Economics and Business Administration Journal Thaksin University

Editorial

Anuwat Songsom — 2026-04-29

Student Loan Fund Management in the New Era: Current Conditions and Expectations of Universities in Songkhla Province

Weena Leelaprasertsil — 2026-04-29

The Student Loan Fund (SLF) has played a significant role in reducing educational inequality in Thailand; however, the recent amendments under the Student Loan Fund Act (No. 2), B.E. 2566 (2023) revealed a research gap regarding how higher education institutions adapt their management systems, particularly in local contexts with diverse socioeconomic conditions. Such knowledge is essential for developing policies that align with the revised Act and the needs of key stakeholders. This study aimed to examine the current conditions and expectations of SLF management in universities in Songkhla Province. The sample comprised 400 student borrowers and 10 SLF officers from five universities. A questionnaire validated through IOC and Cronbach’s Alpha was used for data collection and the data were analyzed using descriptive statistics mean and standard deviation. The findings indicated that student borrowers perceived the current management performance at a high level (𝑥̅ = 4.29) emphasizing the convenience of digital loan systems low interest rates and flexible repayment conditions. SLF officers reported the highest level of agreement (𝑥̅ = 4.47), highlighting rapid loan allocation efficient monitoring and payroll deduction mechanisms. Regarding expectations, students showed a high overall level (𝑥̅ = 4.36) particularly expecting loan schemes without guarantors support for short-term skill-development programs and principal-reduction measures. Officers similarly expressed high expectations (𝑥̅ = 4.40) focusing on the abolition of guarantors debt restructuring and repayment based on borrowers’ capacity. In conclusion, the study suggests that although the SLF remains essential for expanding educational opportunities its management processes require modernization, transparency and flexibility to better reflect the intent of the new legislation and the needs of stakeholders in Thailand’s higher education system.

Forecasting the Criteria for Inclusion in the SET100 Securities Group After Adjusting the Stock Market Index Calculation Base

Karnkaow Ponken — 2026-04-29

This study aims to analyze the factors influencing the inclusion of companies awaiting entry into the SET100 Index and to forecast the selection criteria following the recalibration of the Stock Exchange of Thailand (SET) index methodology. The analysis is based on data from 25 securities of companies pending SET100 inclusion during the period 2019–2022. Panel data analysis was employed using variables such as registered capital, stock price, financial ratios, and macroeconomic and industry-related factors. Two dummy variables were used to represent economic conditions and total assets. The results indicate that five variables are significantly associated with the likelihood of a company being considered for inclusion in the SET100 Index: stock price, return on equity (ROE), return on assets (ROA), gross domestic product (GDP), and total assets. The analysis, conducted using the Fixed Effects Regression Model (FEM), reveals that registered capital, ROE, ROA, and total assets exhibit a statistically significant positive relationship with stock prices at the 0.01 level. These findings may be beneficial for the Stock Exchange of Thailand and other stakeholders involved in the selection process, providing empirical evidence to support the refinement or further development of the SET100 inclusion criteria.

The Analysis of Government E-marketplace Adoption in Thailand: A Seller's Perspective utilizing Causal Relationship Model

Chompunoot Duangjan — 2026-04-29

This research investigates factors influencing the adoption of Thailand's government e-marketplace from sellers' perspectives. The study develops an integrated theoretical framework by combining the Technology-Organization-Environment (TOE) framework with the Technology Acceptance Model (TAM) and trust concepts. Data was collected through questionnaires from 203 micro, small, and medium enterprises selling OTOP (One Tambon One Product) products via the government e-marketplace platform. Partial Least Squares Structural Equation Modeling (PLS-SEM) was employed for data analysis. Findings reveal that perceived usefulness positively influences trust, attitude, and adoption of the government e-marketplace, while website reputation directly affects adoption. Furthermore, trust positively influences attitudes toward usage, and attitudes subsequently drive adoption behavior. These findings contribute to both theory and practice by informing strategic initiatives to enhance e-marketplace adoption through effective communication of system benefits, implementation of robust security measures to establish trust, maintenance of service quality standards to strengthen platform reputation, and development of targeted programs showcasing success stories and providing appropriate training to foster positive user attitudes.

Confirmatory Factor Analysis of Soft Skills Development of Undergraduate Students toward Small Business Entrepreneurship in Thailand

Aniwat Kaewjomnong — 2026-04-29

The objectives of this study were to examine the level of soft skills development among undergraduate students in the lower southern region of Thailand and to analyze the confirmatory factors of such skills in supporting small business entrepreneurship in the country. This quantitative research employed a sample of 400 personnel working in universities within the lower southern region of Thailand, selected through simple random sampling. The research instrument was a questionnaire with an overall reliability coefficient of 0.95. Data were analyzed using statistical software, employing mean and standard deviation, while confirmatory factor analysis (CFA) was conducted to assess the model fit with empirical data through structural equation modeling (SEM). The findings revealed that the overall soft skills development of undergraduate students was at the highest level. Leadership skills ranked first, followed by critical thinking, teamwork, and questioning and listening skills, respectively. The findings revealed that the measurement model for soft skills development among undergraduate students demonstrated a high level of goodness-of-fit with the empirical data. The model fit indices met the established criteria: x² = 5.73, df = 3, p = .125, GFI = .99, AGFI = .97 and RMR = .0018, demonstrate that the developed soft skills development model is consistent with the empirical data and effectively explains small business entrepreneurship in Thailand. These findings provide significant contributions by establishing a new benchmark for assessing personal and social skills in higher education. Furthermore, the model serves as a strategic tool for university administrators to systematically enhance student competencies in response to contemporary societal demands.

The Study of Association Between General Information of Accountants and Cooperatives with Problems and Obstacles in Accounting of Agricultural Cooperatives in Songkhla Province

Wasan Kanchanamukda — 2026-04-29

This study aimed to examine the problems and obstacles in accounting preparation and the association between general information of accountants and cooperatives with the level of accounting problems and obstacles in agricultural cooperatives in Songkhla Province. A census survey was conducted, collecting data from one accountant per cooperative across all 79 registered agricultural cooperatives, yielding 79 respondents at a 100% response rate. The study employed descriptive and inferential statistics, including frequency, percentage, mean, standard deviation, Fisher's Exact Test, and Freeman-Halton Extension. The study revealed that age, training experience, and educational level were statistically significantly associated with accounting problems and obstacles across multiple dimensions at the .05 significance level, particularly in personnel, documentation, and information technology. The number of cooperative members was significantly associated with several problem dimensions, most notably personnel, cooperation, and information technology. It is recommended that regulatory bodies such as the Cooperative Promotion Department implement targeted technology training programs and encourage long-established cooperatives to modernize operational procedures to reduce organizational inertia, improve efficiency, and strengthen the reliability of financial data.

Marketing Mix Factors Influencing Consumers’ Online Purchasing Decisions in Mueang District, Narathiwat Province

Sumalee Grodgangunt — 2026-04-29

This research aimed to 1) study the marketing mix factors influencing online purchasing decisions of consumers in Mueang District, Narathiwat Province; 2) compare the online purchasing decisions of consumers in Mueang District, Narathiwat Province, classified by personal factors; and 3) study the marketing mix factors that affect the online purchasing decisions of consumers in Mueang District, Narathiwat Province. Quantitative research methodology was used. Due to the uncertainty of the population size, Cochran’s method was employed to calculate a representative sample size and reduce potential errors. Consequently, a sample of 400 online consumers in Narathiwat Province was recruited using a convenience sampling technique. Data collected via questionnaires were analyzed using descriptive statistics including frequency, percentage, mean, S.D., T-test, F-test, and stepwise multiple regression. The results disclosed that 1) the overall marketing mix factors influencing online purchasing decisions of consumers in Mueang District, Narathiwat Province, were at a high level; 2) a comparative analysis revealed that differences in gender, age, education level, and monthly income did not lead to significant differences in online purchasing decisions among consumers in Mueang District, Narathiwat Province; and 3)marketing mix factors had a positive effect on the online purchasing decisions of consumers in Mueang District, Narathiwat Province, at a statistical significance level of .05. The influence was ranked as follows: Product (X₁ = .88), Place (X₃) = .86, Price (X₂) = .84, and Promotion (X₄) = .82. Collectively, these factors accounted for 68.62% of the predictive power. The research findings provide a strategic guideline for online entrepreneurs, suggesting that priority should be given to product development. Enhancing product quality, credibility, detailed descriptions, and brand image is essential to increasing the likelihood of consumer online purchasing decisions.

The Impact of Owership Concentration on Audit Fees of Companies Listed on The Stock Exchange of Thailand

Sirinrut Sawangphaisankun — 2026-04-29

This study aims to examine the effect of shareholder concentration on audit fees of firms listed on the Stock Exchange of Thailand during the period 2020–2022.
The research is grounded in agency theory and corporate governance frameworks.
The sample consists of 1,467 firm-year observations, with data obtained from consolidated financial statements and annual registration statements (Form 56-1) retrieved from the SET SMART database. The data were analyzed using descriptive statistics, correlation analysis, and multiple regression analysis.

The results indicate that shareholder concentration is significantly and negatively associated with audit fees. Firms with a higher degree of ownership concentration
tend to pay lower audit fees, as large shareholders play an important monitoring role that leads auditors to assess lower audit risk and reduce audit scope. In addition,
firm size, firm complexity, risk level, and CEO duality (the chairman of the board simultaneously serving as the chief executive officer) are found to have a statistically significant effect on audit fees. The findings provide useful implications for auditors in assessing audit risk and determining appropriate audit fees.

The Impact of Aging Workforce on Labor Productivity in ASEAN Countries

Wichayapha Sermsuk — 2026-04-29

This research aims to study the impact of aging workforce on labor productivity in 10 ASEAN countries. The factors considered in the analysis included the aging workforce, unemployment rate, real GDP per capita, investment in technology, Old-aged dependency ratio, workers with higher education, and government efficiency index. The data were panel data collected from 2014 to 2022, a total of 9 years, the study used the Generalized Method of Moments (GMM) estimation for the analysis. The findings of the study revealed aging workforce, the unemployment rate, and the interaction variable between high-income countries and aging workforce, had a significant negative effect on labor productivity in ASEAN. Meanwhile, the Old-aged dependency ratio had a positive effect on labor productivity. This study provided valuable insights for policymakers in planning and implementing strategies to enhance labor productivity in the region.

Future Vision, Digital Divide and the Urgent Need for Digital Universities: Higher Education Quality Challenges in Thailand

Chaiyakrit Nguarungsee — 2026-04-29

This research aims to study the future scenario, the digital gap, and the urgent need to develop into a digital university. This research uses an exploratory sequential design, which is a mixed methods research. The first step starts with a qualitative research using the future ethnographic research method to project the future of the digital university in the next 10 years and develops research tools. Data were collected from 6 experts who play important roles in becoming a digital university. The second step uses a quantitative survey research to analyze the digital gap and urgent need from 200 university personnel. The research results found that the university is comprised of 3 dimensions: 1) Digital dimensions for teaching and learning management, 2) Digital infrastructure, and 3) Digital competencies of personnel in the organization. It was developed into a 21-item digital university questionnaire with a 5-level rating scale for answering two dimensions: the current state and the future expectation. The research results in the second phase found that Humanoid and Cobot, digital ecosystems, Internet of things, blockchain platform, and Artistic Intelligence are issues with gaps. and there is an urgent need at the forefront of developing into a digital university. The development is driven by strategic planning, policy setting, and budget allocation for digital infrastructure, aligned with the categorization of university groups.

The Influence of Psychological Factors, Trust in Seller, and Risk Acceptance on the Purchase Decision of Art Toys Blind Boxes among Consumers in Songkhla Province

Yanaphat Kamwiset — 2026-04-29

Art toys blind boxes have gained popularity due to the excitement of randomness, the trend of collecting, and their psychological value for consumers. However, purchase decisions are still determined by motivation, perception, learning, and attitude, as well as trust in sellers through store image and service quality, together with consumers’ acceptance of risk in terms of satisfaction and scarcity. This study aimed to examine the influence of psychological factors, trust in seller, and risk acceptance on the purchase decision of art toys blind boxes among consumers in Songkhla Province. This research employed a quantitative approach using questionnaires to collect data from 385 consumers by non-probability sampling with prior experience in purchasing art toys blind boxes in Songkhla. The research instrument was validated for content validity and demonstrated a high level of reliability. Data were analyzed using descriptive statistics and multiple regression analysis. The findings revealed that there are three factors that influence consumers' decision to purchase art toys blind boxes in Songkhla Province, ranked from highest to lowest: attitude, the seller’s/store image, and product rarity. It can explain 46.6 percent of the variance in the decision to purchase art toys blind boxes. These findings highlight the psychological factors, trust in seller, and risk acceptance of consumers’ decisions, which lead to practical recommendations for marketers and policy makers as follows: 1) entrepreneurs should design products and marketing campaigns that focus on creating experiences rather than just selling products; 2) create a market sandbox for art toys blind boxes; and 3) open up areas for collaboration between students and communities, such as the Art Toys design project based on local culture, which adapts ancient patterns, animals, or local fruits into art toys blind box products.

The Impact of Brand Image, Brand Credibility, and Brand Commitment on the Purchasing Decisions of Potential Franchisees

Arunee Lertkornkitja — 2026-04-29

This study aimed to investigate the impact of brand image, brand credibility, and brand commitment on potential franchisees' franchise purchasing decisions. A total of 307 samples were gathered using the convenience sampling method from the visitors to the International Franchise Business Expo. Data were analyzed using percentage, mean, standard deviation, Pearson correlation, and multiple regression. The findings showed that brand commitment has a direct impact on potential franchisees' purchasing decisions. Brand image and brand credibility had a positive impact on brand commitment but had no effect on purchasing decisions. The study provides a complementary perspective of relationship marketing and signaling theory in franchising. Franchisors may employ these insights to enhance the effectiveness of their brand management to achieve sustainable business success.

Dynamic Capabilities and Firm Efficiency: A Study of Agro-Processing SMEs in Thailand

Suttida Chaisri — 2026-04-29

Dynamic Capabilities play an important role for organizations in the era of rapidly changing business environments, especially in the context of SMEs and industries facing high uncertainty such as agro-processing businesses in Thailand. Therefore, this study aims to explore the role of dynamic capabilities in terms of sensing, searching, seizing, shifting, and shaping in enhancing the performance of SMEs in the agro-processing sector in Thailand. The quantitative research approach was conducted by conducting an online survey with 645 SMEs in the agro-processing industry throughout Thailand, selected by stratified random sampling by the Department of Industry in Thailand. 250 correct answers were received within 90 days. The data were then analyzed using structural equation modeling (SEM) to analyze the path analysis to examine the relationship between dynamic capabilities and performance. The results of the study revealed that dynamic capabilities have both direct and indirect positive effects on performance through technological innovation (p = 0.930, t = -3.064) with a significance level of 0.01, which is a high level of impact, which is in line with the coping of agro-processing businesses in Thailand who are not ready to adapt due to many constraints. SMEs should focus on developing dynamic capabilities and adopting innovative practices to improve their company performance and market positioning for survival amidst intense competition. And most importantly, the government should promote the development of knowledge to keep up with rapidly changing situations and accelerate awareness of the importance of seizing opportunities to adapt them into strong corporate strategies, as well as support accessible sources of funding for sustainable future expansion.