RMUTT Global Business and Economics Review

PRACTICE IN ACCOUNTING FOR TFRS 15: REVENUE FROM CONTRACTS WITH CUSTOMERS

Tue, 19 Nov 2024 00:00:00 +0700

The purpose of this study is to introduce Financial Reporting Standard No. 15, Revenue from Contracts with Customers. Addressing the crucial principles in revenue recognition, the study employs the Five-Step Model to ascertain revenue recognition for various types of income across different business sectors. Comprising five distinct steps, this model facilitates businesses in evaluating contracts and determining the timing and amount of revenue recognition from contracts with customers with comprehensive examples to aid in understanding.

Book Review: Design Thinking and Innovation Matrics

Piyaporn Chucheep — Fri, 22 Nov 2024 00:00:00 +0700

หนังสือการคิดเชิงการออกแบบและตัวชี้วัดด้านนวัตกรรมเป็นหนังสือที่ให้ความชัดเจนในเครื่องมือที่ใช้ในการสร้างนวัตกรรมดั่งเช่น การคิดในเชิงการออกแบบ (Design Thinking) นอกจากหนังสือเล่มนี้จะอ่านง่ายแล้ว ยังทำให้เราเห็นเทคนิคในการสร้างนวัตกรรมในมิติที่หลากหลาย และยังเข้าถึงความเป็น การคิดในเชิงการออกแบบอย่างแท้จริง โดยหนังสือประกอบด้วย 7 ส่วนดังนี้ ส่วนที่ 1 คือ ทำไม อย่างไร และ อะไร (Why? How? What?) ส่วนที่ 2 คือ การคิดในเชิงการออกแบบเบื้องต้น ( Design Thinking 101) ส่วนที่ 3 คือ การวัดผลการคิดในเชิงการออกแบบเบื้องต้น (Measuring 101) ส่วนที่ 4 คือ การวัดผลการปฏิบัติงานด้านการคิดในเชิงการออกแบบ (Performance Measurements 201) ส่วนที่ 5 คือ นวัตกรรมที่ขับเคลื่อนด้วยข้อมูล (Data-Driven Innovation 301) ส่วนที่ 6 คือ อนาคตของการคิดในเชิงการออกแบบ และนวัตกรรมที่ขับเคลื่อนด้วยข้อมูล (The Future of Design Thinking and Data-Driven Innovation) ส่วนที่ 7 คือ บทสรุป (A Final Word)

THE INFLUENCE OF ENTREPRENEURIAL INTENTION AND ENTREPRENEURIAL CAPABILITY ON ENTREPRENEURIAL PERFORMANCE

Feng Liu, Putthiwat Singhdong — Mon, 04 Nov 2024 00:00:00 +0700

The purpose of this study is to investigate the effects of entrepreneurial intention and entrepreneurial capability on entrepreneurial performance among university students, as well as the moderating role of environmental dynamics. To achieve this goal, a quantitative approach was adopted, focusing on university students engaged in entrepreneurial activities. Data were collected through survey questionnaires, resulting in 424 valid responses, which were analyzed using confirmatory factor analysis. The findings indicate that entrepreneurial intention positively influences entrepreneurial performance, and entrepreneurial capability also significantly enhances entrepreneurial performance. Moreover, environmental dynamics positively moderate the relationships between entrepreneurial intention and entrepreneurial performance, as well as between entrepreneurial capability and entrepreneurial performance.

CAUSAL FACTORS IN RFID TECHNOLOGY UTILIZATION INFLUENCING BUSINESS SUPPLY CHAIN MANAGEMENT EFFICIENCY THROUGH LOGISTICS MANAGEMENT PROCESS A CASE STUDY OF FROZEN FOOD INDUSTRY IN THAILAND

Jakraphun Srisawat — Tue, 12 Nov 2024 00:00:00 +0700

The objective of this research was to study the impact on supply chain efficiency. RFID technology utilization was an independent variable. Logistics management was an intermediary variable, while supply chain management efficiency was the dependent variable. Samples consisted of 315 medium- and large-sized IT executives or professionals in the frozen food industry selected by objective stratified sampling. Data were analyzed using structural equation modeling (SEM), which applied model structure in hypothetical models testing. Results indicated that the model was proportional where all the regression assumptions were accepted with p value < 0.05. The results of the consistency and harmony checked were consistent with the empirical data and the subcomponents of the structural model, with the value /df. = 2.516, GFI = 0.942, AGFI = 0.899, RMR = 0.60, RMSEA = 0.69, NFI = 0.975, CFI = 0.984 (p-value < 0.01). It was found that RFID technology utilization had no direct impact on the efficiency of supply chain however, indirect effects were also shown in logistics management. It was stated that RFID technology should be utilized in the organizations with proper logistics management.

FORECAST THE USE OF TRAVEL WEBSITES USING THE THEORY OF PLANNED BEHAVIOR

kritiya Rangsom, Wasun Khan-Am — Tue, 12 Nov 2024 00:00:00 +0700

Given the digital era's use of artificial intelligence (AI) in any field, the goal of this article is to investigate the use of the Theory of Planned Behavior (TPB) for forecasting travel websites utilizing AI applications. A total of 120 respondents who used both websites and chatbots were polled. The survey questionnaire elements were adapted from TPB and AI-enabled travel websites. Purposive random sampling was used to randomly assign the sample. Multiple regression analysis, correlation analysis, and descriptive statistics were utilized to investigate the acquired data. The results show that there are correlations among the variables that are included in the model framework. This study used TPB, as demonstrated by the regression equation: Y=0.07+0.46A+0.36S+0.16CB, with a strong R² of 0.66. These findings demonstrate how well TPB understands and predicts user behavior in the context of AI-driven travel website usage.

THE INFLUENCE OF THE ELDERLY CAREGIVERS’ COMPETENCIES AND STRATEGIES FOR CREATING COMPETITIVE ADVANTAGE ON PERFORMANCES OF THE ELDERLY CARE BUSINESSES IN BANGKOK

Samran Sonpuing, Wasuthida Nuritamon — Tue, 12 Nov 2024 00:00:00 +0700

The aim of this research was to study the influence of competencies of the elderly caregivers and strategies for creating competitive advantage on performances of the elderly care businesses in Bangkok. The samples are 288 executives of the elderly care businesses in Bangkok, Thailand. Data was collected through questionnaires administered to the sample. The descriptive statistics – frequency, percentage, means, and standard deviation are employed for data analysis and simple regression was employed to test the research hypothesis. The findings indicated that 1) competencies which comprised of knowledge, skills, and attitude of the elderly caregivers have not influence on performances of the elderly care businesses in Bangkok, 2) strategies for creating competitive advantage which comprised of cost leadership, differentiation, and focus have influence on performances of the elderly care businesses in Bangkok. Recommendations for further study include investigating other factors that influence the performance of elderly care businesses and expanding the scope of the study to include other regions of Thailand.

UNDERSTANDING ECONOMIC COMPLEXITY AND CONSEQUENCE ON GROWTH OF THAILAND

Ronnakron Kitipacharadechatron — Wed, 13 Nov 2024 00:00:00 +0700

This study aims to investigate the transformation of Thailand's economic structure and the influence of economic complexity on economic growth. The study utilizes input-output tables from 2007 and 2022 to examine structural changes and employs network analysis to compare the shifts in sectoral weights within the economy. Furthermore, the study employs regression analysis to assess the impact of economic complexity on economic growth using economic structure weights from 2007 to 2022 as an indicator of economic complexity.

The results found that 1) The Thai economy has experienced a significant increase in complexity and interconnectedness over the past 15 years, with a statistically significant rise of approximately 20%. The fundamental industries driving manufacturing activities remain the basic metal and machinery subsector and the machinery and equipment rental subsector. However, other sectors, particularly those related to the service sector, such as finance, hotels, retail, and postal services, have shown a growing tendency to connect with other economic activities, while linkages in manufacturing-related sectors have exhibited a declining trend. 2) Economic complexity exerts a statistically significant positive influence on economic growth, amounting to approximately 2.1%

THE MEDIATION EFFECTS OF FDI ON TRANSPORTATION INFRASTRUCTURE AND ECONOMIC GROWTH IN LAO PEOPLE’S DEMOCRATIC REPUBLIC

Wed, 13 Nov 2024 00:00:00 +0700

This paper aims to study the mediation effects of Foreign direct investment (FDI) on the relationship between transportation infrastructure and economic growth in Lao people’s Democratic Republic (Lao PDR) by using Sobel test. This study is quantitative research using panel data from 2013 to 2022. The regression results conclude that there is a positive relationship between transportation infrastructure and FDI by p-value=0.01. In addition, there is a positive relationship between FDI and Economic growth by significance at 0.05. Result demonstrates that there is direct effect and indirect effect between transportation infrastructure and Economic growth and Sobel test found that FDI was a partial mediator of the relationship between transportation infrastructure and Economic growth as well. In summary, transportation infrastructure enhances the attractiveness and efficiency of a region, drawing in FDI. The resultant FDI brings in capital, technology, and expertise, stimulating economic activities and contributing to overall economic growth. This mediating role of FDI underscores the interconnectedness of transportation infrastructure development, investment attraction, and economic growth.

THE INFLUENCE OF ADAPTIVE CAPABILITY AND ORGANIZATIONAL CREATIVITY TO PRODUCT INNOVATION OF SMALL AND MEDIUM ENTERPRISES

Supakanya Juntarukka, Bussakorn Khumhome — Wed, 13 Nov 2024 00:00:00 +0700

The objective of this research was to examine the influence of adaptive capability and organizational creativity to product innovation. This quantitative research used the questionnaire to collect data from a sample of 256 SMEs in food and beverage manufacturing sector. The statistics used in the data analysis include descriptive analysis and structural equation model analysis (SEM). The results found that adaptive capability has a direct effect on organizational creativity, with a coefficient of 0.786 (p-value < 0.001). Adaptive capability has direct effect and indirect effect on product innovation, with a coefficient of 0.377 and 0.216 (p-value < 0.001). Organizational creativity has a direct effect on product innovation, with a coefficient of 0.275 (p-value < 0.05). The developed model was consistent with the empirical data, with values /d.f. = 2.471, GFI = 0.833, IFI = 0.915, TLI = 0.900, CFI = 0.914, RMSEA = 0.076. The results of this research provided guidelines for SMEs in formulating strategic plans and creating an enabling environment for enhancing adaptability and innovative creativity.

JOB CHARACTERISTICS AND WORK EXPERIENCE FACTORS AFFECTING ORGANIZATIONAL COMMITMENT THROUGH QUALITY OF WORK LIFE OF THE NON-COMMISSIONED OFFICERS IN THE ROYAL THAI SURVEY DEPARTMENT

Artit Kaewmungkun, Kritsada Muhammad — Wed, 13 Nov 2024 00:00:00 +0700

This research aims to study the Job Characteristics and Work Experience Factors Affecting Organizational Commitment Through Quality of Work Life of The Non-Commissioned Officers in The Royal Thai Survey Department. The population was 436 employees The Non-Commissioned Officers in The Royal Thai Survey Department. The samples were 205 employees, the number of which was obtained through Multistage sampling was used to directly expose 16 segments. Data were analyzed using descriptive statistics including frequency, percentage, mean and standard deviation and interferential statistics including the structural equation modeling (SEM).

The result showed that the SEM model was consistent with the empirical data with a Chi-square = 202.376, Normed Chi-square = 1.985, RMR = 0.008, RMSEA = 0.049, GFI = 0.952, AGFI = 0.910, NFI = 0.968, and CFI = 0.984, respectively. Work experience factors and work characteristics factors had positive and direct influence on non-commissioned officers’ organizational commitment with attitudes of 0.35 and 0.08, respectively and a p-value of 0.001. Work experience factors and work characteristics factors have an indirect influence through the quality of work life affecting organizational commitment with attitudes of 0.44 and -0.07, respectively and a coefficient of determination of 0.70.

THE INFLUENCE OF EMOTIONAL INTELLIGENCE, CULTURAL DIVERSITY IN ORGANIZATION, AND COMMUNICATION STRATEGIES ON LEADERSHIP EFFECTIVENESS IN DIVERSE WORKPLACES IN FUZHOU CITY, FUJIAN PROVINCE, CHINA

Yaosheng Chen, Surachai Traiwannakij — Wed, 13 Nov 2024 00:00:00 +0700

In today’s rapidly evolving business landscape, characterized by heightened complexity and relentless change, the demand for adept management is more pronounced than ever. As organizations grapple with the challenges presented by an increasingly interconnected and technologically advanced world, the need to adapt and evolve management practices becomes a paramount concern (Drejer et al., 2014; BAGU et al., 2011). The aims of this study were to investigate the factors influencing Leadership Effectiveness based on 4 aspects, namely, the Demographic Factors, the Emotional Intelligence, the Cultural Diversity in Organization, and the Communication Strategies. The quantitative method was applied. Descriptive statistics such as frequency, percent frequency, mean, and standard deviation are introduced. Various inferential statistical methods are used to test the hypothesis, particularly the Independent samples t-test, the One-way ANOVA, and the Multiple linear regression analysis. The results obtained from the study indicate that differences in Marital Status, Age, Educational Level, and Monthly Income generate differences in Leadership Effectiveness. Based on the Multiple Linear Regression analysis, all aspects of Emotional Intelligence (Self-awareness, Self-regulation, Motivation, Empathy, and Social Skills), Cultural Diversity in Organization (Diversity, Equity, Inclusion, and Belonging) and Communication Strategies (Awareness and Understanding, Communication Quality, Accessibility, and Employee Engagement) had a positive impact on Leadership Effectiveness.

EXPLORING KEY DRIVERS OF FRONTLINE SERVICE ROBOT ACCEPTANCE IN THAI RETAIL SERVICE CONTEXT: A QUALITATIVE STUDY

Adisorn Chaysang, Chirawan Chaisuwan, Narumon Kimpakorn — Wed, 13 Nov 2024 00:00:00 +0700

This qualitative study explores the factors associated to the acceptance of frontline service robots (FSRs) in the context of retail services in Thailand. In-depth interviews were conducted with a sample of 30 participants who had direct experience with FSRs. The data was analyzed using thematic analysis. The findings revealed five key elements associated with the acceptance of FSRs: individual heterogeneity factors, functional elements, social-emotional elements, psychological comfort elements, and value elements.

The research findings revealed five key elements associated with the acceptance of FSR: 1) Individual heterogeneity factors, which refers to the perception of an individual's technological capability; 2) Functional elements, which includes the efficiency of service delivery and command reception of the FSR; 3) Social-emotional elements, which involves the facial expressions and tone of voice of the FSR; 4) Psychological comfort elements, which positive feelings of mental ease and reliability; and 5) Value elements, which pertains to the perceived value in the service delivery provided by the FSR. The study indicated that individuals who chose to interact with FSRs exhibited high self-efficacy, low technology anxiety, and a high level of customer innovativeness. Additionally, it was found that functional attributes, such as providing quick and accurate services, along with social and emotional aspects, including facial expressions and polite manners, were related to perceived utilitarian value, hedonic value, and psychological comfort, all of which associated the acceptance of FSRs.

FACTORS INFLUENCING CHINESE TOURISTS’ PURCHASE DECISION ON THAI AMULETS IN THAILAND

Guiyu Su, Daranee Pimchangthong, Pharatt Run — Tue, 19 Nov 2024 00:00:00 +0700

With the continuous development of tourism and the pursuit of spiritual blessings, Thai amulets have become a unique cultural product that attracts Chinese tourists. However, to date, there has been a lack of in-depth research on the decision-making factors of PRC tourists purchasing amulets in Thailand and the association between these factors. This study aimed to 1) conduct a comprehensive investigation to explore how Chinese tourists' characteristics affect their choices to buy Thai amulets in Thailand, and 2) explore how product characteristics of Thai amulets influence Chinese tourists' decisions to purchase Thai amulets in Thailand. Data was collected through a questionnaire administered to a sample of 400 Chinese tourists who visited Thailand and purchased Thai amulets. The statistics used to analyze the data were descriptive statistics, including frequencies, means, and standard deviations, and inferential statistics, including the independent sample t-test, one-way ANOVA, LSD, and multiple linear regression. The results found that differences in terms of gender, monthly income level, and religious affiliation affect purchase decisions differently. Product characteristics, including price, reputation, and advertising, have influenced the purchasing decisions of Chinese tourists in Thailand. This study provides strong support for understanding and promoting the purchasing decision-making process of Chinese tourists towards Thai amulets. The marketing strategies and recommendations to develop a more attractive program for Chinese tourists in Thailand are provided in detail.

THE MANAGEMENT GUIDELINE FOR INCREASING THE OLD AGE BENEFITS TO THE INSURED PERSONS IN THE SOCIAL SECURITY FUND IN THAILAND

Nuntachai Punyasurarit, Wanwihpa Tailangka, Anan Thamchalai — Tue, 19 Nov 2024 00:00:00 +0700

This research aims to study the conditions and challenges in the operations of the Social Security Fund in Thailand and to propose management guidelines for increasing old-age benefits for insured persons under the Social Security Fund. These guidelines should align with the cost of living and the essential needs of the insured persons. Additionally, the research presents recommendations for the Social Security Office regarding the maximum savings ceiling. This qualitative research employs the Delphi technique for data analysis, with 25 key informants involved in social security selected specifically for this study.

The research findings indicate that: 1) The Social Security Fund should enhance old-age benefits for insured persons, with the primary reason being the variation in living costs depending on the residence of the insured persons. 2) The guidelines for increasing old-age benefits for insured persons should consider four key aspects: 2.1) Welfare should cover basic needs and contribute to improving the quality of life in a fair manner. 2.2) The state should be the provider of welfare. 2.3) The elderly should live with dignity and safety. 2.4) Allowances for the elderly should be increased equally across all age groups. Other benefits should not be increased at this time, as the current maximum contribution of 15,000 baht is considered low and was only recently increased following the 2022 Ministry of Labor regulations. 3) It is recommended that the maximum contribution ceiling be raised from 15,000 baht to 30,000 baht, incrementally, every 3 to 5 years. Furthermore, in the event of an increase in the maximum ceiling, companies should be given at least one year's notice to allow employers to budget accordingly. This research provides valuable insights for the government to formulate policies on elderly benefits and serves as crucial data for recalculating and adjusting the maximum contribution ceiling to reflect current needs.