KMITL

Permanent URI for this communityhttps://dspace.kmitl.ac.th/handle/123456789/1

Browse

Settings

Author: search.filters.author.Amornkitvikai, YotHas files: No

Search Results

Now showing 1 - 3 of 3
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    The Moderating Effects of Board Independence and the Separation of Chairman–Chief Executive Officer Duality Roles on a Firm’s Value: Evidence from the Thai Listed Firms
    (2026-06-01)
    Buachoom, Wonlop Writthym
    ;
    Amornkitvikai, Yot
    Since the 1997 financial crisis, good corporate governance is one of the most contentious problems for Thai listed companies’ long-term viability. Unlike earlier research in Thailand, this article uses a three-level hierarchical regression model to examine the moderating effects of board independence and the separation of chairman–chief executive officer (CEO) duality roles on the firm’s value of the Thai listed firms between 2010 and 2019. This study confirms a negative relationship between family ownership and a firm’s value in Thailand. Nevertheless, it reveals that the association between family ownership and firm’s value becomes positive if the Thai listed firms have a high proportion of independent directors. Further evidence confirms that the separation of chairman–CEO duality roles can increase a firm’s value, but it cannot solely enhance the value in those firms with high family ownership. Finally, this study discusses empirically-based practical implications and recommendations.
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Female ownership and female directors’ moderating role as corporate governance monitoring mechanisms in increasing the value of Thai family-owned firms
    (2023-11-16)
    Buachoom, Wonlop Writthym
    ;
    Amornkitvikai, Yot
    ;
    Al Farooque, Omar
    ;
    Sun, Lan
    Purpose: The phenomenon of “broken rungs” has prevented most women from attaining managerial positions relative to men. Despite this gender disparity in management, female executives are more likely to enhance shareholder trust due to higher ethical standards, which can be hypothesized to mitigate the negative impact of family ownership on firm value. Therefore, this study aims to investigate the moderating role of female ownership and female directors in mitigating the unfavorable effects of family ownership on firm value as measured by Tobin’s Q and the Market Value of Equity (MVE). Design/methodology/approach: Multiple linear regression is applied to examine the proposed hypotheses, as well as other vital factors, such as board independence (BI), the dual chief executive officer (CEO)–chairman role (CEO duality) and control variables (i.e. firm size, firm age, leverage and investment ratio). Findings: The results revealed that female directors could buffer the negative impact caused by family ownership, leading to higher firm value, when given a sufficient level of female ownership or the appointment of more female directors, regardless of female ownership levels. Otherwise, female ownership cannot help overcome the negative effects of family ownership in Thai-listed firms. This study also sheds light on corporate governance elements that impact firm value. CEO duality reduces the value of Thai-listed companies, whereas board independence increases firm value. Practical implications: The managerial roles for women should be promoted in Thai-listed enterprises. The government can support new laws, policies and programs for embracing a cross-cutting gender perspective. Female network initiatives enable women to advance in their managerial careers. Originality/value: To the best of the authors’ knowledge, this study intends to fill the research gap by investigating how female directors and owners can moderate family ownership’s influence on the value of firms listed on the Stock Exchange of Thailand (SET), which is one of the emerging capital markets.
  • Loading...
    Thumbnail Image
    Some of the metrics are blocked by your 
    consent settings
    Item type:Publication,
    Barriers and Factors Affecting the E-Commerce Sustainability of Thai Micro-, Small- and Medium-Sized Enterprises (MSMEs)
    (2022-07-01)
    Amornkitvikai, Yot
    ;
    Tham, Siew Yean
    ;
    Harvie, Charles
    ;
    Buachoom, Wonlop Writthym
    It is anticipated that e-commerce will contribute to achieving the 17th Sustainable Development Goal, which seeks to improve implementation mechanisms and revitalize global partnerships for sustainable development. However, MSMEs still face a digital gap compared to large enterprises, which affects their e-commerce sustainability. The study’s objective is to examine the factors and barriers affecting the e-commerce sustainability of Thai micro-, small- and medium-sized enterprises (MSMEs) based on a survey of retail and food and beverage (F&B) service MSMEs in metropolitan Bangkok. Estimations confirm the significance of the TOE framework for Thai MSMEs. Internal e-commerce tools (i.e., smartphones and websites) and external e-commerce platforms (i.e., social media, e-marketplaces, and food delivery platforms) can enhance e-commerce sustainability. However, the age of firms and owners (CEOs) affects e-commerce sustainability negatively. Exports, B2B e-commerce, and e-commerce experience can promote the e-commerce sustainability of Thai MSMEs. However, they perceive that many consumers are still not literate in using e-commerce. In addition, Thailand still has insufficient security to prevent hacking and malware. Therefore, Thai entrepreneurs’ e-commerce literacy is insufficient to enhance their e-commerce sustainability. On the other hand, sustainable e-commerce can increase customer satisfaction, loyalty, and trust through customer support, leading to more long-term online shopping. Hence, this study focuses on e-commerce sustainability-based economic dimensions, as measured by the percentage of e-commerce sales to total sales (e-commerce utilization/intensity).