Research article

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The Development of Entrepreneurial Intention Model by Binary Logistic Regression: A case study of Thailand Suchart Tripopsakul and Wilert Puriwat Pages 1 - 18    Download PDF  Article preview Cite Abstract The purpose of this study is to develop the entrepreneurial intention model using the binary logistic regression analysis. The sample consisted of 2,362 Thai people involved with entrepreneurial activities based on the Global Entrepreneurship Monitor (GEM) data in 2013. A multi-stage sampling method was used to collect the data from six regions of Thailand using questionnaire as the research instrument. The result shows that the entrepreneurial intention is significantly influenced by three perceptions; namely, Perception on opportunities, Perception on self efficacy and Perceived fear of failure, and also Entrepreneurial network. People, who perceive opportunities of doing business, perceive their business skill, have lower fear of failure and have entrepreneurial network tend to have higher entrepreneurial intention to start up new business than those who do not. Keywords: Entrepreneurial Intention, Global Entrepreneurship Monitor (GEM), Binary Logistic Regression, Thailand
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The Earnings Persistence and the Market Pricing of Accruals and Three Cash Flow Subcomponents of Thai Listed Firms Weerawit Keeratilulset and SomChai Supattarakul Pages 17 - 36    Download PDF  Article preview Cite Abstract This study decomposes current earnings into accruals and cash flows and further decomposes cash flows into three cash flow subcomponents: (1) the change in the cash balance, (2) net cash flows to debt holders, and (3) net cash flows to equity holders. The study provides empirical evidence on the earnings persistence and the market pricing of the persistence of these components of Thai listed firms during 2000-2009. Results on the earnings persistence reveal that cash flows are more persistent than accruals and more interestingly, of all three cash flow subcomponents, net cash flows to equity holders are the most persistence. The market pricing results from the Mishkin (1983) test suggest that Thai stock market overprices the persistence of current earnings, accruals, cash flows, and three cash flow subcomponents. In addition, our empirical evidence suggests that Thai stock market seems to anticipate the higher persistence of net cash flows to equity holders and the lower persistence of cash retained in the firm and net cash flows to debt holders, but it seems to fail to anticipate the lower persistence of accruals, relative to cash retained in the firm and net cash flows to debt holders. Keywords: Earnings Persistence, Market Pricing, Cash Flows, Accruals
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Social media and value Creation in Thai Enterprise Peter Ractham Pages 37 - 62    Download PDF  Article preview Cite Abstract The purpose of this research is to study the Electronic Progression (E-progression) of the Thai listed companies. For the last decade, there has been a rise in social media usage by Thai listed company for marketing purposes. Still, they have just had limited knowledge on how they can use social media in many other business purpose, not only just for marketing purpose. Previous studies have shown that organization can greatly benefit from social media use in various ways; for example, social media can be used to increase the firm’s competitive advantage, build and maintain knowledge management as well as getting valuable customer data for effective Customer Relationship Management practices. First, the purpose of this research is to create a social media checklist and analyzes 603 Thai listed companies in Stock Exchange of Thailand. The results shown that only 157 companies use various social media to achieve level 1 (Online Presence) and level 2 (Interactive Online Presence) in an E-progression levels. Facebook and Youtube were the two most popular social medias that most company employed. Companies in service, real estate and finance sectors were the most active in using social media. Further interviews with relevant stakeholders showed that although most companies use social media as a marketing tool, they perceive the importance of using social media in other activities such as CRM, KM and as a strategic information technology for their future as well
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Consumption Value and Decision Behavior of 3G Service Pongsakorn Limpakarnwech and Nuttapol Assarut Pages 63 - 81    Download PDF  Article preview Cite Abstract The objective of this study is to investigate the relationship among consumption value, behaviors and satisfaction toward 3G services. This study classifies Bangkok consumers according to consumption value toward 3G services and describes demographics, behavior and satisfaction of each consumer group. The study also studies the relationship between mobile network operators and consumption value as well as satisfaction toward 3G services. The results show that the respondents who use 3G services in Bangkok can be categorized into five segments - all values concern group, emotional and social value concern group, work efficiency concern group, customer service concern group and no value concern group. The all values concern group has the most varieties of 3G service usages. It is also found that functional value in term of quality and price is the factor that most influents consumer satisfaction toward 3G service. The emotional value appears to be the second factor to influence consumer satisfaction. The finding of this study can be used as information source for mobile network operators to create marketing strategies that fit to consumers with different consumption values.
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Exchange Rate of Thailand in the Modern Era: Float Exchange Rate Surachai Chancharat, Chatchai Kaenjad and Napassanan Baratpaiboon Pages 82 - 104    Download PDF  Article preview Cite Abstract The objective of this study was to study the movement of Baht exchange rate towards international currency exchange such as US Dollar, Yen, and Euro under structural break after Thailand has used floating exchange rate system. Sticky price monetary model was used to analyze the data of exchange rate, relative money supply, interest rate differential, expected inflation differential and relative income from July 1997 to December 2011. At first, the stationary of data was tested by using Unit Root Test created by Zivot and Andrews (1992). The result showed that the variables in the model had the stationary at level, first and second differences, and it also informed the period starting the change of each variable structure. For the second part, the long run relations of variables in the model were analyzed by Cointegration presented by Gregory and Hansen (1996). The results have shown that in case of Baht Exchange Rate towards US Dollar, there were the long run relations and all variables in the model were significant. However, there was only income variable by comparing having the check mark. The structural changing period was in November 2000. For Baht Exchange Rate towards Yen, there were the relations in a long period, but interest rate spread only was significant and the symbol was not in the line with the theory. The structural changing period was in October 2007. Moreover, in case of Baht Exchange Rate towards Euro, there was no relation in a long period.