Research article

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Sustainability of a Community Social Security Fund Sunti Tirapat, Ananchai Kongchan and Seksan Kiatsupaibul Pages 1 - 28    Download PDF  Article preview Cite Abstract This research aims at evaluating sustainability of a community social security fund whose structure contains a linkage between the social security fund and the saving accounts. We evaluate the sustainability in two aspects, financial aspect and leadership aspect. Financial sustainability study follows the framework proposed by Gokhale และ Smetters (2003), which considers an infinite horizon fiscal imbalance (FI), with an additional requirement that the social security fund has no negative cash flow over the horizon. Leadership sustainability follows the framework by Center for Excellence in Leadership (2007), composing of Focus to Achieve, Mobilize to Impact, Sustain Momentum and Passion for Excellence. In the financial sustainability study, we find that the social security fund under the study is sustainable provided that the rate of return of the saving linkage is higher than 8 percent. In the leadership sustainability study, we propose a more formal administration that promotes business continuity.
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Technological knowledge transfer from Japanese to Thai textile industry under JTEPA : The realization of benefits Khemarat Talerngsri Teerasuwannajak Pages 29 - 45    Download PDF  Article preview Cite Abstract ?The Cooperative Project in the Textile and Garment Industry? is one of the components in Japan-Thailand Economic Partnership Agreement (JTEPA) which has come into effect since November 2007. It partly aims to enhance technological capability of Thai textile sector through means of knowledge transfer. However, such goal may seem far-fetched if the recipient of the technological knowledge does not know how to facilitate the transfer and lacks commitment to absorb the transferred knowledge. This issue is made particular harder if the knowledge we aim for is tacit in nature. To transform tacit knowledge between two parties requires systematic mechanism and high level of commitment from both. This article aims to provide overview of channels of technological knowledge transfer commonly chosen by Thai textile firms, problems they have been facing as recipients of technology. An example of systematic mechanism of transfer is highlighted such that lessons can be drawn for the Thai textile sector so as to maximize benefit from this cooperation chapter.
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The Value Relevance of Net Income Components of Listed Firms in the Stock Exchange of Thailand in the Last Decade Patcharasuda Panyachunsakunsuk, Pongprot Chatraphorn and Wila-sini Wongkaew Pages 46 - 81    Download PDF  Article preview Cite Abstract The objectives of this research are to study the explanatory power of accrual items and cash flows from operating activities in explaining stock price of listed firms in the Stock Exchange of Thailand, and to study the factors affecting the change between the explanatory power of accrual items and cash flows from operating activities in explaining stock price. The sample consists of listed companies in the Stock Exchange of Thailand, including 17 business sectors from 6 industry groups during the year 1999 to 2006 (before the change to Thai Accounting Standard (Revised 2550)) The results of this study show that cash flows from operating activities and accrual items have a power to explain the change in stock prices. Cash flows from operating activities in fact have more incremental explanatory power than accrual items in explaining stock price especially during the year 2004-2006. The main reasons are from 1) high level of net income or net loss from operation, 2) high amount of assets, 3) high earnings growth rate, and 4) high transitory earnings.
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Cost Accounting Revolution Prapaporn Kiattikulwattana Pages 82 - 91    Download PDF  Article preview Cite Abstract Cost Accounting has been developed continuously before 19th century. The evolution of cost accounting comes from the changing need of costing information. Modern technology and the need of managerial information have shaped the current cost accounting systems to provide useful information than the product cost information shown in financial statement. The evolution of cost accounting starts from the level with inadequate recoding of costing data to the highest level nowadays when information can be used for resource forecasting and simulating scenarios for production plan. Thai article reports the pros and cons of each cost accounting level to so as to determine the organizational information need.
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Precious Metals and their Safe haven and Hedging Abilities during Extreme Stock Market Volatility Conditions and World Financial Crisis: the Case of Thailand Wasakorn Tuntikoon and Pornpitchaya Kuwalairat Pages 92 - 122    Download PDF  Article preview Cite Abstract This research investigates the hedging and safe haven properties of three precious metals that are gold, silver, and platinum during extreme stock market volatility conditions and world financial crisis periods. Using GARCH (1,1) model, we study the relationships between daily return of gold, silver, and platinum in Thai baht and daily return of the SET50 total return index from January 3, 2002 till June 6, 2012. The study finds that gold has weak hedging abilities during the period of study why other precious metals do not have hedging abilities in all periods of study. In addition, when the SET50 index return moves more than 1 percentile in extreme market condition and during world financial crisis in 2008, only gold does act as weak safe haven asset during those periods. In any other periods, all three types of precious metals appear to be co-move with the stock market and thus do not have safe haven property.
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IES 2 ต่อการพัฒนาหลักสูตรปริญญาตรีทางการบัญชี Kriengkrai Boonlert-U-Thai and Danuja Kunpanitchakit Pages 123 - 138    Download PDF  Article preview Cite Abstract This paper reflects a trend in the development of undergraduate accounting curriculums in Thailand and International Federation of Accountants (IFAC) country members. This trend emphasizes on a learning outcome approach to demonstrate professional competence, rather than on a prescribed knowledge content as indicated in the extant International Education Standards 2 (IES 2). This paper aims to provide universities with a guideline for developing or revising accounting curriculums and to encourage accounting and business instructors to adjust their teaching approaches in order to produce accounting graduates who are professional accountants with Technical Competence for Thailand and ASEAN countries.
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Destination Branding Strategies : A Case Study of Bangrak District Sawaros Srisutto Pages 139 - 161    Download PDF  Article preview Cite Abstract This research aims to study the destination branding strategies, a case study of Bangrak district. The strategies of destination branding include Bangrak identity, customer value in tourism, Bangrak image, information sources, logo and slogan. Furthermore, this study investigates the relationships between nationality and customer value in tourism, information sources, and destination image. The findings of this research beneficially contribute to both public and private organizations relating to tourism industry to build a sustainable and strong destination brand in order to promote the destination to attract Thais and foreign tourists.