• 유통과학연구
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• 제20권12호
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• pp.71-79
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• 2022

Purpose: This study aimed to apply factors of successful online marketing strategy for food distribution SMEs and the effects of these successful strategies to achieve higher performances. Research design, data, and methodology: Questionnaires were used to collect data from 400 samples of SMEs in Thailand. We employed structural Equation Modeling techniques for data analysis. Results: The results revealed that distribution strategies directly affected the success of business operations, as follows: 1) Customer communication channels, product variety, preserved privacy, and personal service had direct positive effects on the distribution success in terms of financial perspective, customer perspective, internal process perspective, and earning and growth perspectives; 2) Ability to learn a competitor had a positive direct relationship with the distribution success in terms of financial perspective and learning and growth perspectives, excluding customer perspective and internal process perspective; and 3) Responses to market on time had a positive and direct influence on distribution success in terms of customer, internal process perspective and learning and growth perspectives excluding financial perspective. Conclusions: This research has made an essential contribution to SMEs that they should focus on and adopt these 6ODS+4BSC concepts as development guidelines for food distribution SMEs to be more efficient and effective.

• 유통과학연구
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• 제20권12호
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• pp.81-87
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• 2022

Purpose: This study aims to explore the relationship between stock liquidity and skewness risk-tail risk (stock price crash risk) in an emerging market, in which problems on liquidity are more severe than in developed markets. Research design, data, and methodology: Based on the Thai market stock exchange over the period of 2000 to 2019, our sample include 13,462 firm-period observations. We employ a panel regression models regarding to five liquidity measures. These five liquidity measures cover three dimensions of liquidity namely the volume-based, price-based, and transaction cost-based measures for the liquidity-tail risk relationship. Results: We find a positively significant relationship between stock liquidity and tail risk in all cases. The finding here shows that the higher the stock liquidity, the larger the tail risk is. Conclusion: As the prior studies show inconclusive effect of stock liquidity on stock price crash risk, we demonstrate that mixed results found in prior studies are probably driven from the type of liquidity measure. The stock liquidity-tail risk association is present in the Stock Exchange of Thailand. The results remain the same regardless of the definition of tail risk and liquidity factors. An endogeneity issue is addressed by employing the two-stage least squares regression.

• Journal of Astronomy and Space Sciences
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• 제39권4호
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• pp.169-180
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• 2022

We investigated the chemical composition of the planetary host halo star HD47536 via high-resolution spectral observations recorded using a 1.5 meter Cerro Tololo Inter-American Observatory (CTIO) telescope (Chile). Furthermore, we determined the abundances of 38 chemical elements. Both light and heavy elements were overabundant compared to the iron group elements. The abundance pattern of HD47536 was similar to that of halo-type stars, with an enrichment of heavy elements. We analyzed the relationships between the relative abundances of chemical elements and their second ionization potentials and condensation temperatures. We demonstrated that the interplay of charge-exchange reactions owing to the accretion of interstellar matter and the gas-dust separation mechanism can influence the initial abundances and can be used to qualitatively explain the abundance patterns in the atmosphere of HD47536.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.383-390
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• 2021

This study investigates the effect of shareholders' rights, disclosure, and transparency on firm value. This study also investigates whether corporate social responsibility (CSR) is pure moderation or quasi moderation in the effect of shareholders' rights, disclosure, and transparency on firm value. This study's novelty is building a model framework to increase firm value and the role of CSR in increasing firm value. This study used secondary data provided by Indonesia, Malaysia, and Thailand Stock Exchanges. The sample of this study is 142 companies with four years of observations from 2012-2015. Firm value is measured by Tobin's Q. While shareholder's rights, disclosure, and transparency are measured using the ASEAN scorecard. The analysis method used in this study is a fixed effect model using a panel data approach. The result of this study shows that shareholders' rights have a significant positive effect on firm value. However, disclosure and transparency do not affect firm value significantly. In comparison, the CSR disclosure has a moderation effect on the relationship between shareholders' rights and firm value. The CSR disclosure does not have a moderation effect on the relationship between disclosure and transparency and firm value.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.781-791
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• 2021

This study aims to analyze the relationship between the business cycles of the ASEAN +3 countries. In addition, the effects of the spillover value on the coincident indicators are determined. This study employs secondary data and uses multivariate time series of five ASEAN countries, namely, Indonesia, Malaysia, Singapore, Thailand, and the Philippines. The proxy was the real gross domestic product (GDP) collected annually from the CEIC, the IMF, and the World Bank for the period from 1964 to 2016. The data was plotted against two time periods, 1964-1998 as the pre-crisis period, and 1999-2016 as the post-crisis period. The index data was changed to the base year 2010. The data was subsequently separated from the trends and the cyclic components. The cyclic components were obtained by using Hondrick-Prescott filter, and them were further analyzed. The analytical method used was Contemporaneous and Cross-Correlation tools. The results showed that, before and after the crisis, the value of the business cycle correlation between ASEAN +3 countries was stronger and moved together at the same level of lag value. The implication of this research was an initial finding of the ASEAN +3 countries' prerequisites for the formation of a common currency.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.1021-1034
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• 2021

The study investigates and measures the impact of the emotional intelligence orientation on audit sustainability in Vietnam. Survey data for this research were collected from 260 auditors (CPAs) currently working in auditing firms, for the period from April 2020 to July 2020. In this study, we have built a model with two dependent variables (Emotional intelligence orientation and Audit sustainability) and six independent variables (Proactive audit vision, Continuous audit development, Dynamic audit experience, Audit environmental change, Stakeholder expectation pressure, Advocacy culture). The research methods used include Cronbach's Alpha test, exploratory factor analysis (EFA), confirmation factor analysis (CFA) and linear structural model analysis (SEM). The results showed that (1) Proactive audit vision, (2) Continuous audit development, (3) Dynamic audit experience, (4) Audit environmental change, (5) Stakeholder expectation pressure are positively related to emotional intelligence orientation. However, Advocacy culture is not positively related to Emotional intelligence orientation. The findings of this study suggest that emotional intelligence orientation positively impacts audit sustainability (similar to the findings by Thapayom, Ussahawanitchakit, & Boonlua, 2017, 2018 in Thailand). The results of this study provide a scientific basis for managers at auditing firms to make appropriate decisions to improve auditing activities in the coming years.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.151-160
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• 2021

The purposes of this research were: 1) to analyze the confirmatory factors with the business operational model of entrepreneurs of small and medium enterprises (SMEs) in the textile and clothing industry, and 2) to verify the congruence of the model with the operational ways of the entrepreneurs of SMEs in the textile and clothing industry. The sample consisted of 500 small and medium enterprise entrepreneurs in the textile and clothing industry. This study was quantitative research and the instrument used to collect the data was a questionnaire. The data was analyzed using 1^st order and 2^nd order of confirmatory analysis (CFA). The findings of this research revealed that the model of SMEs in the textile and clothing industry was overall at a high level. Four main factors were used for the model of SMEs in the textile and clothing industry by their importance in descending order as follows: marketing mix (MM), collaboration network (CN), production inventory management (PIM), and creativity (CT). The results of verification of model congruence revealed the model of SMEs in the textile and clothing industry was fit and in accordance with the empirical data.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.139-150
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• 2021

The financial system is a relatively important sector in the economy of a country. Its role in providing access to financial services to people is able to support a better economy. The main problem in this financial system is caused by the barriers that prevent individuals or companies from accessing these financial services. This study aims to empirically analyze the relationship financial inclusion and financial system stability in ASEAN 4 (Indonesia, Malaysia, Thailand, and The Philippines). Financial inclusion proxied by the financial inclusion through credit variable and other banking variables such as the number of financial services access, banking asset, and financial system stabilization is seen from banking performance through non-performing loan and Z score instruments. Empirically, the study uses panel data in the form of annual data for 2005-2016. The method used Panel VAR. The result shows that financial inclusion affects the stability of the financial system in ASEAN 4. This indicates that financial development through financial inclusion can encourage stability of the financial system in ASEAN 4. In this globalization era, the integrated financial system is increasing, this research shows the importance of developing financial inclusion by eliminating barriers to financial exclusion.

• 국제지역연구
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• 제21권1호
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• pp.137-161
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• 2017

본 연구는 미얀마 의류산업에 있어 미얀마의 주요 수출대상국인 한국과 일본, 인접국이며 경제제재 이후로 미얀마와 지속적인 거래관계를 유지해오고 있는 중국, 태국을 선정해 의류산업 상호경쟁력을 살펴보고, 주요 의류상품별 무역결합도를 분석해 향후 미얀마 의류산업의 현실을 직시한 경쟁력있는 대안을 제시하고자 한다. 이에 한국은 미얀마와 섬유산업에 있어 유사한 경쟁력을 가지고 있는 국가와의 차이점에 따른 미얀마의 장점을 인식하고 한국이 미얀마 섬유산업에 있어 노동인력 양성, 산업관계 강화, 안전시설 강화, 건전한 노사관계 정립등 대책을 통한 미래지향적인 의류산업으로 발전할수 있어야 한다.

• 동남아시아연구
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• 제23권1호
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• pp.89-126
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• 2013

The Red shirts came to attract attention of the international community during April to May in 2010 by successfully organizing explosive popular demonstrations. The momentum was the military coup on September 9, 2006. The Red color was chosen amid movements against the new constitution instituted under the military junta. In discourse struggles, the Red shirts compared their resistance against the Democratic Party government lead by Abhisit Vejjajiva to that of phrai (commoner or serfs) against ammart (aristocrats or bureaucrats) under the pre-modern reign of sakdina. The Red shirts strongly accused Prem Tinsulanonda, the chief of the Privy Council, of being a mastermind of 2006 military coup, who symbolically represents the cohesion between the palace and the military. It has constituted an unprecedented defiance towards national taboo where the trinity of Nation, Religion, and King has been consecrated. The objective of this article is to review the Red Shirts' ideology, organizations and activities in terms of the modernized phrai's struggles for expanding counter-hegemony. While Antonio Gramsci focused on why socialist revolution had failed to materialize in capitalist Western Europe, I pay attention to why political liberalism has failed to wash away pre-modernity and take root in capitalist Thailand, applying the Gramscian concept of hegemony by contrasting 'hybrid ammart' with 'modernized phrai'.