Research article

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Regulatory Reforms on Independent Directors and Earnings Management of Listed Firms in Thailand Thikun Supasai and Chaiwuth Tangsomchai Pages 1 - 22   DOI 10.14456/cbsr.2018.17  Download PDF  Article preview Cite Abstract This study aimed at investigating the effects caused by regulatory reforms in the proportion of independent directors towards earnings management of listed companies on the Stock Exchange of Thailand. The study compared changes of earnings management of the two sample groups, the compliant firms and the noncompliant firms, before and after the regulatory reforms. The analysis of data was based on descriptive statistics and the multiple regression. Discretionary accruals were used as the proxies for measuring earnings management. Data was collected from financial statements of listed companies during 2007 – 2011 in amounting of 305 sample firms. The results showed that after the regulatory reforms in the proportion of independent directors, earnings management of the noncompliant firms was not statistically different when comparing to those compliant firms. However, in the case of the noncompliant firms with low information acquisition cost, the study found that earnings management were decreased significantly. This reflects that the regulatory reforms regarding the proportion of independent directors reduced earnings management for the firms with low information acquisition cost. Nevertheless, the regulatory reforms were not effectively enough to reduce earnings management of the overall firms.
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The Structural Equation Model of E-Service Quality on Customer Satisfaction and Repurchase Intention: Case Study of Purchasing Products from Websites Suchart Tripopsakul Pages 23 - 52   DOI 10.14456/cbsr.2018.18  Download PDF  Article preview Cite Abstract The purposes of this study are to investigate the influence of an electronic service quality towards a customer satisfaction and repurchase intention of customers purchasing products via websites and to develop and validate the proposed causal model with the empirical data. The model involved three latent variables; namely, electronic service quality, customer satisfaction and repurchase intention. The quantitative survey research method is used for this study and the research tool is a questionnaire to collect data from 347 online application shoppers as the sample size. The statistics used in data analysis were frequency, mean, One Way ANOVA, and structural equation model analysis. The result showed that it was found that the model was consistent with the empirical data. Goodness of fit measures was: Chi-square 812.71 (df = 345, p-value = 0.516); Relative Chi-square (X2/df) 2.356; Goodness of Fit Index (GFI) 0.912; and Root Mean Square Error of Approximation (RMSEA) 0.033. It was also found that the electronic service quality positively influences both directly and indirectly repurchase intention; and, customer satisfaction positive influences repurchase intention. The result also revealed that different level of online purchasing frequency significantly caused different level of electronic service quality.
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Factors Affecting the Behavioral Intention to Use the DevOps Concept for Software Development Sanithpan Jittangsomboon and Mathupayas Thongmak Pages 53 - 110   DOI 10.14456/cbsr.2018.19  Download PDF  Article preview Cite Abstract Nowadays, businesses are rapidly changing, so software development and delivery processes must be fast and flexible. Many businesses have adopted an Agile development methodology, which focuses on the process that meets the user requirements in order to supports the changing of business requirements. However, it does not cover the continuity and automation delivery of the software. Meanwhile, DevOps concept deals with processes start from software development to delivery process which emphasis on collaboration between product manager, software development team, and operations team. Although this concept is supported by public administration and private sectors, it still has yet to be fully explored in Thailand. The purpose of this research was to study the factors affecting the behavioral intention to use the concept of DevOps software development. The research consists of project dimension (the characteristics of the Agile project factor) and technical dimension (the availability of technology tools that support the DevOps concept factor) that have an influence on the compatibility factor between work and technologies. In addition, organizational dimension (the executive support factor), people dimension (self-efficacy and perceived of usefulness factors) and process dimension (Agile software development usage factor). The results shown that the perceived of usefulness factor was the most influential intention to use DevOps concept. Followed by, self-efficacy factor, compatibility factor between work and technologies, and executive support factor respectively. On the other hand, Agile software development usage factor did not support the intention to use the DevOps concept.
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The Effect of Trading by Different Trader Types on Realized Volatility and Jumps: Evidence from the Thai Stock Market Suparatana Tanthanongsakkun, Sirimon Treepongkaruna, Marvin Wee and Robert Brooks Pages 111 - 142   DOI 10.14456/cbsr.2018.20  Download PDF  Article preview Cite Abstract We examine the effect that different trade measures for each investor type have on realized volatility and the components of volatility. By following Barndorff-Nielsen and Shephard (2004)’s techniques, the realized volatility is decomposed into the continuous and jump components. Using a detailed high-frequency data set during 1999-2009, we find that retail investors dominate trading on the Stock Exchange of Thailand and retail trades has the greatest effect on realized volatility, and the components of realized volatility. While the increase in trading by retail investors is associated with an increase in realized volatility, their withdrawal from the market is associated with jumps in volatility. Moreover, we find the number of trades by retail investors among others have the greatest association with the continuous component of volatility suggesting their trading is associated with the release of expected news on the market. This result may suggest that some of retail traders are likely to be informed.
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The Role of Audit Committee on Strategy of Company in Thailand Kajornvut Namsirikul Pages 143 - 175   DOI 10.14456/cbsr.2018.21  Download PDF  Article preview Cite Abstract The previous studies for the role of audit committee are mainly about the responsibility to oversee the integrity of the financial reporting, the controls and procedures implemented by management, to protect the interests of shareholders and other stakeholders which focus on the conformance roles. There is no research study for the performance roles of audit committee which are related to the strategic formulation and policy making. Therefore, this research is needed to investigate the performance roles of audit committees in Thailand. This study employed the cross sectional design which was the most predominant design in the social sciences. Questionnaire surveys have mailed to 452 companies that listed in the SET covering 8 sectors. The usable response rate is 12.83%. The findings indicate that there are six areas of the role of audit committee on strategy that have been evaluated with the grand mean of 3.32. For the risk assessment of the strategy by audit committee, the findings also indicate that there are seven areas that have been evaluated with the grand mean of 3.25. The Implication of this research will encourage management and audit committee to focus more on performance roles of audit committee related to strategic formulation in each areas mentioned in this research. SET regulators will also understand the roles of audit committee specifically in the auditing process of strategy formulation or strategic planning which will partly drive to corporate success. As a result, SET regulators may implement more rules and regulations to control performance roles of audit committee. Shareholders or investors will benefit from using this research findings as a guidelines to invest in the companies which audit committee participates and audits the company strategy. For the academic, the research findings can be used for further study in the future for the role of audit committee on strategy of company in Thailand.