Journal of Business, Innovation and Sustainability (JBIS)

Analysis of Safe Haven Quality of Cryptocurrencies under the Cryptocurrency Policy Uncertainty

Kanya Wadthanakul — Fri, 27 Sep 2024 00:00:00 +0700

This study aims to analyze the safe haven properties of the top three cryptocurrencies (BTC, ETH, and BNB), in comparison to returns of conventional financial assets (Gold, Oil, US Dollar Index, S&P500) under the Cryptocurrency Policy Uncertainty Index (UCRY) From 5 January 2014 to 3 January 2021 by using DCC-GARCH Model. In addition, this study also examines the lead-lag relationships between pairs of assets using Wavelet Coherence Model. The results show that BTC, ETH, and BNB are weak safe havens for Gold, while BTC is a weak safe haven for every traditional financial asset. Moreover, BTC and ETH display a lagging relationship with Gold, while BNB exhibits a positive correlation with Gold. Similarly, BTC ETH and BNB positively correlate with S&P500 during the COVID-19 pandemic.

Assessing Competencies, Career Adaptability, and Employability of Senior Students in Hospitality and Tourism Program after the COVID-19

Woraprat Yoelao, Paramet Damchoo, Janrapee Kemthong — Fri, 27 Sep 2024 00:00:00 +0700

The hospitality and tourism sector are constantly evolving, which compels educators to evolve in turn to meet industry needs by ensuring that students are exposed to, a curriculum which equips them with the necessary skills and competencies demanded. This study examines the perception of senior hospitality and tourism students to determine which competencies affect their career adaptability and to assess whether such adaptability will in their view lead to employability after the post-COVID-19. A mixed-methods approach is followed, using a structural model demonstrating that interpersonal skills, conceptual/creative, and technical skills are requirements leading to career adaptability, while the capacity for administrative and leadership skills exerted no influence on adaptability. Importantly, career adaptability significantly affects perceptions of employability. The findings therefore support educators in developing courses and strategies to effectively teach hospitality and tourism students in the post-COVID-19 era.

A Study of Communication Development and Forms of Motorsport Photography in Thailand

Phakawat Rattanaraj — Fri, 27 Sep 2024 00:00:00 +0700

The purpose of this research is to study the history of motorsport photography, and the communication forms of motorsport photography. The research is a qualitative research, collected data by studying from documents, photos, motorsport websites and in-depth interview with 6 people, motorsports news photographers, motorsport photographer, and motorsport news editor. Research instrument consisted of an analysis of communication form in motorsport photographs and in-depth interviews form. Data analysis was done by categorizing and linking data using inductive content analysis techniques. Then, checked the adequacy of data again by using data triangulation and methodological triangulation. The results of the research found that the path of motorsport in Thailand is divided into 4 eras, 1) The beginning of motorsport era 2) Era of raising the standard of motorsport 3) Era of embracing motorsport culture and 4) Era of earning from motorsport. Initially, mass media played an important role in reporting news in print media and magazines. Later, when online media emerged, the platform was changed to websites, Facebook, Fan pages, and social media. Regarding the characteristics of the photographs, it was found that motorsport news photos are the photos that report who, what, where, and how include photos of starting grid, curve, location, cars are neck and neck, panning, finishing line, awards ceremony, service teams, racers, activities. Motorsport photography is any photo in car race that can tell story of the competition include photos of motion, stop motion and emotion. Nowadays, motorsport photography uses artistic concepts and motorsport emotions in photography to create photos which are different from the past. And use the concept of photo essays to tell stories and convey emotions so that the audience can experience the competition even when they are not on the race. The main media channels are the competition organizer's media and mass media. The role of motorsport photography is to provide news, public relations, advertising, and communicate the identity of the competition or local area to promote sports tourism.

A Model Sensory Insurance Company Experience Relationship with Insurance Company Loyalty by Brand Love is Mediator which Has Brand Identity as a Moderator in the Northern Economic Corridor

Phattarapon Ounprechavanit, Rattana Sittiaum, Tummatinna Seesupan — Fri, 27 Sep 2024 00:00:00 +0700

The objectives of this investigation were to 1) assess the correlation between the sensory experience of customers with an insurance business and their loyalty towards the firm. The study also considered the role of brand love and the identity of the insurance company as moderating variables. The analysis was conducted using empirical data collected from the northern economic corridor, 2) to examine the direct and indirect impact of sensory brand experience on customer loyalty in an insurance company, with brand love acting as a mediating variable, and 3) to assess the impact of a moderator variable, specifically brand identity, on the intensity of the association between sensory brand experience and brand love. Furthermore, the moderator variable, referred to as brand identity, has an impact on the intensity of the connection between brand love and customer loyalty. Questionnaires were distributed to insurance clients residing in the northern economic region, specifically Chiang Mai, Chiang Rai, Lamphun, and Lampang. This study was conducted using a sample size of 400 selected using purposive sampling, structural equation modeling and moderator testing were used test the hypotheses. Results show that 1) the relationship between brand love and the insurance company's identity as a moderator variable in the Northern Economic Corridor was consistent with the empirical data, 2) the sensory brand experience had a direct impact on customer loyalty, and an indirect impact through brand love, and 3) brand identity was found to have impacted on brand affection and the impact of brand affection on customer loyalty and brand love.

Analysis of Economic Linkages in Thailand’s Digital Industry

Arnon Kasrisom — Fri, 27 Sep 2024 00:00:00 +0700

This study analyzes the economic linkages in the digital industry in Thailand to identify the relationship between the economic multipliers of the digital industry and other industries. This study aims to discover ways to promote and develop Thailand’s digital industry and encourage the domestic economy to grow in the same direction. The analysis is divided into two parts: economic linkage and economic multiplier, using the Input-Output Table. The new industry sector codes are grouped by size, with 59 out of 180 production sectors being evaluated in 2015. According to the Production Factors and Output Table, digital industry activities have a direct forward linkage with other industrial branches, equating to 0.320, and a direct backward linkage with other industrial branches, equating to 0.926. Regarding the analysis of the overall economic linkage index, digital industry activities have an overall forward linkage index and an overall backward linkage index greater than the average or greater than 1, equating to 5.405 and 5.359, respectively. This means that digital industry activities involve the distribution of output and the use of inputs from other production branches. Moreover, an analysis of the multiplier in the economic system reveals that digital industry activity has an average multiplier of 1.910%. This means that if the digital industry activity value increases by 1%, then the value of the output of all industries in Thailand’s economy will increase by 1.910%.

The findings suggest that various activities exist in the digital industry. These include the manufacture of radio, television, and communications equipment and tools, postal, telegraph, telephone, and communications services, movie production and distribution, movie theater and radio, television, and other related services. The products are distributed as a factor of production, and there is demand for them from various branches of the economy. Therefore, the government should adopt policies and strategies to develop and promote economic branches linked to digital industry activities. Providing government agencies support and promote economic branches correctly, these economies will expand, potentially bringing other related economic branches to expand in the same way, resulting in the efficient growth of Thailand’s economic system. Digital industry is the infrastructure for technological development and innovation in the production processes of all industries.

The Study of the Fruit Wholesale Routes to Enhance Supply Chain Efficiency: A Case Study of Thai Charoen Fruit Wholesale Market

Siriwan Kitchot — Fri, 27 Sep 2024 00:00:00 +0700

Thai Charoen Fruit Wholesale Market located in Phitsanulok province is the most well-known and biggest fruit wholesale market in the Lower North of Thailand. There are many kinds of fruit are distributed from the market to all regions of Thailand. This study aims to explore the route of the main kind of fruit and develop a guideline for efficiency improvement. The data of the market and discussion of the value of fruit showed that there are five main kinds of fruit composed of durian, orange, watermelon, pineapple, and mango respectively thus the five kinds of fruit were focused in the study. The statistics of fruit sources from statistical data from Office of Agricultural Economics and the information from informants were considered for the field area to collect data. The qualitative research was employed, and semi-structured questions were used in the interviews of the informants to collect data from the players in the fruit supply chain. The snowball technique was used to find the target. The total informants were 47 informants who were 36 farmers, 22 collectors/traders, 30 wholesalers, and 12 retailers (several informants play more than 1 role). The number of informants of each fruit depends on the data saturation to find the fruit routes. Content analysis is employed for data analysis. Due to the Thai Charoen Fruit Wholesale Market supporting fresh fruit in the region, the author aims to study and apply SFSC to the fruit routes of the market. Surprisingly, the research results showed that most fruits, especially durian, orange and watermelon differ from the SFSC assumption. The reason behind this is the farmer and middleman could earn more revenue by distribution to far away in other regions. durian is the favorite fruit to export to China by the big middleman. The rest of the fruits in the research were distributed to all regional domestic markets. The route of fruit in the market was found that most kinds of fruit come from the nearby areas and other regions. Moreover, the research result showed that some fruits can be developed to be more value-added as Agro-tourism which can earn more money with the story of fruits and farms. SFSC can applied to these kinds of fruits.

Can SET ESG Ratings Surpass the Benchmarks Before, During, and After the COVID-19 Pandemic?

Lalita Hongratanawong, Wanrapee Banchuenvijit — Fri, 27 Sep 2024 00:00:00 +0700

Sustainability investment has gained significant momentum globally as investors increasingly consider the long-term environmental and social impacts of their investments, especially the climate change that increases business risk. This paper commences by exploring our primary research questions, specifically examining whether SET ESG Ratings exhibit superior performance compared to the benchmark before, during, and after the COVID-19 pandemic. Our findings reveal that prior to the COVID-19 crisis, the SET 50 Index outperformed the ranks, boasting the highest Sharpe Ratio, Sortino Ratio, and Treynor Ratio. However, during the COVID-19 pandemic crisis, post-COVID-19 pandemic crisis, and across the total periods, SET ESG Ratings demonstrated superior performance. In our regression analysis, it was observed that SET ESG ratings consistently demonstrated lower risk when compared to the SET 50 Index across various periods. While SET ESG ratings exhibited higher risk than the SET Index for all periods except the post COVID-19 pandemic, where SET ESG ratings starting to display lower risk than the SET Index. Our findings indicate that investing stocks in SET ESG Ratings has the potential to enhance the risk-adjusted returns of a portfolio compared to its corresponding market benchmark indices including SET 50 and SET indices. Sustainability investments have proven advantageous since the COVID-19 pandemic crisis.

Scale Development of Digital Health Literacy for the Elderly

Sudarat Saengkeaw, Suphanit Chansong — Fri, 27 Sep 2024 00:00:00 +0700

Thailand is now transitioning into an aging society while embracing the digital era. Within this context, the utilization of online platforms emerges as a pivotal determinant shaping the digital health literacy of the elderly populace. However, challenges arise due to potential constraints in the elderly's access to and adeptness with digital technology, thereby impacting the efficacy of healthcare delivery. Recognizing this, researchers underscore the significance of enhancing media literacy among the elderly demographic. This study investigates the factors influencing the elderly's comprehension of online health media while devising a comprehensive digital health literacy measurement scale to facilitate targeted interventions. The research draws upon a sample of 281 individuals. The research employs both Exploratory Factor Analysis (EFA) and Confirmatory Factor Analysis (CFA) methodologies. Through rigorous psychometric examination, the analysis reveals the presence of 17 discernible questions, delineating four distinct factors — Functional, Communicative, Critical, and Translational mirroring — existing scholarship. These findings corroborate prior literature and furnish a foundation for further advancement and individual empowerment within this domain.

Green Marketing Resonance of Thai Consumers

Alisa Sony, David L. Ferguson — Fri, 27 Sep 2024 00:00:00 +0700

The purpose of this paper is to explore and understand Thai consumers’ attitudes and purchase intentions towards various shades of green marketing, alongside their environmental values and subsequent environmental lifestyle behavioral responses. Experimental research, through surveys, was conducted with 206 Thai consumers residing in Bangkok. The findings indicate that a green marketing offer that promotes higher levels of environmental commitment results in more positive attitudinal responses towards the offer and purchase intentions from Thai consumers. Additionally, the human-centered, egoistic values and social-altruistic values serve as the drivers towards environmental lifestyle behaviors. Moderately positive relationships were identified between consumers’ attitudes towards the green marketing offer and their green purchase intentions; between consumers’ environmental values, especially egoistic values, and their green purchase intentions; and between consumers’ environmental values and environmental lifestyle behaviors. In addition, albeit weak, a positive relationship was detected between consumers’ environmental lifestyle behaviors and their green purchase intentions.

Benefits, Challenges, and Key Success Factors of Community-based Tourism Management in Thailand: An Exploratory Study of 3 Destinations in Thailand

Naphat Auksondee, Chonlatis Darawong — Fri, 27 Sep 2024 00:00:00 +0700

This study aims to provide insight into the key factors that contribute to the success of community-based tourism initiatives in Thailand. In-depth interviews were conducted with community leaders in three tourist destinations in Thailand to gather their perspectives on the impacts of tourism on the communities. The results of the interviews revealed that community-based tourism has several benefits, including economic benefits, cultural preservation, environmental protection, social benefits, and educational benefits. This tourism faces two main challenges such as lack of infrastructure and conflict within community. The findings also showed that key success factors emcompassed community involvement, government support, and partnerships with private sector. The implications of these findings for the future development of community-based tourism are discussed.

Service Quality of Car Maintenance and Repair Centers in Thailand: A Comparison between Electric and Internal Combustion Engine Vehicles

Rattapong Lapyen, Chonlatis Darawong — Fri, 27 Sep 2024 00:00:00 +0700

The global push for sustainable and eco-friendly transportation options has intensified the debate between electric vehicles (EVs) and internal combustion engine (ICE) vehicles. Each engine type presents distinct advantages and challenges, influencing consumer choice based on the power source, environmental impact, performance, cost, and infrastructure. This study focuses on Thailand’s car maintenance and repair service industry, exploring how service quality dimensions vary between EVs 102 users and ICEV 259 users and analyzing customer perceptions across different service aspects. This research aims to fill that gap, offering insights into the comparative service quality of EV and ICE vehicle maintenance, and informing stakeholders including service providers, manufacturers, policymakers, and consumers. When comparing these two groups of carusers, the results indicate that EV and ICEV user perceptions of the level of service quality provided by car maintenance and repair centers were statistically different.The implications for car maintenance and repair centers are provided.

Factors Affecting Social Commerce Victimization of a Thai University’s Students

Phichayaporn Jamvitheelert, Kraiwoot Wattanasin, Chartchai Leenawong — Fri, 27 Sep 2024 00:00:00 +0700

This research examines victimization in social commerce among undergraduate students by employing quantitative analytical methods on a survey of 400 participants. The study explores how demographic characteristics, purchasing behaviors including order frequency and value, decision-making factors such as vendor trustworthiness, recognized social value, and awareness of others’ victimization, along with risk perceptions including product feature, financial, psychological, and privacy risks, affect victimization rates and financial consequences. Utilizing both descriptive and inferential statistical techniques, such as Pearson correlation coefficients and multiple regression, the study identifies significant relationships. It reveals that factors like order value significantly impact financial losses, whereas vendor trustworthiness has minimal effect. Additionally, the research employs causal regression-based forecasting to recommend future spending limits based on past victimization experiences, aiming to enhance online financial safety. The findings underscore the urgency of developing targeted educational programs and government-led initiatives to foster safer online behaviors, highlighting the complex nature of social commerce victimization and advocating for comprehensive strategies to mitigate its effects.