RMUTT GLOBAL BUSINESS ACCOUNTING AND FINANCE REVIEW

THE PRICE OF PERCEPTION: MENTAL ACCOUNTING AND MARKET-LEVEL IMPACTS IN RETAIL

Hanadi Suhail — 2026-06-30

Purpose – This paper examines the effects of mental accounting bias on decision-making within supply chains, focusing on suppliers, retailers, and end consumers. It investigates how mental accounting influences ordering behavior, pricing decisions, and interactions among supply chain participants, and explores the resulting market-level implications.

Body of knowledge – A narrative literature review was conducted to synthesize prior research on mental accounting in supply chain contexts. The analysis classified the evidence into three categories: reference point effects, risk aversion effects, and payment scheme effects. The reviewed studies indicate that mental accounting can lead retailers and consumers to deviate from optimal decision-making, particularly in online purchasing environments, inventory ordering, contract selection, and pricing behavior. The findings also highlight how behavioral biases propagate through supply chain relationships, creating ripple effects that influence overall supply chain performance.

Implications – The findings suggest that mental accounting may contribute to suboptimal inventory decisions, altered pricing strategies, and reduced profitability across supply chain actors. Retailers may order quantities that differ from optimal levels due to reference-dependent judgments and risk considerations, while payment schemes and digital purchasing channels may encourage increased spending and ordering behavior. These behavioral distortions can affect supply chain coordination and potentially influence market prices and aggregate supply.

Originality/Value – This study integrates evidence from behavioral economics and supply chain management to provide a structured classification of mental accounting effects within supply chains. By conceptualizing these effects as cognitive disruptions and examining their interconnected impacts on suppliers, retailers, and consumers, the paper offers a broader perspective on how behavioral biases influence supply chain outcomes and market dynamics.

XI JINPING ECONOMIC MODEL: XINOMICS

Apiwat Phakeenuya — 2026-06-30

Xinomics explore China economic change under Xi Jinping, focusing on stability, making its own technology, and sharing wealth more equal. Instead of just trying to make GDP bigger, China seems committed to building an economic system that can last and compete, as seen in its push to develop electric cars, expand the Digital Yuan, and invest a lot in the Belt and Road Initiative(BRI). While the book presents a well-researched and informative discussion, it would be even better if it had a more critical view of how these strategies are actually put into practice and what their limit might be. Still, for those who want to understand structural change in China's economy and how it affects the world, this book is a must-read.

LEADERSHIP COMPETENCY, WORK–LIFE BALANCE, AND ORGANIZATIONAL COMMITMENT AMONG ENGINEERING EMPLOYEES IN THAI LOW-COST AIRLINES: THE MEDIATING ROLE OF JOB SATISFACTION

Jidapa Nakhadumrongwut — 2026-06-15

Purpose – The purpose of this research was to examine how leadership competency and work–life balance of engineering employees of Thai low-cost airlines affects organizational commitment, with job satisfaction as a mediating variable.

Methodology – This quantitative research employed a survey method using validated questionnaires to collect data from 400 engineering employees in Thai low-cost airlines using purposive sampling. Data were analyzed using descriptive statistics (frequency, percentage, mean, and standard deviation) and inferential statistics, including Pearson’s product-moment correlation and Partial Least Squares Structural Equation Modeling (PLS-SEM) for hypothesis testing.

Results – The results confirmed that all measurement constructs achieved acceptable reliability and validity levels. Structural equation modeling revealed that leadership competency and work–life balance had significant positive effects on job satisfaction, while work–life balance and job satisfaction positively influenced organizational commitment. Leadership competency showed a significant negative direct effect on organizational commitment but demonstrated a positive indirect effect through job satisfaction, indicating competitive partial mediation. In addition, job satisfaction significantly mediated the relationships between leadership competency, work–life balance, and organizational commitment. These findings suggest that leadership competency may function as both a motivational and pressure-related resource in high-pressure aviation contexts.

Implications – The findings suggest that Thai low-cost airlines should treat job satisfaction as a key driver of organizational commitment among engineering employees. Leadership development should not focus only on technical and performance skills, but also on supportive communication, fairness, and interpersonal understanding. At the same time, work–life balance should be strengthened through better workload management, shift planning, and recovery time. These actions can help airlines improve employee commitment, retain skilled engineers, and support stable operations.

Originality/Value – This research provides evidence from Thai low-cost airline engineers, a high-pressure and safety-critical context. Its main contribution is showing that leadership competency had an unexpected negative direct effect on organizational commitment, while also having a positive indirect effect through job satisfaction. This competitive partial mediation highlights the paradoxical role of leadership competency in aviation engineering work.

ROLES OF COST MANAGEMENT PRACTICES IMPLEMENTATION OF LOCALLY OWNED HOTELS IN THE SOUTH OF THAILAND

Buntarika Jaikrajang — 2026-06-17

Purpose – This study investigates the cost management practices employed by locally owned hotels in southern Thailand.

Methodology – The sample consists of 54 registered hotels in Muang District, Surat Thani. All hotels are included in the study using a census sampling method. Data were collected through self-administered questionnaires completed by the hotel managers.

Results – Over half of the surveyed hotels were medium-sized, with an average operational history of approximately 10 years. Notably, 40.7% of the hotels had no clearly claimed star rating. Room pricing was influenced primarily by departmental costs. Cost control and target costing were particularly implemented in the Food and Beverage, Housekeeping, and Finance and Accounting departments.

Implications – The findings suggest that hotel managers should strengthen their cost monitoring systems, particularly in the Food and Beverage, Housekeeping, and Finance and Accounting departments, where cost control and target costing are most actively applied. Enhancing cost management practices in these key departments can help hotels optimize pricing strategies, improve profitability, and remain competitive, especially in the highly dynamic tourism market of southern Thailand.

Originality/Value – The study concludes that the long-term sustainability of hotel businesses cannot depend solely on leveraging existing operational opportunities. Instead, modern cost management techniques and strategic financial planning must be adopted to achieve sustainable growth.

The THE RELATIONSHIP BETWEEN DIGITALLY INTEGRATED INTERACTIVE BRAND COMMUNICATION AND ORGANIZATIONAL PERFORMANCE OF A CHINESE LEADING DOMESTIC DOWN COAT BRAND

Min Shou — 2026-06-26

Purpose - The objective of this research is to examine the effect of Digitally Integrated Interactive Brand Communication (DIIBC) on the organizational performance of leading domestic down coat brands in China. The study specifically aims to understand how traditional manufacturing industries can leverage digital transformation to enhance competitiveness and transition from lower-priced segments to premium market segments through strategic digital integration.

Methodology - The study utilized a non-probability sampling method collecting data from 400 respondents consisting of senior executives and department heads across 80 companies in the down coat industry in Jiangxi Province, China. Data was gathered via an online survey platform (WenJuanXing), supplemented by email and phone follow-ups. Statistical analysis was performed using SPSS to conduct one-way ANOVA and multiple regression to test the relationships between demographic factors, DIIBC components, and organizational performance.

Results - The analysis provides strong empirical support for the positive impact of DIIBC on organizational performance, with the regression model explaining 98.9% of the variance (R² = 0.989). “Two-Way Interaction and Responsiveness” emerged as the most significant predictor of performance (β = 0.749), followed by “Personalization and Relevance” (β = 0.413). Additionally, the study found that different demographic factors-specifically gender, age, and job position-result in statistically significant differences in perceived organizational performance.

Implications - The findings suggest that traditional manufacturing firms should prioritize interactive and personalized digital communication strategies to achieve substantial performance benefits. Strategically, organizations should invest heavily in responsive, two-way communication channels (such as live-streaming and AI customer service) and develop sophisticated data analytics for customer personalization to remain competitive in an increasingly open and digital Chinese market.

Originality/Value - This research represents the first empirical test of the DIIBC construct within a traditional manufacturing sector, specifically the Chinese apparel industry. It extends digital transformation literature by validating that integrated digital communication is a critical mechanism for domestic brands to reposition themselves upmarket against international premium competitors.

ACCELERATING DIGITAL TRANSFORMATION SUCCESS THROUGH AGILE LEADERSHIP: THE MEDIATING ROLES OF ORGANIZATIONAL AGILITY AND MULTI-GENERATIONAL TEAM MANAGEMENT IN THAI BUSINESSES

Prokchol Ngamsiri — 2026-06-26

Purpose – This research aimed to examine the influence of agile leadership on digital transformation success in Thai business organizations, particularly the mediating roles of organizational agility and multi-generational team management.

Methodology – This research employed a quantitative design. Data were collected from 385 executives, supervisors, and employees across various industries in Thailand using validated survey instrument. Partial Least Squares Structural Equation Modeling (PLS-SEM) was applied to assess the measurement model and test the hypothesized relationships.

Results – The structural model results indicated that agile leadership had a significant positive effect on digital transformation success (β = 0.150, p < .05), organizational agility (β = 0.746, p < .001), and multi-generational team management (β = 0.729, p < .001). Organizational agility (β = 0.324, p < .001) and multi-generational team management (β = 0.240, p < .01) also had significant positive effects on digital transformation success. Mediation analysis confirmed that both variables partially mediated the relationship between agile leadership and digital transformation success, suggesting that leadership influences digital transformation not only directly but also through organizational and managerial mechanisms. The model explained 42.4% of the variance in digital transformation success (R² = 0.424).

Implications – The research findings suggest that Thai organizations should systematically develop agile leadership capabilities while strengthening organizational agility and multi-generational team management practices. Emphasizing decentralized decision-making, adaptive structures, and inclusive management across generational differences may enhance digital transformation outcomes.

Originality/Value – This research contributes to leadership and digital transformation literature by clarifying the structural pathways through which agile leadership drives digital transformation success in the context of Thai organizations characterized by hierarchical structures and generational diversity.

GUIDELINES, MEASURES, AND ADAPTATION STRATEGIES TO SUPPORT THE TRANSITION OF COMPANIES TOWARD ESG-BASED BUSINESS

Sanisa Thanikornchot — 2026-06-27

Purpose – This study develops guidelines, measures, and strategies for Thai listed companies transitioning toward ESG-driven business operations, framed as an “18-Month ESG Roadmap.”

Methodology – The roadmap integrates the Context, Input, Process, and Product (CIPP) model with Management by Objectives (MBO) principles across seven stages (Phases 0–6). Its core components include a Double Materiality assessment, an organizational structure based on the Three Lines of Defense model, and a comprehensive Master ESG Data Dictionary together designed to link sustainability performance with the organization's financial value. The framework was validated using the Appropriateness Evaluation Criteria Framework (AECF), drawing on insights from 30 subject-matter experts to confirm its suitability, feasibility, and practical utility.

Results – The resulting measures serve as a strategic instrument enabling listed companies to strengthen their position in the SETESG Index and secure sustainable competitive advantage in the Thai capital market. Expert evaluation under the AECF model rated the manual and strategies at the highest level of approval, confirming their effectiveness amid the accelerating global and local trend toward sustainable investing.

Implications – The validated guidelines function as a strategic blueprint, helping companies cultivate a distinct competitive edge while streamlining access to capital through enhanced institutional credibility.

Originality/Value – The study's contribution lies in providing listed companies with actionable ESG management strategies and frameworks for sustainable growth. By adopting these practices, organizations can drive positive transformation in the Thai capital market, aligning corporate objectives with both international sustainability trends and national policy directions.

DEVELOPMENT OF COMMUNICATION STRATEGIES AND FACTORS AFFECTING PERCEPTION, UNDERSTANDING, AND COMMUNICATION EFFECTIVENESS OF THE UNIVERSAL HEALTH COVERAGE SYSTEM IN BANGKOK METROPOLITAN AREA

Sitthapawee Thanasottigulnun — 2026-06-30

Purpose – This study aims to investigate the causal factors affecting perception, understanding, and communication effectiveness regarding the Universal Health Coverage system in the Bangkok Metropolitan Area, and to develop guidelines for enhancing communication strategies.

Methodology – A mixed-methods approach was employed. Quantitative data were collected through questionnaires from 400 hundred cardholders who had utilized medical services in the metropolitan area and analyzed using structural equation modeling. Qualitative data were gathered through in-depth interviews and focus group discussions with health communication experts, system administrators, and citizen representatives, followed by thematic content analysis.

Results – Quantitative findings revealed that source credibility and social learning are the most critical driving factors. They indirectly influence perception, understanding, and communication effectiveness through the mediating roles of health literacy and persuasive communication. Conversely, the mere presence of communication channels showed no statistically significant effect. Qualitative insights supplemented these findings, emphasizing the need for easily accessible channels, credible personnel, and clear information to bridge the gap between systemic misconceptions and actual service experiences.

Implications – Communication strategy development should prioritize building credibility through medical personnel and promoting social interaction via community networks over merely increasing the number of communication channels. Enhancing communication effectiveness requires an integrated approach encompassing tailored channels, official endorsements, rights education, persuasive techniques, and systematic evaluation, implemented alongside service quality improvements.

Originality/Value – This research advances health communication literature by demonstrating that in an information-rich urban context, source credibility and social learning supersede the availability of channels as primary catalysts for health literacy and persuasion. It offers a novel integrated causal model and actionable strategies specifically tailored for a highly diverse metropolitan population.

UNDERSTANDING THAILAND’S TOURISM THROUGH THE 4A’S: HOW TOURISM COMPONENTS SHAPE IMAGE AND TOURIST SATISFACTION

Sarayut Nathaphan — 2026-06-30

Purpose – This study aims to examine the relationships among tourism components, destination image, and tourist satisfaction in Thailand from a nationwide perspective. It focuses on four core destination components—attractions, accessibility, amenities, and ancillary services—to identify which elements most strongly enhance destination image and contribute to tourist satisfaction.

Methodology – Data were collected through an online questionnaire from tourists who had recently visited Thailand. Structural model analysis was employed to examine the interactions among tourism components, destination image, and tourist satisfaction. The study used responses from a diverse group of visitors across Thailand rather than focusing on a single city or event, allowing for a broader understanding of the national tourism context.

Results – The findings reveal that although attractions remain an important element of tourism, amenities and ancillary services have the strongest influence on destination image. Destination image, in turn, positively contributes to tourist satisfaction. These results highlight the importance of combining tangible destination features, such as facilities and infrastructure, with intangible aspects related to convenience, comfort, and service experience.

Originality/Value – The originality of this study lies in its nationwide scope and its contribution to understanding tourist behavior as a form of consumer decision-making. The findings provide useful insights for tourism authorities and industry stakeholders in enhancing destination competitiveness, strengthening destination image, improving visitor satisfaction, and supporting sustainable tourism development in Thailand.

FACTORS INFLUENCING EXPECTATIONS AND ACCEPTANCE OF DRONE DELIVERY SERVICES: A CASE STUDY IN THAILAND

Pawarisa Em-ot — 2026-06-30

Purpose – This study aims to examine the effects of macro-environmental factors on consumer expectations and the acceptance of drone delivery services within the context of Thailand’s logistics industry.

Methodology – A quantitative cross-sectional research design was employed. Data were collected from 400 consumers in Bangkok and surrounding metropolitan areas using a structured questionnaire and analyzed through Partial Least Squares Structural Equation Modeling (PLS-SEM) to assess reliability, validity, and the relationships among the proposed constructs.

Results – The findings indicate that macro-environmental factors significantly influence consumer expectations and exert a direct effect on the acceptance of drone delivery. Consumer expectations also have a positive effect on acceptance and serve as a mediating variable between macro-environmental factors and drone delivery acceptance.

Implications – The results highlight the importance of developing technological infrastructure, improving regulatory and public policy frameworks, and communicating service value to consumers in order to strengthen trust and accelerate the sustainable commercial adoption of drone delivery services.

Originality/Value – This study provides new empirical evidence from a developing economy perspective by integrating macro-environmental factors and consumer expectations into a comprehensive technology acceptance framework, thereby extending existing knowledge and supporting innovation strategies in emerging logistics markets.