Business In Thailand Research Articles

FACTORS INFLUENCING SMALL FARMERS TO PARTICIPATE IN SUGARCANE LOADING STATIONS IN THAILAND

Sugarcane loading stations were established in the sugarcane business in Thailand for more than ten years to decrease the transportation cost of the small farmers. However, the participation rate was rather low. The main objective of this study was to investigate the factors influencing sugarcane small farmers to join contract farming with sugarcane loading stations. Descriptive analysis was used to describe farmers’ demographic profiles and farms’ characteristics. Factor analysis was used to determine factors influencing farmers’ motivation to join with loading stations. Social participation was revealed as the factor the most influenced farmers’ motivation to join with loading stations, followed by economic constraints and individual goals, which these two factors have also significantly influenced the farmers’ motivation to join with loading stations. Conversely, the sign of education (positive) and age (negative) were estimated in the logistic regression analysis, which increases age level will reduce the small farmers’ motivation to participate in the sugarcane loading stations, and the higher education level will increase the small farmers’ motivation to participate in the sugarcane loading stations.

COVID-19 effects on Tourism and Business in Thailand

COVID-19 is a Pandemic disease spreads from Wuhan, China, to all over the world since late December 2019. At present, there is no drugs and vaccine available for this disease. It is the most recently discovered infectious coronavirus disease. Before the outbreak in Wuhan, China, in December 2019, this new virus and disease were unknown. The coronavirus pandemic affects various businesses in Thailand, especially Tourism and its related businesses. Because of this uncertainty, this disease affects harmful and severe economic declines in the country. This study aims to explore the effect of COVID-19 on Thai Tourism and businesses in Thailand. Qualitative Research was used in this article. This paper uses mostly secondary data from various trusted sources to enrich the quality of the information. The findings conclude that Thailand Tourism is estimated to affect 1.9 Trillion Baht as the revenue in 2020. Also, businesses in Thailand drop to USD 5 to 6 Billion from different business sectors. Thailand Tourism and its related businesses lost their sources severely, but the industry will get back soon once the situation is better and back to normal life. Aggregate demand needs to be boosted so that the supply chain is stimulated to restart economies.

Organizational Innovation in Medium and Large Sized Businesses in Thailand’s Food Manufacturing Industry

This research investigates the effect of transformational leadership and organizational learning on organizational innovation occurring in medium and large-sized businesses in Thailand’s food manufacturing industry. In total 200 businesses constituted the sample. PROCESS Macro Model 4 technique as devised by Hayes was utilized to verify the hypotheses. It was found that organizational learning plays a crucial role in fully mediating the effects of transformational leadership on organizational innovation. On this basis, a transformational leadership style of management is important for the firms in the food manufacturing industry to be innovative. These firms’ owners/managers must concentrate on organizational learning for innovation to lead to viable outcomes in the food industry.

Guidance for sustainable development for elderly service business in Thailand

Guidance for sustainable development for elderly service business in Thailand

Guidance for sustainable development for elderly service business in Thailand

Guidance for sustainable development for elderly service business in Thailand

Supply chain analysis of import fresh fruit business in Thailand using the supply chain operations reference (scor) model

According to the increasing trend of online shopping through social media and reduced international trade barriers and tariffs, there is an opportunity for entrepreneurs to import fresh fruit. However, operations throughout the supply chain have suffered from product quality control and cold chain management. The research aimed to analyze the supply chain of import chilled fresh fruit based on the Supply Chain Operations Reference (SCOR) Model and suggest optimising cold chain management. The data are collected from case study executives and operators using in-depth interviews and observation. The main problems are price markdown due to the overestimation of slow-moving products and food loss and low productivity, no standard operations in receiving and distribution, and lack of proper metrics to measure the supply chain performance. Finally, the suggestions of improvement include establish demand planning and forecasting, implement supply chain optimization and inventory monitoring, develop a lot tracking system, standard operating procedures for receiving process, enhance worker efficiency, use the sensor with the Internet of Things (IoT) solution, implement supply chain risk monitoring, and online marketing. In summary, this research will be useful for other traders to reduce food loss throughout the supply chain.

Internal Control Effectiveness and Business Survival: Evidence from Thai Food Businesses

This study aims at investigating the effects of internal control effectiveness on business survival of food businesses in Thailand through the mediators of productivity improvement and value creation. In this study, 155 food businesses in Thailand are the samples of the study. The results show that internal control effectiveness has a significant influence on productivity improvement and business survival. Productivity improvement critically affects value creation and business survival while value creation is an important determinant of business survival. However, internal control effectiveness has no relationship with value creation. Also, productivity improvement explicitly mediates the internal control effectiveness-business survival relationships. In summary, internal control effectiveness can enhance firms' sustainable competitive advantage, superior performance and long-term survival. Firms need to focus on internal control effectiveness through investing their assets and resources and utilizing their abilities, competencies and capabilities in order to continuously develop and improve their appropriate concepts and characteristics in an organization. Better internal control effectiveness definitely leads to more long-term survival. To generalize the research results, future research needs to collect data from other businesses and industries. Increased response rate of the study is important for future research to verify and confirm the research results.

The Effect of Corporate Governance on the Cost of Debt: Evidence from Thailand

Although the corporate governance plays a crucial role in protecting shareholder wealth, the effect of corporate governance on cost of debt is unclear. On one hand, the corporate governance reduces asymmetric information between corporate and external investor including debtholder leading to a decreasing in cost of debt financing. On the other hand, bondholders require higher rate of return for an improvement corporate governance. Hence, this study aims to investigate the relationship between the mechanism to improve corporate governance namely board effectiveness and the cost of debt in an emerging market. As we aim to explore the relationship between cost of debt and board effectiveness, we select corporation in Thailand as our sample because the businesses in Thailand are major debt-financing. Hence, our sample include listed firm in Stock Exchange of Thailand between 2007 and 2016. Our main findings support the sub-optimal investment hypothesis in that improved board effectiveness is associated with higher cost of borrowing. In addition, we find that the number of board member-board size, the number of board meeting, and the percentage of non-executive on audit committee play are positively associated with the cost of debt financing. Furthermore, we perform two-stage-least square (2SLS) to ensure that our results are far from endogeneity issue.

Integrated Performance Measurement as a Strategic Management Accounting Approach: A Case of Beverage Businesses in Thailand

This study aims to examine the effects of integrated performance measurement on firm success of beverage businesses in Thailand. Integrated performance measurement, organizational commitment, organizational citizenship behavior, and firm success are the main variables of the study. In this study, all 653 beverage businesses from Department of Business Development, Ministry of Commerce, Thailand are the samples of the study. The data collection was provided during February - April, 2016. A mail survey procedure via questionnaire was used for data collection. 163 responses were received. Of the surveys completed and returned, 159 were usable. The structural equation model (SEM) is conducted to examine the effects of integrated performance measurement on organizational commitment, organizational citizenship behavior and firm success. The results show that integrated performance measurement positively influences organizational commitment, organizational citizenship behavior and firm success. Organizational commitment positively affects both organizational citizenship behavior and firm success while organizational citizenship behavior positively impacts firm success. In summary, integrated performance measurement as a strategic management accounting approach is a key determinant of firms' business outcome. Firms need to support their resources and capabilities in developing, implementing, utilizing, and maintaining integrated performance measurement. Potential discussion, conclusion, and suggestions and directions for future research are highlighted.

Strategic Management Accounting and Firm Performance: Evidence from Finance Businesses in Thailand

Strategic Management Accounting and Firm Performance: Evidence from Finance Businesses in Thailand

GREEN BUSINESS MODEL OF BIOMASS VERY SMALL POWER PRODUCERS IN THAILAND

Electricity from biomass energy business in Thailand can be produced from agricultural waste in large quantity. However, without proper management, electricity production from biomass, specifically biomass very small power plants located in communities across the country, may cause pollution and health threats impacting the environment, public health, and conflict from the pollution-affected communities around the biomass power plants. This research aimed to construct Green Business Model for electricity production using biomass for Biomass Very Small Power Producers in Thailand by applying the Sustainability Balanced Scorecard and to evaluate the model by interviewing experts and stakeholders of biomass electricity production. The study showed that the concept of green business model of Biomass Very Small Power Producers consisted of four key aspects namely 1) Stakeholders perspective including business entrepreneurs, feedstock producers/suppliers, feedstock transport operators, community, government, and non-governmental organizations 2) Sustainability management perspective including economic management, social management, and environmental management 3) Effectiveness perspective including Social Return on Investment and 4) Learning & growth perspective including training/learning and innovation/technology. Biomass Very Small Power Producers could deploy the concept of this model to generate profit coupled with responsibility for the environment and society. Consequently, the green business model of Biomass Very Small Power Producers could benefit the agricultural and community sectors such as energy security, reduction of energy import, support of agricultural waste management, local occupation in community, and revenue generation within communities from agricultural waste. It would lead to sustainable development and benefit all stakeholders in the biomass energy supply chain.

Intergenerational differences of CSR activities in family-run businesses in eastern Thailand

This paper looks at differences and similarities in CSR between generations of family-run businesses in Thailand, especially their motivation, behaviour, targets, activities, and expectations towards CSR. It will be argued that family-run businesses in Thailand practise CSR informally, driven by a mentality of “giving back to society” and mostly influenced by religion and culture. Family-run businesses generally approach CSR differently from larger corporations. This paper also discusses differences of priorities between 1st and 2nd generation owners, with 1st generation FRBs tend to focus on survival and growth, while the 2nd generation on profit. Despite struggling to survive, 1st generation family-run businesses are typically engaged in CSR activities which influences the 2nd generation to follow suit.

Decision-making on loan services of small and medium enterprises (SMEs) in agrarian areas of North-Eastern Thailand

The purpose of this research was to study the quality and standards of work that influence the operational efficiency of Small and Medium Enterprises in the construction business in Thailand. The data was gathered from 400 construction business entrepreneurs, 342 of which were respondents of an online questionnaire and the other 58 were out of 80 respondents to a questionnaire sent by post. The result revealed that quality and standards of work had effects towards the efficiency of the business. Having been granted permission to do construction from a provincial office of public works was found to affect their benefits and customers’ satisfaction with statistical significance. It was also found that the use of good-quality construction materials and having construction completed on the requested schedule had an effect towards the business’s revenue at the statistical significance level of 0.05.

Work quality and standards of small and medium enterprises in the agro-industrial and construction business in Thailand

The purpose of this research was to study the factors that influence the decision of Small and Medium Enterprise (SMEs) in the Northeast region of Thailand to use loan services from Kasikorn Bank. The population in this research was 1,746 SMEs entrepreneurs who used loan services for Small and Medium Enterprise customers provided by Kasikorn Bank Public Company Limited in the North-eastern region of Thailand. Multi-stage Cluster Sampling was used in sampling 325 SMEs entrepreneurs and a 5 rating-scale questionnaire was used as a research tool, with the confidence value of independent variables of .96 and the confidence value of dependent variables of .83. The statistics used in analysis were Frequency, Percentage, Mean, Standard Deviation, Multiple Regression Analysis, T-test, and F-test. 7 factors were found to have influence in the decision to use loan services of the Small and Medium Enterprises customers at a high level. These following factors are listed in order from highest to lowest average scores; Service Process, Physical Evidence and Presentation, Personnel, Products, Distribution, Marketing Promotion, and Price. Only 2 factors were found to have an influence on the customers’ decision to use loan services with standardized coefficient of determination for multiple regression at the significance level of .01; Service Process (Beta = .43) and Personnel (Beta = .19) and both factors together could be used to determine 35% of dependent variables with statistical significance.

Techniques and adjustments in valuing privately-held enterprises in Thailand

This article investigates the tools appraisal firms use to value privately-held businesses in Thailand. It also tests for covariation between selected descriptive variables and the techniques valuers employ to assist owners in deciding on their companies’ worth. A review of literature relating both to valuation and to strategic planning served as the basis for hypothesis development and questionnaire construction. All 81 approved Thai appraisal firms received the questionnaire. The main findings are that the number and kind of tools Thai appraisal firms employ vary widely. Furthermore, manager and practitioner characteristics such as education, professional association membership, years of work experience, and cases previously handled as well as an appraisal firm’s age and size sometimes are associated with the valuation techniques applied, account adjustments made, and interest rate alternatives chosen. The study furthermore suggests that reporting justifications for the specific valuation techniques employed and the weights assigned their results would increase transparency, afford clients additional useful information, and provide linkage between theory and actual practice. Reliance on senior practitioners and top managers as questionnaire respondents raises the possibility of key informant bias. Future research might examine the extent to which appraised values resulting from application of the tools respondents say they use to agree with prices subsequently paid in arm’s length, market transactions.

Does knowledge management practice produce accounting employee productivity in the tourism business in Thailand?

ABSTRACTThis study examined the role of knowledge management practices in accounting employee productivity in the tourism industry in Thailand. A convenience sample of 191 accounting employees from Thailand’s tourism industry completed a questionnaire. Partial least squares structural equation modelling (PLS-SEM) was used to test the hypotheses. The results of the study showed that knowledge management practice had a positive relationship with financial statement quality, financial statement users’ satisfaction, organizational image creation, and a true and fair view of accounting information in this field. The findings provide valuable information for accounting departments in tourism businesses throughout Thailand, which can be applied to the development of effective target-knowledge management strategies.

The Development of Service Quality and the Business Competitiveness of Wellness Spa in Thailand

This article studied wellness spa business in Thailand which can be categorized under tourism industry considered to be the main income of Thailand and the drive of the country’s economy. Thai wellness spas have been popular among Thai and foreign tourists. It can be seen that the standard of Thai wellness spas rank high in Asia. The business attracts a great amount of investment and spending in the service industry.

Creative innovation of startup businesses in Thailand 4.0 era

Creative innovation of startup businesses in Thailand 4.0 era

Causal Model of Customer Intention to using Anti-Aging Business in Thailand

This conceptual paper explores the causal relationships among the components of the customer relationship management and proposes a causal model using the theory of planned behavior. The context of investigation is the anti-aging business which is expected to be growing in response to the increasing trend of aging society in Thailand. The data collection is design for the online platform, disseminating the questionnaire through social media. The total sample is 500. The causal relationship will be investigated using structural equation model.

Study and Development of Inventory Management System for Frozen Food Business in Thailand

The role of the current business competition in addition to the strategic competition, adjust the marketing model that focuses on reaching the customer exactly. One thing that is no less important than having a concept and adaptation that requires high market flexibility is the business management process. Starting from the process of receiving raw materials to get into the production process, send to the warehouse department to store the products systematically, including deliver the products to consumers promptly. For this reason, many companies around the world have adopted a warehouse management system for predicting, forecasting and checking the status of the products any time. It causes more efficient in internal business process management. At the same time, the type and size of the business cannot apply the same warehouse management system. With different type, size and form of operation process, many companies have an investment situation with an inefficient use of an information system in the organization. It is a wrong decision in applying various systems without considering the related factors. For the study and development of inventory management systems for frozen food business in Thailand, since there are many businesses facing problems of error checking product process, affecting other processes such as raw material forecasting for production, etc. In addition, they are small and medium-sized businesses which their working process managed by the business owner with not many employees. Investment in the use of information systems is therefore a risk in investing and adjusting the form of operations. The result of this research is to analysis the problem and to summarize the requirements for the development of inventory management systems in frozen food business in Thailand in order to respond to the operation process systematically.