RMUTT GLOBAL BUSINESS ACCOUNTING AND FINANCE REVIEW

GAME THEORY AT WORK: HOW TO USE GAME THEORY TO OUTTHINK AND OUTMANEUVER YOUR COMPETITION

2023-12-28T23:25:35+07:00

“Game Theory at Work” asserts game theory's indispensable role in contemporary business strategy, offering a practical guide for understanding competitors' strategic pursuits. The book eschews complex mathematics, opting for a straightforward approach illustrated through lively case studies. It emphasizes the application of game theory in negotiating advantageous positions and managing employees effectively. With a view of business as a strategic game, the book provides accessible language to help readers instantly comprehend and navigate the dynamics of competitive scenarios, consistently maximizing outcomes. In essence, it positions game theory as a vital tool for success in the serious game of business, offering intellectual tools for strategic decision-making across various business facets.

RISK-RELATED FACTOR AND FINANCIAL ATTITUDE ON RETIREMENT SAVING BEHAVIOR

2023-09-27T13:43:40+07:00

Purpose – This research aims to analyze the influence of retirement risk-related factors and financial attitudes on saving behavior for retirement.
Methodology – The research was organized using 400 Thai employees in various occupations. This research analysis method was occupied by operating on structural equation modeling (SEM) Amos.
Results – The finding pointed out that risk-related factors have a positive effect on retirement saving behavior (0.441), and financial attitude has a positive influence on retirement saving behavior (0.750).
Implications – Workers should rely on risk-related factors and financial attitude factors to be successful in retirement savings. Also, this research helps people to realize and understand more about the relationship between risk-related factors, financial attitude, and retirement saving behavior. This empirical study makes a contribution in the form of a comprehensive model to explain risk-related factors and financial attitudes toward retirement saving behavior.
Originality/Value – This analytical framework reveals the relationship of financial attitudes and risk-related factors on retirement saving behavior. This article helps to investigate the effective factor on the retirement saving behavior for Thai retirement perspective.

THE EFFECTS OF DESTINATION AWARENESS, PERCEPTION OF DESTINATION, AND DESTINATION IMAGE ON TOURISTS’ INTENTION TO TRAVEL TOWARD ASEAN COUNTRIES

2023-10-03T15:52:03+07:00

Purpose – The purposes of this research were to study the effects of destination awareness, perception of destination, and destination image on tourists’ intention to travel toward ASEAN countries.
Methodology – The research methodology was quantitative research with survey method by using questionnaires for data collection. The respondents were 400 participants, who had experience of traveling to a foreign country, in Bangkok, Pathum Thani, and Nonthaburi Provinces of Thailand. Descriptive statistics used for data analysis included frequency, percentage, mean, and standard deviation. Due to hypothesis testing, inferential statistics used were Pearson’s Product Moment Correlation Coefficient and Partial Least Squares-Structural Equation Modeling (PLS-SEM).
Results – The results of hypothesis testing revealed that tourists’ destination awareness had positive effects on perception of destination and destination image while perception of destination had positive effects on destination image, and destination image had positive effects on tourists’ intention to travel toward ASEAN countries at a significance level of 0.001. In addition, perception of destination had a partial mediating effect on the relationship between destination awareness and destination image whereas destination image had a full mediating effect on the relationship between destination awareness and tourists’ intention, the relationship between perception and tourists’ intention, and the relationship between destination awareness and perception on tourists’ intention at a significance level of 0.001.
Implications – The findings present several implications for both academia and destination marketing practitioners, providing insights into crafting effective strategies to attract tourists to these destinations.
Originality/Value – This research sought to enhance comprehensive comprehension of the intricate interplay among destination awareness, destination perception, destination image, and intention to travel, elucidating their collective influence on tourism decisions. Also, the research can fill existing gaps in the literature and provide valuable insights for refining destination marketing strategies, particularly focusing on ASEAN countries.

RETURNS TO EDUCATION UNDER THE HUKOU SYSTEM: WHAT IS THE ROLE OF SCHOOL TYPE?

2023-10-26T15:29:57+07:00

Purpose – Estimating the gap in returns to education between China’s urban and rural areas based solely on education attainment can be misleading, especially when there are significant differences in the allocation of educational resources between urban and rural areas. This paper explores the relationship between school types, primarily representing the educational resources available in China, and education returns in urban and rural China under the Hukou system.
Methodology – This paper used data from the 2013 Chinese Household Income Project (CHIP) and applied the OLS method to estimate the traditional Mincer and extended models by adding school types.
Results – Firstly, we found that school types significantly impact income, and different types of schools have different returns on education. The returns to school type increase with the geographical administrative level of the school. In addition, in most cases, the impact of key schools on the income of urban people is more significant than that of rural people. Secondly, when we consider the effect of school type on income, the gap in education returns between non-agricultural Hukou groups and agricultural Hukou groups is widened compared to the results under the traditional Mincer model. Finally, migration does not appear to have brought the desired improvement to their education, with the returns to education for migrants being significantly lower than rural in some cases.
Implications – For individuals, especially those rural Hukou holders, investment in education should be strengthened to improve access to key schools. Providing equal access to quality education and reducing educational disparities between urban and rural areas is essential for the government.
Originality/Value – The results highlight the role of inequality in the allocation of educational resources and the inequality of educational opportunities among the groups with different Hukou statuses and also show that migrating to urban areas may place migrants in a more adverse environment.

ESG PERFORMANCE IMPACTING ON SYSTEMATIC RISK OF THE LISTED COMPANIES ON THE STOCK EXCHANGE OF THAILAND

2023-12-22T16:35:39+07:00

Purpose – The research aims to examine the effect of the performance of environmental, social, and corporate governance (ESG) on the systematic risk of the listed companies on the Stock Exchange of Thailand (SET).
Methodology – The sample data included 158 listed companies on the SET in 2022. Collected annual data were retrieved from financial statements and the stock exchange database system (SETSMART). The statistics used for analysis were descriptive statistics and inference statistics. Descriptive statistics included mean, standard deviation, maximum, and minimum, while inference statistics included correlation analysis and multiple regression analysis.
Results – The research results found that the mean of ESG performance in terms of ESG book and Refinitiv were quite equal at 54.25 and 53.49, respectively. The ESG performance in terms of the ESG book provided a negative relationship with systematic risks at the statistically significant.05 level, while the ESG performance in terms of Refinitiv showed no significant relationship with systematic risks. Interestingly, only the listed companies in the technology sector showed a positive relationship with systematic risks at a.01 statistically significant level.
Implications – The critical role of corporate ESG information is to assess a company’s long-term performance for sustainable growth. Therefore, the stock exchange of Thailand must provide knowledge about ESG indices to listed companies and investors to achieve sustainability for both business organizations and investors.
Originality/Value – This empirical study contributes as a specification model to explain how ESG performance impacts systematic risk. Additionally, the different ESG indices provide different results. This implies that a deep understanding of the ESG indices is necessary for listed companies and investors.

EXPLORING THE IMPACT OF LOCAL KNOWLEDGE ON BRAND EQUITY AND PURCHASE INTENTIONS: A CASE STUDY OF CULTURAL PRODUCTS IN PATHUM THANI

2023-11-02T10:35:22+07:00

Purpose – The purpose of this research was to provide a comprehensive picture of the enhancing cultural product purchase intentions of prospective customers by jointly studying the impact of local knowledge and brand equity on purchasing behavior as well as responding to recent calls for research in the local business literature, especially in Pathum Thani province in Thailand.
Methodology – The research methodology was quantitative research with survey method by using questionnaires for data collection. The respondents were 400 participants, who had experience of purchasing cultural products. Pathum Thani was selected to conduct the empirical analysis of this research. Descriptive statistics used for data analysis included frequency, percentage, mean, and standard deviation. Due to hypothesis testing, inferential statistics used was Structural Equation Modeling (SEM).
Results – The results of hypothesis testing revealed that cultural knowledge of the local area or the customers’ perception of community intelligence is the most influencing brand equity component. Furthermore, a positive relationship is observed between brand equity elements and purchase intentions of cultural products.
Implications – The findings present several implications for both academia and practical implications, highlighting the impacts of the customers’ perception of community intelligence on brand equity and purchase intentions for effective marketing strategies planning.
Originality/Value – This empirical study explores the impact of customers’ perception towards cultural knowledge or community intelligence play a crucial role for enhancing brand equity and purchase intentions of cultural products, particularly in Thai context.

CURRENT TRENDS IN STRATEGIC MANAGEMENT: A COMPARATIVE ANALYSIS OF SWOT AND SOAR APPROACHES

2023-09-11T09:26:14+07:00

Purpose – This review article explores the debate between traditional SWOT analysis and the emerging SOAR framework in strategic management. It aims to understand their comparative effectiveness in the modern complex business environment.
Body of knowledge – The results indicate that both SWOT and SOAR frameworks offer complementary strategic management approaches. SWOT is suitable for initial assessments and discussions, while SOAR is more aligned with innovation, collaboration, and positive organizational change.
Implications – SWOT and SOAR are strategic frameworks. SWOT evaluates an organization's strengths, weaknesses, opportunities, and threats, focusing on realistic assessment. SOAR, for strengths, opportunities, aspirations, and results, emphasizes potential and positivity, suitable for fostering growth in innovative settings.
Originality/Value – The originality of this work lies in its comparative analysis of two popular strategic frameworks, providing insights into their applicability and effectiveness in today's dynamic business landscape. The value of this analysis is in guiding organizations to choose the appropriate framework based on their specific strategic needs.