*Professor of mis school of Business Administration Sungkyunkwan University Seoul 110-745, Korea

[29] C. R. Fornell and D. F. Lacker, "Two structural equation models with unobservable variables and measurement error," Journal of Marketing Research, vol. 18, no. 1, pp. 39-50, 1981.
[30] S. Ganesan, "Determinants of long-term orientation in buyer-seller relationships," Journal of Marketing, vol. 58, pp. 1-19, April 1994.
[31] E. Garbarino and M. S. Johnson, "The different roles of satisfaction, trust, and commitment in customer relationships," Journal of Marketing, vol. 63, pp. 70-87, April 1999.
[32] A. W. Gatian, "Is user satisfaction a valid measure of system effectiveness?," Information & Management, vol. 26, pp. 119-131, 1994.
[33] D. Gefen, "Customer loyalty in e-commerce," Journal of the AIS, vol. 3, pp. 27-51, 2002.
[34] D. Gefen, E. Karahanna and D. W. Straub, "Trust and TAM in online shopping: an integrated model," MIS Quarterly, vol. 27, no. 1, pp. 51-90, 2003.
[35] D. Gefen, E. Karahanna and D. W. Straub, "Inexperience and experience with online stores: The importance of TAM and trust," IEEE Transactions on Engineering Management, vol. 50, no. 3, pp. 307-321, 2003.
[36] D. Gefen, D. W. Straub and M. C. Boudreau, "Structural equation modeling and regression: Guidelines for research practice," Communications of the Association for Information Systems, vol. 4, no. 7, pp. 1-70, 2000.
[37] J. A. Ghani, R. Supnick and P. Rooney, "The experience of flow in computer-mediated and in face-to-face groups," Proceedings of the 12th International Conference on Information Systems, pp. 229-327, 1991.
[38] A. M. Glenberg and W. E. Langston, "Comprehension of illustrated text: Pictures help to build mental models," Journal of Memory and Language, vol. 31, no. 2, pp. 129-151, 1992.
[39] S. Gopalakrishnan, J. D. Wischnevsky and F. Damanpour, "A multilevel analysis of factors influencing the adoption of Internet banking," IEEE Transactions on Engineering Management, vol. 50, no. 4, pp. 413-426, November 2003.
[40] M. Gupta, A. R. Chaturvedi, S. Mehta and L. Valeri, "The experimental analysis of information security management issues for online financial services," Proceedings of the 21st International Conference on Information Systems, pp. 667-675, 2000.
[41] J. F. J. Hair, R. E. Anderson, R. L. Tatham and W. C. Black, Multivariate Data Analysis with Readings, Prentice Hall, NJ: Englewood Cliffs, 1998.
[42] L. C. Harris and M. M. H. Goode, “The four levels of loyalty and the pivotal role of trust: a study of online service dynamics,” Journal of Retailing, vol. 80, pp. 139-158, 2004.
[43] P. Hart and C. Saunders, "Power and trust: critical factors in the adoption and use of electronic data interchange," Organizational Science, vol. 8, no. 1, pp. 23-42, 1997.
[44] D. L. Hoffman and T. P. Novak, "Marketing in hypermedia computer-mediated environments: Conceptual foundations," Journal of Marketing, vol. 60, pp. 50-68, July 1996.
[45] D. L. Hoffman, T. P. Novak and M. Peralta, "Building consumer trust online," Communications of the ACM, vol. 42, no. 4, pp. 80-85, 1999.
[46] J. G. Holmes, "Trust and the appraisal process in close relationships," In W. H. Jones and D. Perlman (eds.) Advances in Personal Relationships, London: Jessica Kingsley, vol. 2, pp. 57-104, 1991.
[47] D. Hutchinson and M. Warren, “Security for Internet banking: A framework,” Logistics Information Management, vol. 16, no. 1, pp. 64-73, 2003.
[48] D. Iacobucci and J. D. Hibbard, "Toward an encompassing theory of business marketing relationships (BMRs) and interpersonal commercial relationships (ICRs): An empirical generalization," Journal of Interactive Marketing, vol. 13, no. 3, pp. 13-33, 1999.
[49] S. L. Jarvenpaa and P. A. Todd, "Consumer reactions to electronic shopping on the world wide web," International Journal of Electronic Commerce, vol. 1, no. 2, pp. 59-88, 1997.
[50] S. L. Jarvenpaa, N. Tractinsky and M. Vitale, "Consumer trust in an Internet store," Information Technology and Management, vol. 1, no. 12, pp. 45-71, 2000.
[51] C. Jayawardhena and P. Foley, "Changes in the banking sector - The case of internet banking in the UK," Internet Research, vol. 10, no. 1, pp. 19-31, 2000.
[52] P. N. Johnson-Laird, Mental Models, In Foundations of Cognitive Science, Posner, M. I. (ed.), Cambridge, MA: MIT Press, pp. 469-499, 1989.
[53] D. Kahneman and D. T. Miller, "Norm theory: Comparing reality to its alternatives," Psychological Review, vol. 93, pp. 136-153, April 1986.
[54] K. L. Keller, "Brand synthesis: The multidimensionality of brand knowledge," Journal of Consumer Research, vol. 29, pp. 595-600, March 2003.
[55] M. Koufaris, "Applying the technology acceptance model and flow theory to online consumer behavior," Information Systems Research, vol. 13, no. 2, pp. 205-223, 2002.
[56] N. Kumar, "The power of trust in manufacturer-retailer relationships," Harvard Business Review, vol. 74, no. 6, pp. 93-106, 1996.
[57] N. Kumar, L. K. Scheer and J. E. M. Steenkamp, "The effects of perceived interdependence on dealer attitudes," Journal of Marketing Research, vol. 32, pp. 348-356, August 1995.
[58] M. K. O. Lee and E. Turban, "A trust model for consumer internet shopping," International Journal of Electronic Commerce, vol. 6, no. 1, pp. 75-91, 2001.
[59] S. Liao, Y. P. Shao, H. Wang and A. Chen, "The adoption of virtual banking: An empirical study," International Journal of Information Management, vol. 19, no. 1, pp. 63-74, 1999.
[60] Z. Liao and M. T. Cheung, "Internet-based e-banking and consumer attitudes: An empirical study," Information & Management, vol. 39, pp. 283-295, 2002.
[61] S. Lindskold, "Trust development, the GRIP proposal and the effects of conciliatory acts on conflict and cooperation," Psychological Bulletin, vol. 85, no. 4, pp. 772-793, 1978.
[62] G. L. Lohse and P. Spiller, "Electronic shopping," Communications of the ACM, vol. 41, no. 7, pp. 81-87, 1998.
[63] R. F. Lorch and E. O'Brien, Sources of coherence in reading, NJ: Erlbaum, 1995. 10.
[64] N. Luhmann, Trust and Power, New York: Wiley, 1979.
[65] X. Luo, "The performance implications of contextual marketing for electronic commerce," Journal of Database Marketing, vol. 10, no. 3, pp. 231-239, 2003.
[66] A. J. Lurigio and J. S. Carroll, "Probation officers’ Schemata of offenders: content, development, and Impact on Treatment Decisions," Journal of Personality and Social Psychology, vol. 48, no. 5, pp. 1112-1126, 1985.
[67] R. C. Mayer, J. H. Davis and F. D. Schoorman, “An integrative model of organizational trust,” Academy of Management Review, vol. 20, no. 3, pp.709-734, July 1995.
[68] D. L. McGuinness and P. P. da Silva, Trusting answers on the web. Working Paper, Knowledge Systems Laboratory, Stanford University, 2003. (http://www.ksl.stanford.edu/ people/pp/papers/McGuinness_QA_2003.pdf)
[69] V. McKinney, K. Yoon and F. M. Zahedi, “The measurement of web-customer satisfaction: An expectation and disconfirmation approach,” Information Systems Research, vol. 13, no. 3, pp. 296-315, September 2002.
[70] D. H. McKnight and N. L.Chervany, “What trust means in e-commerce customer relationships: an interdisciplinary conceptual typology,” International Journal of Electronic Commerce, vol. 6, no. 2, pp. 35-53, 2002.
[71] D. H. McKnight, V. Choudhury and C. Kacmar, “Developing and validating trust measures for e-commerce: An integrative typology,” Information Systems Research, vol. 13, no. 3, pp. 334-359, 2002.
[72] D. H. McKnight, L. L. Cummings and N. L. Chervany, “Initial trust formation in new organizational relationships,” Academy of Management Review, vol. 23, no. 3, pp. 472-490, 1998.
[73] G. R. Milne and M. Boza, “Trust and concern in consumers’ perceptions of marketing information management practices,” Journal of Interactive Marketing, vol. 13, no. 1, pp. 5-24, 1999.
[74] C. Moorman, R. Deshpande and G. Zaltman, “Factors affecting trust in market research relationship,” Journal of Marketing, vol. 57, pp. 81-101, January 1993.
[75] R. M. Morgan and S. D. Hunt, “The commitment-trust theory of relationship marketing,” Journal of Marketing, vol. 58, pp. 20-38, July 1994.
[76] L. Moutinho and A. Smith, “Modeling bank customer satisfaction through mediation of attitudes towards human and automated banking,” International Journal of Bank Marketing, vol. 18, no. 3, pp. 124-134, 2000.
[77] Mullen, M.R., “Diagnosing measurement equivalence in cross-national research”, Journal of International Business Studies, 3^rd Quarter, 1995, pp. 573-596.
[78] R. L. Oliver, “A cognitive model of the antecedents and consequences of satisfaction decision,” Journal of Marketing Research, vol. 17, pp. 460-469, November 1980.
[79] J. W. Palmer and D. A. Griffith, “An emerging model of web site design for marketing,” Communications of the ACM, vol. 41, no. 3, pp. 45-51, 1998.
[80] P.A. Pavlou, “Institution-based trust in interorganizational exchange relationships: the role of online B2B marketplaces on trust formation,” Journal of Strategic Information Systems, vol. 11, pp. 215-243, March/April 2002.
[81] P.A. Pavlou and D. Gefen, “Building effective online marketplaces with institution-based trust,” 23rd International Conference on Information Systems, pp. 667-675, 2002.
[82] H. Perks and S. V. Halliday, “Sources, signs and signaling for fast trust creation in organisational relationships,” European Management Journal, vol. 21, no. 3, pp. 338-350, June 2003.
[83] J. P. Peter and J. C. Olson, Consumer Behavior, Chicago: Irwin, 2001.
[84] R. E. Plank, D. A. Reid and E. B. Pullins, “Perceived trust in business-to-business sales: A new measure,” Journal of Personal Selling & Sales Management, vol. 19, pp. 61-71, Summer 1999.
[85] T. A. Powell, Web Site Engineering: Beyond Web Page Design, Prentice-Hall, NJ: Englewood Cliffs, 1998.
[86] J. A. Quelch and L. R. Klein, “The internet and international marketing,” Sloan Management Review, vol. 37, pp. 60-75, Spring 1996.
[87] J. A. Quelch and H. Takeguchi, “Nonstore marketing: Fast track or slow ?,” Harvard Business Review, vol. 59, no. 4, pp. 75-84, 1981.
[88] S. N. Ramaswami, T. J. Strader and K. Brett, “Determinants of on-line channel use for purchasing financial products,” International Journal of Electronic Commerce, vol. 5, no. 2, pp. 95-118, Winter 2000-2001.
[89] P. S. Ring and A. H. Van de Ven, “Developmental processes of cooperative interorganizational relationships,” Academy of Management Review, vol. 19, pp. 90-118. 1994.
[90] L. Rosenfeld and P. Morville, Information Architecture for the World Wide Web, Sebastopol, CA: O’Reilly, 1998.
[91] S. Rotchanakitumnuai and M. Speece, “Barriers to Internet banking adoption: a qualitative study among corporate customers in Thailand,” International Journal of Bank Marketing, vol. 21, no. 6/7, pp. 312-323, 2003.
[92] M. Sathye, “Adoption of internet banking by Australian consumers: An empirical investigation,” International Journal of Bank Marketing, vol. 17, no. 7, pp. 324-334, 1999.
[93] A. H. Segars and V. Grover, “Re-examining perceived ease of use and usefulness: A confirmatory factor analysis,” MIS Quarterly, vol. 17, no. 4, pp. 517-525, 1993.
[94] B. Shneiderman, Designing the User Interface: Strategies for Effective Human-Computer Interaction, 3rd edition, Addison Wesley, 1998.
[95] J. B. Smith and D. W. Barclay, “The effects of organizational differences and trust on the effectiveness of selling partner relationships,” Journal of Marketing, vol. 61, pp. 3-21, January 1997.
[96] K. J. Stewart, “Trust transfer on the world wide web,” Organization Science, vol. 14, pp. 5-13, January/February 2003.
[97] D. W. Straub, “Validating instruments in MIS research,” MIS Quarterly, vol. 13, no. 2, pp. 147-169, 1989.
[98] B. Suh and I. Han, “The impact of customer trust and perception of security control on the acceptance of electronic commerce,” International Journal of Electronic Commerce, vol. 7, no. 3, pp. 135-161, 2003.
[99] Sutton, R. I. and Staw, B. M. “What theory is not,” Administrative Science Quarterly (40), 1995, pp. 371-384.
[100] M. Tan and T. S. H. Teo, “Factors influencing the adoption of Internet banking,” Journal of the Association for Information Systems, vol. 1, no. 5, pp. 1-42, 2000.
[101] M. Thuring, J. Hanneman and J. M. Haake, “Hypermedia and cognition: Designing for comprehension,” Communications of the ACM, vol. 38, no. 8, pp. 57-66, 1995.
[102] L. K. Trevino and J. Webster, “Flow in computer-mediated communication-electronic mail and voice mail evaluation and impacts,” Communication Research, vol. 19, no. 5, pp. 539-573, 1992.
[103] G. L. Urban, F. Sultan and W. J. Qualls, “Placing trust at the center of your internet strategy,” Sloan Management Review, vol. 42, no. 1, pp. 39-48, Fall 2000.
[104] J. Webster, L. K. Trevino and L. Ryan, “The dimensionality and correlates of flow in human-computer interaction,” Computer. Human Behavior, vol. 9, no. 4, pp. 411-426. 1993.
[105] M. Wolfinbarger and M. C. Gilly, “Shopping online for freedom, control, and fun,” California Management Review, vol. 43, no. 2, pp. 34-55, 2001.
[106] S. J. Yoon, “The antecedents and consequences of trust in online-purchase decisions,” Journal of Interactive Marketing, vol. 16, no. 2, pp. 47-63, 2002.
[107] D. Zhu, “Security control in inter-bank fund transfer,” Journal of Electronic Commerce Research, vol. 3, no. 1, pp. 15-22, 2002.
[108] L.G. Zucker, “Production of trust: institutional sources of economic structure, 1840-1920,” Research in Organizational Behavior, vol. 8, pp. 53-111, 1986.

 Professor McKnight has served as a corresponding author. Inquiries about this study can be directed to any author.

1 We are indebted to an anonymous reviewer for this insight.