WMS Journal of Management https://www.tci-thaijo.org/index.php/wms <p><strong>WMS Journal of Management</strong> is a peer-reviewed journal of Walailak University. The published articles cover multidisciplinary research, Business, Accountancy, Tourism and Economics. The journal is indexed in TCI Tier 1.</p> <p>Four issues are published a year (January-March, April-June, July-September and October-December).</p> <p>Online ISSN&nbsp; 2286-718X</p> en-US wmsjournal@hotmail.com (Chuleerat Kongruang) nhussen@wu.ac.th (Hussen Niyomdecha) Tue, 30 Jul 2019 10:40:57 +0700 OJS 3.1.0.1 http://blogs.law.harvard.edu/tech/rss 60 Cover and Contents https://www.tci-thaijo.org/index.php/wms/article/view/206304 กองบรรณาธิการ วารสารการจัดการ ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206304 Tue, 30 Jul 2019 10:39:47 +0700 Exploratory and confirmatory factor analysis of measurement scale for psychological attachment to an organization https://www.tci-thaijo.org/index.php/wms/article/view/206311 <p>This purpose of this study is to investigate the factor structure of the psychological attachment to an organization (PAO) in the Australian Public Service (APS). Data were analyzed using exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). Results revealed eight items with two-factor structure of the measurement scale were retained. This study also provides a reliable measurement scale to measure psychological attachment to an organization in the public sector. The two factors extracted to characterize psychological attachment to an organization were organizational trust and organizational identification, both of which contribute to a stabilizing force that connects individuals with organizations. The motivational context of the public sector differs from the private sector due to the absence of the traditional rewards available in the private sector (e.g., bonuses, performance-based pay, and employee stock options), and as such organizational trust and identification are significant components of psychological attachment to an organization of employees in public sectors. As a result, governments can benefit from public servants who have developed a close association with their organizations.This purpose of this study is to investigate the factor structure of the psychological attachment to an organization (PAO) in the Australian Public Service (APS). Data were analyzed using exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). Results revealed eight items with two-factor structure of the measurement scale were retained. This study also provides a reliable measurement scale to measure psychological attachment to an organization in the public sector. The two factors extracted to characterize psychological attachment to an organization were organizational trust and organizational identification, both of which contribute to a stabilizing force that connects individuals with organizations. The motivational context of the public sector differs from the private sector due to the absence of the traditional rewards available in the private sector (e.g., bonuses, performance-based pay, and employee stock options), and as such organizational trust and identification are significant components of psychological attachment to an organization of employees in public sectors. As a result, governments can benefit from public servants who have developed a close association with their organizations.</p> Warit Wipulanusat, Nakhon Kokkaew, Piya Parnphumeesup, Jirapon Sunkpho ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206311 Tue, 30 Jul 2019 11:17:21 +0700 Determinants of Mutual Fund Growth in ASEAN CIS https://www.tci-thaijo.org/index.php/wms/article/view/206331 <p>This study aims to investigate the factors determining growth of mutual fund industries under the ASEAN Collective Investment Scheme (ASEAN CIS) which are Thailand, Singapore, and Malaysia. The time-series data between 2011 and 2015 are employed to analyze both full and individual samples through regression analysis. From the empirical results of full sample consisting of three countries, inflation rate, stock market capitalization, and money supply are positively significant with mutual fund growth while opposite direction has been found with exchange rate. Further investigation of individual country, GDP is significant variable in Singapore mutual fund industry. When GDP increases, Singapore mutual funds grows. On the other hand, gold price is negatively related to mutual fund growth in Singapore and Malaysia while crude oil price is negatively related to Thai mutual fund growth but shows positive effect in Malaysia.</p> Buncha Seehavong, Pariyada Sukcharoensin ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206331 Tue, 30 Jul 2019 11:42:54 +0700 The Moderating Role of Type of Audit Firm on the Relationship between Good Corporate Governance and Audit Report Lag of Companies Listed on The Stock Exchange of Thailand https://www.tci-thaijo.org/index.php/wms/article/view/206428 <p>The purpose of this research was to examine the moderating effect of audit firm type on the relationship between good corporate governance (CG) and audit report lag. The 2,121 data was collected from the annual reports of companies listed on The Stock Exchange of Thailand between 2012 and 2016. This study included independent variables relating to CG characteristics consisted of 1) board committee characteristics including size, independence, duality, and number of meetings, 2) audit committee characteristics including size, financial or accounting expertise, number of meetings, and 3) disclosure and transparency. Moreover, this study used type of audit firm (Big 4 and Non-Big 4) as a moderating variable. A multiple regression analysis indicated that BIG 4 audit firms strengthened the negative relationship between board size and audit report lag, compared to Non-Big 4 audit firms.</p> Phasuk Nithibandanseree, Erboon Ekasingh, Naruanard Saraphaiwanich ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206428 Tue, 30 Jul 2019 15:20:25 +0700 Celebrity’s Marketing Public Relations Planning of Luxury Brandname on Instagram https://www.tci-thaijo.org/index.php/wms/article/view/206454 <p>The objective of this research was to study celebrities marketing public relations planning of luxury brand name on Instagram.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The research found that marketing public relations of luxury brand name on celebrities Instagram and magazine on Instagram policy would be determined by headquarter in France. Then the policy could be adapted to the context of Thailand by luxury brand name companies through Thai celebrities who are Friend of the Brand on Instagram. Moreover, the luxury brand name companies have the criteria for selection of celebrity endorsement based on personality and brand image creation. Friend of the Brand have a commitment with the company to post their pictures on Instagram. Later on, the brand receiver prospects could get brand awareness and create a positive image. These were all purposes in marketing public relations of luxury brand name.</p> Purada Prasertsri, Wanawan Doherty ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206454 Tue, 30 Jul 2019 16:05:34 +0700 Asymmetric Responses of Volatility to Market Changes and Volatility Smile of Options in Thailand Futures Exchange https://www.tci-thaijo.org/index.php/wms/article/view/206458 <p>This paper studied the asymmetric responses of volatility to market changes and the volatility smile of options in the Thailand Future Exchange (TFEX) by studying the relationship between realized volatility and implied volatility of SET50 Index Option. Furthermore, this paper studied the patterns of volatility surface in each moneyness of options. The results found the volatility smiles indicating that implied volatility of in-the-money call option showed upward trend. On the contrary, implied volatility of out-of-the-money call option showed less tentative compare with in-the-money option, due to downward slope characteristic. Furthermore, volatility surface for each moneyness has different shape depended on its response of implied volatility to moneyness and to time to maturity.</p> Chanidapa Bungswang, Ravi Lonkani, Woraphot Khunaprasit ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206458 Tue, 30 Jul 2019 16:16:20 +0700 Wicker Enterprises in Phrae Province: Knowledge and Network’s Management for Sustainable Development https://www.tci-thaijo.org/index.php/wms/article/view/206462 <p>The purpose of this research are as follow; 1) to study current conditions and problems of Wicker Enterprises in Phrae Province. 2) to study stock of knowledge and participation of&nbsp; Network’s Management&nbsp; for Sustainable Development 3) to analyze the relationship and the success of network management on community enterprises for sustainable development. 4) to propose the findings and network management systems affecting the sustainable development of Wicker Enterprises in Phrae Province. Key informants include: Government agencies, Chairman of Wicker Enterprises group and representatives of Wicker Enterprises Group, to tally 24 people. Data collection was done by documents study, Interviews and focus groups. The analysis of data was performed by focusing on main issues and divided into sub-themes.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The research found that 1) 65 registered wicker enterprises aimed in the community to promote the development of stock of knowledge and local wisdom, generating income and helping each other. The activities were performed under the planning of the members, think together, do together, troubleshooting, creating a community economy were mobilize by using local knowledge Wisdom and Culture and resources available in the community Supported by local organizations and the network of related parties at all levels. The problem found are the following ; the discontinuity of activities due to money does not match with the activities of the group as well as lack of needed information. 2) Knowledge that results in network management Including the development of products or processed products, distribution and network management. 3) The success of the group and relationship of members depend on the participation of people in the group and with external organization. 4) Knowledge and network management system play an important role to the sustainable development as of follow; (1) Development and management organizations &nbsp;2) Group Product Development 3) Activity development and the learning process of the group members. &nbsp;&nbsp;4) Market development. 5) Coordination with other external organizations.</p> Chonthicha Jirapakapong, Chaweewan Suwannapha, Punyavee Mongkonpiputporn, Patnaree Attawong ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206462 Tue, 30 Jul 2019 16:39:12 +0700 Multivariate Ordered Probit Copula Analyzing Tourists’ Satisfaction of Religious and Cultural in Buddhist Temples in Chiang Mai by Multivariate Ordered Probit Copula Model https://www.tci-thaijo.org/index.php/wms/article/view/206469 <p>This paper aims to analyze tourists’ satisfaction of religious and cultural in Buddhist temples in Chiang Mai based on Multivariate Ordered Probit Copula model. We selected five temples with a distinctive religion and important monastery of Chiang Mai includes Wat Phra Sing, Wat Chedi Luang, Wat Phrathat Doi Suthep and Wat Jed Yod. The data of this study were collected from 400 tourists who ever visited all of four temples by using questionnaires. The results reveal that there are five variables that affect to the satisfaction tourists; the potential for attracting tourists, the potential to support tourism, management for tourism, personnel management and marketing strategy for tourism. However, we find that the management for tourism is the most important variable for all of these temples that increase tourists’ satisfaction. All of these results would be important information for developing the strengths and improving the weaknesses in each temple. In addition, the government, the private sector and local people realize to the importance of tourism for conserve, adjust and develop to be better.</p> Nachatchapong Kaewsompong, Jirakom Sirisrisakulchai ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206469 Tue, 30 Jul 2019 16:48:00 +0700 An Analysis of Factors in Logistics Management Influencing Business Value of Swiftlet Nest Entrepreneurs in Krabi Province Analysis https://www.tci-thaijo.org/index.php/wms/article/view/206471 <p>The purpose of this research was to investigate factors in Logistics Management that influenced the business value of swiftlet nest entrepreneurs in Krabi Province.To collect data, questionnaires were distributed to 148 swiftlet nest entrepreneurs. Statistics for data analysis was descriptive statistics and multiple regression analysis which was used to test the relations among the variables. The findings show that</p> <p>Regarding to logistics activities, swiftlet nest entrepreneurs placed importance on waste disposal. Transportation and packaging were ranked as the second place. With respect to the business value, productivity increasing and sustainable entrepreneurship were the first priority. Moreover, it was found that four independent variables namely packaging, order processing, customers’ demand forecasting and purchasing positively affected the business value. On the other hand, two independent variables namely transportation and inventory management negatively affected the business value at a significance level of 0.05.</p> Puden Kaewpibal, Ketkuda Kotikul ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206471 Tue, 30 Jul 2019 16:59:15 +0700 The Development of Innovation Building Proposed Conceptual Model to Reinforce Competitive Advantage in Small and Medium Size Enterprises in Thailand https://www.tci-thaijo.org/index.php/wms/article/view/206474 <p>A small business like small and medium-sized enterprises (SMEs) play an important role to the economic development of the country. To make small businesses as an advantage in the competition, the resources and capabilities are required more than their competitors. The purpose of this article is to develop a model to build competitiveness of businesses, under the resource base view theory and the use of Colins and Montgomery’s concept. The results of the literature review show the relationship between intellectual capital, innovation and the performance of organizations. Small business can use this model to make the competitive advantage for its firm.</p> Wee Poungperksuk, Preeda Srinaruewan ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206474 Tue, 30 Jul 2019 17:13:19 +0700 Multiplicity of Approaching to Service Quality Development https://www.tci-thaijo.org/index.php/wms/article/view/206480 <p>It is irrefutable that the majority of customer, unsatisfied customer is a negative experience with or without complaining, this paper proposes a definition of service quality, with the several service recovery approaching. The premise of this paper is that each service recovery approaching should have service quality development criteria that specifically fit its service model, customer expectation and customer experience. To implement this context, it is argued that an entrepreneur should be able to comprehend customer insights, there are 5 types of customer-service provider relationship relied on interaction between customer involvements and service providing. Empowered employee delegating is one approaching to empowered customer for service quality development. Furthermore, it embraced with various types of creative service innovation are creative workplace for innovation, impressed experiences, and integrated service tasks. Last but not least, to proactively compete in service industry, implications for developing service quality that promises to capture customer are given.</p> Muenjit Jitsoonthornchaikul ##submission.copyrightStatement## https://www.tci-thaijo.org/index.php/wms/article/view/206480 Tue, 30 Jul 2019 17:21:44 +0700