KMITL

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

Browse

Search Results

Now showing 1 - 8 of 8

Some of the metrics are blocked by your
consent settings
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.
Some of the metrics are blocked by your
consent settings
The influence of government budgets for anti-corruption efforts and government effectiveness on national transparency levels
(2026-03-23)
Moss, Supawadee
;
Buachoom, Wonlop Writthym
Purpose – This study examines government budgeting for anti-corruption organisations and its ability to increase transparency and reduce corruption in Thailand. It also considers government effectiveness (GE), control of corruption (CC), regulatory quality (RQ), voice and accountability, political stability and military spending (MS) as factors influencing greater national transparency. Design/methodology/approach – With the quantitative approach, the linear regression is applied to test the relationship between related budgeting factors and the level of transparency (LT). Data included in the study were collected for 20 years, ranging from 2003 to 2022. The data related to the budget allocated are manually collected from the annual report of the National Anti-Corruption Commission (NACC) and the Office of Public Sector Anti-Corruption Commission (PACC), while some indicators are collected from the global economy and World Bank databases. Findings – The findings suggest that budget spending on anti-corruption organisations is negatively associated with transparency. This is not surprising in a developing country, where increased government spending alone can lead to a higher rate of corruption due to the opportunities it creates for misusing public funds and the potential inefficiencies of the organisations. However, when combined with high GE, budget spending becomes more effective in increasing transparency. This suggests that budget spending alone does not reduce corruption; it must be paired with effective governance. The findings also indicate that greater political instability and higher MS correlate with lower transparency, particularly when military oversight is weak. Conversely, stronger RQ enhances transparency. Research limitations/implications – Limitations of this research include the unavailability of disaggregated anti-corruption budget data (HL and ML) outside Thailand, which precluded direct replication of the core model in the SEA sample. Our fixed-effects approach controlled for unobserved, time-invariant heterogeneity and global shocks, but finer-grained variables, such as enforcement capacity, media freedom or civil-society strength could further illuminate the mechanisms at work. Practical implications – Practical implications suggest that policy prescriptions cannot rely solely on increased funding or regulatory design. They must strengthen institutional capacity and accountability to translate resources into genuine transparency gains. Originality/value – As the effectiveness of budget allocation in reducing corruption, especially in developing countries like Thailand, remains questionable, this study highlights literature to document the effectiveness of the budget system in increasing the transparency level of government activities. The study also extends to test the effectiveness of budgeting on Southeast Asian countries, including Brunei, Cambodia, Laos, Malaysia, the Philippines, Singapore and Vietnam. The results add to the literature that GE and higher CC help to increase the LT in these countries.
Some of the metrics are blocked by your
consent settings
Efficient AI-driven allegation screening: A case study of Thailand’s National Anti-Corruption Commission
(2026-01-01)
Sereewatthanawut, Issara
;
Sriphon, Patipan
;
Khunwipusit, Pattrawut
;
Ajayi, Babatunde Oluwaseun
;
Ilesanmi, Ademola Enitan
Efficient screening of corruption allegations is crucial for promoting accountability and transparency in public administration. However, many institutions still rely on manual processes that are prone to inefficiency and inconsistency. As AI gains traction across sectors, this study develops and evaluates an artificial intelligence (AI)-powered prototype designed to support the preliminary screening of corruption complaints at Thailand’s National Anti-Corruption Commission (NACC). The proposed system integrates Optical Character Recognition (OCR), Natural Language Processing (NLP), and machine learning techniques to automate document handling and improve workflows. A mixed-methods research approach was adopted, combining institutional process analysis with a comprehensive technical performance assessment. The OCR module achieved an F1-score of 81.8%, with precision and recall of 84.2% and 79.6%, respectively. For printed text, the system attained 72% word-level accuracy and 78% at the character level. Additionally, the integrated framework demonstrated a classification accuracy of 57.5% and significantly improved operational efficiency, reducing average complaint processing time by 78.6% compared to traditional manual methods. The findings highlight AI’s transformative potential in enhancing anti-corruption efforts through increased speed, accuracy, and consistency. They underscore the importance of responsible and context-sensitive AI adoption in public sector governance. This study contributes to the growing discourse on digital governance by providing empirical evidence and practical insights for policymakers and practitioners aiming to implement scalable, transparent, and ethically grounded AI solutions within institutional accountability frameworks.
Some of the metrics are blocked by your
consent settings
Cost-efficient food loss and waste management using the FANP analysis
(2026-01-01)
Krommuang, Apiwat
;
Suwunnamek, Opal
;
Buachoom, Wonlop Writthym
This study proposes a structured cost-efficiency framework for managing food loss and waste in the frozen food industry by integrating supply chain analysis with responsibility-based cost concepts. Data collected from key industry stakeholders were used to identify critical factors contributing to food loss and waste across the frozen food supply chain. The fuzzy analytic network process (FANP) incorporated with cost analysis was employed to prioritize these interdependent factors. The results from the FANP show that suppliers and farms, followed by handling and storage. The cost responsibility analysis reveal that 85.47% of total food loss and waste-related costs are controllable, while the weighted cost impact analysis, captures the interaction between factor importance and cost proportion, indicates that factors with the highest weighted cost impacts are predominantly concentrated at the supplier and farm stage. The findings provide clear managerial guidance by identifying priority intervention areas where cost reductions can be achieved most effectively. This study contributes to the literature by linking food loss and waste drivers with controllable cost structures and by demonstrating how FANP can be applied to support cost-efficient and targeted improvement strategies in frozen food supply chains, particularly in emerging food-exporting economies such as Thailand.
Some of the metrics are blocked by your
consent settings
Gender Diversity in Top Management and Its Influence on Stakeholder Lawsuits in Thailand
(2025-06-30)
Buachoom, Wonlop Writthym
;
Suttipun, Muttanachai
Research aims: This study examines the influence of female top management on managing risk and on the potential for stakeholder lawsuits against listed firms on the Stock Exchange of Thailand (SET). Design/Methodology/Approach: In this study, female top management is defined as a woman in the CEO role, and stakeholders refer primarily to shareholders and employees. Data from 2020 to 2022 were collected from the annual reports of the Top 100 Thai-listed firms. At the same time, a proxy of corporate lawsuits is used to measure and disclose the frequency of lawsuits from corporate stakeholders. Descriptive analysis, correlation matrix, and multiple regression are used to analyse the data. Research findings: The average number of stakeholder lawsuits per firm is 5.732, with little yearly difference between 2020 and 2022. In addition, female top management significantly positively influences such lawsuits against top-listed Thai firms. To consider the relationship between board composition and the potential for stakeholder lawsuits, the study also finds a positive impact of board size and the presence of an international board. At the same time, there is a negative relationship between the age of top management and the likelihood of the emergence of stakeholder lawsuits. Originality/Value: The findings of the study demonstrate that agency and stakeholder theories can be used to explain the positive impact of a female CEO on stakeholder lawsuits filed against listed firms in Thailand.
Some of the metrics are blocked by your
consent settings
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.
Some of the metrics are blocked by your
consent settings
Political Uncertainty and Financial Firm Performance: Evidence from the Thai Economy as an Emerging Market in Asia
(2023-01-01)
Trakarnsirinont, Worraphan
;
Jitaree, Wisuttorn
;
Buachoom, Wonlop Writthym
This study analyzes the effects that certain political-uncertainty factors have on financial firm performance in the Stock Exchange of Thailand (SET). The results of a panel regression performed on a database of 7976 firm-years over 18-year unbalanced panel data from 2001 to 2018 show a mixed relationship between political uncertainty and firm performance. The constitutional reform harms the return on assets (ROA), and the government election and political protest significantly decreased the market value of equity (MVE). In contrast, constitutional reform increased MVE, and the government election positively impacted ROA. Therefore, this study emphasizes how political unpredictability is assumed to influence firm performance in Thailand’s economy, an Asian developing country.
Some of the metrics are blocked by your
consent settings
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).

KMITL

Browse

Filters

Settings

Sort By

Results per page

Search Results