111-126
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• 2020

Most industries have recently become aware of the importance of customer lifetime value as they are exposed to a competitive environment. As a result, preventing customers from churn is becoming a more important business issue than securing new customers. This is because maintaining churn customers is far more economical than securing new customers, and in fact, the acquisition cost of new customers is known to be five to six times higher than the maintenance cost of churn customers. Also, Companies that effectively prevent customer churn and improve customer retention rates are known to have a positive effect on not only increasing the company's profitability but also improving its brand image by improving customer satisfaction. Predicting customer churn, which had been conducted as a sub-research area for CRM, has recently become more important as a big data-based performance marketing theme due to the development of business machine learning technology. Until now, research on customer churn prediction has been carried out actively in such sectors as the mobile telecommunication industry, the financial industry, the distribution industry, and the game industry, which are highly competitive and urgent to manage churn. In addition, These churn prediction studies were focused on improving the performance of the churn prediction model itself, such as simply comparing the performance of various models, exploring features that are effective in forecasting departures, or developing new ensemble techniques, and were limited in terms of practical utilization because most studies considered the entire customer group as a group and developed a predictive model. As such, the main purpose of the existing related research was to improve the performance of the predictive model itself, and there was a relatively lack of research to improve the overall customer churn prediction process. In fact, customers in the business have different behavior characteristics due to heterogeneous transaction patterns, and the resulting churn rate is different, so it is unreasonable to assume the entire customer as a single customer group. Therefore, it is desirable to segment customers according to customer classification criteria, such as loyalty, and to operate an appropriate churn prediction model individually, in order to carry out effective customer churn predictions in heterogeneous industries. Of course, in some studies, there are studies in which customers are subdivided using clustering techniques and applied a churn prediction model for individual customer groups. Although this process of predicting churn can produce better predictions than a single predict model for the entire customer population, there is still room for improvement in that clustering is a mechanical, exploratory grouping technique that calculates distances based on inputs and does not reflect the strategic intent of an entity such as loyalties. This study proposes a segment-based customer departure prediction process (CCP/2DL: Customer Churn Prediction based on Two-Dimensional Loyalty segmentation) based on two-dimensional customer loyalty, assuming that successful customer churn management can be better done through improvements in the overall process than through the performance of the model itself. CCP/2DL is a series of churn prediction processes that segment two-way, quantitative and qualitative loyalty-based customer, conduct secondary grouping of customer segments according to churn patterns, and then independently apply heterogeneous churn prediction models for each churn pattern group. Performance comparisons were performed with the most commonly applied the General churn prediction process and the Clustering-based churn prediction process to assess the relative excellence of the proposed churn prediction process. The General churn prediction process used in this study refers to the process of predicting a single group of customers simply intended to be predicted as a machine learning model, using the most commonly used churn predicting method. And the Clustering-based churn prediction process is a method of first using clustering techniques to segment customers and implement a churn prediction model for each individual group. In cooperation with a global NGO, the proposed CCP/2DL performance showed better performance than other methodologies for predicting churn. This churn prediction process is not only effective in predicting churn, but can also be a strategic basis for obtaining a variety of customer observations and carrying out other related performance marketing activities.

• MISULJARYO - National Museum of Korea Art Journal
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• v.98
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• pp.22-53
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• 2020

This paper analyzes the contents, characteristics, and historical significance of the dedicatory inscriptions (josanggi) on the Amitabha Buddha and the Maitreya Bodhisattva statues of Gamsansa Temple, two masterpieces of Buddhist sculpture from the Unified Silla period. In the first section, I summarize research results from the past century (divided into four periods), before presenting a new perspective and methodology that questions the pre-existing notion that the Maitreya Bodhisattva has a higher rank than the Amitabha Buddha. In the second section, through my own analysis of the dedicatory inscriptions, arrangement, and overall appearance of the two images, I assert that the Amitabha Buddha sculpture actually held a higher rank and greater significance than the Maitreya Bodhisattva sculpture. In the third section, for the first time, I provide a new interpretation of two previously undeciphered characters from the inscriptions. In addition, by comparing the sentence structures from the respective inscriptions and revising the current understanding of the author (chanja) and calligrapher (seoja), I elucidate the possible meaning of some ambiguous phrases. Finally, in the fourth section, I reexamine the content of both inscriptions, differentiating between the parts relating to the patron (josangju), the dedication (josang), and the prayers of the patrons or donors (balwon). In particular, I argue that the phrase "for my deceased parents" is not merely a general axiom, but a specific reference. To summarize, the dedicatory inscriptions can be interpreted as follows: when Kim Jiseong's parents died, they were cremated and he scattered most of their remains by the East Sea. But years later, he regretted having no physical memorial of them to which to pay his respects. Thus, in his later years, he donated his estate on Gamsan as alms and led the construction of Gamsansa Temple. He then commissioned the production of the two stone sculptures of Amitabha Buddha and Maitreya Bodhisattva for the temple, asking that they be sculpted realistically to reflect the actual appearance of his parents. Finally, he enshrined the remains of his parents in the sculptures through the hole in the back of the head (jeonghyeol). The Maitreya Bodhisattva is a standing image with a nirmanakaya, or "transformation Buddha," on the crown. As various art historians have pointed out, this iconography is virtually unprecedented among Maitreya images in East Asian Buddhist sculpture, leading some to speculate that the standing image is actually the Avalokitesvara. However, anyone who reads the dedicatory inscription can have no doubt that this image is in fact the Maitreya. To ensure that the sculpture properly embodied his mother (who wished to be reborn in Tushita Heaven with Maitreya Bodhisattva), Kim Jiseong combined the iconography of the Maitreya and Avalokitesvara (the reincarnation of compassion). Hence, Kim Jiseong's deep love for his mother motivated him to modify the conventional iconography of the Maitreya and Avalokitesvara. A similar sentiment can be found in the sculpture of Amitabha Buddha. To this day, any visitor to the temple who first looks at the sculptures from the front before reading the text on the back will be deeply touched by the filial love of Kim Jiseong, who truly cherished the memory of his parents.

• The Journal of Korean Society for Radiation Therapy
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• v.33
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• pp.145-153
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• 2021

Purpose: The purpose of this study is to evaluate the ovarian dose during radiation therapy for breast cancer in women of childbearing age through an experiment. The ovarian dose is evaluated by comparing and analyzing between the calculated dose in the treatment planning system according to the treatment technique and the measured dose using a thermoluminescence dosimeter (TLD). The clinical usefulness of lead (Pb) apron is investigated through dose analysis according to whether or not it is used. Materials and Methods: Rando humanoid phantom was used for measurement, and wedge filter radiation therapy, 3D conformal radiation therapy, and intensity modulated radiation therapy were used as treatment techniques. A treatment plan was established so that 95% of the prescribed dose could be delivered to the right breast of the Rando humanoid phantom 3D image obtained using the CT simulator. TLD was inserted into the surface and depth of the virtual ovary of the Rando hunmanoid phantom and irradiated with radiation. The measurement location was the center of treatment and the point moved 2 cm to the opposite breast from the center of the Rando hunmanoid phantom, 5cm, 10cm, 12.5cm, 15cm, 17.5cm, 20cm from the boundary of the right breast to the center of treatment and downward, and the surface and depth of the right ovary. Measurements were made at a total of 9 central points. In the dose comparison of treatment planning systems, two wedge filter treatment techniques, three-dimensional conformal radiotherapy, and intensity-modulated radiation therapy were established and compared. Treatments were compared, and dose measurements according to the use of lead apron were compared and analyzed in intensity-modulated radiation therapy. The measured value was calculated by averaging three TLD values for each point and converting using the TLD calibration value, which was calculated as the point dose mean value. In order to compare the treatment plan value with the actual measured value, the absolute dose value was measured and compared at each point (%Diff). Results: At Point A, the center of treatment, a maximum of 201.7cGy was obtained in the treatment planning system, and a maximum of 200.6cGy was obtained in the TLD. In all treatment planning systems, 0cGy was calculated from Point G, which is a point 17.5cm downward from the breast interface. As a result of TLD, a maximum of 2.6cGy was obtained at Point G, and a maximum of 0.9cGy was obtained at Point J, which is the ovarian dose, and the absolute dose was 0.3%~1.3%. The difference in dose according to the use of lead aprons was from a maximum of 2.1cGy to a minimum of 0.1cGy, and the %Diff value was 0.1%~1.1%. Conclusion: In the treatment planning system, the difference in dose according to the three treatment plans did not show a significant difference from 0.85% to 2.45%. In the ovary, the difference between the Rando humanoid phantom's treatment planning system and the actual measured dose was within 0.9%, and the actual measured dose was slightly higher. This did not accurately reflect the effect of scattered radiation in the treatment planning system, and it is thought that the dose of scattered radiation and the dose taken by CBCT with TLD inserted were reflected in the actual measurement. In dosimetry according to the with or without a lead apron, when a lead apron was used, the closer the distance from the treatment range, the more effective the shielding was. Although it is not clinically appropriate for pregnancy or artificial insemination during radiotherapy, the dose irradiated to the ovaries during treatment is not expected to significantly affect the reproductive function of women of childbearing age after radiotherapy. However, since women of childbearing age have constant anxiety, it is thought that psychological stability can be promoted by presenting the data from this study.

• Journal of Popular Narrative
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• v.26 no.3
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• pp.45-86
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• 2020

In this article, the "modernization of the tradition" constructed on the cultural politics and the way in which it appropriated in the korean theatre in the 1970s were analyzed. It is trying to reveal its implications. It is also a work to critically review the aspects of self-censorship in the korean theatre in the 70s. To that end, we looked at the theatre company Minye Theatre, which preoccupied the traditional discussions in the 1970s by creating national dramas. Until now, the evaluation of the theatre company Minye Theatre in the 1970s has focused on the achievement on the directing of Heo Gyu, who promoted the succession and transformation of tradition. However, the traditional ideology constructed in the state-led cultural politics in the 70s and the way in which it was operated cannot be evaluated only in terms of artistic achievement. The ideology of tradition is selected according to the selective criteria of the subject to appropriate tradition. What's important is that certain objects are excluded, discarded, re-elected, re-interpreted and re-recognized in the selection process of selected traditional ideology. This is the situation in the '70s, when tradition was constantly re-recognized amid differences between the decadent and the disorder that were then designated as non-cultural, and led to a new way of appropriate. The nation-led traditional discussion of the '70s legalized the tradition with stable values, one of the its way was the national literary and artistic support. Under the banner of modernization of tradition, theatre company Minye preoccupied the discussions on the tradition and presented folk drama as a new theatre. As an alternative to the crisis of korean theatre at the time, the Minye chose the method of inheriting and transforming tradition. It is noteworthy that Heo Gyu, the representative director of the theatre company Minye, recognized the succession and transformation of traditional performance as both a calling and an experiment. For Heo Gyu, tradition was accepted as an irresistible stable value and an unquestionable calling, and as a result, his performance, filled with excessive traditional practices, became overambitious, especially when it failed to reflect the present-here reality, the repeated use of traditional expression tools resulted in skilled craftsmanship, not artistic creation. The traditional ideology of the 70s unfolds in a new aspect of appropriation in the 80s. In 1986, Son Jin-Cheok, Kim Seong-nyeo, and Yoon Mun-sik, who were key members of the theatre company Minye Theatre, left the theatre to create the theatre company Michu, and secured popularity through Madangnori(popular folk yard theatre). Son Jin-Cheok's Madangnori is overbearing through satire and humor. It gained popularity by criticizing and mocking state power. On the other hand, not only the form of traditional performance, but also the university-centered Madanggeuk movement, which appropriated on the spirit of resistance from the people to its traditional values, has rapidly grown. In the field of traditional discussions of the 70s, Madanggeuk was self-born through appropriation in which the spirit of resistance of the people is used as a traditional value. Madanggeuk as well as Michu that achieved the popularization of Madangnori cannot be discussed solely by the artistic achievement of the modernization of tradition. Critics of korean theatre in response to state-led traditional discussions in the 70s was focused only on the qualitative achievement of performing arts based on artistry. I am very sorry for that. As a result, the popular resistance of the Madanggeuk and the Madangnori were established in the 'difference' with the traditions of the theatre company Minye Theatre. Theatre company Minye Theatre was an opportunity for the modernization of tradition, but the fact that it did not continuously produce significant differences. This is the meaning and limitation of the "tradition" of the theatre company Minye Theatre in the history of korean theatre in the 1970s.

• Korean Journal of Environment and Ecology
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• v.37 no.4
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• pp.302-314
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• 2023

This study aims to explore the direction for Korea's effective response to Target 3 (30by30), which can be said to be the core of the Kunming-Montreal Global Biodiversity Framework (K-M GBF) of the Convention on Biological Diversity (CBD), to find the direction of systematic OECM (Other Effective area-based Conservation Measures) discovery at the national level through a survey of global conceptual review and expert perception of OECM. This study examined ① the use of Korean terms related to OECM, ② derivation of determining criteria reflecting global standards, ③ deriving types of potential OECM candidates in Korea, and ④ considerations for OECM identification and reporting to explore the direction for identifying systematic, national-level OECM that complies with global standards and reflects the Korean context. First, there was consensus for using Korean terminology that reflects the concept of OECM rather than simple translations, and it was determined that "nature coexistence area" was the most preferred term (12 people) and had the same context as CBD 2050 Vision of "a world of living in harmony with nature." This study suggests utilizing four criteria (1. No protected areas, 2. Geographic boundaries, 3. Governance/management, and 4. Biodiversity value) that reflect OECM's core characteristics in the first-stage selection process, carrying out the consensus-building process (stage 2) with the relevant agencies, and adding two criteria (3-1 Effectiveness and sustainability of governance and management and 4-1 Long-term conservation) and performing the in-depth diagnosis in stage 3 (full assessment for reporting). The 28 types examined in this study were generally compatible with OECMs (4.45-6.21/7 points, mean 5.24). In particular, the "Conservation Properties (6.21 points)" and "Conservation Agreements (6.07 points)", which are controlled by National Nature Trust, are shown to be the most in line with the OECM concept. They were followed by "Buffer zone of World Natural Heritage (5.77 points)", "Temple Forest (5.73 points)", "Green-belt (Restricted development zones, 5.63 points)", "DMZ (5.60 points)", and "Buffer zone of biosphere reserve (5.50 point)" to have high potential. In the case of "Uninhabited Islands under Absolute Conservation", the response that they conformed to the protected areas (5.83/7 points) was higher than the OECM compatibility (5.52/7 points), it is determined that in the future, it would be preferable to promote the listing of absolute unprotected islands in the Korea Database on Protected Areas (KDPA) along with their surrounding waters (1 km). Based on the results of a global OECM standard review and expert perception survey, 10 items were suggested as considerations when identifying OECM in the Korean context. In the future, continuous research is needed to identify the potential OECMs through site-level assessment regarding these considerations and establish an effective in-situ conservation system at the national level by linking existing protected area systems and identified OECMs.

• Journal of Korean Historical Folklife
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• no.46
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• pp.195-237
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• 2014

Palsapum are ornaments to reveal the purpose of commander of three naval forces as well as symbols to remember the greatness of admiral Yi, Sun-Shin. In 1966, ther were designated as a treasure No. 440 based on their value; however, they have not received attention from academia because they are relics from China. This study compares and analyzes the document, paintings, and relevant references from Korea and China focusing on Palsapum, understands their formal characteristics, and examines their historical value such as years and location of creation. As a result, the study determines five of them are original, but three of them were newly created by the later generations. The five, Dodogin (都督印, Commander's seal)·Yeongpae (令牌, Commander's tablet)·Gwido (鬼刀, Replica of the devil sword)·Chamdo (斬刀, Replica of the decapitation swor d)·and Gognapal (bugle) were created by Ming Dynasty before 1598, and delivered by the hands of General Chen Lin. The other three, Dokjeongi (督戰 旗, Battle flag)·Hongsoryeonggi (紅小令旗, Commander's flag)·and Namsoryeonggi (藍小令旗, Commander's flag), were created in 19th century by Joseon Dynasty. After analysis on the former relics, the study determines that they are not official relics with the dignity of Ming Dynasty but personal relics with regional characteristics; in other words, Palsamun are not the royal gifts from Emperor Shenzong to Admiral Yi, Sun-Shin. but personal momentoes left by General Chen Lin in the Tongjeyoung to celebrate the admiral. The names, variety, numbers, and appurtenances of Palsapum have been changed with time as follows. First, the scholars of Jeseon in 17the century only focused on Dodogin. It was certainly created in Ming Dynasty; however, it was a personal stamp, so considered to be not from the emperor but from General Chen Lin. Second, Palsapum was called Palsamul and consisted of 14 pieces of 8 kinds in 18the century, ; it is confirmed on the 「Dosul(圖說, stories with pictures of」 『Yi Chungmugong Literary Collection』 The sizes of five relics including Dodogin are similar to the records, but their patterns and shapes are exotic, or cannot be found in Joseon. Thus, they reflect the regional characteristics of Guangdong province. Third, they were called Palsapum, and consisted on 15 pieces of 8 kinds in 19th century; it is confirmed on , a sixteen-fold folding screen drawn by Shin, Gwan-Ho in 1861. The stamp box, tablet bag, and three flags were newly created to engrave Joseon style letters and patterns on damageable materials such as leather and cloth. The relics easy to be destroyed have been renewed even after 19th century. Last, there are many misunderstandings about Palsapum by governmental indifference and improper management of records even though they were designated as a treasure in very early times. Thus, authorities should be concerned with Palsapum to provide the measures for stable maintenance of the relics; this will let people remember not only the history of cooperation between Korea and China to stop the Japanese ambition, but also Admiral Yi, Sun-Shin and General Chen Lin to bring victory in Japanese invasions of Korea.

• 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.4
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• pp.137-164
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• 2011

In the past, retailers secured customer loyalty by offering convenient locations, unique assortments of goods, better services than competitors, and good credit policy. All this has changed. Goods assortments among stores have become more alike as national-brand manufacturers place their goods in more and more retail stores. Service differentiation also has eroded. Many department stores have trimmed services, and many discount stores have increased theirs. Customers have become smarter shoppers. They don't pay more for identical brands, especially when service differences have diminished. In the face of increased competition from discount storess and specialty stores, department stores are waging a comeback war. Growth of intertype competition, competition between store-based and non-store-based retailing and growing investment in technology are changing the way consumers shop and retailers sell. Different types of stores-discount stores, catalog showrooms, department stores-all compete for the same consumers by carrying the same type of merchandise. The biggest winners are retailers that have helped shoppers to be economically cautious, simplified their increasingly busy and complicated lives, and provided an emotional connection. The growth of e-retailers has forced traditional brick-and-mortar retailers to respond. Basically brick-and-mortar retailers utilize their natural advantages, such as products that shoppers can actually see, touch, and test, real-life customer service, and no delivery lag time for small-sized purchases. They also provide a shopping experience as a strong differentiator. They are adopting practices as calling each shopper a "guest". The store atmosphere should match the basic motivations of the shopper. If target consumers are more likely to be in a task-oriented and functional mindset, then a simpler, more restrained in-store environment may be better. Consistent with this reasoning, some retailers of experiential products are creating in-store entertainment to attract customers who want fun and excitement. The retail experience must deliver value to turn a one-time visitor into a loyal customer. Retailers need a tool that measures the full range of components that define experience-based value. This study uses an experiential value scale(EVS) developed by Mathwick, Malhotra and Rigdon(2001) which reflects the benefits derived from perceptions of playfulness, aesthetics, customer "return on investment" and service excellence. EVS is useful to predict differences in shopping preferences and patronage behavior of customers. EVS consists of items measuring efficiency, economic value, visual appeal, entertainment value, service excellence, escapism, and intrinsic enjoyment, which are subscales of experiencial value. Efficiency, economic value, service excellence are linked to the utilitarian shopping value. And visual appeal, entertainment value, escapism and intrinsic enjoyment are linked to hedonic shopping value. It has been found that consumers value hedonic experiences activated from escapism and attractiveness of shopping environment as much as the product quality, price, and the convenient location. As a result, many department stores, discount stores, and other retailers are introducing differential marketing strategy based on emotional/hedonic values. Many researches suggest that consumers go shopping not only for buying products but also for various shopping experiences. In other words, they seek the practical, rational value as well as social, recreational values in the shopping process(Babin et al, 1994; Bloch et al, 1994). Retailers may enhance buyer's loyalty to store by providing excellent emotional/hedonic value such as the excitement from shopping, not just the practical value of buying good products efficiently. We investigate the effect of perceived shopping values on the emotional experience and store loyalty based on the EVS(Experiential Value Scales) developed by Holbrook(1994), Mathwick, Malhotra and Rigdon(2001). This study assumes that the relative effect of shopping value dimensions on the responses of shoppers will differ according to types of stores and analyzes the moderating effect of store type(department store VS. discount store) on the causal relationship between shopping value dimensions and store loyalty. Emprical results show that utilitarian values of shopping experience and hedonic value of shipping experience give the positive effect on the emotional response of consumers and store loyalty. We also found the moderating effect of store types. The effect of utilitarian shopping values on the attitude toward discount store is higher than the effect of utilitarian shopping values on the attitude toword department store. And the effect of hedonic shopping value on the emotional response to discount store is higher than on the emotional response to department store. The empirical results reflect on the recent trend that discount stores try to fulfill the hedonic needs of consumers as well as utilitarian needs(i.e, low price) that discount stores traditionally have focused on