Journal of Management Science Review

Service businesses and queuing management to respond to customer needs in the digital age.

2025-11-11T13:49:03+07:00

This article is a narrative review that explains key concepts related to service businesses, queue management, and customer needs in the digital age. In response to rapid technological change, the service industry has become increasingly competitive. The ability of service providers to effectively meet customer needs is therefore a crucial factor in ensuring customer satisfaction.

When service businesses respond well to customer expectations, customer satisfaction increases, enabling operations to run smoothly and generate consistent profits. Queue management is one of the essential elements contributing to customer satisfaction. Service providers must manage waiting times efficiently by reducing delays, making the waiting experience more tolerable, and decreasing the number of customers in queues. In the digital era, the integration of digital technologies into queue management systems has become necessary. Digital tools significantly influence both customer service experiences and business operations, particularly as most people rely on smartphones for daily activities such as communication, studying, working, online shopping, and digital payments. To effectively meet the needs of digital-age consumers, entrepreneurs must employ digital systems to manage queues and collect customer demand data. Such practices help increase sales, enhance profitability, and support the sustainable growth of service businesses in the digital age.

Compensation Management to Stimulate Performance in Organizations

2025-10-16T21:09:39+07:00

Compensation management is a strategic mechanism that enhances employee motivation and performance, contributing directly to organizational productivity and competitiveness. This article aimed to 1) explain the concept and significance of compensation management within the context of organizational development, 2) synthesize the key factors influencing compensation practices that support employee performance, and 3) propose compensation approaches that align with current economic, social, and technological conditions. This study employed qualitative synthesis based on interviews with entrepreneurs, human resource professionals, and academic experts conducted through online communication platforms, together with a review of relevant literature and empirical research. The analysis revealed four essential dimensions of effective compensation management: 1) a clear yet flexible compensation structure, 2) fair job evaluation and performance-based rewards, 3) labor market benchmarking to ensure competitiveness, and 4) the promotion of essential hard skills, soft skills, and competencies in digital technologies or artificial intelligence (AI) to foster continuous self-development. In conclusion, compensation strategies that are well-aligned with organizational goals and responsive to contemporary contexts can strengthen organizational capabilities and support sustainable growth.

Motivations Affecting the Decision to Rent an Apartment Among Working-Age People in the Gateway City Industrial Estate, Chachoengsao Province

2025-09-12T10:46:38+07:00

The purposes of this research were to study 1) motivations the motivation levels, service marketing mix, and apartment rental decision of working-age group in the Gateway City Industrial Estate; 2) motivations that affected the decision to rent an apartment among working-age people in the Gateway City Industrial Estate; and 3) the service marketing mix that affected the decision to rent an apartment among working-age people in the Gateway City Industrial Estate. The sample consisted of 385 working-age individuals who rented an apartment in the Gateway City Industrial Estate. The sample size was calculated using Cochran’s equation with a 95% confidence level, and convenience random sampling was employed. The instrument was a questionnaire. The descriptive statistics used for data analysis were percentage, mean, standard deviation, and hypothesis testing using multiple regression analysis.

The research results were found as follows: 1) the motivation, service marketing mix (7Ps), and apartment rental decision of the working-age group in the Gateway City Industrial Estate overall were high. 2) Motivations that affected the decision to rent an apartment among working-age people in the Gateway City Industrial Estate were rational and emotional, with a statistical significance of 0.05 and R² = 0.732. And 3) The marketing mix that influenced the decision to rent an apartment for the working-age group in the Gateway City Industrial Estate was product, price, place, promotion, physical characteristics, personnel, and process, with a statistical significance of 0.05 level and R² = 0.928.

A Comparative Study of Social Media Usage Behavior Between Thai and American Consumers: Marketing Communication Guidelines for Multinational Businesses

2025-11-12T09:41:33+07:00

This study aimed to 1) examine and compare social media usage behaviors of consumers in Thailand and the United States, 2) analyze cultural factors, motivations, and communication patterns influencing social media usage in each country, and 3) propose appropriate marketing communication strategies for multinational businesses by considering platforms, content, and strategies aligned with consumer behavior within different cultural contexts. The study utilized secondary data derived from global internet usage surveys and supplementary studies on social media consumption behavior. Content analysis was employed to compare usage patterns, motivations, and communication contexts of social media users in Thailand and the United States.

The findings revealed that Generation Z consumers demonstrated a rapid shift in preferred social media platforms, with Instagram and TikTok emerging as the most popular platforms in both countries. However, businesses in Thailand were found to lag behind these changes, as marketing communication strategies remained heavily focused on Facebook. This misalignment potentially reduced opportunities for effective engagement and relationship-building with Generation Z consumers. The analysis further indicated that cultural values, communication styles, and motivational factors influenced platform preferences and content engagement differently across national contexts.

The study suggested that organizations should adapt their marketing communication strategies to better align with Generation Z behavior by delivering entertaining, concise, and easily understandable content through Instagram and TikTok. Such strategic adaptation was found to enhance brand awareness and foster brand attachment, contributing to sustainable brand growth in an increasingly dynamic digital market. For businesses seeking long-term sustainability, understanding Generation Z consumer behavior and continuously adjusting marketing communication strategies were identified as critical success factors.

Influences of ESG Implementation, Sustainable Supply Chain Management and Green Supply Chain Management on Operational Efficiency of Wine Importers

2025-10-16T10:42:33+07:00

This research aimed to 1) study ESG implementation, sustainable supply chain management, green supply chain management, and operational efficiency, and 2) study the influence of compliance with ESG policy, sustainable supply chain management, and green supply chain management on operational efficiency of wine importers. The population consisted of 440 wine import business operators in Thailand, obtained from stratified random sampling, with 20 times the 22 observable variables. Data was collected by questionnaires and interviews, and analyzed by structural equation modeling.

The findings revealed that ESG implementation, sustainable supply chain management, green supply chain management, and operational efficiency were all rated at high levels. The structural equation model demonstrated a good fit with the empirical data (Chi-Square = 94.857, df = 75, Relative Chi-square = 1.282, p-value = .052, GFI = .966, AGFI = .937, RMSEA = .030, RMR = .007). The results suggest that entrepreneurs should prioritize systematic environmental management, operate in accordance with established policies, comply with international standards, and learn from successful role-model organizations. Additionally, organizations should train personnel to understand environmentally friendly processes, promote cross-functional collaboration, create product differentiation, and improve raw material importation, production, and distribution processes to align with environmental policies. These strategies enhance organizational competitiveness and support sustainable long-term growth.

Factors of Personnel Competency and Perceived Marketing Mix Influencing Community Participation in Sustainable Area-Based Development under the BCG Economy and Sufficiency Economy Concepts in Lat Lum Kaeo District, Pathum Thani Province.

2025-10-16T21:17:24+07:00

This research had three main objectives: (1) to examine the factors related to personnel competency and perceived marketing mix that influenced community participation in sustainable area-based development; (2) to analyze approaches for applying the Sufficiency Economy Philosophy in conjunction with the Bio-Circular-Green Economy (BCG) Model to community development processes; and (3) to propose guidelines for strengthening the grassroots economy and improving the quality of life of people in Lat Lum Kaeo District, Pathum Thani Province. A mixed-methods research design was employed. Quantitative data were collected from a sample of 398 community members using simple random sampling through a questionnaire, while qualitative data were obtained from in-depth interviews with key informants. Data analysis techniques included descriptive statistics, content analysis, and stepwise multiple regression analysis.

The findings revealed that: 1) personnel competency among community leaders was at a high level, whereas competency among community members was at a moderate level. The overall marketing mix was also rated at a moderate level. Community competency, product pricing, and distribution channel components of the marketing mix significantly influenced the level of community participation in sustainable development at the .05 significance level, indicating that local participation depended on internal community capacity and effective marketing management. 2) The application of the Sufficiency Economy Philosophy and the BCG Model to sustainable development required the enhancement of community members’ skills, knowledge, attitudes, and social relationships, along with support from both government and private sectors, such as the establishment of dedicated agencies to promote, support, monitor, and provide continuous guidance on legal regulations, product standards, and market mechanisms. 3) Strengthening the grassroots economy should have focused on participatory development by integrating the Sufficiency Economy Philosophy and the BCG Model in alignment with the Sustainable Development Goals (SDGs) to achieve balanced outcomes across economic, social, and environmental dimensions. The development of occupational groups, community enterprises, and joint action plans, supported by systematic monitoring and evaluation, along with tangible support from government, private sector, and local organizations in terms of funding, technology, marketing channels, and comprehensive legal information, contributed to reducing inequality and sustainably improving the quality of life of local communities.

Factors influencing intention to purchase plant-based meat products in Bangkok and Metropolitan Area

2025-10-16T16:51:33+07:00

This research aimed to study the factors influencing consumers’ purchase intentions toward plant-based meat products in Bangkok and the Metropolitan Area. A quantitative research method was used, using stratified random sampling, with a sample of 435 individuals with prior experience consuming plant-based meat in Bangkok and the Metropolitan Area. Participants were selected through stratified random sampling based on age and monthly income levels. Data were collected via a structured questionnaire and analyzed using structural equation modeling (SEM).

The findings showed that the research model demonstrated acceptable goodness of fit, with a Chi-Square (χ²) value of 2630.1. Consumers’ perceptions of the cleanliness and drug-free nature of plant-based meat products, as well as their perceived effectiveness for weight management, significantly influenced positive expectations at the 0.05 level. Curiosity, food-related anxiety, and health consciousness also had statistically significant positive effects on positive expectations at the 0.01 level. Conversely, biotechnology-related factors did not significantly affect positive expectations. Regarding environmental sustainability and animal welfare, both factors significantly influenced consumers’ compassion at the 0.01 level. Moreover, positive expectations significantly predicted consumers’ purchase intentions, whereas compassion did not show a significant effect on purchase intentions toward plant-based meat products.

The Impact of Environmental, Social, and Governance (ESG) Standards on Audit Approaches for Small and Medium-Sized Enterprises (SMEs) in Bangkok

2025-10-15T14:18:09+07:00

This research aimed to investigate the impact of Environmental, Social, and Governance (ESG) standards on auditing approaches of small and medium-sized enterprises (SMEs) in Bangkok and to examine the relationship between auditing approaches and ESG implementation. The study was conducted between January 2025 and August 2025. A mixed-methods research design was employed, comprising documentary research and survey research. Quantitative data were collected from a sample of 400 SMEs across three major business sectors using proportional stratified random sampling. The data were analyzed using descriptive statistics, Pearson’s correlation coefficient, multiple linear regression analysis, and Exploratory Factor Analysis (EFA).

The findings revealed that SMEs in Bangkok placed high importance on ESG practices, with an overall mean score of 3.98. Among the three dimensions, the social dimension recorded the highest mean (𝑥̅ = 4.00), followed by governance (𝑥̅ = 3.99) and environmental aspects (𝑥̅ = 3.94). Overall, auditing approaches were rated at a very high level (𝑥̅ = 4.29), with compliance with accounting standards and risk management receiving the highest mean score (𝑥̅ = 4.35). Statistical analysis confirmed that ESG practices had a significant positive impact on auditing approaches (R² = 0.672, p < 0.001), with the governance dimension exerting the most decisive influence (β = 0.426). Positive correlations were observed across all dimensions, particularly between information disclosure and governance (r = 0.635). Furthermore, the results indicated that applying ESG standards enhanced efficiency, increased transparency, and reduced auditing risks. The study recommended integrating ESG principles into SMEs’ accounting systems and strengthening government support for knowledge dissemination and financial resources to enhance competitiveness and long-term sustainability.

A Comparative Study of Time Series Models for Forecasting Thailand’s Export Using 21 Years of Monthly Data

2025-10-29T09:54:21+07:00

Exports served as a vital engine driving Thailand’s economic growth, particularly amid heightened international financial volatility. This study aimed to analyze the long-term trends and dynamic structural patterns of Thailand’s major export commodities during 2004–2025 by classifying the statistical components of each product group to develop forecasting models that were both appropriate and accurate in supporting national export performance. The study further sought to identify forecasting models that yielded the highest levels of accuracy and statistical suitability, thereby providing strategic guidance for future supply chain and logistics planning in Thailand’s export sector. The study's population comprised monthly secondary data on the export values of 20 major Thai export commodities, purposively selected for their significant contribution to national exports, covering the period from January 2004 to April 2025. Time series analysis and model evaluation were conducted using Minitab software. Model accuracy was assessed using Mean Absolute Percentage Error (MAPE), Mean Absolute Deviation (MAD), and Root Mean Square Error (RMSE), along with the Akaike Information Criterion (AIC) and Bayesian Information Criterion (BIC) for ARIMA-based models.

The results revealed that appropriate forecasting models varied according to the structural characteristics of each commodity. Commodities exhibiting clear trends were best forecasted using Double Exponential Smoothing. At the same time, those with pronounced seasonal patterns, such as rice and air conditioners, were more accurately predicted using Holt–Winters or Seasonal ARIMA (SARIMA) models. Highly volatile commodities, such as gold, continued to exhibit relatively high forecasting errors even when advanced models were applied. The study recommended developing a national-level export forecasting database to support production planning, logistics management, and the formulation of effective international trade policies.

Operational Leadership Development Models for Manufacturing Organizations In Bangkok Metropolitan Region

2025-10-20T09:17:19+07:00

This research aimed to 1) examine the importance of factors influencing the success of operational leadership development, 2) develop an operational leadership model for manufacturing organizations in the Bangkok Metropolitan Region, and 3) assess the practical suitability of the proposed model. The population consisted of 440 executives from manufacturing organizations in the Bangkok Metropolitan Region, selected through purposive sampling. Data were collected using a questionnaire aligned with the research objectives, and the analysis employed confirmatory factor analysis and structural equation modeling.

The results revealed that the development of operational leadership skills (DOS), building a digital culture (BDC), and the implementation of operational strategies (IOS) were significant factors influencing the success of creating operational leadership (SCOL). The operational leadership development model demonstrated a very good level of practical suitability, with strong model fit indices (chi-square = 115.792, chi-square/df = 1.219, df = 95, p-value = .072, CFI = .991, RMSEA = .022). The development of operational leadership skills exerted both direct and indirect effects on the success of operational leadership creation, with the indirect effects transmitted through digital culture building and operational strategy implementation.

STRATEGIES FOR MANAGING PRIVATE PHYSIOTHERAPY CLINICS TO PROMOTE HEALTH TOURISM IN THE WESTERN REGION OF THAILAND

2025-11-04T10:09:10+07:00

This research aimed to (1) examine the current conditions of private physical therapy clinic management for promoting health tourism in the western region of Thailand, (2) develop management strategies for private physical therapy clinics to enhance health tourism, and (3) evaluate the proposed strategies. The population consisted of 400 service users of private physical therapy clinics in the western region, selected through simple random sampling. Data were collected using questionnaires and in-depth interviews and were analyzed using descriptive statistics, including arithmetic means and standard deviations.

The results showed that a total of 51 private physical therapy clinics were registered under the Ministry of Public Health in the western region. Specifically, there were 16 clinics in Nakhon Pathom (7 districts), 11 clinics in Ratchaburi (10 districts), 5 clinics in Phetchaburi (8 districts), 6 clinics in Prachuap Khiri Khan (8 districts), and 13 clinics in Kanchanaburi (13 districts). Field observations further revealed that most clinics were located in city districts, while several districts lacked access to physical therapy services for residents or individuals interested in health tourism. Factors influencing the selection of health tourism destinations in the western region were ranked as follows: social environmental factors (𝑥̅ = 4.90, SD = 0.579), cultural factors (𝑥̅ = 4.38, SD = 0.679), natural environment and atmosphere (𝑥̅ = 4.38, SD = 0.583), resource availability (𝑥̅ = 4.38, SD = 0.669), health tourism infrastructure (𝑥̅ = 4.37, SD = 0.609), and recreational activities (𝑥̅ = 4.31, SD = 0.937).

The Influence of Experiential Marketing on Consumers’ Repurchase Behavior of Specialty Coffee in Nonthaburi Province

2025-10-29T10:09:13+07:00

The objectives of this research were 1) to examine the levels of opinions toward experiential marketing and the repurchase behavior of specialty coffee consumers in Nonthaburi Province, and 2) to investigate the experiential marketing factors that influenced the repurchase behavior of specialty coffee products. This quantitative study employed a questionnaire as the primary data collection instrument and involved 400 respondents aged 20 years and above who had previously purchased specialty coffee products in Nonthaburi Province. A multi-stage sampling technique was used, beginning with convenience sampling followed by purposive sampling. The data were analyzed using frequency, percentage, mean, standard deviation, and multiple regression analysis.

The results revealed that most respondents were female, over 40 years old, held a master's degree, worked in private companies, and earned over 40,000 Baht per month. The majority visited specialty coffee shops once a week, spending 101–150 Baht per visit, and learned about specialty coffee shops primarily through social media. The main reason for purchasing specialty coffee was their preference for the quality of specialty coffee beans. Most consumers preferred on-premise consumption and commonly ordered cold beverages.

Overall, the respondents’ opinions toward experiential marketing related to specialty coffee repurchase behavior were rated at a high level. When considering each dimension, the highest rating was for Act Experience, followed by Sense Experience, Feel Experience, and Think Experience, and the lowest rating was for Relate Experience.

The hypothesis testing indicated that Sense Experience, Feel Experience, and Relate Experience had statistically significant effects on the repurchase behavior of specialty coffee consumers in Nonthaburi Province at the 0.05 significance level.

The Development of Marketing Strategies for the Commercialization of Health-Oriented Gummy Jelly from Sea Lettuce. Case Study: Phetchaburi Seaweed Development Fisheries Community Enterprise, Ban Laem District, Phetchaburi Province.

2025-10-15T14:51:48+07:00

This research article aimed to: (1) analyze the production and marketing potential of community-based fisheries enterprises engaged in the development of Phetchaburi seaweed; and (2) develop a strategic marketing plan for health-oriented gummy jelly products derived from Ulva seaweed for consumer groups in Phetchaburi Province. A mixed-methods research design was employed. The quantitative sample comprised 400 respondents, selected through convenience sampling with a 95% confidence level. In addition, eight key informants were purposively selected for the qualitative phase. The research instruments included a questionnaire and in-depth interview. Descriptive statistics—frequency, percentage, mean, and standard deviation—were applied in the quantitative analysis, while content analysis was used for the qualitative data.

The results revealed that, in terms of production, farmers possessed continuous year-round experience in cultivating Ulva seaweed. Regarding marketing, products were distributed through local markets, community stores, and online channels; however, consumer awareness remained limited. Nevertheless, the health food trend in Thailand has shown continuous growth. Consumers reported previous experience in consuming health-related products and primarily received information through online media. Among the marketing mix factors, promotional activities obtained the highest mean score. The formulated marketing strategy identified target groups as health-conscious working-age consumers and adolescents who preferred convenient and appealing products. The key selling point was positioned as “Delicious and Healthy from sea lettuce,” under the brand name “SeaFarm”. The pricing strategy combined market-penetration and value-based approaches, while brand communication emphasized storytelling. The evaluation results indicated that satisfaction levels toward brand identity, packaging, and labeling were rated at the highest level in all aspects. This finding reflects the product’s strong potential for entering commercial markets and generating increased income for entrepreneurs, as the product embodies a distinctive identity rooted in both community and customer needs.

Influence of Desired Accountant Characteristics on Work Performance Quality: A Case Study of Accountants in Bangkok and Metropolitan Area

2025-10-15T14:57:32+07:00

This study aimed to examine the influence of desired accountant characteristics on work performance quality among accountants in Bangkok and the metropolitan area. Data were collected using questionnaires from 397 respondents selected through convenience sampling. The data were analyzed using descriptive statistics, correlation analysis, and multiple regression analysis.

The results showed that desired accountant characteristics comprised six dimensions: professional knowledge and skills, technology and information system usage, business and legal knowledge, communication and teamwork skills, analytical and problem-solving abilities, and professional ethics. The findings indicated that these characteristics had a strong positive relationship with work performance quality, which included accuracy, communication, and teamwork, provision of decision-support information, and achievement of work outcomes. Moreover, professional ethics, communication and teamwork skills, analytical and problem-solving abilities, and professional knowledge and skills were identified as significant predictors of work performance quality. In contrast, technology usage and business and legal knowledge were found to have no significant effect. The study emphasized the importance of integrating ethical standards, interpersonal competencies, and technical knowledge to enhance accountants’ work performance. It also provided recommendations regarding skill development and organizational knowledge management to support sustainable adaptation to digital-era transformations.

Toward a Holistic Understanding of Sport Enterprise Sustainability: A Narrative Study in the Thai Fitness and Sport Service Industry

2025-10-15T14:29:24+07:00

This study examined how sport enterprises in Thailand conceptualized and advanced sustainability by focusing on trainer performance, business efficiency, marketing resilience, and innovation ecosystems. Employing a qualitative narrative inquiry design, it captured the lived experiences of fitness trainers, enterprise managers, and sport entrepreneurs. Data were collected through participant self-narratives and semi-structured interviews with 12 purposively selected key informants. The data were analyzed using thematic analysis to identify recurring patterns, meanings, and interconnections across narratives.

The results indicated that trainer competencies formed the foundation of service quality, while business efficiency and marketing resilience strengthened organizational adaptability in rapidly changing environments. Simultaneously, access to innovation ecosystems and external support networks emerged as critical enablers of long-term sustainability. The narratives underscored that sustainability was not a fixed end-state but an evolving process shaped by the integration of human capital, organizational practices, and systemic support. The findings contributed to sport management scholarship by shifting attention from fragmented performance indicators toward a holistic, narrative-informed understanding. In practice, the study offered insights for managers, policymakers, and entrepreneurs seeking to enhance the resilience and sustainability of sport enterprises in emerging economies.

Participatory Design of Community Product Branding and Packaging (Herbal Balm) for the Ban Thung Na Ta Pin Rak Lok Community Enterprise Group, Dan Chang Sub-district, Dan Chang District, Suphan Buri Province

2025-10-15T14:40:23+07:00

This research article aimed 1) to design a brand identity and develop participatory packaging for a herbal balm product to enhance its value and reflect the distinctive local identity, and 2) to examine consumer satisfaction with the brand and packaging of the herbal balm produced by the Ban Thung Na Ta Pin Rak Lok Community Enterprise, Dan Chang Subdistrict, Dan Chang District, Suphan Buri Province. A mixed-methods research design was employed, incorporating both qualitative and quantitative approaches, and guided by the principles of Participatory Action Research (PAR). Qualitative data were collected from five members of the community enterprise, while quantitative data were obtained from 385 consumers and tourists selected through convenience sampling. The research instruments included semi-structured interviews and consumer satisfaction questionnaires. The data were analyzed using percentage, mean, and standard deviation.

The findings revealed that the community enterprise required a brand identity that reflected local cultural characteristics and supported environmental sustainability. Consequently, the brand “Boonpama,” featuring an elephant symbol, was developed along with compact wooden packaging designed with considerations of environmental friendliness, functionality, and identity communication. The satisfaction assessment showed that consumers expressed a high level of satisfaction with the overall brand design (𝑥̄ = 4.25, SD = 0.205) and similarly reported high satisfaction with the overall packaging design (𝑥̄ = 4.23, SD = 0.256). These results demonstrate that participatory design approaches can effectively enhance product value and respond to market needs.

Marketing Mix Factors Influencing Consumer Purchase Decisions on Online Platforms in Suphanburi Province.

2025-10-29T09:58:18+07:00

The objectives of this research were (1) to examine demographic factors, consumer behavior, the marketing mix, and online purchasing decisions through online platforms in Suphan Buri Province, and (2) to investigate guidelines for applying the online marketing mix that influenced consumers’ purchasing decisions. This study employed a mixed-methods research design. The sample consisted of 420 consumers, selected through purposive sampling proportional to the population across all 10 districts of Suphan Buri Province, and 30 online business entrepreneurs. The research instruments included an online questionnaire and in-depth interviews. Quantitative data were analyzed using descriptive statistics and multiple regression analysis, while qualitative data were analyzed using content analysis.

The quantitative findings revealed that most respondents were female, aged 20–30 years, single, held a bachelor’s degree, earned an average monthly income of 10,001–20,000 baht, and were employed in the private sector. They preferred purchasing beauty and personal care products and placed importance on value for money. TikTok was the most frequently used platform, with purchases typically made between 6:01 p.m. and 9:00 p.m., averaging once per week, with spending ranging from 501 to 2,000 baht per purchase. At the .05 significance level, physical characteristics significantly influenced purchasing decisions (β = 0.308).

The qualitative findings indicated that online entrepreneurs utilized capital, personal expertise, and digital technologies—such as TikTok Live streaming, promotional strategies, and AI systems—to build brand identity and increase sales. Adapting marketing strategies to align with consumer behavior enhanced convenience, perceived value, and confidence in purchasing decisions. This study provides practical benefits for small and medium-sized enterprises (SMEs). It may serve as a guideline for developing policies to promote the digital economy at both local and national levels.

The Relationship between Enterprise Risk Management and Financial Value Creation Efficiency of Companies Listed on the Stock Exchange of Thailand

2025-11-04T16:19:19+07:00

This study examined the relationship between Enterprise Risk Management (ERM) and the financial value creation efficiency of companies listed on the SET50 Index of the Stock Exchange of Thailand. The study analyzed 200 firm-year observations spanning the period from 2020 to 2024. ERM was measured using the Enterprise Risk Management Disclosure Index (ERMD), while financial value creation efficiency was assessed via the Weighted Average Cost of Capital (WACC) and Return on Invested Capital (ROIC). Multiple regression analysis was employed for data analysis. The results indicated that ERMD is positively and significantly associated with ROIC (p < 0.05) but showed no significant relationship with WACC (p > 0.10). This suggested that ERM did not directly reduce the cost of capital but served as a mechanism that enhanced internal investment efficiency and supported resource allocation decisions. These findings align with Shad et al. (2022) and Kumar and Agrawal (2024), who emphasize that risk management promotes strategic stability and long-term competitive advantage.

Control variables, including Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q, were positively and significantly related to ROIC, indicating that profitability and market valuation potential were key determinants of value creation. Industry-specific analysis revealed that the Property & Construction and Industrials sectors responded more strongly to ERM than highly stable sectors, suggesting that industries with higher earnings volatility benefit more from effective risk management. Overall, the study highlights ERM’s essential role in generating shareholder value and provides practical insights for designing risk management strategies and policies that enhance stability and sustainability in the Thai capital market.

Experiential Marketing on New Generation Thai Tourists Revisiting Pattaya City, Chonburi Province

2025-10-16T16:56:17+07:00

The objective of this study was to examine experiential marketing factors that influenced revisit intention among young Thai tourists toward tourism promotion activities in Pattaya City, Chonburi Province. The study employed a quantitative research approach and collected data from 422 young Thai tourists using both accidental and convenience sampling methods. A questionnaire was used as the research instrument, and the data were analyzed using inferential statistics, including correlation and regression analysis.

The findings revealed that experiential marketing factors had a positive influence on tourists’ revisit intention, with a multiple correlation coefficient (R) of 0.649 and an R² of 0.421. This indicated that experiential marketing factors explained 42.10% of the variance in revisit behavior. The cognitive and associative dimensions had a statistically significant influence, while the sensory, affective, and behavioral dimensions did not have a substantial effect on the revisit intention of young tourists.

Financial Inclusion of the Elderly in Phetchabun Province

2025-11-06T12:46:47+07:00

The objective of this study was to investigate the factors influencing accessibility of the financial services among the elderly in Phetchabun Province. The study employed a sample of 400 elderly individuals selected through purposive sampling. A questionnaire was used as the research instrument, and the data were analyzed using the Probit Model and Logit Model.

The findings revealed that income, years of education, smartphone ownership, and internet access positively and significantly affected the accessibility of financial services among the elderly at the 0.05 significance level. Therefore, the government and relevant organizations should promote suitable occupations or supplementary jobs for the elderly, along with providing financial literacy training and digital technology skills. Furthermore, encouraging the use of smartphones and internet access could enhance their income opportunities and improve sustainable financial service accessibility.