Digital Technological Usage Intensity and Performance of Listed Companies in the Stock Exchange of Thailand
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Abstract
The adoption of digital technologies in business operations is anticipated to enhance process efficiency, strengthen competitiveness, and improve organizational performance. Nevertheless, infrastructure readiness, perceived benefits, and technology acceptance are important factors. Moreover, the intensity of digital technology use varies across businesses. Therefore, the objectives of this study are (1) to examine the impact of the perceived usefulness of digital technology on digital technology usage intensity; (2) to compare the performance of groups with different levels of digital technology usage intensity; and (3) to investigate the influence of digital technology usage intensity on the performance of companies listed on the Stock Exchange of Thailand. The research instrument was a questionnaire. Questionnaires were distributed to 768 companies listed on the Stock Exchange of Thailand, and 113 responses were received, representing a response rate of approximately 14.71%. The results show that (1) the perceived usefulness of digital technology has a positive impact on digital technology usage intensity (β = .313, p = .037), implying that companies perceiving greater technological benefits tend to invest in and adopt more digital technologies; (2) digital technology usage intensity can be categorized into four groups: low, low–medium, medium–high, and high. Performance differs significantly among these groups (p < .001), suggesting that varying levels of digital technology utilization contribute to differences in firm performance. Firms with higher levels of digital technology adoption achieve better performance than those with lower levels of adoption; and (3) digital technology usage intensity positively influences performance (β = .385, p < .001). The results indicate that companies listed on the Stock Exchange of Thailand with greater awareness of technological benefits tend to adopt a wider range of technologies or integrate digital technologies more comprehensively across their operational processes, resulting in enhanced firm performance.
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