Journal of Industrial Business Administration

The ranking of cryptocurrencies to make investment decisions for investors

Mon, 15 Dec 2025 00:00:00 +0700

This study aims to rank cryptocurrencies for investment decisions among three different types of investors: Conservative Investors, Moderate Investors, and Aggressive Investors, using the Multi-Criteria Decision Making (MCDM) model known as Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). The study selected the top 10 cryptocurrencies with the highest trading volumes through exchanges registered with the Securities and Exchange Commission (SEC), consisting of Tether, Bitcoin, Optimism, Ethereum, Terra Classic, Zilliqa, XRP, Dogecoin, GALA, and Cortex. The criteria used for ranking these cryptocurrencies include: 1) Return on Investment, 2) Sharpe Ratio, 3) Trading Volume, 4) Volatility, 5) Market Capitalization Share, and 6) Number of exchanges licensed by the SEC. The findings of the research indicate: 1) For Conservative Investors, the recommended order of investment is Bitcoin (BTC), followed by Optimism (OP) and Ethereum (ETH). 2) For Moderate Investors, the recommended order of investment is Ethereum (ETH), followed by Optimism (OP) and Cortex (CTXC). 3) For Aggressive Investors, the recommended order of investment is Bitcoin (BTC), followed by Tether (USDT) and Ethereum (ETH). 4) All types of investors should avoid investing in Tether Classic (LUNC), ranked as the 10th cryptocurrency.

Factors Influencing the Work Efficiency of Accountants in Accounting Firms in Nonthaburi Province

Somphow Meeboon, Sumalee Ramanust — Tue, 30 Dec 2025 00:00:00 +0700

This article aims to (1) study the level of job satisfaction, good citizenship behavior and work performance, and (2) study the mediating influence of good citizenship behavior as a mediating factor linking job satisfaction and work performance of accounting staff in accounting offices in Nonthaburi Province. This research is a quantitative research by collecting data using a questionnaire from 200 accounting staff in accounting offices in Nonthaburi Province under the concept of Hair et al., (2006) by using a simple random sampling method with an index of consistency (IOC) between 0.67-1.00 and a reliability of 0.913. The statistics used include descriptive statistics with frequency, percentage, mean, standard deviation and analyzed using Structural Equation Modeling (SEM) with SmartPLS. The purpose of this study was to examine the relationships among job satisfaction (JST), organizational citizenship behavior (OCB), and job efficiency (JEF), with a particular focus on the mediating role of OCB. The findings revealed that overall levels of job satisfaction, organizational citizenship behavior, and job efficiency were rated at a high level, with mean scores of 3.98, 3.71, and 3.86, and standard deviations of 0.794, 0.922, and 0.923, respectively. The results also indicated that OCB functioned as a mediating factor linking job satisfaction to job efficiency. Specifically, job satisfaction (JST) and organizational citizenship behavior (OCB) exerted direct positive effects on job efficiency (JEF), with path coefficients of 0.799 and 0.144, respectively. Furthermore, JST had an indirect influence on JEF through OCB, with an effect size of 0.119. Additionally, JST demonstrated a strong direct effect on OCB, with a path coefficient of 0.829. These findings highlight the significant role of OCB in enhancing the impact of job satisfaction on employees job efficiency.

A Study of the Characteristics of Graduates in Industrial Business Administration and Logistics: Perspectives of Establishments in Rayong Province

Tue, 30 Dec 2025 00:00:00 +0700

The purposes of this research were: (1) to study the characteristics of graduates in Industrial Business Administration and Logistics from the perspective of establishments in Rayong Province, and (2) to compare the characteristics of graduates in Industrial Business Administration and Logistics as perceived by establishments in Rayong Province. The population of the study consisted of 151 enterprises located in the Map Ta Phut Industrial Estate, Rayong Province, with a sample of 222 respondents. The research used a questionnaire. Data were analyzed using percentage, mean, standard deviation, t-test, and ANOVA. Statistical analyses were conducted with the SPSS program, with the level of statistical significance at .05. The study revealed that most respondents were female, aged between 26–30 years, employed at the operational level, earning a monthly income of 20,000–30,000 Baht, and having a work experience of five years or more. The primary factor considered by organizations in recruitment was actual work experience or internship participation. This study examines entrepreneurs’ perspectives on the prioritization of graduate attributes. Findings indicate that honesty and integrity are considered the most important qualities, followed by morality and ethics. The results reveal no statistically significant differences at the 0.05 level when respondents are classified by gender, age, or length of employment. However, significant differences are observed at the 0.05 level across job positions.

The Purchasing Behavior of Online Retailers from China in the Northeastern Region of Thailand

Pornpen Juraiyanon — Tue, 30 Dec 2025 00:00:00 +0700

This study aimed to 1) investigate the purchasing behavior of online retailers in the Northeastern region of Thailand toward products imported from China; 2) compare the personal factors of online retailers with their decision-making behavior regarding the purchase of Chinese products; and 3) examine their attitudes toward Chinese products in comparison with Thai products based on marketing mix factors. The study population consisted of online retailers in Northeastern Thailand. The sample size was calculated using a 95% confidence level, resulting in a minimum requirement of 385 participants. Purposive sampling was employed to select only those who regularly purchased products from China via online platforms, with an equal distribution across provinces averaging 20 participants per province, totaling 400 respondents. The research instrument was a questionnaire assessing the purchasing behavior of online retailers regarding Chinese products. Its content validity was reviewed by three experts, and the reliability of the entire questionnaire was confirmed with a Cronbach’s alpha coefficient of 0.862.
The findings revealed that 1) most online retailers had 2–3 years of experience in e-commerce and primarily used Taobao as their main purchasing platform, followed by Tmall and Shopee. The main sources of imported goods were China, South Korea, and Japan, with purchases occurring 2–3 times per month. Before making a purchase decision, retailers typically compared product quality based on customer reviews, ratings, and product demonstration videos. The most frequently imported products included furniture, household items, stationery, and lifestyle goods, with bulk orders exceeding 20 items per transaction and an average spending range of 4,001–5,000 THB per order. The key factors influencing purchasing decisions included supplier promotions, which served as the primary motivation, followed by confidence in product quality and a reliable and diverse payment system. Overall, online retailers expressed moderate satisfaction with purchasing products from China, with the highest satisfaction in pricing, followed by process efficiency, and product quality, which was rated at a moderate level. 2) The comparison of personal factors (gender, age, marital status, education level, occupation, average monthly income, and internet usage) indicated that these factors did not significantly influence purchasing behavior regarding Chinese products. 3) Regarding attitudes toward Chinese products compared to Thai products based on the 7Ps marketing framework, Chinese products were preferred due to their lower costs, competitive pricing, and product variety. However, concerns were raised regarding quality inconsistencies, particularly in high-standard products such as automotive parts, where durability remained a major concern. In terms of distribution channels, China demonstrated a more extensive global supply network and superior logistics and payment systems. For promotional strategies, both China and Thailand adopted similar online marketing approaches, but China’s campaigns were more attractive and engaging. However, Chinese product packaging often used lower-quality materials, leading to shipping damages and discrepancies between advertised and received products. In contrast, Thai products emphasized high-quality and sustainable packaging. In conclusion, online retailers had positive attitudes toward Chinese products in terms of pricing and distribution channels but remained concerned about product quality and reliability.

Factors affecting the selection of refrigerated container services of durian export middlemen in Chumphon Province

Tue, 30 Dec 2025 00:00:00 +0700

This research examines factors influencing the selection of refrigerated container service providers (7R) among durian middlemen exporters in Chumphon Province, Thailand. The study sample consisted of 199 durian trading houses in Chumphon Province, selected through stratified random sampling. Data were collected using a questionnaire specifically designed for field research. The statistical analysis employed descriptive statistics, including frequency, percentage, mean, and standard deviation, and inferential statistics using multiple regression analysis to examine the relationships between the studied factors and the selection of refrigerated container services. The findings revealed that the most influential factors in selecting refrigerated container service providers (7R) were right customer (B = 0.351), which had the highest impact, followed by right product (B = 0.284) and right quantity (B = 0.212). These three factors collectively explained 57.3% (R² = 0.573) of the variance in refrigerated container service selection among durian middlemen exporters in Chumphon Province, indicating significant relationships between these factors and service provider selection decisions.

The The influence of sustainability disclosure in the environmental dimension on the performance of listed companies on the Stock Exchange of Thailand.

Rasa Chueaimani, Somjai Boonmuenwai, Nualprang Chaepthaisong — Tue, 30 Dec 2025 00:00:00 +0700

This study examines the influence of sustainability disclosure in the environmental dimension on the performance of listed companies on the Stock Exchange of Thailand. Performance indicators used included environmental expenses, return on assets (ROA), return on equity (ROE), and enterprise value ratio (Tobin’s Q).The sample comprised 312 companies listed on the Stock Exchange of Thailand that disclosed environmental information and reported environmental expenses from 2021 to 2023, excluding financial companies and mutual funds. Data were collected from secondary sources, including annual reports, Form 56-1, sustainability reports, and the SETSmart database. The data were analyzed using descriptive statistics and inferential statistics through multiple regression analysis.

The findings indicated that the disclosure of environmental sustainability information has a significantly positive relationship with the return on equity (ROE) but a significantly negative relationship with the firm's value (Tobin's Q). This suggests that disclosing environmental sustainability information can create both positive and negative corporate images. A positive corporate image can enhance operational performance through stakeholder confidence and strengthen the organization’s competitiveness sustainably. However, high environmental expenses, expressed in monetary terms, such as electricity costs, fuel and oil expenses, and water usage costs, can negatively impact the corporate image. This may be due to the high environmental expenses reflecting substantial usage of natural resources. Therefore, organizations should operate with a strong awareness of their social responsibility to environmental conservation and prioritize the efficient use of natural resources. Proper water resource management, reduction of greenhouse gas emissions, and efficient energy use should be consistently emphasized to ensure sustainable development.

Development of a Causal Model of Organizational Commitment and Loyalty among Employees in Industrial Groups in the Stock Exchange of Thailand: An Equation Model Analysis Multilevel Structure.

Suttipong Kiartivich, I-Ching Tung, wipawee jitnok — Tue, 30 Dec 2025 00:00:00 +0700

This research aimed to (1) develop a causal model of organizational commitment and loyalty among employees in the industrial sector listed on the Stock Exchange of Thailand, (2) examine the model’s consistency with empirical data using Multilevel Structural Equation Modeling (MSEM), and (3) explore differences in levels of commitment and loyalty based on demographic factors. The sample consisted of 16 employees at operational and managerial levels selected through multistage sampling from various industrial companies. Data were collected from Bangkok, surrounding metropolitan areas, and selected industrial estates in Eastern Thailand. The findings revealed that the developed causal model was consistent with the empirical data, with model fit indices indicating a good fit (χ² = 120.35, p = 0.08; χ²/df = 1.85; CFI = 0.95; TLI = 0.93; RMSEA = 0.052; SRMR = 0.045). External factors—namely leadership, organizational justice, and job satisfaction—had a positive influence on organizational commitment, which in turn significantly affected organizational loyalty. The analysis also showed statistically significant differences in commitment and loyalty based on gender and age, while educational level did not show a significant difference. These findings provide useful insights for human resource management practices and support the application of the proposed model to enhance employee–organization relationships more effectively.

Factors Affecting the Stock Price of Listed Companies in the Stock Exchange of Thailand

orawan choengram, Somjai Boonmuenwai, Nualprang Chaepthaisong — Tue, 30 Dec 2025 00:00:00 +0700

The purpose of this study was to present the economic and accounting data on factors affecting the stock prices of listed companies in the Stock Exchange of Thailand. The factors considered include the 1-year fixed deposit interest rate, exchange rate (THB/GBP), Thai Industries Sentiment Index, debt to asset ratio, debt to equity ratio, net profit margin, and return on assets. Data were collected comprehensively from 2021 to 2023. The statistics used for data analysis include descriptive analysis such as percentages, mean, and standard deviation, as well as inferential statistics, including Pearson correlation and multiple regression analysis. The study results found that economic factors, specifically the 1-year fixed deposit interest rate, had a statistically significant effect on stock prices in the opposite direction (B=−1.856, p<0.05). Regarding accounting factors, the debt asset ratio (B=−22.737, p<0.01) and net profit margin (B= −0.067, p < 0.05) also had statistically significant effects in the opposite direction, whereas return on assets (B=0.357, p<0.01) had a statistically significant effect in the same direction as stock prices. The findings of this research are expected to be valuable in supporting investment decisions, helping investors understand the factors that affect stock prices, and informing the decisions made by executives in the Stock Exchange of Thailand.

The development of distribution channels using digital marketing to enhance the competitiveness of community enterprise products of tha-li, loei province

Phatnusooda Jaruteerapan, Nitchanan Kawiwangsakul, Maikham Tantipatum — Wed, 31 Dec 2025 00:00:00 +0700

Currently, digital technology plays a significant role in business operations, resulting in traditional distribution channels being insufficient to meet the changing behavior of consumers. Therefore, community enterprises must adapt by using digital marketing to enhance their competitive advantage. This study is a developmental research aiming to: 1) develop distribution channels through digital marketing to increase the competitiveness of products from the Thali Community Enterprise Group, Thali District, Loei Province, and 2) examine the satisfaction and understanding of the target group regarding the application of digital marketing in enhancing distribution channels. The sample group in this research includes 3 experts in marketing and community enterprise development, 6 members of the Thali Community Enterprise Group, and 7 consumers of the group’s products, totaling 16 individuals. The sampling method used was purposive sampling. The research instruments comprised: 1) interview forms, 2) a product promotion platform tested through Facebook Fanpage and TikTok, which included training sessions on digital marketing for the target group, and 3) a satisfaction questionnaire used to assess the effectiveness of the digital marketing system. Data collection was conducted using focus group discussions. The data were analyzed using descriptive statistics, including mean and standard deviation. The findings indicate that Facebook Fanpage and TikTok effectively enhanced brand awareness and expanded market reach for the Tha Li community enterprise. Facebook Fanpage played a pivotal role in branding and product promotion, while TikTok was instrumental in reaching new customer segments through engaging short-form video content. Overall, respondents expressed a high level of satisfaction with the Facebook Page "Hug Paeng – Tha Li Community Products" (x ̅= 3.51) and the TikTok platform "Hug Paeng – Tha Li Community Products" (x ̅= 3.28). These results highlight the significant impact of digital marketing in improving visibility and market accessibility for community enterprises.

A Study of Tourists' Demand for Traveling to Secondary Cities in the Northeastern Region of Thailand

Wed, 31 Dec 2025 00:00:00 +0700

This research employed a survey design with the primary objective of examining tourists’ requirements and expectations regarding travel to secondary cities in Northeastern Thailand. Data were collected from a sample of 201 tourists using a structured questionnaire with a reliability coefficient of 0.94. The data were analyzed using descriptive statistics, including frequency, percentage, mean, and standard deviation, as well as inferential statistics such as t-test, one-way ANOVA, and Scheffe’s post hoc analysis. The analyses were conducted using SPSS at the 0.05 level of statistical significance. The results indicated that tourists placed high importance on positive travel experiences, value for money, adequate facilities, and effective image communication of secondary cities. Furthermore, cultural preservation and the enhancement of local identity were identified as essential components in fostering distinctiveness and attracting sustainable tourism. Based on these findings, it is suggested that strategies for promoting secondary cities should be grounded in tourists’ needs and expectations, while integrating marketing initiatives, infrastructure development, the provision of meaningful experiences, and community engagement. Such an approach would enhance the attractiveness of secondary cities and contribute to equitable income distribution within local communities.

Improving Logistics Management Efficiency by Assessing Industrial Logistics Performance Index: A Case Study of a Ready-Made Garment Manufacturer in Maesot District, Tak Province

Tanawit Fongsamut, Phatcharamon Onched, Methi Kanchanalueanglue — Wed, 31 Dec 2025 00:00:00 +0700

This research aimed to 1) evaluate the logistics management efficiency of a case study ready-made garment manufacturer, 2) propose guidelines for enhancing its logistics management efficiency, and 3) assess the results following the application of the proposed guidelines. This study was conducted as a case study, utilizing quantitative data to evaluate performance indicators, supported by in-depth interviews with three executives. The primary research instrument was the Industrial Logistics Performance Index (ILPI). Data was collected between 2022 and 2023. The research found that: these enterprises showed performance results that were below average compared to other industries, with five performance indicators that required improvement. These indicators are ILPI1R, ILPI2C, ILPI4C, ILPI7C, and ILPI7T. Based on these findings, the researcher proposed improvement strategies for these five performance indicators. For ILPI1R, the recommendation is to analyse demand trends before forecasting, use simple forecasting tools, and apply historical customer order data for predictions. For ILPI2C and ILPI4C, the suggestion is to reduce the number of staff involved in customer service and procurement activities and clearly define their responsibilities, as well as to enhance the use of online communication tools and reduce reliance on phones. For ILPI7C and ILPI7T, the recommendation is to collaborate with suppliers to reduce raw material inventory levels by jointly planning delivery schedules in line with order cycles. The final assessment of applying these improvement strategies, with enterprises re-evaluating their performance indicators after implementing the suggested changes, showed that all five performance indicators improved, demonstrating better logistics management efficiency across the board.