The Effect of Financial Risk and Enterprise Internal Management on Enterprise Performance of Automotive and Automotive Part Industry in Thailand
Article Sidebar
Main Article Content
บทคัดย่อ
The main objective of this study is to examine factors affecting financial risk management and enterprise internal management on enterprise performance of automotive and automotive parts industry in Thailand using empirical data. The sample was chosen from companies in automotive parts manufacturing industry in Thailand. The questionnaires were distributed to 334 respondents. The statistics were descriptive statistics, confirmatory factor analysis and structural equation model. The results show that the conceptual model aligned with the empirical data. (c2=121.331, p = .279, c2/df = 1.074, GFI = 0.962, AGFI = 0.936, CFI = 0.998 RMSEA = 0.015) The findings indicated that financial risk management had positive impacts on enterprise internal management at significance level 0.01. Enterprise internal management had positive impacts on enterprise performance at significance level = 0.01 Furthermore, the outcome showed that financial risk management had direct and indirect impacts on enterprise performance at significance level = 0.01. which confirmed the relationship of factors that influenced enterprise performance in Thailand’s automotive industry.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
บทความที่จะตีพิมพ์เพื่อเผยแพร่ในวารสารการจัดการธุรกิจ มหาวิทยาลัยบูรพา จะต้องเป็นบทความที่ไม่เคยได้รับการตีพิมพ์เผยแพร่หรืออยู่ระหว่างการพิจารณาเพื่อตีพิมพ์เผยแพร่ในวารสารอื่น ๆ ทั้งนี้ หากพบว่ามีการละเมิดลิขสิทธิ์ ด้วยข้อคิดเห็นที่ปรากฏและแสดงในเนื้อหาบทความต่าง ๆ ให้ถือว่าเป็นความเห็นและความรับผิดชอบโดยตรงของผู้เขียนบทความนั้น ๆ มิใช่ความเห็นและความรับผิดชอบใด ๆ ของคณะบริหารธุรกิจ มหาวิทยาลัยบูรพา สำหรับในกรณีผู้ประสงค์จะนำข้อความในวารสารการจัดการธุรกิจ มหาวิทยาลัยบูรพา ไปเผยแพร่ต้องได้รับอนุญาตจากกองบรรณาธิการวารสารการจัดการธุรกิจ มหาวิทยาลัยบูรพา ตามกฎหมายว่าด้วยลิขสิทธิ์
References
Angsuphan, P. (2019). Risk Management Report: Siam Steel Service Center Public Company Limited. Retrieved March 28, 2019, from http://www.ssscth.com/shearholder/2/243.pdf.
Attamana, S. (2002). Organizational behavior, theory, and application. Bangkok: Thammasat Univesrity Press.
Babich, V., & Kouvelis, P. (2018). Introduction to the special issue on research at the interface, operations, and risk management (iForm): recent contributions and future directions. Manufacturing & Service Operations Management, 20(1), 1-18.
Blunch, N. (2013). Introduction to Structural Equation Modeling Using IBM SPSS Statistics and AMOS (2rd ed.). Croydon: SAGE.
Byrne, B. (2016). Structural Equation Modeling with AMOS Basic Concepts, Applications, and Programming (3rd ed.). New York: Routledge.
Chamnanchang, K. (2013). Knowledge audit, knowledge management and organizational performance: scg paper public company limited, Thesis, Master of Business Administration, Faculty of Business, Economics and Communications, Naresuan University.
Chunthapong, S., & Tonghui, T. (2020). The Global economy and Thai economy post COVID-19. Retrieved April 30, 2021, from https://www.bot.or.th/Thai/BOTMagazine/Pages/256303_ CoverStory.aspx.
Chunying, T., Songyam, C., Zhaobo C., & Ding, Z. (2020). Why and How Does a Supplier Choose Factoring Finance?. Mathematical Problems in Engineering, 2020,14. https:// doi.org/ 10.1155/2020/9258646
Gao, J. (2020). Price Strategy of Competitive Supply Chain Based on Bank Financing. Mathematical Problems in Engineering, 2020,13. https://doi.org/10.1155/2020/3272348.
GSB Research. (2019). Automotive industry. Retrieved May 10, 2019, from https://www.gsb.or.th/ getattachment/07c2aa6e-9bc2-4682-8a9e-90b057178223/motor_61_62.aspx.
Guragai, B., & Hutchison, D. P. (2020). Financial performance following discontinued operations, Review of Accounting and Finance, 19(4), 429-447.
Hair, F., Black, C., Babin, J., & Asderson, E. (2010). Multivariate data analysis (7th ed.). New Jersey: Prentice Hall.
Huang, J., Yang, W., & Tu, Y. T. (2020). Financing mode decision in supply chain with financial constraint. International Journal of Production Economics, 220, 1-12.
Huijun, H., & Jing, Z. (2016). Recourse accounts receivable factoring financing ratio research based on multinational supply chain. 2016 13th International Conference on Service Systems and Service Management (ICSSSM), (pp. 1-4). Institute of Electrical and Electronics Engineers (IEEE).
Hwang, H. J. (2014). A proposal for an open-source financial risk model. Journal of Financial Regulation and Compliance, 22(3), 219–234.
Jabbour, C., Jabbour, A., & Sarkis, J. (2019). Unlocking effective multi-tier supply chain management for sustainability through quantitative modeling: Lessons learned and discoveries to be made. International Journal of Production Economics, 217, 11–30.
Jean, R., Sinkovics, R., & Zagelmeyer, S. (2018). Antecedents and Innovation Performance Implications of MNC Political Ties in the Chinese Automotive Supply Chain. Management International Review, 58, 995-1026.
Mishra, K. B., Rolland, E., Satpathy, A., & Moore, M. (2019). A framework for enterprise risk identification and management: the resource-based view, Managerial Auditing Journal, 34(2), 162-188.
Pavabutr, P. (2008). Foreign exchange crisis and financial competitiveness. Academic Journal 60 Years: On the occasion of the 60th anniversary of the Faculty of Commerce and Accountancy Thammasat University, 1(1), 179-219.
Pipatanasern, A. (2011). Accounting for Executives and Non-Accountants. (2rd ed.). Bangkok: Dktoday.
PricewaterhouseCoopers. (2007). Risk management guidelines. (2rd ed.). Bangkok: PricewaterhouseCoopers
Quang, H., & Hara, Y. (2017). Risk and performance in supply chain: the push effect. International Journal of Production Research, 56(4), 1369-1388.
Sangsunt, P., & Khongsawatkiat, K. (2009). Fundamentals of corporate finance. Bangkok: McGraw-Hill.
Sawat, W., & Tiyadah, P. (2021). Relation between logistics and enterprise performance of automotive industry in Thailand. Silapakron University Journal. 41(4), 78-89.
Shin, H., & Park, S. (2020). The internal control manager and operational efficiency: evidence from Korea, Managerial Auditing Journal, 35(7), 979-1006.
Sritiprat, T. (2014). Leadership in the planning process Coordination and operations that affect the quality of working life in the organization. Case study: employees of Telecommunication Company in Bangkok. Independent study, Master of Business Administration Program, Graduate School, Bangkok University.
Tamajai, A. (2020). Assess the economy post global epidemic COVID-19. Retrieved March 30, 2020, from https://www.bangkokbiznews.com/news/detail/870698.
Tantunsat, W. (2009). The relationship between knowledge management and organization performance: A case study of Panomsarakham Hospital Chachongsao, Thesis, Master of Public Policy and Public Management, Faculty of Graduate Studies, Mahidol University.
Thai Autoparts Manufacturers Association. (2018). Thailand Automotive Industry Directory 2018. Samut Prakan: Phongwarin Printing Limited.
Thailand Automotive Institute. (2012). Automotive industry master plan 2012-2016. Bangkok: Ministry of Industry
Thansettakij. (2020). Automotive industry hopes to sell1 million vehicles in A.D.2020. Retrieved February 20, 2020, from https://www.thansettakij.com/content/
Tiyadah, P., & Sawat, W. (2020). The Causal Relationship of Risk in Accounting and Finance, Firm Internal Management, and Firm Performance within Supply Chain of Automotive and Automotive Parts Industry in Thailand. Journal of Economics and Management Strategy, 7(2), 75-92.
Tongsokhowong, A. (2017). Administrative Cost Accounting: Performance Assessment and Equilibrium Management. Retrieved March 20, 2017, from https://home.kku.ac.th/ anuton/966232/Chapter16.pdf.
Vanichbuncha, K. (2014). Analysis Structure Equation Model (SEM) with AMOS. (2nd ed.). Bangkok: Samrada.
Wisuteewong, G., & Rompho, N. (2015). Linking Balanced Scorecard and COSO ERM in Thai Companies. Journal of Management Policy and Practice, 16(2), 127-134.
Yang, S. A., & Birge, J. R. (2018). Trade credit, risk sharing, and inventory financing portfolios. Management Science, 64(8), 3469-3970.
Yongpisanphob, W. (2020). Automobile Industry/Business Trends 2020 - 2065. Retrieved January 15, 2020, from https://www.krungsri.com/bank/getmedia/a18aad1f-e16c-44d5-858f-df5e90fe8eab/IO_Automobile190805_TH_EX.aspx.
Yossomsakdi, C. (2007). Accounting for Administrators: A Basic Knowledge. Bangkok: MT Press.
Zhang, J. J., Nie, T., Huang, J. Z., & Chen, Y. (2016). Joint financing strategy for a cash-constrained supply chain. 2016 IEEE International Conference on Industrial Engineering & Engineering Management (IEEM), 764–768.
Zimmer, K., Frohling, M., Breun, P., & Schultmann, F. (2017). Assessing social risks of global supply chains: a quantitative analytical approach and its application to supplier selection in the German automotive Industry, Journal of Cleaner Production, 149, 96-10.