This paper aims to examine the effect of corporate governance (CG) and information asymmetry (IA) on firm performance (FP). We applied 3SLS (Three-Stage Least Squares) regressions to examine the relationships among (1) internal CG mechanism and FP, (2) internal CG mechanism and IA, and (3) IA and FP. The data used in this study were obtained from secondary sources such as Bloomberg and SETSMART. The period of data collection was for nine years, from 2014 to 2022, with a sample size of 3,692 firm-year observations of companies listed on the Thailand Stock Exchange. Our study finds that internal CG mechanisms (board size, board independence, dividend policy, and financial leverage) are positively related to firm performance. Secondly, CG mechanisms are positively associated with analyst coverage (and hence inversely related to IA). This finding suggests that internal CG mechanisms augment corporate transparency and reduce agency costs and adverse selections. Thirdly, IA is inversely related to firm performance, ie more transparent firms with greater analyst coverage tend to deliver better firm performance as monitoring costs and adverse selection are reduced. We found that additional analyst coverage is associated with an increase of a firm’s ROE by 0.52% and its ROA by 0.08%. Fourthly, we further conducted an interaction effect analysis of CG and IA on FP and found that IA also significantly moderates the relationship between CG and FP. Practical implications from our study are also discussed.

Globalization of business can have a profound impact on the decision-making processes. The globalization has affected economic and social activities, which in turn was transmitted to disruptions to the economy as a whole, including disruptions to the labor market and a decline in workers' income levels throughout the region. The employment policy is then thought to have an impact on the intention to stay. The purpose of this study is to find empirical evidence of the influence of factors behind intention to stay (desire not to change jobs) among employees in service companies and industry in Indonesia. Data were collected from employees from various types of industries and operating scales online using the Google form. There were 251 employees from various local, national, and international level institutions. Data were analyzed using a quantitative approach utilize path analysis. The study concludes that job crafting and proactive personality significantly influence work engagement and intention to stay of employees in service companies and industry in Indonesia. This research has implications that leaders are recommended to carry out monitoring evaluations to obtain complete information about employee behavior by considering personal and organizational internal and external factors.

Manuscript typeResearch paperResearch aimsWe investigated how corporate governance (CG) affects firm performance (FP) and extends the agency theory by investigating how information asymmetry (IA), proxied by analyst coverage, affects FP in an emerging market.Design/methodology/approach3SLS (Three-Stage Least Squares) regressions were performed on a system of equations based on a panel dataset of 1,768 firm-years of Thai-listed companies from 2014 to 2020 to assess the simultaneous relationships among CG, IA, and FP.Research findingsInternal CG mechanisms (i.e., board size, institutional ownership, and dividend policy) are positively and significantly related to firm performance measured by return on equity (ROE), return on assets (ROA), and price to book ratio/Tobin’s Q (PBR). CG mechanisms are found to reduce IA. Additional analyst coverage was found to increase a firm’s financial performance, ROE by 0.88%, its operational performance, ROA by 0.385%, and its market performance, Tobin’s Q by 0.173 times. Board independence by itself is negatively significant, but interestingly, its interaction effect with analyst coverage is found to be positive and significant on firm performance when measured by ROA.Theoretical contribution/originalityThis study provides further evidence that CG, IA, and FP are simultaneously related and that the interactions between analyst coverage and board independence augment CG and firm performance, particularly via ROA. The impact of agency is significant on firm performance. This study further identifies a ranking of effective CG mechanisms.Practitioner/policy implicationsImprovements in CG channels via board size, institutional ownership, and dividend policy would be associated with greater analyst coverage, which in turn, would provide a monitoring role of the management and reduce principal-agent as well as principal–principal conflicts in addition to adverse selections by stakeholders.Research limitationA seven-year study period may be short to capture a complete business cycle. Survivorship bias is also another limitation of the study.

As a researcher in international business, I find the book India’s Recent Inward Foreign Direct Investment: An Assessment as an illustrious scenario of FDI in the region. The authors are K. S. Chal...

Purpose This paper aims to examine how the dynamic interplay of governance mechanisms of the university-firm R&D alliance reduces obstacles and enables the successful commercialization of research collaboration output. Design/methodology/approach A longitudinal case research and retrospective strategy were used to collect relevant data and information in the four university-and-firm alliance teams collaborating on R&D projects in Thailand during 2008-2014. In-depth interviews and meetings were conducted with representatives of all partners and R&D project teams. Findings The authors found that formal and informal control mechanisms act as complementary forms of governance. The informal control (trust) serves as the frame of intentions whether the formal control is interpreted as a guideline or a commitment. Both formal and informal control mechanisms must be put in place to successfully and sustainably develop collaborative research into a commercial product. Research limitations/implications This study investigated four Thai government-funded research collaboration teams from a single industry. It would be worth investigating such research collaboration in other industries and those without any government funding. Originality/value This study applied an exploratory case research method which is rarely used in research on R&D alliance teams. It generates cross-functional insights on how to build trust in such R&D context, especially in an emerging economy.

The field of cross-cultural leadership has seen a boom in empirical research over the last few decades, yet there are still few large-scale studies that seek explanations for leadership behavior. Earlier research has provided knowledge and awareness about differences and similarities in leadership attitudes, ideals, perceptions and preferences across countries and cultures, but to predict leadership behavior remains difficult. In this chapter, leader’s ‘action intent’ is proposed as a ‘close-to-action’ concept in contrast to the more ‘far-from-action’ concepts used in earlier leadership research. Importantly, for ‘close-to-action’ concepts to be able to provide better predictions these need to provide contextual and situational cues. In our study, carried out in 22 countries, respondents have ranked their preferred action alternative for six specific leadership scenarios. We find inter-country and intra-country variation in action intent for each scenario and meaningful correlations with culturally endorsed leadership ideals. Drawing on our empirical illustration we provide implications from our findings for global leadership. And although there are no simple answers as to how to predict leadership behavior, we posit that using ‘action intent’ as a leadership measure will generate a better understanding and provide stronger predictions of leader behavior globally.

This exploratory study investigates how mentoring is perceived and undertaken by the concerned parties, namely, mentor and protégé, and organizations in the context of Thailand.A qualitative approach using dyadic case studies (of manager and subordinates) was taken to reflect whether mentoring is formally established in Thai business organizations, what benefits are experienced by mentors and mentees (protégés) and how the Thai business organizations can fully benefit from mentoring system. Based on the sample case studies, it is found that mentoring is perceived as teaching and advising how to perform a job well and mainly by one's supervisor. Factors that influence the effectiveness of mentoring system include clear organizational policies, HRM practices (i.e. orientation, training and development, performance appraisal, rewards, etc.), mentoring evaluation, trust and integrity and perceived risk.

PurposeThis paper aims to investigate the relationships among supply chain management (SCM) implementation, human resource management (HRM) practices and small- and medium-sized enterprises (SMEs) firm performance in Thailand It further examines whether HRM practices have a mediating effect on such relationship Design/methodology/approachA survey instrument was developed based on the literature review which then was verified by SCM expert opinions Cross-sectional surveys of sample employees of SMEs in Thailand were undertaken by both direct and mail surveys Of about 779 questionnaires distributed, 203 usable questionnaires were returned Structural equation modeling (SEM) was performed to analyze the obtained data FindingsThe statistical results reveal that SCM indirectly improves firm performance of small- and medium-sized firms through HRM practices The latter, HRM practices, is found to fully mediate the impact of SCM implementation on SME firm performance These results suggest that SCM cannot enhance SME firm performance if its implementation is undertaken without effective HRM practices Originality/valueThis study identified the research gap in SCM areas by recognizing the scarcity of research on SCM in SMEs and by identifying and integrating HRM practices as a significant behavioral support system to SCM implementation in SMEs Its results reveal that HRM practices fully mediates the impact of SCM on SMEs’ firm performance

Purpose This paper aims to identify crisis leadership competencies in the facility management (FM) sector in Thailand. Design/methodology/approach The Delphi technique was used in three rounds of opinion evaluation from 24 Thai FM experts, based on which a large-scale questionnaire survey instrument was developed and administered. Of the 350 questionnaires distributed, 290 usable questionnaires were obtained (82.85 per cent response rate). Factor analysis was used to reveal important leadership competencies for managing facilities in crisis situations. Findings The Delphi technique identified 32 potential FM crisis leadership competencies. Of these, principal component analysis revealed 29 significant competencies. These competencies were grouped, using factor loadings, into five different competencies: emergency preparedness; crisis communication; emotional intelligence; leadership skills; and problem-solving. Emergency preparedness was found to be the most important leadership competency in FM crisis management. Research limitations/implications This study is limited to the experiences of FM experts in Thailand. Its empirical results can help human resource managers to develop appropriate training programs and policies for FM practitioners, as well as to help junior FM practitioners develop competencies essential for leaders in the FM sector. Originality/value This is a novel empirical study of leadership competencies in a growing business sector in Thailand (FM) and possibly other countries in the Asian region. Leaders in FM can benefit from recognizing the leadership competencies that are critical during crisis management.

PurposeThis paper aims to analyze the relationship between organizational culture (measured by mission, involvement, consistency, adaptability and well-being), employee organizational commitment and employee innovation in the Vietnamese IT industry.Design/methodology/approachThis is a quantitative research using perceptual scale questionnaire survey developed based on the literature review and in-depth expert interviews. A total of 319 IT professionals working in Vietnam participated in the survey. The data were analyzed using multiple regression analysis.FindingsThe results suggest that overall organizational culture and organizational commitment are positively and significantly related to employee innovation. A closer look reveals that out of the organizational culture’s five dimensions, mission, adaptability and well-being are found specifically and significantly related to employee innovation.Research limitations/implicationsThe study used a cross-sectional survey where case studies of longitudinal study may add more insight. Further, the Denison organizational culture survey instrument might be subjective. Finally, there may be also some moderating or mediating effects that are not taken into account in this study.Practical implicationsThe enhancement of adaptability, well-being, mission and commitment can increase employee innovation in the IT industry.Originality/valueThis paper contributes to the literature and practice by demonstrating the relationship between corporate culture and organizational commitment on employee innovation in a developing country (i.e. Vietnam).

This exploratory research investigates how firms upgrade their strategic capabilities for superior returns of current markets and enable their entry into a new industry. The study explores how the current successful entrepreneurs build their organisation’s strategic capabilities and achieve their sustained strategic capabilities in today’s rapidly changing environment. As this is an exploratory study, a qualitative approach is used. We first interviewed the expert academicians in strategic management in order to validate and verify our research instrument. We then interviewed the sample successful entrepreneurs in the rubber industry in the South of Thailand on how they developed and adapted their strategies over time to sustain their competitiveness in the relevant product markets. Finally, a case study is used to illustrate how a successful company of latex product export industry became competitive in its new industry entry. This study finds that there is a positive systematic relationship between organisational strategic capabilities, namely resource-based capabilities (RBCs), knowledge-based capabilities (KBCs), network-based capabilities (NBCs), and organisational dynamic strategies. This relationship is linked to the development of a dynamic, process-oriented strategy that seeks to maintain a higher return on investment and to focus on new markets. This study contributes to the theoretical knowledge of strategic management, and its practical implication is that entrepreneurs should focus on developing dynamic capabilities of their firm to cope with the constantly changing environment nowadays.

Purpose The aim of this paper is to investigate the effect of cultural values and cultural adaptability of Chinese expatriates and Thais on organization performance. Design/methodology/approach The designed perceptual scale research instrument adapted from Schwartz’s instrument is used to conduct a questionnaire survey in which 180 sample Chinese expatriates and Thai coworkers participated. Descriptive statistics, factor analysis, and regression analysis were used to analyze the data obtained. Findings The authors found that cultural value variables that are significantly related to productivity are social order, openness, and tradition; while cultural adaptability variables found significantly related to productivity are open-mindedness and judgment. When organization performance is focused on innovation, cultural value variables that are found statistically significant are openness and tradition; while cultural adaptability variables that are significant include open-mindedness and personal values. Finally, when customer satisfaction is the organization performance focus, only one cultural value variable is found to be statistically significant, that is, tradition; while cultural adaptability variables that are significant are personal values and judgment. Practical implications The results of this study can be used to design new approaches and HRM practices (i.e. recruitment and training) to enhance the corporate culture and cooperation among Chinese expatriates and Thai coworkers to maximize organization performance in a new competitive environment. Originality/value This study contributes to the literature on cultural management and cultural adaptability. It empirically investigates the perception of both Chinese and Thais on cultural values influencing the performance of multinational companies. Further, the modified Schwartz’s values survey instrument used in a Thai business operating context makes it a very rare empirical study that provides insight into these issues.

PurposeNotwithstanding the rising magnitude of system factors in patient safety improvement, “human factors” such as idiosyncratic deals (i-deals) which also contribute to the adjustment of system deficiencies should not be neglected. The purpose of this paper is to investigate the role of value-based HR practices in catalyzing i-deals, which then influence clinical error control. The research further examines the moderating role of corporate social responsibility (CSR) on the effect of value-based HR practices on i-deals.Design/methodology/approachThe data were collected from middle-level clinicians from hospitals in the Vietnam context.FindingsThe research results confirmed the effect chain from value-based HR practices through i-deals to clinical error control with CSR as a moderator.Originality/valueThe HRM literature is expanded through enlisting i-deals and clinical error control as the outcomes of HR practices.

Human resource information system (HRIS) has potential benefits to improve organizational performance. The purpose of this exploratory study is thus to investigate the impact of HRIS on organizational effectiveness. The textile industry in Thailand is taken as a context of the study as it faces many challenges in this globalization era. One of the industry's dilemmas is about worker conditions and the scarcity of workforce. A questionnaire survey was conducted during December 2012-March 2013. About 354 questionnaires were mailed to the random sample drawn from the Textile Directory (2006). A total of 63 usable returned questionnaires were obtained. Descriptive statistics were used to analyze the obtained data. The findings reveal that the sample respondents perceived that HRIS has a positive impact on organizational effectiveness with respect to human resource processes, time savings, cost savings, information effects, decision making and strategic impact of HR role.

Human resource information system (HRIS) has potential benefits to improve organizational performance. The purpose of this exploratory study is thus to investigate the impact of HRIS on organizational effectiveness. The textile industry in Thailand is taken as a context of the study as it faces many challenges in this globalization era. One of the industry's dilemmas is about worker conditions and the scarcity of workforce. A questionnaire survey was conducted during December 2012-March 2013. About 354 questionnaires were mailed to the random sample drawn from the Textile Directory (2006). A total of 63 usable returned questionnaires were obtained. Descriptive statistics were used to analyze the obtained data. The findings reveal that the sample respondents perceived that HRIS has a positive impact on organizational effectiveness with respect to human resource processes, time savings, cost savings, information effects, decision making and strategic impact of HR role.

The development innovative capability of small and medium-sized enterprises (SMEs) is a competitive tool that is crucial to the success of entrepreneurs. It is also the expectations of the country as a key role for creating economic growth in the country. Therefore, to be the basis for entrepreneurs development capabilities by using the innovative capability, the authors have studied the literature on the concept and analysis of the network-based capability, which is the ability to develop innovation, divided into two subthemes: 1) the resources-based capability, and 2) the knowledge-based capability. As a result, innovative ability developments of entrepreneurs in small and medium-sized enterprises have to focus on the key factors in the organization which is the capabilities and resources of the organization. In addition, these internal factors have to consistently link with external factors comprising the support from the government or an agency such as a business incubator university, and the effective response to social, economic, legal and competitive changes. ความสามารถดานเครอขายและความสามารถเชงนวตกรรม ของวสาหกจขนาดกลางและขนาดยอม การพฒนาความสามารถเชงนวตกรรมของวสาหกจขนาดกลางและขนาดยอม นบวาเปนเครองมอทางการแขงขนทม ความสำคญอยางยงตอความสำเรจของผประกอบการธรกจ อกทงยงเปนความคาดหวงของประเทศในบทบาทการเปนกลไกหลกในการสรางความกาวหนาทางเศรษฐกจระดบประเทศ ดงนน เพอเปนพนฐานในการพฒนาองคการโดยใชรปแบบความสามารถขององคการทเปนความสามารถเชงนวตกรรม ผเขยนไดทำการศกษาวรรณกรรมเกยวกบแนวคดและการวเคราะหของความสามารถดานเครอขาย ซงเปนทมาของการพฒนาความสามารถเชงนวตกรรม โดยแบงเปน 2 ประเดนยอย คอ 1) ความสามารถดานทรพยากร และ 2) ความสามารถเชงความร จากการศกษาสรปไดวา การพฒนาความสามารถเชงนวตกรรมของผประกอบการวสาหกจขนาดกลางและขนาดยอม ตองมงเนนการใหความสำคญกบปจจยภายในองคการ คอความสามารถและทรพยากรขององคการทสามารถเชอมโยงอยางสอดคลองกบปจจยภายนอกทประกอบไปดวยการสนบสนนจากภาครฐ หรอหนวยงานทเปนศนยบมเพาะวสาหกจของมหาวทยาลย และการตอบสนองของการเปลยนแปลงทางสงคม เศรษฐกจ กฎหมาย และการแขงขนไดอยางมประสทธภาพ