Economics and Business Administration Journal Thaksin University

A Study of Logistics Management Components for Sustainable Tourism in Satun Geopark

Phannipha Anuruksakornkul — 2024-05-01

A study of logistics management components for sustainable tourism in Satun Geopark to find a sustainable logistics management approach for Satun Geopark. This research is a qualitative research. The secondary data used in this analysis are from Satun Geopark management master plan, Satun tourism information, Satun provincial strategic development plan, and documents of the Department of Mineral Resources. The primary data on the supply side used in this analysis are the onsite survey in the linked area total of 28 sites of Satun Geopark listed as UNESCO Global Geosites, and the executives, and officers’ in-depth interviews from both public and private sectors. The primary data on the demand side used in this paper is the survey from more than 400 tourists. Data were analyzed using descriptive statistics and content analysis.

The research findings present four components of logistic management for sustainable tourism: transportation, amenities, geological resources and landscape, and environmental management in which all features adhere to the principles of sustainable development, applying information technology and tourism innovation.The recommendations for logistic management for sustainable tourism in Satun Geopark classified into four components are 1) transformation: each LAO in the Satun Geopark invests in public transportation services in the form of a unique wooden minibus, Satun Geopark Association creates the Geopark “Grab & Guide” tourist service application 2) Amenities: Satun Geopark has to build a network with the communities to create services such as homestays, Halal symbol at the hotels and restaurants. The mobile networks, internet, and WIFI have to be improved to cover all areas 3) Natural Resources and Landscape: Geological resources and landscape are including natural areas, geological areas, cultural heritage, and landscape design. Satun Geopark has excellent geological resources and landscapes and has reasonable management. Evaluate the tourists’willingness to pay to determine the appropriate National Park and geosites. Manage the entrance fee collection system efficiently and can be verified. There must be the integration of collaboration among the departments and agreement to develop the geosites in the same direction 4) Environmental management: the LAOs must be responsible for preventing pollution, especially during the tourist season with many tourists.

Board Characteristics and Firms Risk Management: Evidence from Thailand

Warit Rattanaphan — 2024-05-01

The purpose of this study is to investigate the impact of board characteristics consisting of gender, age, education level, length of tenure of executives, and the number of committees on firm risk management. The sample is 596 listed companies in the Stock Exchange of Thailand (SET). The analysis is based on the data of the characteristics of the Board of Directors of firms in year 2021. The results from Ordinary Least Squares show that independent variables that are female directors on the board and the number of committees have negative relationship with firm risk management at a statistically significant level of 0.05. On the other hand, level of education of directors lower than bachelor's degree has positive relationship with firm risk management. This reveal that firms with female board members and many numbers of committees’ trend to choose a policy that has low risks. However, having an executive director whose education is lower than a bachelor's degree tends to increase the risk of the business. The control variables are the book value of total assets and the return on total assets in the previous year have a negative relationship with firm’s risk management. The ratio of total debt to total assets correlated in the same direction with the risk of corporate management at a statistically significant level of 0.01.

The Causal Relationships of Human Resource Development, Competitive Advantage and Business Success of Small and Medium Enterprises (SMEs) in Thailand

Apiradee Khamlai — 2024-05-01

The objectives of this research were to study 1) the influence of human resource development and competitive advantage on business success of small and medium enterprises (SMEs) in Thailand. 2) the competitive advantage as the mediator between human resource development and business success of small and medium enterprises (SMEs) in Thailand. 3) to examine the consistency of the relationship model developed with an empirical data. The sample were 165 firms chosen by stratified random sampling. A questionnaire was used as the instrument. Statistics were frequency, percentages, mean, standard deviation, skewness, kurtosis, correlation coefficient, and path analysis were used to find out causal relationship with structural equation models (SEM).

The results showed that the measurement model was valid and well fitted to the empirical data with x²/df=1.258, p-value=0.104, GFI=0.944, CFI=0.987, NFI=0.942, IFI=0.988, AGFI=0.912, RMSEA=0.04.In addition, the findings revealed that human resource development and competitive advantage have a positive effected on business success. On the other hand, Human resource development has a positive effected on competitive advantage.The results also shown that the competitive advantage had a mediating effect on the relationship between human resource development and business success of small and medium enterprises (SMEs) in Thailand.

A Structural Equation Model of Factors Affecting Tourism Business Competitive Advantage in the Andaman Coast

Nutsana Na Phayap — 2024-05-01

The purpose of this research is to examine a structural equation model of factors affecting the competitive advantage of the tourism business in Andaman coast. This research is quantitative research. The population is 1,978 tourism businesses in the Andaman coast area. The researcher used a simple sampling method and the sample size was 360 samples, the questionnaire was used as a tool for collecting data. Then the data were analyzed using the LISREL program version 11 version 11.0.3.2.

The results of the analysis of factors affecting the effectiveness of the tourism business in southern Thailand was consistent with the empirical data, which found that RMSEA was 0.069, NNFI was 0.95, CFI was 0.90, and SRMR was 0.015. When considering the causal factors, it was found that innovation in business directly affects competitive advantage. Human capital management directly and indirectly affects competitive advantage through innovation in business. Adaptation in business directly affects competitive advantage and indirectly affects competitive advantage through innovation in business. The results of this research can be used as a guideline to develop the competitive advantage of the tourism business in the Andaman coast further.

Financial Literacy: Determinants and Effects on Over-Indebtedness of Muslim Households in Southern Border Provinces of Thailand

Phattanan Boonyanuphong — 2024-05-01

This study is a survey research project aimed at analyzing the financial literacy of households and the impact of financial literacy on over-indebtedness of Muslim households in the southern border provinces of Thailand. The data were collected using a structured questionnaire from a sample of 825 Muslim households. The effects of financial literacy on the over-indebtedness of the households were studied using appropriate descriptive statistics and logistic regression analysis.

The study found that Muslim households in the southern border provinces had moderate financial literacy, while their financial knowledge and financial attitude scores were relatively low. Financial literacy had no significant influence on a household's over-indebtedness behavior, according to the study. However, it found that households' increased financial knowledge and financial attitudes increased their likelihood of over-indebtedness. On the other hand, having better financial behavior will significantly reduce the possibility of over-indebtedness households. It also found that other factors such as age, gender, level of education, and level of income influenced household over-indebtedness. According to the findings, the older the head of the household is and the higher his level of education, the more likely a household is to incur excess indebtedness. Meanwhile, women-headed households and high-income households significantly reduce their households' chances of incurring excessive debt.

The findings suggest that good financial behavior can significantly reduce household over-indebtedness. Therefore, policymakers should take action to promote household financial literacy to an appropriate level that will create financial discipline for households, leading to balanced financial management.

Guidelines for Community-Based Innovation and Career Development of Kae Noi Royal Project Member Farmers’ Group

Kajornatthapol Pongwiritthon — 2024-05-01

The purpose of this study was to study and analyze how participation in Guidelines for Community-Based Innovation and Career Development of Kae Noi Royal Project Member Farmers’ Group affects career change, and self-assessment participants learn to develop career skills in terms of knowledge and skill level assessment. As well as in terms of assessing the level of indirect impact to find the guidelines for the career development scholarship program and the community-based innovation of the Northern Economic Corridor farmers’ group: Kae Noi Royal Project.Determination of sample size using a non-probability sampling method by starting with the technique of quota sampling of 60 people. The convenience sampling method and purposive sampling method were also used in this study. The participants must voluntarily provide information and participate in the project. Data collection using questionnaires and semi-structured interviews through various activities. Data were analyzed using descriptive statistics and content analysis. The results showed that the self-assessment participants learned to develop career skills in the project and had opinions at a high level in all aspects, including the aspect of living and learning with the community and the aspect of the level of indirect impact assessment of project participants.The guidelines for community-based innovation and career development scholarships that the community has accepted knowledge sets (paradigms) should focus on the aspects as follows: 1) K4 keys, which include 1.1) key persons or groups with expertise in the subject, 1.2) Indigenous cultures and cross-cultural gaps, 1.3) social and community products, and 1.4) career and entrepreneur skill courses. 2) I3, which include 2.1) in cash or the sources of funding or budget, 2.2) in kind or the sources of knowledge, and 2.3) in knowledge management. And 3) trust, which is the return of knowledge gained to the community, and information reflection and follow-up “borrowed information and return information to the community”.

Factors Affecting the Decision of Tutoring Schools among High School Students in Hatyai District, Songkhla Province

Walita Tongbunmak — 2024-05-01

This study aimed to study the factors Affecting the decision of tutoring schools among high school students in the Hatyai district, Songkhla province. A sample group of 400 individuals was used, and data was collected through questionnaires. The data was analyzed using Multinomial Logistic Regression Model.

The analysis using Multinomial Logistic Regression revealed that personal factors such as the school attended, gender, grade level, parents' occupations, parents' income, and family size significantly influence the choice of tutoring school among high school students in Had Yai district, Songkhla province. In terms of behavioral factors, the subjects chosen for tutoring, tuition fees, number of days per week attending tutoring, tutoring format, and tutoring style also have a significant impact on the choice of tutoring school among high school students in the Had Yai district, Songkhla province.

Key Success Factors for Enhancing the Revenue Growth of Tourism Businesses along the Andaman Coast of Thailand during the COVID-19 Pandemic

Wipada Thaothampitak — 2024-05-01

This research aims to 1) study key success factors in business operations of tourism enterprises belong the Andaman Coast of Thailand and 2) examine the influence of implementing key success factors on the revenue growth of the tourism enterprises. Quantitative research method was used. Data was collected from 419 tourism entrepreneurs along the Andaman Coast of Thailand using a questionnaire. The data was analyzed using descriptive and inferential statistics, including frequencies, percentages, means, standard deviations, and OLS regressions. Research results revealed that there was a high level of implementation of key success factors, included business partner, service quality, and hygiene standard, in the business operations of the enterprises. In addition, the OLS results revealed that some elements of the key success factors had a statistical influence on the tourism enterprises’ revenue growth both overall and for those classified as first-tier and second-tier tourism cities. In regard to recommendations, key tourism enterprise management and stakeholders should be made aware of the importance of the implementation of key success factor principles and take their importance for successful business operations, appropriately due to the need for tourism enterprises to have a systematic approach and method to cope with the changes and crises that might occur in the future and also influence on the revenue growth for tourism business as well.

The Effects of Knowledge Sharing Behavior on Employee Performance: The Mediating Role of Innovative Work Behavior

Somruedi Songthip — 2024-05-01

The purposes of this research were to study the relationship between knowledge sharing behaviors, innovative work behaviors, and employee performance and to analyze the role of innovative work behaviors as a mediating variable between knowledge sharing behaviors and employee performance. The sample consisted of 220 employees from a supplement manufacturer in Chon Buri. A questionnaire was used to collect data through proportionate stratified sampling. The structural equation models were used for testing hypotheses. The findings revealed that the measurement model had reliability and validity. The model of relationship between knowledge sharing behaviors, innovative work behaviors, and employee performance best fits the empirical data with CMIN/DF = 1.657, CFI = 0.990, GFI = 0.962, AGFI = 0.923, RMR = 0.014, RMSEA = 0.055. The path analysis results show that knowledge sharing behaviors have a significant positive impact on employee performance. Knowledge sharing behaviors have a significant positive impact on innovative work behaviors, which have a significant positive impact on employee performance. From the test of the mediating role of innovative work behaviors, it is revealed that innovative work behaviors serve as a partial mediator in the relationship between knowledge sharing behaviors and employee performance. The variance of the knowledge sharing and innovative work behavior variables explains 41% of the variance of employee performance.

Attributes of Business Administration Graduates from Stakeholder Perspectives: Case Study of Prince of Songkla University, Pattani Campus

Phathara-on Wesarat — 2024-05-01

Unemployment of new graduates remains because of a mismatch between employer demands and graduate attributes. To reduce the skills gap, the study programs need to know what attributes are required by stakeholders. This study aims to identify the attributes of business administration graduates based on the requirements of stakeholders, and to determine the importance of the attributes of business administration graduates. The qualitative data was collected from stakeholders consisting of 17 internal stakeholders and 29 external stakeholders. Based on qualitative data analysis approach, the data was analyzed and thematically categorized by researchers. The study found that the importances of both generic and specific attributes of graduates were mentioned by stakeholders. The attributes of business administration graduates include 36 generic attributes and 3 specific attributes. This study suggested that the study programs should integrate the attributes of graduates into curriculum design and provide students with teaching and learning activities that enable them to develop the expected attributes. However, this study investigated graduate attributes specifically for the Bachelor of Business Administration Program, Faculty of Humanities and Social Sciences, Prince of Songkla University, Pattani Campus. The results of the study may not be generalized to other programs of study or other areas because the required graduate attributes in a specific area can be different than others.

Do Intra-industry Peer Effects Influence the Debt Financing Policy of Companies Listed in Thailand?

Sirada Nuanpradit — 2024-05-01

Rational imitation of financial policies, namely peer effects, was documented to prevail among firms within an industry in both developed and top emerging economies. Lacking evidence from medium-sized emerging Asian countries, this study examined intra-industry peer effects, i.e., imitation, on debt financing at Thai listed companies. The sample consisting of the firms listed on the Stock Exchange of Thailand (SET) during the years 2001–2018 was incorporated to discover those effects. Numerous databases associated with the SET (e.g., SETSMART) and the firms’ websites were used to collect financial numbers. With 6,058 firm-year observations, unbalanced panel data was then analyzed by using the random-effects and fixed-effects ordinary least squares models as well as the two-stage least squares regression. The main findings show that a focal firm imitates the long-term debt financing of its industry peers. Using the instrument approach to address endogeneity, the key results are confirmed. Peers’ equity shock as the instrumental variable decreases their financing with debt, subsequently lowering debt levels at a focal firm. This mimicking was operated through peer action, not peer character, i.e., performance. In additional tests, severe market competition was found to strengthen the uniformity of decision-making on debt finance among industry peers. Meanwhile, the high cost of information embedded in innovation-driven businesses has not been found to both promote and reduce peer effects on debt finance. Including the extra control variables at firm-specific levels, the key results remain robust. This study highlights a vein of social learning theory and competition-based theory in discussing herding behaviors toward all member firms in a certain industry. The conclusions enrich the literature on peer effects on debt finance policy.

Editorial

Anuwat Songsom — 2024-05-01