Journal of Industrial Business Administration

Relationship between Capital Structure and Performance of Listed Companies on the Stock Exchange of Thailand: A Comparative Study of Consumer Products Industry and Agro & Food Industry

Sirinuch Nimtrakoon — 2026-06-01

This study aims to examine the relationship between capital structure and performance of companies listed on the Stock Exchange of Thailand in consumer products industry and the agro & food industry and compare those relationships between two industries. The data was collected from 113 companies during 2561-2565 B.E., resulting in 348 samples in total. The data analysis consisted of descriptive statistical analysis and inferential statistics analysis including correlation analysis and multiple regression analysis. The results found that return on assets (ROA), return on equity (ROE) and firm value (Tobin's Q) are negatively related to the capital structure measured by debt-to-asses (DA) and debt-to-equity (DE) ratio. A comparative study found that the relationship between ROA and DE as well as the relationship between ROE and capital structure measured by DA and DE of consumer products industry were significantly higher than those of agro & food industry. However, the relationships between Tobin's Q and DA and DE of two industries were not significantly different.

Green Sustainable Distribution Drop in Community System in Case of Nong Ha Tawan Tok Village, Mueang Lampang

Panjaporn Jantawong — 2026-06-01

This study aims to analyze the distribution system for community-based goods and to design a sustainable green distribution system in case of Nong Ha Tawan Tok Village, Mueang Lampang. A purposive sampling method was employed to select key stakeholders across supply chain. Data collection tools included in-depth interviews, participant and non-participant observation, focus group, SCOR Model and green logistics principles. The findings indicate that the distribution system should integrate green logistics communication to minimize environmental impact. This involves the strategic use of information and communication technologies to manage data and facilitate real-time communication. Inventory planning should be driven by customer demand data across time periods to reduce waste and better manage demand fluctuations. Moreover, the system should emphasize renewable energy, recycling, and systematic waste management, along with energy-efficient route planning and the use of environmentally friendly vehicles. Emphasis should also be placed on the distribution of local products and the development of regional logistics networks connecting local producers and retailers. Eco-friendly packaging should be prioritized throughout the product lifecycle from production to use. The green distribution system developed in this study can serve as a guideline to reduce transportation and inventory management costs, decrease emissions and packaging waste and create collaborative networks among producers, distributors, and consumers, thereby enabling the community to achieve more sustainable distribution system.

Improving Academic Achievement in Budgeting Through Digital Learning Using Spreadsheet Programs for Students of the Faculty of Business Administration and Liberal Arts, Rajamangala University of Technology Lanna Tak

Yuparat Chunkeaw — 2026-06-01

This research aims to study the academic achievement in budgeting through digital learning using spreadsheet programs for students of the Faculty of Business Administration and Liberal Arts, Rajamangala University of Technology Lanna Tak, and to examine their satisfaction with digital learning using spreadsheet programs. The research instruments included tests and questionnaires. The sample of 60 participants were selected using purposive sampling and the statistical analyses included percentages, means, standard deviations, and content analysis. The study found that: 1) post-test scores in budgeting through digital learning using spreadsheet software were significantly higher than pre-test scores at the 0.05 statistical significance level for students in the Faculty of Business Administration and Liberal Arts, Rajamangala University of Technology Lanna Tak and 2) The satisfaction assessment had a content validity index between 0.68-0.84, and students were most satisfied with the overall digital learning using spreadsheet software (=4.66, S.D.=0.12). Considering each aspect in detail of the highest satisfaction, part 1 about the process and steps of the budgeting system found that students were most satisfied with the system's ability to facilitate, speed up and organize the budgeting process (x ̅= 4.79, S.D.=0.41). Part 2 about The presentation of content through the budgeting system found that students were most satisfied with the system's ability to explain the budgeting process in detail and in an easy-to-understand manner (x ̅=4.79, S.D.=0.63). Part 3 about the efficiency of the budgeting system found that the students were most satisfied with the system's ability to support multiple users simultaneously (x ̅=4.79, S.D.= 0.41), respectively.

This research is expected to be beneficial in supporting the adoption of technology in higher education teaching to align with the changes in the digital age and help students gain a practical understanding, enabling them to apply budgeting knowledge in real-world situations. It will help improve students' academic achievement in budgeting through digital learning and serve as a guideline for developing digital teaching models for instructors in related courses.

Factors affecting decision marking on pursuing students a bachelor’s degree of freshmen in King Mongkut’s University of Technology North Bangkok, Prachinburi Campus

Sasikan Srikhumkao — 2026-06-01

This survey research aimed to study the factors influencing the decision to enroll and compare the differences among first-year undergraduate students at King Mongkut's University of Technology North Bangkok, Prachinburi Campus. The factors studied were university image, location and facilities, public relations, personnel, and curriculum and teaching management. The sample for this research included first-year. The sample size was 270, using the stratified random sampling method. The research instrument was a questionnaire that was validated for content validity by experts using the Index of Item-Objective Congruence (IOC), yielding a score of 0.60–1.00. The reliability of the questionnaire was tested, and the Cronbach's alpha reliability coefficient was 0.94. Descriptive and inferential statistics were used for data analysis. The most influential factor was university image followed by personnel, curriculum and teaching management, location and facilities, and public relations, respectively.

The comparison of differences in factors based on general information found a statistically significant difference at the 0.05 level. While there was no overall difference found for gender, a difference was present in one sub-factor. For both faculty and prior educational qualification, an overall difference was found, with differences in three and five sub-factors, respectively. Additionally, previous educational institution and hometown also showed an overall difference, with differences in four and two sub-factors, respectively.

การยินยอมคุกกี้: ความรำคาญที่รับรู้ ความเชื่อมั่นในแบรนด์ และความตั้งใจซื้อสินค้าออนไลน์

kunnika Jakor — 2026-06-01

This article investigates the effect of perceived annoyance from cookie consent messages on consumers' brand trust and purchase intention when purchasing goods or services online. This study was quantitative research that developed a questionnaire instrument from a literature review. Data was collected from 287 people who had purchased products or services online through online channels that displayed cookie consent and were analyzed using structural equation modeling (SEM). The results of the study found that perceived annoyance did not directly or indirectly influence brand trust and purchase intention. However, brand trust had a significant positive influence on purchase intentions, indicating that brand trust remains the most important factor driving online shopping behavior. Therefore, building and maintaining brand trust yields more pronounced results than simply focusing on reducing consumer annoyance. Entrepreneurs and marketers can use these findings to develop communication strategies that build trust and increase the chances of stimulating and maintaining repeat purchases among online consumers over the long term.

Developing Asia-Pacific (APAC) Sales Excellence Engineering Plastics Business for Internal Strategy

Jirayut Monjagapate — 2026-06-01

This paper examines sales excellence development in the APAC engineering plastics business, where it is necessary to fortify the internal strategy with regard to understanding customer, market study, marketing alignment, relationship management and identifying opportunity. A mixed-method research design was used where 30 professionals in various APAC markets were selected to participate in the research based on a structured 5 in-depth question survey and qualitative discussions. The results show that the sales in organizations have an excellent customer knowledge and relationship management skills, but its business processes are still disjointed and more experience oriented. Qualitative insights are an essential part of market analysis and market segmentation, and there is little use of analytical tools and analytical framework based on internal data. Moreover, the alignment in sales and marketing is not uniform, which means that it should be better connected between strategic and implementation goals and company values. Another area that was not developed fully was cross-regional collaboration and intelligence sharing which restricted proactive market sensitizing and opportunity appraisal. The results of the study suggest the use of standardized analysis tools, strengthening cross-functional coordination, and institutionalizing customer intelligence training, strategic planning, and training in digital market sensing. All in all, the study will contribute to the picture of how APAC-based engineering of plastics organizations can go beyond relationship-based to insight-based, sales systems of strategic alignment that will help to sustain growth and regional competitiveness.

The Influence of Transformational Leadership on Employee Motivation, Job Satisfaction, and Performance in a Japanese Plastics Manufacturing Plant in the Wellglow Industrial Estate

Teerayuth Mekprasart — 2026-06-01

This study aimed to (1) examine the levels of transformational leadership, work motivation, job satisfaction, and employee performance, and (2) investigate the mediating role of job satisfaction in linking transformational leadership and work motivation to employee performance. The sample consisted of 200 employees working at a Japanese plastic manufacturing company located in the Wellgrow Industrial Estate. Based on the conceptual framework of Hair et al. (2006), a quantitative research design was employed. Data were collected through a questionnaire, which demonstrated an Index of Item-Objective Congruence (IOC) ranging from 0.67 to 1.00 and a reliability coefficient of 0.897. Descriptive statistics—frequency, percentage, mean, and standard deviation—were used, while inferential statistics were analyzed using Structural Equation Modeling (SEM) via SmartPLS software.

The findings revealed that the overall influence of job satisfaction, which mediates the relationship between transformational leadership and work motivation on employee performance, was high across all dimensions. Transformational leadership had the highest mean score among the examined variables. Regarding direct effects, work motivation exerted the strongest influence on employee performance, followed by job satisfaction and transformational leadership, respectively.Moreover, transformational leadership exhibited an indirect effect on employee performance through work motivation and job satisfaction.

Marketing Mix Factors Influencing Farmers’ Decision to Select Small–Medium Middlemen in Durian Export from Chumphon Province

Monsikan Kueprajong — 2026-06-01

This study aimed (1) to examine the importance level of marketing mix factors (Marketing Mix: 7Ps) influencing farmers’ selection of small–medium middlemen for durian export in Chumphon Province, and (2) to analyze the influence of each marketing mix factor on farmers’ decision-making. A quantitative research design was employed, collecting data from 398 durian farmers registered with the Department of Agricultural Extension in 2023. The sampling method was stratified random sampling, and the research instrument was a questionnaire validated for reliability and accuracy. Descriptive statistics (mean and standard deviation) and inferential statistics using multiple linear regression analysis were applied.

The results revealed that five marketing mix factors significantly influenced farmers’ decisions to select middlemen at the 0.05 significance level, ranked by standardized coefficients (β) as follows: physical evidence (β = 0.40), promotion (β = 0.17), price (β = 0.16), product (β = 0.15), and people (β = -0.15). These five independent variables explained 33 % of the variance in decision-making (R² = 0.33) The findings highlight the importance of enhancing physical evidence, such as storage facilities, quality control, and transparency in trading operations, as well as developing effective promotional strategies to strengthen farmers’ trust and long-term relationships with small–medium middlemen. The results provide valuable insights for improving marketing strategies and sustainable collaboration within Thailand’s fruit export supply chain.

Logistics Factors Influencing Consumers’ Decisions to Use Express Delivery Services: A Case Study of Mueang District, Surat Thani Province

Chompunoot Duangjan — 2026-06-01

This study aimed to analyze the logistics factors influencing consumers’ decisions to use express delivery services in Mueang District, Surat Thani Province. Data were collected from 294 respondents using a purposive sampling technique and analyzed through descriptive statistics (mean and standard deviation) and stepwise multiple regression analysis.

The results revealed that consumers’ overall perceptions of logistics-related factors were rated at a high level. Four factors significantly influenced consumers’ decisions to use express delivery services at the 0.05 significance level: product safety (β = 0.31), cost (β = 0.23), technology systems (β = 0.20), and delivery time (β = 0.14). Together, these variables explained 40.9% of the variance in consumers’ decision-making.

The findings indicate that product safety is the most influential factor affecting consumers’ choice of express delivery service, followed by cost and technology utilization. Logistics service providers should prioritize strengthening product safety standards, investing in real-time parcel tracking technology, and optimizing cost structures to enhance consumer confidence, satisfaction, and loyalty.

Quality of Financial Report and Operational Effectiveness of Small and Medium Sized Hotel Enterprises in the Eastern Economic Corridor

Jirapan Choojan — 2026-06-02

The objectives of this research are to study the level and compare the quality of financial reports and operational effectiveness and to examine the relationship between quality of financial reports and operational effectiveness of small and medium-sized hotel enterprises (SMEs) in the Eastern Economic Corridor (EEC). Data was collected from financial statements during the years 2022, totally 667 sampled firms. Also, it was analyzed by the Modified Jones Model (1991) to measure the quality of financial information. The findings indicate that SME hotels in Chonburi province demonstrated the highest quality of financial report. Furthermore, firms with high-quality financial reports showed a tendency toward improved operational effectiveness. However, this relationship was not found to be statistically significant. Additionally, the study revealed that increasing discretionary accruals might be utilized as an earnings management tool to enhance perceived operational performance, potentially affecting the quality of financial information, the accuracy of users' decision-making, and the long-term competitive advantage of SME hotels.

FACTORS INFLUENCING THE DECISION TO PURSUE SPORTS SCIENCE AMONG HIGH SCHOOL STUDENTS

Kritsana Lakkhongkha — 2026-06-02

This research aimed to: 1) study factors influencing high school students' decision to pursue higher education in sports science; 2) analyze the relationships between personal factors, family factors, and environmental factors with their educational decision-making; and 3) assess the level of interest and motivation in studying sports science. The sample consisted of 400 high school students, selected through multi-stage sampling. The research instrument was a questionnaire with a reliability coefficient of 0.89. Statistical analyses included frequency, percentage, mean, standard deviation, correlation coefficient analysis, and multiple regression analysis.

The findings revealed that: 1) personal factors had the highest influence on decision-making, particularly in terms of personal interest in sports (M = 4.65) and career goals in sports (M = 4.60); 2) there were high positive correlations between personal factors and motivational factors (r = 0.685), as well as between personal factors and institutional image and reputation factors (r = 0.612); and 3) the sample group demonstrated a high overall motivation level (M = 4.32), with professional pride showing the highest mean (M = 4.42), followed by income opportunities (M = 4.38). Multiple regression analysis indicated that personal interest in sports, future career opportunities, and curriculum modernity collectively accounted for 68.5% of the variance in students' decision to pursue higher education in sports science.