The role of trust in online shopping: A hierarchical relationship perspective

온라인 쇼핑에서 신뢰의 역할 - 위계적 관계 관점

Ther ol eoft r us ti nonl i nes hoppi ng :Ahi e r a r c hi c a lr e l a t i ons hi ppe r s pe c t i v e

이 재 남 고려대학교 경영대학 교수 ([email protected]) 강 민 형† 건국대학교 신산업융합학과 조교수 ([email protected])

ABST RACT

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Nowa da ys ,onl i nes hoppi ng ha sbe c omepopul a ra mong c ons ume r s .Ass uc h,ga i ni ng l oya lonl i ne s hoppi ng c us t ome r s ha s be c ome a r i s i ng c onc e r n f oronl i ne s hoppi ng ve ndor s .I n t hi s s t udy,we i nve s t i ga t e d t hehi e r a r c hi c a lr e l a t i ons hi psa mong Le wi c kia nd Bunke r ' st hr e edi f f e r e ntt ype soft r us t , na me l y,c a l c ul us - ba s e d t r us t ,knowl e dge - ba s e d t r us t ,a nd i de nt i f i c a t i on- ba s e d t r us t ,i n t he c ont e xtof onl i nes hoppi nga nd t he i ri mpa c t sonc us t ome rs a t i s f a c t i ona nd l oya l t y.A t ot a lof1 0 4r e s pons e sf r om onl i nes hoppi ngus e r swe r ea na l yz e dt ot e s tt hepr opos e dmode la ndi t shypot he s e sus i ngPa r t i a lLe a s t Squa r e s( PLS) .Ther e s ul t ss howe d t ha t ,i n t heonl i nee nvi r onme nt ,hi e r a r c hi c a lr e l a t i ons hi psbe t we e n di f f e r e ntt ype soft r us te xi s ta ndt ha t ,a mongt he m,knowl e dge - ba s e dt r us tha st hes t r onge s ti mpa c ton c us t ome rs a t i s f a c t i on.Thi sf i ndi ng i mpl i e d t ha tpr a c t i t i one r ss houl d f oc uson de ve l opi ng a ppr opr i a t e onl i nes t r a t e gi e sf orbui l di ngt r us t - ba s e dr e l a t i ons hi pswi t honl i nec us t ome r s .

Ke ywo r d s :Tr us t ,Ca l c ul us - b a s e dt r us t ,Kno wl e d g e - b a s e dt r us t ,I de nt i f i c a t i o n- b a s e dt r us t ,Onl i nes h o pp i ng

Ⅰ.I nt r oduct i on

Th eI n t e r n e t ,wh i c hwa so r i g i n a l l ys u p p o s e dt o a s s i s ti n US d e f e n s eo p e r a t i o n s ,h a sb e c o mea n i n f l u e n t i a l p a r t o f l i f e i n mo d e r n s o c i e t y . E- c o mme r c eh a sa l s ob e c o mea ni mp o r t a n tp a r to f b u s i n e s st r a n s a c t i o n s .Fo re x a mp l e ,i nSo u t hKo r e a , t h e ma r k e t s i z e o f o n l i n e s h o p p i n g ma l l s , e x c l u d i n g b u s i n e s s - t o - b u s i n e s s ( B2 B) a n d b u s i n e s s - t o - g o v e r n me n t ( B2 G) ,wa s2 5 . 6b i l l i o nUS d o l l a r si n 2 0 1 1 ,wi t h a n a n n u a lg r o wt h r a t eo f 1 6 . 7 % b e t we e n 2 0 0 7 a n d 2 0 1 1 ( St a t i s t i c sKo r e a , 2 0 1 2 ) .Ga i n i n g l o y a l c u s t o me r s h a s b e c o me a

†교신저자

논문접수일 :2013년 2월 8일;게재확정일 :2013년 8월 16일

r i s i n gc o n c e r nf o rma n y o n l i n es h o p p i n g v e n d o r s ( Ka l a k o t a& Wh i n s t o n ,1 9 9 7 ) .

Re s e a r c he r sa gr e e t ha tt r us ti sa n i mp or t a nt

f a c t or i n a c hi e v i ng t he o bj e c t i ve s o f onl i ne

b us i ne s sa n d a t t r a c t i ng c us t ome r st o pa r t i c i pa t e

i n onl i ne t r a ns a c t i on s ( Ri ndf l e i s c h & He i de ,

1 997 ;Chu ng,20 08) .Howe v e r ,t h i st r u s ti sq ui t e

d i f f i c ul tt o b ui l d a n d ma i nt a i n owi n g t o t h e

c ha r a c t e r i s t i c sofe - c omme r c e .Ch e u ng a nd Le e

( 20 06) ha ve d e s c r i b e d t he s e c ha r a c t e r i s t i c s i n

mo r e de t a i l . Fi r s t , t he r e e x i s t s a t i me ga p

b e t we e no nl i neo r d e r sa n dt hea c t ua la r r i va lo f

o r d e r e d pr o duc t s ;s e c on d,c us t ome r sc a n nots e e

o rt ouc ht her e a lpr odu c t s ,a ndt hu s ,f e e luns a f e

s e nd i ng s e ns i t i v e pe r s ona l a nd f i na nc i a l

i nf or ma t i on t h r ou gh t he I n t e r ne t ; l a s t l y , t he po t e nt i a lf orha r mf ule ve nt s ,s uc h a sf r a u d,t o oc c urof t e no ut we i ght h eb e n e f i t se x pe c t e df r o m ma ki ng onl i ne t r a n s a c t i ons ( Che un g & Le e , 20 06) . The r e f o r e , t h e na t ur e of t he o nl i ne s ho ppi nge n vi r o nme nti sc e r t a i nl yd i f f e r e n tf r o m t ha tofc onv e n t i o na lr e t a i l .

Ma nye mpi r i c a ls t udi e sha vee xa mi ne dt r us ti n t hec ont e xto fe - c o mme r c e .Ho we ve r ,t he s eha ve mos t l y i n ve s t i g a t e d t he a nt e c e de nt s a nd c ons e qu e n c e s o f t r us t . Ge f e n ( 20 00) , f or i ns t a nc e ,f o und t ha tf a mi l i a r i t y a nd t r u s ta f f e c t t he i n t e n t i o n t o pur c h a s e , or i n qui r e a bou t , pr odu c t s . Le e e t a l . ( 20 00) c on c l ud e d t ha t s e ve r a l f a c t or s s uc h a s c ompr e h e n s i ve i nf or ma t i on,s ha r e d va l u e ,a nd c ommu ni c a t i on c oul da f f e c tt r u s t ,a n dt hus ,e f f e c t i v e l yi nc r e a s e c us t ome rl oya l t y i n onl i ne s h opp i ng.Le e a nd Tu r ba n ( 20 01) e xpl or e d t he a n t e c e de nt s of c ons u me rt r u s ti nonl i nes ho ppi n ga ndc on f i r me d t ha tp e r c e i ve d i nt e gr i t y,whi c h i sba s e d on t he t r u s t wor t hi ne s soft h e o nl i neme r c h a n t ,di r e c t l y a f f e c t st h e c on s ume r s 'l e ve lo ft r u s ti n o nl i ne s ho ppi ng . Fur t h e r , Ki m a nd Ta d i s i n a ( 20 05) c l a i me d t h a t t hr e e f a c t or s - c omp a n y p r o f i l e , s up por t i n gor ga ni z a t i on ,a ndwe b s i t equ a l i t y- ha ve a n i mpa c t o n i ni t i a l t r u s t .Che ung a n d Le e ( 2 006 )a s s e r t e dt ha tt het r u s t wor t hi ne s so fo nl i ne me r c ha nt s ( i . e . , pe r c e i v e d i n t e gr i t y, pe r c e i v e d c ompe t e n c e ,a ndpe r c e i ve ds e c ur i t yc on t r ol )a nd t he e xt e r n a l e n vi r o nme nt ( i . e . , t h i r d- pa r t y r e c ogn i t i o n a nd l e g a l f r a me wo r k ) i n f l ue nc e c ons u me r s 'l e ve l s o ft r u s ti n onl i ne s hop pi ng . Un l i k e mo s t ot he r r e s e a r c he r s who ha ve pr i ma r i l y f oc us e d on c o ns ume r s ' t r us t i n ve nd or s , Lu e t a l . ( 2 010 ) e xa mi ne d t he a nt e c e de nt s of t r u s t , s u c h a s f a mi l i a r i t y ,

p e r c e i ve d s i mi l a r i t y,s t r uc t u r a la s s u r a nc e s ,a n d t r us tp r op e n s i t y ,a nd a r gu e d t ha tt r u s ta mo ngs t v i r t ua l c o mmuni t y me mbe r s a l s o a f f e c t s c on s ume r s 'i nt e nt i onst op ur c ha s e .

Al t ho ught h e r eh a v eb e e nal otofs t u di e so n o nl i ne t r us t , t h e y ha ve not de a l t wi t h t h e d e v e l o pme ntoft r us ta st i mepa s s e s .Ac c or d i ng t o Le wi c k ia nd Bu nke r ( 19 95) ,t r us te vol v e s o ve rt i me ,a n dd e v e l o pi ngonel e ve lo ft r us tc a n l e a d t o a s u bs e que nt , hi gh e r l e ve l of i t . Ro us s e a u e ta l .( 199 8)ha ve a l s o a r gu e d t ha t t r us tc a nn ol ong e rbev i e we da sas t a t i cs t a t e . As t he c onc e pt of t r us t i n e - c o mme r c e i s s i mi l a r t o t ha ti n t he r e a lwor l d ( Br y a n t&

Co l l e dg e , 200 2) , i t i s na t u r a l t ha t onl i ne s h opp i ng c u s t ome r s e xp e r i e n c e a s i mi l a r h i e r a r c hi c a ld e v e l op me n toft r u s t .

Ba s e d on t hi sa r g ume nt ,we ha ve e xa mi ne d t h e h i e r a r c hi c a lr e l a t i o ns hi p s be t we e n di f f e r e nt t y pe s oft r us ti n on l i n e s hop pi ng a s we l la s t h e i r i mpa c t on c us t ome r s a t i s f a c t i on a nd l o ya l t y .To d o s o,we a do pt e d Le wi c k ia nd Bu nke r ' s( 19 95)f r a me wo r k o fc l a s s i f y i n g t r us t i n t o t h r e e di f f e r e ntt y pe s :c a l c ul us - ba s e d t r us t , k nowl e d ge - b a s e d t r u s t , a n d i de nt i f i c a t i on - ba s e d t r us t .Wet he n t e s t e d ou rpr o pos e d mode la nd t h eh ypo t he s e si nv ol ve db yus i ngda t ac ol l e c t e d f r o m o nl i nes ho ppi n gu s e r s .Web e l i e vet ha tt h e r e s ul t s o f t hi s s t udy wi l l he l p pr a c t i t i o ne r s d e t e r mi n e t he t yp e oft r u s tt ha tc ont r i but e st o b ot hc us t ome rs a t i s f a c t i ona ndl o ya l t y ,a n dt h us , p r o vi dep r a c t i t i one r swi t h me a ni n gf u lgu i d e l i ne s t h a twi l le n a b l et h e m t o e f f e c t i ve l y bu i l d t r u s t a mon go nl i nec ons u me r s .

Ther e s toft h i sp a p e ri sor g a n i z e da sf ol l ows .

Se c t i o n2pr ovi d e sar e vi e w o fpr e vi o usr e s e a r c h

o n t r u s t a nd e xpl a i ns how i t wa s us e d t o

[Table 1] Research on Online Trust Authors(Year) Trust Types Awad and

Ragowsky (2008)

Online trust (trust of the web site)

Chang and

Wong (2010) Trust (Ability, Friendliness, Safety, and Predictability) Flavián et al.

(2006)

Website user trust (Perceived website honesty, benevolence, and competence)

Gefen (2002) Ability-trustworthiness, Integrity-trustworthiness, Benevolence-trustworthiness Hwang and

Lee (2012)

Online trust (Three

dimensions): 1) Integrity, 2) Ability, 3) Benevolence Li et al.

(2006) Trust in a web site Lu et al.

(2011) Trust in Internet payment, Initial trust in mobile payment

Pavlou and Gefen (2004)

Institution-based trust (feedback mechanisms, third-party escrow services, and credit card guarantees), Trust in intermediary, Trust in the community of sellers

Ridings et al.

(2002)

Trust (Two dimensions: 1) Ability of other members, and 2) Benevolence/integrity of other members)

Sun (2010)

Cognitive trust in intermediary, Cognitive trust in buyers, Affect trust in intermediary, Affective trust in buyers Tan and

Thoen (2001)

Party trust, Control trust, Transaction trust Vance et al.

(2008) Trusting beliefs in IT artifact, Institution-based rust

de ve l op t h e p r o pos e d r e s e a r c h h ypo t he s e s a nd t he r e s e a r c h mod e lf ort h i s s t udy .Se c t i on 3 de s c r i be s our r e s e a r c h me t hod ol ogy , whi l e s e c t i on4e xpl a i nst hea n a l y s i sa nds t udyr e s ul t s by t e s t i n g t he me a s ur e me nt a nd s t r uc t u r a l mod e l s .Se c t i on 5 di s c u s s e s ourf i ndi n gs a nd t he i r a c a d e mi c a nd pr a c t i c a li mpl i c a t i ons ,t he l i mi t a t i ons of ou r s t udy a nd pos s i b l e f ut u r e r e s e a r c hd i r e c t i on s ,a ndf i na l l y,ourc onc l us i on .

I I .Theor et i calDevel opment 1.Onl i neTr ust

Pop ul a r i t y of o nl i ne s h opp i ng ma l l l e d t o muc hr e s e a r c hono nl i net r us t ,wh i c hi sc r i t i c a l i nac ons u me r ’ spu r c ha s i ngbe ha vi o r( Ta b l e1) . Pr e vi ou ss t u di e so non l i n et r u s tc a nbegr oup e d i nt ot wot ype s-“ t r u s t - wh om”a nd“ t r us t - wha t . ”

“ Tr u s t - whom” r e s e a r c h di f f e r e nt i a t e d d i ve r s e c oun t e r pa r t so fo nl i net r u s t ,s uc ha st hi r dpa r t y e s c r ow s e r vi c e s , i nt e r me di a r y, c ommu ni t y of s e l l e r s ,e t c .( Pa v l o u & Ge f e n,200 4) .On t he ot he r ha nd ,“ t r u s t - wh a t ” r e s e a r c h di s t i n gui s h e d va r i o us s our c e s of o nl i ne t r us t ,s uc h a s t he c oun t e r pa r t ’ s a bi l i t y, f r i e n dl i ne s s , s a f e t y, e t c . ( Ch a n g & Won g, 2 010 ; Le e e t a l . 20 09) . Al t ho ugh t he s e s t ud i e s pr ovi de d e t a i l e d de s c r i pt i on s of t h e s ub- di me ns i on s of o nl i ne t r u s t , c on s i de r a t i o n of t h e i nt e r r e l a t i o ns hi p s a mongt hes ub- di me ns i onsofo nl i net r u s ti ss t i l l l a c ki n g. I n t hi s p e r s pe c t i v e , Le wi c ki a nd Bunk e r ’ s ( 1 995 ) s t u dy i s not e wo r t hy . Th e y s ug ge s t e d s e que nt i a l r e l a t i ons h i p s a mon g t he s ub - di me ns i on s of t r u s t i n t r u s t b ui l di ng , a dop t i n gady na mi ca p pr o a c h. Th i spe r s p e c t i ve c a na l s obeh e l p f ulf oro nl i nes ho ppi ngve nd or s

b e c a us e t he y n e e d t o bu i l d t r u s t i n g r e l a t i ons wi t ho nl i nec ons u me r s .

2.Tr usti nt r ansact i ons

The ba s i s ofLe wi c k ia n d Bu nke r ' s ( 199 5) t he or e t i c a l f r a me wor k wa s d e v e l op e d mu c h e a r l i e rby ot he rr e s e a r c he r s .I ti s a c t ua l l y a n up da t e dve r s i o nofSha pi r oe ta l . ' s( 199 2)wo r k , wh i c h f o c u s e d on de t e r r e nc e - ba s e d t r u s t , kn owl e dg e - ba s e d t r us t , a nd i de nt i f i c a t i o n- ba s e d t r u s t .Sha pi r o e ta l . ' s ( 19 92) s t ud y,i n t u r n , r e f e r r e d t o Ke l ma n ' s ( 1 958 ) wor k, whi c h i nvo l ve s c ompl i a nc e , i de nt i f i c a t i on , a nd i nt e r na t i ona l i z a t i on a s s ou r c e s of i nt e r na t i ona l i z a t i on t y pol o gy. Amon g t he s e c l o s e l y r e l a t e d f r a me wor ks , we de c i de d t o c hoo s e Le wi c k ia nd Bu nke r ' s ( 1 995 )b e c a us e , un l i k epr e v i o usa pp r o a c he swhi c h h a v ef o c u s e d on t he a nt e c e de nt sa n d c on s e q ue nc e soft r u s t , t hi s f r a me wor k i nv e s t i ga t e s t he dyn a mi c s of t r u s t .

Wi t hr e ga r dt ot hec on c e ptoft r u s t ,t hi ss t udy c ons i de r s t wo ma j or p e r s pe c t i v e s ( i . e . , t he e c o nomi c a n d ps yc ho l ogi c a l pe r s pe c t i ve s ) , a l t h oug h t h e c o ns t r u c t of t r u s t ha s be e n r e s e a r c he d a c r os s s e v e r a l di f f e r e nt di s c i pl i ne s a nd f r o m d i ve r s e vi e wpo i n t s ( Bha t t a c ha r y a e t a l . ,1 998 ) .Fr om t hee c ono mi cpe r s pe c t i v e ,t r u s t i nvo l ve s t he t r a ns a c t i on c o s t s o f e xc ha ng e d go ods .A c u s t o me rt ha te nt e r s i nt o a ma r ke t t r a ns a c t i o n mi ghtbe c onf r o nt e d wi t h gu i l e f ul ve nd or st ha ta c to ppo r t un i s t i c a l l y.Ac c or d i ng t o Gr e ys ke ns e t a l . ( 19 96) , t hi s b e h a v i o r a l un c e r t a i nt y l e a ds t o va r i o us c os t s . I f t r us t pr e v a i l s , ho we ve r , t h i s u nc e r t a i nt y c a n be r e du c e d, a nd l e s s e r e f f or t s a r e ne e de d wi t h r e ga r dt oc o nt r a c t i n ga ndmon i t o r i ng( Ri n df l e i s c h

& He i de ,199 7) .Tr u s tc a na l s ol o we rt hec os t of c us t ome r a c q ui s i t i o n a nd r e t e nt i on ( Ki m, 20 12) .Whe n b us i ne s sr e l a t i o nsa r ema i nt a i n e d , t he us e ofe s t a bl i s he d p r oc e dur e s r e du c e s t he

n e e dt ove r i f yor d e r sa ndr e c o nc i l ei n voi c e sa nd b i l l i ng s t a t e me nt s( Ca nno n & Ho mbur g,20 01;

Da hl s t r om & Nyga a r d ,199 9) ,whi c h r e d uc e s a c qui s i t i onc os t s .Wi t hr e ga r dt or e t e n t i o nc os t s , t r us t r e du c e s de l a y s b e t we e n t he or de r a nd u t i l i z a t i onofp r o duc t s( Noor de wi e re ta l . ,1 990 ) a nd l e a ds t o s a vi ng s o n i n ve nt or y,i ns ur a n c e , a nds t or a g e .

Fr om t he e c o nomi c pe r s pe c t i ve , i n di vi du a l s ma ke t r us tc ho i c e s ba s e d o n p e r c e pt u a lc os t s a nd be ne f i t s o f pr od uc t s ( Wi l l i a ms o n, 19 93;

Zhoue ta l . ,20 09) ,me a n i ngt h a tt r us ti sb a s e d o n c a l c ul us ( Wi l l i a ms on, 1 993 ) a nd ma i nl y i n vol ve s s e c on dha nd i n f or ma t i o n a n d n o pr i o r e xp e r i e n c e( Ba ,20 01;Sh a p i r oe ta l . ,1 992 ) .Thi s i sbe c a u s ei nd i v i dua l s" a t t e mptt ode t e r mi net he n a t u r eoft he i ri nt e r d e p e n de nc e ,wha tt he y wi l l g e tf r om t h e r e l a t i o ns hi p a n d gi ve t o i ta nd wha tt h e i rr i s k sa ndv ul ne r a bi l i t i e sa r e "( Le wi c ki

& Bunk e r ,1 995 ) .

Fr om t he ps yc ho l ogi c a lp e r s pe c t i v e ,t r us ti s s e e n a sa hi gh l y a f f e c t i ve s t a t e c a u s e d by a n a c t or ' sa bi l i t yo ri n a b i l i t yt or e a c hc e r t a i ngo a l s ( La z a r us , 19 91; Oa t l e y , 1 992 ) . Soc i a l p s yc hol o gi s t s v i e w t r us t a s a n i n t e r pe r s on a l p he nome no n,a n d t hu s , f oc us o n t r a n s a c t i ons b e t we e n i n di vi du a l s ( Ch e u ng & Le e , 2 006 ) . Ro t t e r( 1 971 )h a v ede f i ne dt r us ta sage ne r a l i z e d e xp e c t a t i o na bou tt h eb e h a v i oro fi n di vi du a l si n a t r a ns a c t i on .Si mi l a r l y,Le wi c kie ta l .( 1 998 ) a nd Ma ye re ta l .( 19 95)ha vede f i n e d t r u s ta s b e i n g c o nf i d e n ta bo utapo s i t i veou t c omei n a t r a n s a c t i on.

Emot i on sa l s od i r e c t l ya n di mme di a t e l ya f f e c t

b e h a v i or ( Be n- Ze ' e v, 20 00; Fr i j da , 19 87) .

Ne ga t i v e e mot i ons ha ve be e n f ou nd t o ha ve

s e ve r a l e f f e c t s on t r a ns a c t i on s . For e xa mpl e ,

[ Fi gur e1]Re s e a r c hMode l ne ga t i vee mot i onsha veb e e ns ho wnt oa u gme nt

ne ga t i ve f e e l i ng s t owa r dsot h e rp e o pl e ( Ve i t c h

& Gr i f f i t t ,200 6) .Th i s me a ns t h a t e mot i on s s uc h a sf e a ra nd a ng e rmi ghtc a us epe opl et o wi t hd r a w f r om at r a ns a c t i ona n da c ti namor e ho s t i l ewa yt owa r dt hep e r s onwh om i ti nv ol ve s . Re s e a r c he r s ha ve a l s o f oun d t h a t p os i t i ve e mot i ons a l l e v i a t e h os t i l e a t t i t ud e s ( Ba r on, 20 06) , e nha nc e c onc e s s i o n ma ki ng ( Pr ui t t &

Ca r ne va l e , 199 3) , a nd f a c i l i t a t e wi n- wi n a gr e e me n t s ( Ho l l i n gs he a d & Ca r n e v a l e ,199 0) . La wl e r a nd Yoo n ( 1 993 ) c l a i m t ha tpos i t i ve e mot i ons s t r e ngt he n c o mmi t me nt be ha vi or . Sa l o ve y e t a l . ( 19 93) h a v e s ug ge s t e d t ha t po s i t i ve e mo t i o ns p r o mot e pe r s i s t e nc e du r i ng t r a ns a c t i o ns .Kuma r( 1 997 )h a ss hownt h a tg ood ou t c ome spr o duc e p os i t i v e e mot i ons ,e s p e c i a l l y i ns i t ua t i o nswh e r et h eb e h a v i o r so fs e l l e r sa nd bu ye r sa r es t i l lun de t e r mi ne d.Li ke wi s e ,whe na t r a ns a c t i o n l e a d st o a po s i t i ve o ut c o me ,a c t or s e xhi bi tp os i t i v e e mot i on s ,wh i l e ba d out c ome s l e a dt on e g a t i vee mot i on s .

The a f o r e me nt i one d s t udi e s d e mo ns t r a t e t ha t t heke ya s p e c t soft r u s t ,f r om t h ep s yc hol og i c a l pe r s p e c t i ve , i nc l ud e a n e x pe c t a t i o n o f g ood ou t c ome s ,i nt h ec a s eo fkno wl e dge - b a s e dt r u s t , a nd pos i t i ve e mot i ons , i n t h e c a s e of i de nt i f i c a t i on - b a s e dt r u s t .Thel i nkb e t we e nt he s e t ype s of t r us ti s t ha t t h e y a r e bo t h ma i n l y ge ne r a t e d ba s e d o n f i r s t ha nd i nf or ma t i on, t hr oug h di r e c t i nt e r a c t i o n a n d c ommu ni c a t i on be t we e n p a r t i e s( Ba ,20 01;Le wi c ki& Bu nke r , 19 95) . Howe v e r , a t t h e s t a g e of kn owl e dg e - ba s e d t r u s t ,one pa r t y ( t he bu ye r ) ge ne r a l i z e s e xpe c t a n c i e s a b out t he ot he r ( t he ve nd or ) ' s be ha vi or a l p r e di c t a b i l i t y whi l e ga t he r i ng mo r e i n f o r ma t i o n i n t h e f o r m of

e xp e r i e n c e , wh e r e a s a t t he s t a ge o f i d e n t i f i c a t i on- ba s e d t r u s t , on e p a r t y f ul l y i n t e r na l i z e s t h e o t he r ' s de s i r e s a n d i nt e nt i ons t h r ou gh s e ve r a lt r a ns a c t i o ns ,whi c h r e qui r e not o nl y c ol l e c t e d i nf or ma t i on b uta l s o e mot i on a l c on ne c t i on s( Ve l e z ,2 000 ) .

Then ot i on oft r us th a sbe e n e x a mi n e d wi t h r e ga r d t o d i f f e r e n tdi me ns i onsove rpa s tye a r s . Ro us s e a ue ta l .( 199 8) ,ho we ve r ,a r g uet ha ti ti s n e c e s s a r y t o not on l y c l a s s i f y di f f e r e nt p e r s pe c t i v e s on t r us tb uta l s o i n t e gr a t e t h e m wi t he a c hot he r .Wi t ht hi si nmi nda ndwi t ht h e a i m ofun de r s t a ndi n gt hedy na mi c so ft r us t ,t hi s s t u dy pr op os e s t h a ta h i e r a r c hi c a lr e l a t i on s hi p e xi s t s a mo ng di f f e r e nt t yp e s of t r u s t a nd i n ve s t i g a t e st h e s ed yna mi c s 'i mpa c tonc us t ome r s a t i s f a c t i o na ndl oya l t y.

3.A modeloft r usti nt r ansact i on

Fi g ur e1de pi c t st her e s e a r c hmod e lt ha twa s d e s i g ne d f ors t u dyi ng t her e l a t i on s hi psb e t we e n v a r i oust ype soft r u s t( h i e r a r c hi c a ld e v e l o pme nt ) a nd t he i ri mp a c to n c us t ome rs a t i s f a c t i on a n d l o ya l t y .

3. 1 Thr eet ypesoft r ust

I th a sb e e ns u gge s t e dt ha ta tt hebe gi nn i ngo f

a bus i ne s s r e l a t i o ns hi p , i ni t i a l t r us t i s of t e n c a l c ul us - ba s e d( Ba ,2 001 ;Sha pi r oe ta l . ,199 2) . Le wi c ki a n d Bunk e r ( 19 95) d e f i ne c a l c ul us - ba s e d t r us t a s a n ong oi ng e c o nomi c c a l c ul a t i o n i n whi c h b e n e f i t s a n d c o s t s a r e e va l u a t e d. Ba s e d on s e c on dha nd i nf or ma t i on, pa r t i e s t h a t e n ga ge i n a t r a n s a c t i on ma ke pe r c e pt ua lr a t i ona lc h oi c e s ,we i g hi ng u p l os s e s a ndb e n e f i t s ,be f o r et he yd e c i dewh e t h e rt ot r us t e a c hot he rorn ot .Ast hi st ypeo ft r us ti sba s e d on a n e c o nomi c e xc ha nge , i n or de r f or de t e r r e nc et obeat hr e a t ,po s s i bl el o s s e sh a v et o ou t we i g h t he e s t i ma t e d ga i ns i n vol v e d i n a t r a ns a c t i o n. I n s u c h c a s e s , mo ni t or i n g a nd r e po r t i ng ha ve t o b e i mp l e me nt e d, s o t ha t pu ni s hme nt sc a nb ei mp os e d.

Pa r t i e si n vol ve d i n t r a n s a c t i onsma y be c ome i nc r e a s i n gl y a wa r e o f a nd f a mi l i a r wi t h o ne a not he r t hr oug h r e p e a t e d i nt e r a c t i on s . Th i s a l l o ws t r us t t o gr o w t o a hi gh e r a nd qu a l i t a t i ve l y di f f e r e nt l e v e l , kn owl e dg e - ba s e d t r u s t , wh i c h i s de f i ne d a s g e n e r a l i z e d e xpe c t a nc i e s a bou t a n ot he r ' s b e h a v i o r a l pr e d i c t a bi l i t y b a s e d on g a t he r e d i nf or ma t i on ( Le wi c k i& Bun ke r ,19 95) .Wi t ht h e i rf i r s t ha nd e xpe r i e nc ea n d s ub s e q ue ntpo s i t i vee xpe c t a t i on s i n mi nd ,c u s t ome r ss t a r tbui l di n g t hi st ype of t r u s tdu r i ngf r e que nte n ga ge me n ti nt r a ns a c t i on s ( Le wi c k i& Bu nke r ,1 995 ) .He n c e ,wep r op os e t hef ol l owi n gh ypo t h e s i s :

H1. 1 : Ca l c u l u s - b as e d t r u s tpo s i t i v e l y a f f e c t s k nowl e dge - b as e dt r u s t .

Unl i ke c a l c ul u s - ba s e d t r us t ,kno wl e dge - ba s e d t r u s t i s ba s e d o n t h e e xpe c t a t i on of goo d ou t c ome s f r om a ps yc ho l o gi c a l pe r s pe c t i v e .

Howe v e r , b ot h t y pe s of t r u s t pr ovi d e a f ou nda t i on f ora n e ve n hi g he rl e ve lo ft r u s t : i d e n t i f i c a t i on- ba s e dt r us t ,whi c hi sde f i n e da st he c on s e q ue nc e o f t he de ve l o pme ntof a t t r i bu t e s s u c h a s a c o l l e c t i v e i de nt i t y, ge ogr a phi c a l p r o xi mi t y ,a nd ac ommi t me n tt o s ha r e d v a l u e s ( Le wi c ki& Bun ke r ,199 5) .I ti nd i c a t e st ha te a c h p a r t y c o mpl e t e l y und e r s t a n ds wha t t he ot he r c a r e sa b outa n d i se na bl e d t o a c ta sa n a ge nt b a s e d o n i t s f ul l a wa r e n e s s of t h e o t h e r ' s p r e f e r e n c e ( Sha pi r o e ta l . ,199 2) .We be l i e v e t h a ti d e n t i f i c a t i on- ba s e d t r u s tc a n be bu i l tby p r o vi di ng mor e i nt e r na l i z e d a n d c us t o mi z e d s e r vi c e s t o c us t ome r s . Ac c or d i ngl y, we h ypo t he s i z et hef ol l owi n g:

H1 . 2:Kn owl e d ge - ba s e dt r u s tp os i t i v e l yaf f e c t s i d e n t i f i c at i on- bas e dt r us t .

3. 2 Cust omersat i sf act i on

Ol i ve r ( 1 999 ) de f i ne s s a t i s f a c t i o n a s t h e p e r c e p t i o n of pl e a s ur a bl e f ul f i l l me nt of a s e r vi c e .As i ti s ge ne r a l l y a s s ume d t o be a s i g ni f i c a n t d e t e r mi na nt of r e p e a t s a l e s , t hi s c on c e pt ha s be c ome i mpor t a n t f o r c us t o me r - o r i e nt e d o r ga ni z a t i o ns ( Sz y ma n s ki &

He na r d, 2 001 ) . I t i s kno wn t h a t c u s t ome r

s a t i s f a c t i o n i s l i nk e d t o t r us ti n r e l a t i on s hi ps

( Ba u e r e t a l . ,20 02; Ke n ne dy e t a l . ,2 001 ) .

Se l ne s( 1 998 )s t a t e st h a ts a t i s f a c t i o n a nd t r us t

a r ec o nc e p t st ha tr e f e rt ot heg l oba le va l ua t i o ns ,

f e e l i ng s ,ora t t i t u de sofon epa r t y wi t h r e s pe c t

t oa n ot he r ,a ndt ha ta l t hou ght he ya r ed i f f e r e n t

v a r i a b l e s , t h e y a r e r e l a t e d t o on e a no t he r .

Ac c o r di n g t o J o hns o n a nd Gr a y s on ( 20 05) ,

e xp e c t a t i o nsma ybel i nke dt oi nt a ngi b l ef a c t or s ,

s uc h a s t he f e e l i ngs ofj oy ,f e a r ,a nd a ng e r a s s oc i a t e d wi t h a s e r vi c e e xpe r i e nc e , or t he f u l f i l l me n tofc e r t a i ns t a n da r ds .

Buy e r sf e e ls a t i s f i e dwhe nt he ype r c e i v et ha t a r e qui r e d l e ve lo fho ne s t y ,be ne vol e nc e ,a nd t r u s tha sb e e nf u l f i l l e di nat r a ns a c t i onp r oc e s s . Bye x a mi n i n gs a mp l e sf r om awe bs i t e ,Fl a vi án e ta l .( 2 006 )f ou ndt ha tahi gh e rl e ve loft r us t c oul d a c ta sa n i n s t r ume ntt o e nge nd e rgr e a t e r c us t ome rs a t i s f a c t i on .Al t hou ght hedi r e c ti mp a c t oft r u s tons a t i s f a c t i onha sbe e nr e l a t i ve l ywe l l i nve s t i ga t e d ,p r i ors t ud i e s p r o vi de no e vi de nc e of a r e l a t i ons h i p be t we e n t h e a f or e me nt i on e d t hr e e t y pe s of t r us t a nd s a t i s f a c t i on i n r e a l t r a ns a c t i o ns .Wi t ht hi si nmi nd,weh ypo t he s i z e t hef ol l owi n g:

H2. 1 : Ca l c u l u s - b as e d t r u s tpo s i t i v e l y a f f e c t s c us t ome rs at i s f a c t i on .

H2. 2 :Knowl e dge - bas e dt r us tpos i t i v e l ya f f e c t s c us t ome rs at i s f a c t i on .

H2. 3 : I de nt i f i c a t i o n- b as e d t r u s t pos i t i v e l y af f e c t sc us t o me rs at i s f ac t i on.

3. 3Cust omerl oyal t y

As me nt i on e d a bov e , un l i k e c a l c ul us - ba s e d t r u s t a nd kno wl e dge - ba s e d t r u s t , i de nt i f i c a t i on - b a s e dt r u s ti se nha nc e dbyas t r ong e mot i ona lb ondbe t we e nt h epa r t i e sb a s e dona s e ns e of s h a r e d goa l s a n d va l ue s .He nc e ,i n c ont r a s tt o c a l c ul us - ba s e d a n d kno wl e dge - ba s e d t r u s t , i d e n t i f i c a t i on- ba s e d t r us t i s a mor e e mot i ona l l ydr i v e np he nome no na ndi sgr o und e d i n pe r c e pt i ons o f i nt e r pe r s ona l c a r e ,c onc e r n , a nd mut ua ls a t i s f a c t i o n.Re i c hh e l d a nd Sa s s e r ( 1 990 ) s ugg e s t t h a t p e r s on a l i z a t i on e nha nc e s

r e pe a tvi s i t i ng,a nd webe l i e v et ha ts e l l e r sc a n r e t a i n c us t o me r s ' l o ya l t y a s t h e y i nt e r na l i z e c us t o me r s ' de s i r e s by pr o vi di ng pe r s o na l i z e d s e r vi c e s .I not h e rwo r ds ,c us t o me r swh or e c e i v e mo r ec us t omi z e da nd i n t e r na l i z e d s e r v i c e sf r om o nl i nes e l l e r sa r el i ke l yt oe s t a bl i s ht he i rl oy a l t y t o t he s e s e l l e r s a nd r e pur c ha s e pr odu c t s o r s e r vi c e s f r o m t he m.Wi t h t h i s i n mi nd ,we h ypo t he s i z et hef ol l owi n g:

H3 . 1: I d e n t i f i c at i on- ba s e d t r us t p os i t i v e l y a f f e c t sc us t ome rl o y a l t y .

Cus t ome r l oy a l t y, by de f i ni t i on, i mpl i e s a d e e p c ommi t me n t t o a p r o duc t o r s e r vi c e p r o vi de r ( Ol i ve r ,19 99) .Be f or e e xpl o r i ng t h e r e l a t i ons h i p be t we e n c us t ome r s a t i s f a c t i on a n d l o ya l t y ,h owe v e r ,we mu s tc on s i d e r t h a ta ny d e f i ni t i on of c us t o me r l o ya l t y n e e ds t o d i s t i n gui s h be t we e n a t t i t udi na l l oy a l t y ( t r ue l o ya l t y )a ndbe ha vi o r a ll o ya l t y( s pu r i ou sl o ya l t y ) ( Da y,19 69) .Be ha vi or a ll o ya l t yi swhe nab uye r s t a yswi t h as e l l e runt i lt h ebu ye rc a n f i n d a b e t t e ra l t e r n a t i vei nt hema r ke t pl a c e( Da y ,19 69;

Di c k& Ba s u,1 994 ) .At t i t udi n a ll oya l t y,ont h e o t he rha nd ,i sat r uec o mmi t me ntt o t heot he r p a r t y a n d i s n ote a s i l y s wa y e d by a s l i ght l y mo r e a t t r a c t i ve a l t e r na t i v e ( Da y, 196 9) . We b e l i e vet h a ti ti ss u i t a bl et of oc usona t t i t udi n a l l o ya l t yi nt hi ss t ud y,c on s i d e r i ngt h el o w s e a r c h c os ti nt heo nl i nee nvi r onme nt .

Al t ho ughma nys t u di e sc l a i m t ha ts a t i s f a c t i on

a l on e i s nota p r e di c t o r of c u s t o me r l oy a l t y

( Bl oe me r& DeRuy t e r ,1 998 ;Va nLoo ye ta l . ,

1 998 ;Wi l s on ,20 02) ,ot he r sha vede mons t r a t e d

t h e s i gn i f i c a n t r e l a t i ons h i p be t we e n c u s t ome r

[ Ta b l e2]Sa mp l eCh a r a c t e r i s t i c s (a) Gender

Gender Frequency Percentage

Male 35 33.7%

Female 69 66.3%

Unanswered 0 0%

Total 104 100%

s a t i s f a c t i on a n d l o ya l t y ( Ol i ve r ,199 9;Se l n e s , 19 93) .Cr o s bye ta l .( 199 0)f i ndt h a ts a t i s f a c t i on i s a c r i t i c a l e l e me nt t h a t a f f e c t s l on g- t e r m r e l a t i o ns hi psa ndc us t o me rl o ya l t y .Un l i k eot h e r s t udi e s t ha t ha ve e xa mi ne d t he r e l a t i o ns hi p be t we e n c us t ome r s a t i s f a c t i o n a nd l oy a l t y i n of f l i nee nvi r onme nt s ,Sh a n ka re ta l .( 20 03)f o c u s ont heo nl i nee nv i r on me n t ,f i n di ngt ha tc us t ome r s a t i s f a c t i on e nh a n c e s l o ya l t y . Thu s , we hy pot he s i z et h ef o l l o wi ng :

H3. 2 :Cu s t ome rs a t i s f a c t i on po s i t i v e l y a f f e c t s c us t ome rl o y a l t y .

I I I .Met hodol ogy 1.Measur ement

Thi s p a p e r i n vol ve s t h e f o l l o wi ng f i ve c ons t r uc t s :c a l c ul u s - ba s e dt r u s t ,kno wl e dge - ba s e d t r u s t , i de nt i f i c a t i on - b a s e d t r us t , c us t o me r s a t i s f a c t i on,a ndc us t ome rl oy a l t y.Th el a s tt wo c ons t r uc t sha ve b e e n e mp l oye d i n ma ny ot he r r e s e a r c ha pp r oa c he s ,a ndwet hu sa dop t e ds ome of t he i r me a s ur e s . Mor e s pe c i f i c a l l y, we de ve l ope do urme a s ur e sofc u s t ome rl oy a l t yby a dop t i n gt ho s eus e di nt h ewor ko fZe i t ha mle t a l .( 19 96) .Tome a s ur ec us t ome rs a t i s f a c t i on ,we a dop t e dt heme a s ur e sus e dbyOl i v e r( 19 80)a n d mod i f i e d t he m t o s ui t t he c ont e xt o f our r e s e a r c h.We a l s o de ve l op e d t h e me a s ur e s of c a l c ul us - ba s e d , kno wl e dge - b a s e d, a nd i de nt i f i c a t i on - b a s e d t r u s t by c onv e r t i ng t he or i gi na l de f i ni t i on s of t he c o ns t r u c t s . The qu e s t i on na i r e s t h a t we e mpl oy e d i n vol v e d f i v e - poi n tLi ke r ts c a l e s ,c on s i s t i ng of2 9 i t e ms t ha t me a s u r e d r e s pon de nt s ' pe r c e pt i ons ( s e e

App e n di xA) .

2.Dat acol l ect i on

Af t e r ou r r e s e a r c h i ns t r u me n t s we r e d e v e l o pe d, we d i s t r i but e d s ur v e y s he e t s t o g r a du a t ea ndun de r g r a dua t es t ud e n t sa tama j o r u ni ve r s i t y i n Kor e a . Ac c or di ng t o a r e c e nt r e por ton on l i n e s hop pi ng e x pe r i e nc e by a g e g r o up a mo ng i ndi vi d ua l sove rt he a ge o f1 2, I nt e r n e tus e r si nt he i r20 sha dt heh i ghe s tr a t e o fe xp e r i e n c ewi t h onl i net r a ns a c t i o ns( 90. 4%) , f ol l owe d by us e r s i n t he i r 30 s ( 78. 2%) , t e e na ge r s ( 7 1. 4%) , a nd us e r s i n t he i r 40s ( 49 . 0%) ( Ki m e ta l . ,201 1) .Cons i d e r i ng t hi s r e s ul t ,o urs a mpl eofu ni ve r s i t ys t ude nt sma ybe h i ghl yr e pr e s e nt a t i v eoft hep opu l a t i onofa c t u a l o nl i nes ho ppi n gu s e r s .

Si n c ewepe r s o na l l y c on duc t e d t h es u r ve y i n

c l a s s r oo ms , t he nu mbe r of di s t r i b ut e d a nd

r e c e i ve dq ue s t i o nna i r e swa si d e n t i c a l .A t ot a lo f

1 08s u r v e ys h e e t swe r edi s t r i b ut e da n dr e t ur ne d,

b ut t wo we r e d i s r e ga r d e d b e c a us e s e v e r a l

a ns we r swe r emi s s i ngi nt he m.I na d di t i on,t wo

c omp l e t e d s ur ve yswe r ee l i mi na t e d b e c a us et he

r e s pon de nt s ha d not ma de a ny on l i n e

t r a n s a c t i onsi n t h e p r e c e di n g s i x mon t h s .On e

h und r e d a nd f ou rr e s p ons e swe r e us e d i n t h e

a na l ys i s .Thec ha r a c t e r i s t i c soft her e s po nde nt s ,

s u c ha sge nd e r ,a ge ,l e ng t ho fe xp e r i e n c ewi t h

(b) Age

Age Frequency Percentage

Under 20 1 1%

21 ~ 30 90 86.5%

31 ~ 40 12 11.5%

41 ~ 50 1 1%

Over 50 0 0%

Unanswered 0 0%

Total 104 100%

(e) The amount of money spent for online trans.

Money (Korean Won) Frequency Percentage Under 10,000 1 1%

10,000 ~ 50,000 14 13.4%

50,000 ~ 100,000 25 24.0%

100,000 ~ 200,000 24 23.1%

200,000 ~ 300,000 11 10.6%

300,000 ~ 400,000 13 12.5%

400,000 ~ 500,000 1 1%

Over 500,000 13 12.5%

Unanswered 2 1.9%

Total 104 100%

(d) The number of online trans. for last 6 months

Times Frequency Percentage

Once 5 4.8%

2 ~ 3 36 34.6%

4 ~ 5 24 23.1%

6 ~ 10 17 16.3%

11 ~ 15 6 5.8%

16 ~ 20 8 7.7%

Over 20 6 5.8%

Unanswered 2 1.9%

Total 104 100%

(c) The experience of online transaction

Year Frequency Percentage

Under 1 6 5.8%

1 ~ 2 15 14.4%

2 ~ 3 33 31.7%

3 ~ 5 30 28.9%

Over 5 18 17.3%

Unanswered 2 1.9%

Total 104 100%

on l i n e t r a ns a c t i on s , n umbe r of o nl i ne t r a ns a c t i o nsi nt hel a s ts i xmo nt hs ,a nda mou nt of mon e y s pe nt on on l i n e t r a n s a c t i ons , a r e

s u mma r i z e di nTa bl e2.Th es a mp l ec o ns i s t so f 3 3. 7 % ma l e a nd 66. 3 % f e ma l es t u de nt s .Si nc e t h ep a r t i c i pa nt swe r euni ve r s i t ys t u de nt s ,mo s to f t h e m we r e be t we e n t he a g e s o f 2 1 a nd 3 0.

Al mos t8 0% oft he m ha du s e don l i n es h opp i ng ma l l sf o rov e rt woy e a r sa ndha dma det wot o t e nt r a ns a c t i on sov e rt hel a s ts i xmo nt hs .

3.Anal ysi smet hod

I n t hi s s t ud y,a c o nf i r ma t o r y a p pr oa c h wa s c ho s e n ,us i ng Pa r t i a lLe a s tSqu a r e s( PLS) .We u s e d t h e PLS- Gr a p h ve r s i on 3 . 0 t o a na l y z e me a s ur e me nta nds t r u c t u r a lmod e l s .Wes e l e c t e d PLSf ort h ed a t aa n a l ys i si nt hi ss t ud yba s e don t h r e er e a s o ns .Fi r s t ,PLS c ons i de r sas t r uc t ur a l p a t ht ha ts i mu l t a ne ou s l ye xpl a i nst het he or e t i c a l r e l a t i ons h i ps b e t we e n l a t e n t va r i a bl e s a n d i n di c a t or s .Se c on d,PLS d oe s not a s s i gn t he s a me we i gh t s t o t he i ndi c a t o r s o f a l a t e nt v a r i a b l e , b ut a s s i g ns t he m di f f e r e nt we i ght s b a s e d o n t hei n di c a t or s 'de gr e eofc o nt r i b ut i on t o t h e l a t e n tv a r i a b l e( Lohmöl l e r ,198 9;Wol d, 1 982 ,1 989 ,20 06) .Th i r d,PLS do e snoth a v e s t r ong c o ns t r a i nt son s a mp l es i z e ,u nl i ke o t he r s t r uc t ur a le qu a t i onmode l i ngt e c hni q ue s ,s uc ha s LI SREL( Ch i n ,1 998 ) .

I V.Resul t s

1.Measur ementmodel

Empl o yi ng t het wo - s t a gea na l y t i c a lpr oc e d ur e

( An de r s o n& Ge r bi ng,19 88;Ha i re ta l . ,19 95) ,

we f i r s t c on duc t e d a c on f i r ma t or y f a c t o r

a na l ys i s ,i n o r d e rt o e v a l u a t et heme a s ur e me nt

mo de l ,a n dt h e ne x a mi ne dt hes t r uc t ur a lmod e l .

Al lc on s t r uc t su s e di nt hi ss t udywe r emo de l e d

[Table 3] Results of confirmatory factor analysis Construct Item CR/AVE Loading t-value Calculus

-based Trust

CBT3 0.848

/0.650 0.7967 10.5925 CBT4 0.7976 21.2789 CBT5 0.8247 21.7909 Knowledge

-based Trust

KBT1 0.892

/0.675 0.8316 26.2733 KBT2 0.8513 29.0700 KBT3 0.8627 22.8324 KBT4 0.7356 14.6286 Identification

-based Trust

IBT1 0.880

/0.595 0.7187 15.6270 IBT2 0.7647 11.5002 IBT3 0.7980 17.1038 IBT4 0.7025 10.6290 IBT5 0.8621 35.0711 Customer

Satisfaction

CS1 0.903

/0.652 0.8708 27.2981 CS2 0.8539 22.3692 CS3 0.7598 14.8025 CS4 0.8259 18.3892 CS6 0.7153 13.5220 Construct Item CR/AVE Loading t-value Customer

Loyalty

CL1 0.902

/0.606 0.8428 19.8855 CL2 0.7608 10.7318 CL3 0.7580 14.6596 CL6 0.8318 27.5621 CL7 0.7452 16.6567 CL8 0.7227 13.7941

[Table 4] Correlations between constructs and evidence of discriminant validity

Construct Mean (S.D.) 1 2 3 4 5

Calculus-based Trust 3.494 (0.654) 0.806

Knowledge-based Trust 3.618 (0.550) 0.652 0.822

Identification-based Trust 3.106 (0.646) 0.271 0.488 0.771

Customer Satisfaction 3.419 (0.637) 0.622 0.754 0.497 0.807

Customer Loyalty 3.367 (0.652) 0.497 0.660 0.500 0.727 0.778

. S.D stands for Standard Deviation;

. The numbers in shaded cell are square roots of the AVE.

t o be r e f l e c t i ve ,wi t ho uta ny e xc e pt i ons .We be ga n by e x a mi ni n g c omp os i t e r e l i a bi l i t y a nd a ve r a geva r i a nc ee x t r a c t e d ( AVE)t o a s s e s st he r e l i a b i l i t y a n d v a l i di t y of our me a s u r e me nt mod e l ( Ha i r e t a l . , 199 5) . The c o mpos i t e r e l i a b i l i t y f o r our me a s ur e me ntmo de lr a ng e d f r om 0 . 83 1 t o 0 . 91 1.Ba s e d on a n a c c e p t a n c e l e v e lo f0. 7 ( Ch i n ,19 98) ,t hi sva l uewa sve r y s a t i s f a c t or y.Ho we ve r ,t he AVE r a n ge d f r o m 0. 4 98 t o 0. 619 f o rt h eme a s ur e me ntmo de l .I n pa r t i c ul a r ,f o r t he c on s t r uc t o f c a l c ul us - ba s e d t r u s t ,t he va l ue wa s 0. 4 98,wh i c h wa s l owe r t ha n t her e c omme nd e d l e ve lo f0. 5 ( For n e l l&

La r c ke r ,19 81) .

I na ddi t i ont ot hi s ,t hedi s c r i mi na ntva l i di t yof t he me a s ur e me nt mo de l t ur ne d o ut t o be un s a t i s f a c t or y .As Fo r ne l la nd La r c k e r ( 198 1) s ug ge s t e d,wee va l ua t e dt h i sb yus i ngt h es q ua r e r o otoft h eAVE.Unf or t u na t e l y,wef ou ndt ha t t he s q ua r e r oot of t he AVE of t he c a l c ul us - ba s e d t r us t wa s s ma l l e r t ha n t he c or r e l a t i onsbe t we e ni t sc o ns t r u c ta n dt heot h e r c ons t r uc t s .Th i sme a ntt h a tt hed a t at ha tweh a d ga t he r e d wa snotr e a dy t o bea na l yz e d .Ba s e d ont h e s er e s ul t s ,wet he ne l i mi n a t e di t e mswi t h l oa di ng va l ue s l owe r t ha n 0. 7 ( Ca nn on &

Ho mbur g, 200 1) . Fi na l l y , t he f ol l owi ng s i x i t e mswe r er e mov e d :CBT1,CBT2 ,KBT5,CS5, CL4, a nd CL5. Af t e r t hi s a dj us t me nt , we

e va l ua t e d t h e me a s u r e me n t mo de l a ga i n.The r e s ul t sa r es ho wni nTa b l e3.

For t h e f i na l me a s ur e s , t h e c omp os i t e

r e l i a bi l i t y r a nge d f r om 0. 848 t o 0. 903 a nd t he

AVE r a n ge df r om 0. 59 5t o0. 6 75.Fu r t he r mor e ,

t h es q ua r er ooto ft heAVE,a ss howni nTa b l e

4 ,whi c hwa sus e dt ot e s tdi s c r i mi na ntva l i di t y,

wa sa l s o gr e a t e rt h a n t he c or r e l a t i on sbe t we e n

[ Fi g ur e2]Re s u l t sofPLSa na l ys i s t ha tc ons t r uc ta n dt h eot he rc o ns t r u c t s .Thi s

me a n t t ha t t he me a s ur e me nt mode l s we r e s t r o ngl y s upp or t e d by t he da t a ga t he r e d a nd we r er e a d yf orf ur t h e ra na l ys i s .

2.St r uct ur almodel

Thi s s e c t i on de s c r i be s ho w o ur pr opo s e d hy pot he s e s we r e t e s t e d by us i ng PLS. The r e s ul t s o f t he s t r uc t u r a l mode l a na l ys i s a r e pr e s e nt e d,wi t hp a t hc o e f f i c i e n t sa n dt - v a l u e s ,i n Fi gur e2.

The r e s pe c t i ve s i gni f i c a nc e s of a l lo f t he pa t hsi nt hi smo de lwe r eg e n e r a t e dbyus i ngt he bo ot s t r a pr e s a mpl i ngpr oc e d ur e .Asc a nbes e e n, a l loft hes e ve nh ypo t h e s i z e dpa t hswe r ef o und t obes i gni f i c a nta tt h e0. 0 1o r0. 05l e ve l .Mo r e s pe c i f i c a l l y,c a l c ul u s - ba s e dt r u s twa sf o undt obe s i gni f i c a nt l yr e l a t e dt okno wl e dge - ba s e dt r u s t( β

= 0. 6 52;t= 1 1. 4 69;p< 0. 0 1)a nda c c ou nt e d f o r r oug hl y 43 pe r c e nt of t h e va r i a nc e i n kn owl e dg e - ba s e d t r u s t . Kn owl e dg e - ba s e d t r us t wa s a l s o f o und t o be s i gni f i c a nt l y r e l a t e d t o i de nt i f i c a t i on - b a s e dt r us t( β = 0. 4 88;t= 7 . 29 8;

p<0. 0 1)a n da c c o unt e df orr o ugh l y24pe r c e nt of t h e v a r i a n c e i n i de nt i f i c a t i on - ba s e d t r u s t . Th us ,Hyp ot he s e s1. 1a nd1. 2we r es u ppo r t e d.

I n t e r ms ofd e t e r mi ni n g t h e i mpa c to ft he t hr e e t ype s of t r us ton c u s t ome r s a t i s f a c t i on, c a l c ul us - ba s e d( β =0. 242 ;t=3. 0 96;p<0. 0 1) , kn owl e dg e - ba s e d ( β = 0. 50 6;t= 5. 339 ;p <

0. 0 1) ,a ndi d e n t i f i c a t i on- ba s e dt r u s t( β = 0. 18 4;

t= 2. 41 8;p < 0 . 05 )we r e a l lf ou nd t o be s i gni f i c a nt l y r e l a t e d t o c u s t ome r s a t i s f a c t i on.

Ho we ve r ,i t wa s f oun d t h a tkn owl e dg e - ba s e d t r u s tha damuc hs t r ong e ri mp a c tt ha nt heot he r t wo t yp e s .Th us ,Hyp ot he s e s2. 1,2. 2,a nd 2. 3

we r e s u ppo r t e d,a nd t he s e c ons t r uc t s o f t r us t we r e d e t e r mi n e d t o e xpl a i n 62 pe r c e ntoft he v a r i a n c ei nc us t ome rs a t i s f a c t i o n.

Cus t ome r s a t i s f a c t i on wa s f o und t o b e s i g ni f i c a n t l y r e l a t e d t o c u s t ome r l oya l t y ( β=

0 . 63 6; t = 9. 6 35; p < 0 . 01 ) , a s e xp e c t e d.

I de nt i f i c a t i o n- b a s e d t r u s t a l s o h a d a d i r e c t , a l t hou ghwe a k ,i mp a c tonc us t o me rl oya l t y( β = 0 . 18 4;t=2 . 735 ;p<0 . 01 ) .Fi f t y - s i xp e r c e n tof v a r i a n c e i n c us t ome rl oy a l t y c a n be e xp l a i ne d b yc u s t ome rs a t i s f a c t i ona ndi de nt i f i c a t i on - ba s e d t r us t ,a n d ba s e d o n t he s e r e s ul t s ,we i nf e r r e d t h a tHyp ot he s e s3. 1a nd3. 2we r es u ppo r t e d.

V.Di scussi on

Ta bl e5s umma r i z e st her e s ul t soft h es t ud y.

Asc a nbes e e n,a l loft h eh ypo t he s e sp r op os e d

i n t hi s s t udy we r e s u ppo r t e d. Fi r s t ,

c a l c u l u s - b a s e d t r us twa sf o und t o c o nt r i bu t et o

b ui l di ng kn owl e dg e - ba s e d t r us t ( H1. 1) , wh i l e

k nowl e d ge - b a s e d t r us t wa s de t e r mi ne d t o

c on t r i bu t e t o bui l di n g i d e n t i f i c a t i on- ba s e d t r us t

( H1 . 2) .Al lt hr e et y pe soft r us twe r ea l s of ou nd

t o c ont r i b ut e t o b ui l di ng c us t ome rs a t i s f a c t i o n

( H2 . 1, H2 . 2, a nd H2 . 3) , a l t h oug h

k nowl e d ge - b a s e dt r u s th a dt h es t r o nge s ti mpa c t .

Fi na l l y, c u s t o me r l oy a l t y wa s f o und t o b e

[Table 5] Summary of results

Hypotheses Results

H1.1: Calculus-based trust positively

affects knowledge-based trust. Supported H1.2: Knowledge-based trust positively

affects identification-based trust. Supported H2.1: Calculus-based trust positively

affects customer satisfaction. Supported H2.2: Knowledge-based trust positively

affects customer satisfaction. Supported H2.3: Identification-based trust positively

affects customer satisfaction. Supported H3.1: Identification-based trust positively

affects customer loyalty. Supported H3.2: Customer satisfaction positively

affects customer loyalty. Supported a f f e c t e db ybot hi de nt i f i c a t i o n- ba s e dt r us t( H3 . 1) a nd c u s t ome r s a t i s f a c t i o n ( H3. 2) .We b e l i e ve t ha ts uc c e s s f ulp e r s on a l i z e ds e r vi c e spr ovi d e dby on l i n er e t a i l e r sc o nt r i b ut et or e t a i ni n gc us t ome r s ' l oya l t y,b utt he i mpa c to f i d e n t i f i c a t i on- ba s e d t r u s t on c us t ome r l oya l t y wa s f o und t o be r e l a t i v e l y we a k i n c omp a r i s on t o t ha t of c us t ome rs a t i s f a c t i o n.

1.I mpl i cat i ons

Ourf i nd i n gsha ves omec l e a ri mpl i c a t i on sf or bo t h r e s e a r c he r s a n d p r a c t i t i one r s . For r e s e a r c he r s ,t hec l a s s i f i c a t i onoft r us ti n t ot hr e e di f f e r e ntt y pe sa ndt her e s ul t soft hi ss t ud ywi t h r e ga r d t o t he s e t ype s p r o vi de s e vi de nc e t ha t on l i n e s h opp i ng u s e r se x pe r i e nc e ah i e r a r c h i c a l de ve l opme nt of t r us t a n d t h a t t he r e i s no di f f e r e nc ebe t we e n t h ed e v e l op me n to ft r us ti n t he e - c omme r c e a n d r e a l wor l d s . Ho we ve r , i de nt i f i c a t i on - b a s e d t r us t ,whi c h c ome s f r om a s t r o ng e mot i ona lbon d a nd i st h eh i g he s tl e ve l oft r u s t ,doe sn otha vea ss t r o nga ni mp a c ta s wee xpe c t e d ,wh i c h i mp l i e st ha tu nl i kei n t he r e a lwor l d ,i ti sd i f f i c ul tf orpa r t i e sop e r a t i n gi n

t h e e - c omme r c e b us i ne s s wor l d t o de ve l op f ur t he rt r us t .I ti spa r t i c ul a r l ydi f f i c u l tf oron l i n e r e t a i l e r st ome e tc u s t o me r s 'de s i r e si nt e r msof e xe c ut i ng s uc c e s s f ul pe r s on a l i z e d s e r vi c e s , a l t hou ghc u s t ome r sd oa pp r e c i a t epe r s o na l i z a t i o n whe n i tc ome st o onl i nes h opp i ng.Thi ss t u dy a l s o o f f e r s r e s e a r c h e r s a mor e c o mpr e he ns i v e d e s c r i p t i o n of t he not i on of t r us t a n d i t s d yna mi cna t ur ei non l i n es hop pi ng.Ou ra n a l ys i s o ft hei mpa c toft hr e ed i f f e r e n tt ype soft r us t p r o vi de sa me c ha ni s m noton l y f o re xa mi n i ng t h er e l a t i o ns hi pb e t we e nt het hr e et ype soft r us t , c us t o me rs a t i s f a c t i o n,a n dc u s t ome rl o ya l t ya ta d e e pe rl e ve l ,b uta l s o f o rc o mpr e h e n di ng ho w t r us te vol v e si nt hec o nt e xtofe - c omme r c e .Th e r e s ul t soft hi ss t udyc a ns e r vea sar e f e r e n c ef or f ut ur e r e s e a r c he r s who s e e k t o f ur t he r u nde r s t a ndt hec on c e pt sd e s c r i b e dhe r e .

Ba s e d on t h e a bov e , we a l s o r e c omme nd

s e ve r a l s t r a t e gi e s f o r p r a c t i t i one r s . Fi r s t , t hi s

s t u dyr e ve a l st hei mpor t a n c eoft r u s tb ui l di ngi n

t h es uc c e s sofo nl i nes hop pi ngma l l s .Wh i l et h i s

s t u dy e mpha s i z e s t he hi e r a r c hi c a lde ve l opme nt

o ft r us t ,ou rf i ndi n gsa l s os ug ge s tt h a te a c ht r us t

t y pe ( c a l c ul us - ba s e d , k nowl e d ge - ba s e d, a nd

i d e n t i f i c a t i on ba s e d )s ubs t a nt i a l l y c ont r i b ut e st o

c us t o me r s a t i s f a c t i o n,whi c h i n t u r n l e a d s t o

c us t o me r l o ya l t y . By bui l di n g a po s i t i v e

r e put a t i o na n dp r o vi di ngpo s i t i v ei mpr e s s i on st o

p ot e nt i a l c us t ome r s ( i . e . , d e v e l op i ng

c a l c u l u s - b a s e dt r us t ) ,on l i n es hop pi ngma l l sc a n

a t t r a c tmor ec us t ome r sa ndde ve l opne w ma r k e t

o ppo r t un i t i e s .On c e c us t o me r s h a v e a po s i t i v e

i mp r e s s i on ofapa r t i c ul a rs h opp i n g ma l l ,i ti s

h i ghl yp os s i bl et ha tt h e ywi l lma i nt a i nt hi sa nd

mo ve t o wa r d e s t a bl i s hi ng a nd de ve l o pi ng t h e

n e x t l e ve l s of t r us t , k nowl e d ge - b a s e d a n d

i de nt i f i c a t i on - b a s e d t r u s t , t h e r e b y l e a di ng t o hi gh e r l e v e l s of c u s t ome r s a t i s f a c t i on a nd l oya l t y.For e x a mp l e ,Bur t a nd Kne z ( 19 96) a r gu e t ha thi gh l e ve l sofi ni t i a lt r us tt e n d t o pe r s i s t whe n p e o pl e i n t e r a c t i n c oo pe r a t i ve wa ys .I f pe opl e ha ve pos i t i ve f e e l i n gs a bou t e a c h o t h e r ,t he y a r e l i ke l y t o e nha nc e t h e i r i nt e r a c t i on s . Soc i a l i nt e r a c t i on a l s o s up por t s i ni t i a l t r us t ba s e d on pa r t i e s ' r e p ut a t i on s ( Wr i ght s ma n,1 991 ) .Si n c e a pa r t y' sr e p ut a t i on i s gr a d ua l l y un ve i l e d t h r ou gh c o nt i nue d s o c i a l i nt e r a c t i on s ,pa r t i e st e n d t o r e me mbe rp r e vi ou s e nc oun t e r swi t he a c hot he r .Thr oug ht hi sh i s t o r y, i nf or ma t i on a bo ut a p a r t y' s b a c kg r o und a c c umu l a t e sa ndi st r a n s mi t t e dt oot he r s .Wh e n ama j o r i t yofpe op l epe r c e i vet ha tap a r t yha sa go odr e put a t i o n,ane ga t i vea c t i oni sl e s sl i ke l y t os i g ni f i c a n t l yl e s s e nhi ghl e v e l soft r us ti nt ha t pa r t y .Thi si mpl i e st h a tt r u s ti sl i ke l yt obe c ome mor er ob us tove rt i me ,r a t he rt h a nmor ef r a gi l e . Whe npa r t i e sf i r s tme e t ,a na l r e a d y- f or me dl e ve l of i ni t i a lt r us te nc ou r a ge s a s ub s e q ue nthi gh l e v e loft r us t ,i nt e r msofbe l i e f sa ndi nt e nt i on s . Ov e r t i me , a r e l a t i o ns hi p be t we e n pa r t i e s be c ome s r e c i p r oc a l , und e r s t a n da bl e t o bot h pa r t i e s ,a ndf i n a l l y,s uc c e s s f ul .

Thes i gni f i c a nti mpa c tofc u s t o me rs a t i s f a c t i on onc u s t o me rl oya l t yf ur t h e ri ndi c a t e st ha tl o ya l t y e me r ge sf r om e x pe r i e nc e .Wec a nt h usi nf e rt ha t t hee x pe r i e nc e t ha tac u s t ome rga i nsdur i ng a f i r s tt r a n s a c t i oni nc r e a s e st hel i ke l i h oodt h a the ors h e wi l la ga i n ma ke a p ur c ha s e f r om t he s a me o nl i ne s hop pi ng ma l l . I n a ddi t i on , c us t ome r sma yt e ndt os t i c kt oon l i n es ho ppi ng ma l l s t ha t t h e y ha ve h a d e x pe r i e nc e wi t h , be c a u s e o nl i ne t r a ns a c t i on s do no t a l l ow c us t ome r st o e x pe r i e nc e t hego odsbe f or et h e y

p ur c h a s e a nd t hi s l e a ds t o t he c us t ome r s ' h e s i t a t i o nt ot r yn e w onl i nes hop pi ngma l l s .As s u c h ,on l i n e s hop pi ng ma l l s s ho ul d f oc us o n i n c r e a s i ngt h en umbe roft r a n s a c t i onst ha ton l i n e c on s ume r se n ga gei nb ypr ov i d i ngag oodi ni t i a l i mp r e s s i on a n d bui l di ng a r e p ut a t i o n t h a tc a n t h e n bema i nt a i ne d t h r o ugh outt h ede ve l opme nt p r o c e s s a nd us e d t o e s t a bl i s h b ot h k nowl e d ge - b a s e d a nd i de nt i f i c a t i o n- ba s e d t r us t . Howe v e r , ba s e d o n t h e we a k i mp a c t o f i d e n t i f i c a t i on- ba s e d t r us t on onl i ne c u s t ome r s a t i s f a c t i o n a nd l oy a l t y, we s ugg e s t onl i ne s h opp i ngma l l sno tpu t t i ngt oomuc he f f or ti nt o p e r s on a l i z a t i on , whi c h i s e xp e n s i v e a n d t i me - c on s umi ng. Conv e n i e nc e f r om p e r s on a l i z a t i onma yl e a dt oc us t ome rs a t i s f a c t i o n a nd l oy a l t y,bu ti de nt i f i c a t i o n- b a s e d t r u s tdo e s n ots e e m t oi nc r e a s et h e m.Ont h ec o nt r a t y,t oo mu c h pe r s o na l i z a t i o n ma y i nc r e a s e c us t ome r s ’ c on c e r nsf ort he i rp r i va c y.

2.Li mi t at i ons

Li ke a ny o t h e r s t udy , t hi s s t udy ha s i t s

l i mi t a t i on s .Fi r s t ,a l t hou gh i ti sc r os s - s e c t i on a l ,

t h er e s e a r c hmode le mpl oye di nt hi ss t ud y ha s

b e e n d e s i gn e d t o e x a mi ne c a us a lr e l a t i on s hi ps

i n vol vi n g t r us t , s a t i s f a c t i on , a nd l oya l t y. As

s u c h , a l on gi t udi n a l s t u dy wou l d b e mor e

s u i t a bl e t o t h e a c hi e ve me nt of t he r e s e a r c h

o bj e c t i ve s . To o ve r c ome t hi s l i mi t a t i on , we

c on duc t e d at ho r ou ghl i t e r a t ur er e vi e w,a n d we

a r ec o nf i d e n tt ha tourr e s e a r c h mo de lc or r e c t l y

d e s c r i b e s t he c a us a l r e l a t i o ns hi p s a mong t h e

r e s e a r c h v a r i a b l e s .Thes e c on d l i mi t a t i on i st he

s p e c i f i c i t yo fo urs a mp l e .Al loft her e s po nde nt s

i n vol ve da r ef r om as i ngl eu ni ve r s i t yi nas i ng l e

c oun t r y.I na dd i t i on ,mos toft her e s pon de nt sa r e i n t h e i r20s ,a nd 6 6% oft he r e s p ond e n t sa r e f e ma l e .Thi ss a mpl i ngbi a ss o me wha thu r t st he ge ne r a l i z a bi l i t y o ft her e s u l t sa n d we mu s tbe c a r e f ul i n i nt e r pr e t i n g t he r e s e a r c h f i n di ng s . Fi na l l y , we d e v e l op e d ou r q ue s t i o nna i r e s by c onv e r t i n gde f i n i t i on so fc ons t r uc t sf ort het hr e e t ype soft r us tt o be t t e rf i tt heonl i nes hop pi ng ma l l c ont e xt . Th us , i t i s po s s i bl e t ha t our qu e s t i on na i r e sdi d no ta ppr op r i a t e l y e x pr e s st he c ons t r uc t s ,a l t h oug h we d i d o urbe s tt o a da pt t heor i gi na lme a s ur e sa n d va l i da t e t h e m i n a n a c c e pt a b l e wa y. Ho we ve r , ba s e d o n our r e l i a b i l i t ya ndva l i di t yt e s t ,wef e e lt he r ei sno c a u s ef orc on c e r na bou tt hi si s s ue .

3.Concl usi on

I n t hi spa pe r ,wei nve s t i ga t e d t h ei mpa c tof c a l c ul us - ba s e d , kno wl e dge - b a s e d, a nd i de nt i f i c a t i on - b a s e dt r us to nc us t o me rs a t i s f a c t i on a ndl oy a l t y,byu t i l i z i n gPLSt ot e s tapr opo s e d mod e l .Hyp ot he s e swe r ep r op os e da same a n sof de t e r mi ni ng wh e t he r di f f e r e nt t yp e s o f t r us t e vol ve ov e r t i me a nd t o a s s e s s t h e di r e c t r e l a t i o ns hi p b e t we e n i de nt i f i c a t i o n- b a s e d t r us t a nd c us t ome rl oya l t y.By doi ng s o ,we we r e a bl e t o f i gur e o utwhi c h f o r ms oft r us tbe s t c ont r i b ut e d t o t he r e t e nt i on o fc u s t o me r s .The r e s ul t s s howe d t h a t t h e mos t powe r f ul t r us t e me r ge d f r o m po s i t i ve c us t ome r e x pe r i e nc e s , wh i l et hei mpa c to fi de nt i f i c a t i o n- b a s e dt r us ton c us t ome rs a t i s f a c t i on a nd c u s t o me rl o ya l t y wa s l e s s s a l i e nt . Fut ur e r e s e a r c h c o ul d a s k r e s po nde nt s t o me nt i on a s pe c i f i c t ype of pr odu c t ( e . g. , d ur a bl e s vs . n on- dur a bl e s ) or on l i n e s hop pi ng ma l l( e . g. ,c a t e g or y ki l l e rv s .

g e n e r a ls ho ppi ngma l l )t h a tt he y f r e qu e n t l yu s e b e f or ea ns we r i ngqu e s t i on s .Thi smi ghtgi v eus a c h a n c e t o i mpr ov e t he c ur r e ntf i nd i n gs by f oc us i ngo ns pe c i f i ct y pe so fpr odu c t soron l i n e r e t a i l e r s .

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