Research article

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Development and Validation of Strategic Human Resource Management Scale in Information and Communication Technology Organization: Multilevel Analysis Karun Pratoom and Supapong Pinwaha Pages 1 - 21    Download PDF  Article preview Cite Abstract Although there are a growing number of studies on the relationship between strategic human resource management (SHRM) practices and employees performance, few studies have addressed multilevel structure of SHRM. Several studies gather individual-level data to measure organization-level SHRM, however, validation of multilevel construct have yet to be fully examined. The main aim of this study is to the development and validation of SHRM scale. A data collection involved 388 workers from fifty four companies that are member of the Association of Thai Information and Communication Technology Industry (ATCI). The multilevel confirmatory factor analysis (MCFA) was used to properly evaluate the factor structure underlying the SHRM questionnaire composed of five scales: selection, training, empowerment, goal-oriented performance appraisal, and performance-based compensation. The MCFA results demonstrated the multilevel construct validity of SHRM scale. Multilevel path analysis founded that three central dimensions of SHRM affect employees’ performance. The results are discussed in the context of the theoretical framework of the SHRM, with suggestions for future validation work.
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Institutional Investors and SET Index Stability Pichayanee Sooksarun and Somchai Supattarakul Pages 22 - 57    Download PDF  Article preview Cite Abstract This study aims at providing empirical evidence on three issues: (1) the relationship between the volatility of SET (The Stock Exchange of Thailand) index and trading volume of institutional investors, (2) Information-based trading and noise trading by institutional investors, and (3) Herding and positive feedback trading by institutional investors. This study finds that institutional investor buy (sell) stabilizes (destabilizes) SET index but eventually, their net buy stabilizes SET index. However, it is inconclusive that institutional investors are reasonable because this study finds empirical evidence suggesting that institutional investors’ net buy stabilizes SET index only during the down market, not during the up market. This study finds herding and positive-feedback trading by institutional investors; however, these trading behaviors enhance SET index stability.
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The Components of Bid-Ask Spread in Thailand’s Government Bond Market Anya Khanthavit Pages 58 - 75    Download PDF  Article preview Cite Abstract Bid-ask spread can be decomposed into permanent and transitory components. In this study, I estimate the spread’s permanent and transitory components in Thailand’s government bond market--using daily bid and ask yields from January 2, 2003 to August 22, 2014, and relate them respectively with asymmetric-information and inventory-control costs being incurred by dealers. The inventory-control components exhibit a J-shaped relationship with bond tenors. Their levels and percentage shares fall to almost zero for 5- to 10-year bonds. The asymmetric-information components are correlated positively with dealer-to-client trading volume to which asset management companies contribute most.
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The study of individual’s cognitive perceptions on entrepreneurial intention: the comparative study of Thailand Asian European and Latin America countries Suchart Tripopsakul, Ulrike Guelich and David Achtzehn Pages 76 - 96    Download PDF  Article preview Cite Abstract The purpose of this study is to investigate a range of cognitive perceptions and their respective effect on individual’s intent to start a new venture. A cross-cultural comparison between Thailand, Asia, Europe, and Latin American countries is used to further investigate the possible differences between potential entrepreneurs from these distinct national contexts. The empirical analysis includes a GEM data set of 18 countries (n = 56,003) which was collected in 2012. Logistic regression is used to investigate the effect of individual’s cognitive perceptions on EI. Independent variables include individual’s perceived capabilities, the ability to recognize (entrepreneurial) opportunities, risk perception, media attention for entrepreneurship, high status successful entrepreneurs, and entrepreneurship as desirable career choice. Moreover, a cross-cultural comparison of the model is conducted including Thailand, five Asian six, Latin-America and six European nations. The findings support the relationship between individual’s cognitive perceptions and their intent to participate in entrepreneurial activities. Individual’s capability, opportunity recognition, networks and a range of socio cultural perceptions all influence EI significantly. Media attention for entrepreneurship was found to influence EI in Thailand, Asia, and Latin-America, but not in Europe. On the hand, a high status successful entrepreneur was found to influence EI in Asia, and Latin-America, but not in Thailand and Europe.
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E-tourism Readiness of Hotels in Thailand Siriluck Rotchanakitumnuai, Panjarasee Punnachaiya, Surat Kointarangkul, Wanchai Khanti and Arunee Tanvisuth Pages 97 - 114    Download PDF  Article preview Cite Abstract The objective of this study is to determine the components of electronic tourism readiness (E-tourism readiness). The impact of E-tourism readiness components on e-tourism service of Thais' hotel efficiency is assessed. The result shows that E-tourism readiness consists of five components including the use of information technology, human resource efficacy, re-engineering of business process, adaptation to use e-tourism, and information technology resources readiness for conducting e-tourism services. Information technology resources and applying the use of information technology readiness also have major impacts on enhancing the efficiency of e-tourism services.
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Management Governance and Business Performance : An Empirical Investigation on Hotel Businesses in Thailand Santiparp Sookaneknun Pages 115 - 131    Download PDF  Article preview Cite Abstract The objective of this research is to examine the relationship between management governance and business performance: An empirical Investigation on hotel businesses in Thailand. The samples are 180 firms in Thailand by using a mail questionnaire as a research instrument. Statistic for data analysis is descriptive statistics. Hypothesis testing is multiple regression analysis. The results show that 1. Employee value orientation, social responsibility interest, and operational excellence concern have positive effects on organizational reliability, 2. Executive competency focus, social responsibility interest, and operational excellence concern have a positive effect on customer loyalty, 3. Executive competency focus, business ethic awareness, and operational excellence concern have a positive effect on firm growth. The results of this research can be applied to explain managerial theory, six dimensions of management governance, and apply to strengthen and the competitiveness of businesses.