Chaiyasoonthorn, Wornchanok
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Preferred name
Chaiyasoonthorn, Wornchanok
Alternative Name
Chaiyasoonthorn, Womchanok
Main Affiliation
Email
wornchanok.ch@kmitl.ac.th
4 results
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Item type:Publication, Driving financial results is not the only priority! An exploration of the future role of chief financial officer: a grounded theory approach(2024-04-25); ; Purpose: This study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to specific crises, there have been theoretical and practical gaps in the role of CFO. The study's goal is to fill a critical gap by developing a comprehensive and integrated set of roles to assist the CFO in a constantly changing environment. Design/methodology/approach: Using a grounded theory approach, semi-structured interviews and observations were conducted with 21 CFOs from various industries in Thailand, including foreign multinational corporations and domestic companies with international operations. CFOs were asked how they frame their roles in the face of an ever-changing environment and how they prepare for the future. Findings: The iCFO model is developed, which identifies the critical “core” roles of the CFO in securing the business foundation, as well as the “future opportunities” roles that function as growth engines for long-term business strength. The research delves into the importance of integrity, ethical mindset and corporate governance in the role of the CFO. The iCFO model is designed to help guide future research and provide practical applications for CFOs in both domestic and international contexts. The term “core” refers to the CFO’s primary responsibilities, which include driving profitability, managing risks and optimizing business performance. The “future opportunities” component focuses on the roles that CFOs can play in strengthening the future of business by optimizing investment efficiency, driving digital transformation and being the CEO’s business partner. The findings also emphasized “integrity,” which must encompass all decisions, actions or recommendations made by the CFO. Originality/value: The study offers unique perspectives on an emerging economy, providing new insights. Through interviews with 21 CFOs, it contributes empirical evidence on the development of roles in accounting and finance, emphasizing good governance practices. The findings highlight the integrated role of the CFO and their self-reflection on their value within the company. Significantly, the study's implications are relevant and applicable to a global audience, particularly in developing economies that prioritize growth. Future studies could incorporate integrated thinking into the iCFO model to address social, environmental and economic factors, making it more universally relevant. Additionally, exploring the adoption of the chief value officer context in developing markets could enable CFOs to expand their focus beyond financial metrics, embracing a comprehensive approach to value creation. By integrating these concepts into the iCFO model, CFOs can effectively drive sustainable and impactful business outcomes on a global scale. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, EMERGING TRENDS AND ORGANIZATIONAL DRIVERS OF METAVERSE ADOPTION FOR REMOTE WORK: QUANTITATIVE INSIGHTS FROM THE FMCG INDUSTRY(2024-06-24); ; ; Adopting and using metaverse technologies for remote work is increasingly becoming a focal point for organizations across industries, including the Fast-Moving Consumer Goods (FMCG) sector. This study aims to investigate the organizational drivers that influence the intention to use the metaverse for remote work within the FMCG industry. Using the extended TAM framework, the study investigated the effects of various constructs on organizational adoption intentions, including leadership support, performance expectancy, effort expectancy, organizational culture, social influence, and facilitating conditions. Primary data was collected from 341 respondents comprising executives and middle managers from representative multinational FMCG companies. The analysis was conducted using correlation analysis and multiple regression analyses. The results revealed that social influence, organizational culture, performance expectancy, leadership support and facilitating conditions significantly influenced the intention to adopt metaverse in remote work. Corporate culture was also found to have a significant influence on found corporate culture to significantly affect effort expectancy, performance expectancy, social influence and facilitating conditions. The research recommended the importance of cultivating a supportive corporate culture. The top-level management should actively support and champion metaverse adoption initiatives. Additionally, firms operating in the FMCG sector should invest in robust network infrastructure, compatible hardware, and software necessary for metaverse adoption. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Chief Financial Officer's Characteristics and the Impacts on Driving Organization's Future: The Upper Echelons Theory(2023-01-01); ; The purpose of this study is to investigate the relationship between the characteristics of Chief Financial Officer (CFO) and their roles in driving an organization's future. This study is based on the Upper Echelons Theory, which states that the characteristics of management influence organizational outcomes. A survey was conducted with 81 CFOs from publicly traded companies, private domestic firms, and foreign multinational corporations from various industries in Thailand. The study investigated how CFO characteristics such as years of experience and educational background influenced defined CFO roles. Our study found no significant impact of CFO educational background on their roles. Years of experience in the CFO position had a significant impact on roles such as managing risk, delivering business performance, assessing investment efficiency, leading digital transformation, and maintaining integrity and ethics roles. This study advances the ability to predict organizational outcomes beyond existing theories. By taking into account their CFO characteristics, our findings can be used to forecast targeted companies or competitors on a move with a projection. The findings of our research are relevant and broadly applicable to an international audience, owing to the mixed nationality of CFO respondents and the variety of company origins. - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The Development of Qualitative Research Instruments to Explore the Role of Chief Financial Officer (CFO)(2022-07-13); ; The purpose of this article is to describe the process of developing qualitative research instruments for semi-structured interviews. The data collection instruments used to obtain detailed information for a study of the role of Chief Financial Officer. In semi-structured interviews, qualitative researchers must exercise caution when using both the interview guide and the researcher-self as instruments, especially when robust findings are the primary goal. The article begins with the creation of an interview guide using the approach proposed by Joungtrakul [1]. The interview guide approach was inspired by Patton's [2] six types of questions: behaviors/experiences, opinions/values, feelings/emotions, knowledge, sensory, and background. Second, the article emphasizes the researcher as an instrument. The article describes how the researcher self-prepared for an interview, focusing on the participants' professions and ethical considerations. Contributing to body knowledge would benefit other researchers as part of the process of developing interview guides and self-preparation for conducting interviews. Practitioners would be able to use the findings to conduct quality interviews with finance and accounting professionals, and a similar approach for interviewing other professionals using the qualitative research method.