ABAC Journal

Editorial

2025-12-30T03:09:44+00:00

Mapping Research Trends in Tourism, Marketing, and Business Management: A Bibliometric Analysis and Field Review with ABAC Journal’s Position

2025-09-05T15:34:04+00:00

This study aims to analyze research trends and thematic developments in the field of tourism, marketing, and business management, from 2021 to 2024, and to evaluate the ABAC Journal’s thematic alignment and research positioning within these fields using global trends as a benchmark. A bibliometric analysis of 365,942 Scopus-indexed publications was conducted using keyword co-occurrence mapping and Louvain clustering, with cosine similarity applied to refine thematic classification. A total of 297 articles were selected for qualitative interpretation to deepen content understanding. The results reveal four widely shared research directions across the three fields, including (1) Sustainability, (2) Psychology and Behavior, (3) AI, Digital Strategy, and Customer Experience, and (4) COVID-19 and Risk Management. In addition, each field features a unique thematic area: Leisure, Well-being, and Social Dynamics in tourism; Brand Equity, Consumer Trust, and Digital Engagement in marketing; and Governance, Public Policy, and Institutional Development in business management. The ABAC Journal, while highlighting a practical focus especially within Southeast Asia, contributes across all thematic areas in tourism, marketing, and business management. It demonstrates strong proportions and citation performance in Psychology and Behavior, particularly in marketing and tourism. Although topics related to AI, Digital Strategy, and Customer Experience, as well as Sustainability in marketing, receive high citation impact, they remain underrepresented by volume. By comparison, engagement with Sustainability, especially in tourism, appears disproportionately high relative to its citation impact. The overall findings of this study suggest that the ABAC Journal, along with other journals of similar scope, should strengthen engagement with emerging areas such as digital innovation, AI applications, and customer experience, while continuing to prioritize sustainability-related themes as an enduring focus in contemporary research.

Dividend Taxes and Corporate Investment: A Bibliometric Analysis

2024-11-25T09:30:57+00:00

Various studies have debated how changes in dividend tax rate affect investment decisions. While some argue that dividend tax policies impact investment decisions, others have suggested that these taxes have no relevant influence on such decisions. This study examines how researchers from various countries investigate the relationship between dividend tax policies and investment decisions. Utilizing a bibliometric analysis approach, this study explores research trends in the area of dividend tax policies and investment decisions. Data were sourced from the Scopus database and analyzed using Bibliometrix R-package (Biblioshiny) tools and VOSviewer. The study aims to provide insights into publication trends, countries involved in research in this field, the most relevant journals, the most productive researchers, and recent and future theme trends. By doing so, this study offers a more complete overview of research developments on dividend tax policies and investment, and highlights potential directions for future research.

Quantitative Easing and the New Monetary Trinity: Systematic Reviews Analysis

2025-10-20T17:58:21+00:00

Amid the global financial crisis caused by the COVID-19 pandemic, central banks in many countries implemented quantitative easing (QE) by purchasing government bonds and other securities to stabilize macroeconomic conditions. In addition to inflation control, financial stability has become a critical policy objective. This study explores the transformation from the “impossible trinity” to the “new monetary trinity,” which redefines the balance between exchange rate stability, financial openness, and monetary independence. Employing a Systematic Literature Review (SLR) combined with bibliometric analysis, 146 publications from ScienceDirect and Scopus (2020 to 2023) were examined using VOSviewer and Microsoft Excel. The findings reveal distinct methodological preferences. Dynamic Stochastic General Equilibrium (DSGE) models were found to be dominant in advanced economies, while Vector Autoregression (VAR), Autoregressive Distributed Lag (ARDL), and Vector Error Correction Models (VECM) have been more commonly applied in emerging markets. Evidence indicates that quantitative easing plays a significant role in managing capital flows, stabilizing exchange rates, and maintaining policy autonomy. However, trade-offs still exist, particularly in small open economies. This study offers structured insights into the effectiveness of quantitative easing within the framework of the new monetary trinity during a global crisis and contributes to the literature by systematically mapping how quantitative easing interacts with the evolving trilemma framework, providing context-specific lessons for post-crisis monetary strategy.

Driving Financial Inclusion: The Role of Financial Development and Financial Technology in G20 Economies

2025-03-09T01:24:45+00:00

This study aimed to examine the influence of financial development and financial technology (fintech) on financial inclusion in G20 member countries. The study explored how traditional financial instruments, such as credit cards, debit cards, and ATMs, as well as fintech services, contribute to improving access to formal financial services. Additionally, the study analyzed the impact of economic conditions, particularly inflation, on cashless transactions, as an indicator of financial inclusion. Using a multi-year panel dataset covering G20 economies from 2012 to 2023, the research applied panel-data regression models with country and year fixed effects, controlling for macroeconomic variables such as inflation, market capitalization, and bank branch density. The results revealed that the use of credit cards and electronic payments is positively associated with enhanced financial inclusion. Conversely, the number of ATMs shows a significant negative effect, indicating that the availability of traditional banking infrastructure encourages the continued use of cash, thereby hindering the adoption of cashless transactions. On the other hand, fintech, including e-money accounts, is found to have a highly significant influence on increasing cashless transactions, highlighting the critical role of financial technology in expanding access to formal financial systems. Furthermore, inflation has a significantly negative impact on financial inclusion, as high inflation reduces purchasing power and diminishes trust in formal financial systems. These findings underscore the importance of supporting fintech, reducing reliance on physical banking infrastructure, and maintaining stable macroeconomic policies to promote financial inclusion in G20 member countries. This study provides clear policy implications regarding the necessity of advancing digital financial services to achieve broader financial inclusion.

Relationship between Household Debt and Income Inequality: TVP-VAR Approach

2025-02-25T13:37:43+00:00

This study examines the connection between household debt and income disparity in Thailand, emphasizing the dynamic interaction between these two variables. The study utilizes annual data from 1980 to 2022, a period marked by significant structural changes in the economy. To address these changes, the study implements the Time-Varying Parameter Vector Autoregression (TVP-VAR) estimation method, which is well-suited for capturing dynamic structural shifts. After estimating the model, coefficients were used to generate the impulse response function. The results of the study indicate that a one standard deviation shock in income inequality, as measured by the Gini coefficient, results in a reduction in the household debt-to-GDP ratio across the short, medium, and long term, with the impact being most pronounced in the short term and diminishing over time. Furthermore, the study examines how a shock to income inequality influences consumption patterns. An increase in the Gini coefficient initially leads to a rise in short-term consumption, but this effect reverses in the medium and long term, when consumption declines. The study also explores the impact of household debt shock on consumption. The results indicate that an increase in the debt-to-GDP ratio is associated with a rise in short-term consumption, while in the medium and long term, consumption decreases. These findings highlight the complex and varying impacts of income inequality and household debt on economic indicators over different time horizons, emphasizing the importance of accounting for dynamic structural changes in economic analysis.

Effects of Taxpayer Code of Ethics and Tax Sanctions on Tax Morale and Voluntary Tax Compliance of Listed Companies on The Stock Exchange of Thailand

2024-07-04T10:02:29+00:00

This research aimed (1) to analyze the effect of the taxpayer code of ethics and tax sanctions on the voluntary tax compliance of listed companies in the Stock Exchange of Thailand; (2) to analyze the effect of the taxpayer code of ethics and tax sanctions, mediated by tax morality, on the voluntary tax compliance of listed companies in the Stock Exchange of Thailand; and (3) to compare the general information of respondents in relation to opinions on taxpayer code of ethics and tax sanctions. This study employed a quantitative research design. Data were collected via questionnaire from 380 Chief Financial Officers (CFO) of listed companies in the Stock Exchange of Thailand. Hierarchical random sampling was used in order to select the sample. The collected data were analyzed using a structural equation model. The findings of the study indicated the following: 1) taxpayer code of ethics and tax sanctions have direct and indirect positive influences on voluntary tax compliance; 2) the willingness to pay taxes varies across industry groups, suggesting different perceptions of taxpayer code of ethics and tax sanctions; and 3) factors such as gender, age, level of education, and work experience, do not significantly influence opinions on taxpayer code of ethics or tax sanctions.

The Causal Structure of Factors Affecting the Intention to Comply with Corporate Income Tax Laws of Accounting Firm

2025-12-28T17:25:57+00:00

This research aimed to 1) analyze the causal structure explaining the affects of legal incentives, facilitation from officials, and the business environment on the corporate income tax compliance intentions of accounting firms; 2) analyze how this causal structure is affected by accounting firms’ attitudes toward tax as a mediating factor; and 3) develop tax measures and technological tools to assess the risk associated with tax payment in accounting firms in Thailand, thereby supporting the encouragement of compliance with corporate income tax regulations. A quantitative research methodology was employed, collecting data via 400 questionnaires. Data were analyzed using structural equation modeling. In addition, qualitative research was conducted through in-depth interviews with six participants to validate the quantitative findings. Results indicated that legal incentives, facilitation from officials, the business environment, and accounting firms’ attitudes toward tax all had significant effects on intentions to comply with corporate income tax regulations among accounting firms at the 0.05 and 0.01 statistical levels. The qualitative findings were consistent with the quantitative results. Based on these findings, six tax measures and suggestions for the use of technology for assessing tax payment risk were developed to promote compliance among accounting firms and entrepreneurs.

Market Efficiency and Technical Trading: An Empirical Study of MACD and RSI Indicators in Major Asian Stock Indices

2024-08-12T05:42:17+00:00

This study evaluates the effectiveness of the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators in generating profitable trading strategies across ten major Asian stock markets from 2013 to 2023. Despite the Efficient Market Hypothesis (EMH) suggesting that technical analysis is ineffective due to all available information being reflected in asset prices, these indicators remain popular, especially in markets perceived as less efficient. We compare returns from four trading rules—MACD crosses zero, MACD crosses the signal line, RSI crosses the midline, and RSI enters oversold/overbought regions—against a buy-and-hold strategy. The results show that, in most Asian markets, MACD and RSI do not significantly outperform buy-and-hold, supporting weak-form market efficiency. However, the Singapore Exchange exhibits notable outperformance, particularly under MACD and RSI rules involving signal line crossings and extreme RSI levels. Even after optimizing trading rule parameters, these strategies rarely outperform buy-and-hold, with limited success in markets such as Hong Kong, Shenzhen, Shanghai, and Thailand. These findings suggest that while technical analysis may offer advantages in specific contexts, its overall effectiveness is constrained, particularly in more efficient markets. This research contributes to the debate on the viability of technical analysis and highlights the importance of market-specific considerations in applying trading strategies.

How R&D Premium, Market Power, and State Ownership Affected Stock Returns Before and During the Covid-19 Pandemic: Evidence from Vietnam

2024-08-14T09:56:12+00:00

This study extends the growing literature on the innovation puzzle by investigating how innovation, market power, and state ownership, influence stock returns in Vietnam. Using Fama–MacBeth regressions and the Carhart four-factor model augmented with R&D intensity, we analyzed a dataset of 31,930 firm-month observations from 2010 to 2021. After controlling for market power and firm characteristics, the results show that a one percent increase in R&D intensity is associated with a 0.577% rise in monthly stock returns. For firms with the most significant market power, the same increase in R&D intensity yields an additional 1.75% return. Among state-owned enterprises (SOEs), the return enhancement is 0.512%. Portfolio-level analysis reveals a robust R&D premium, especially under equal-weighted, though this effect disappears during Covid-19, suggesting sensitivity to market-wide stress. These findings offer empirical support for the competitive advantage and institutional theories, highlighting the strategic value of R&D investment. The study provides practical implications for corporate managers and policymakers aiming to promote innovation-driven performance in emerging markets.

Improving Credit Decision Through Machine Learning and Alternative Data: Evidence from NBFIS

2025-09-17T14:44:08+00:00

Non-banking financial institutions (NBFIs) often struggle to make accurate credit decisions, especially for customers with insufficient traditional credit histories. Conventional models, such as logistic regression, primarily depend on credit bureau data and fail to capture the full credit potential of underserved populations—thereby hindering business expansion and financial inclusion. This study investigates how NBFIs can enhance credit decision-making by applying advanced machine learning techniques—namely XGBoost and neural networks—alongside alternative data sources, including mobile phone usage patterns, utility bill payments, and social media activity. Utilizing a real-world dataset of over 300,000 individuals, the findings demonstrate that machine learning models significantly outperform traditional approaches, particularly when alternative data is incorporated. These improvements lead to more precise risk classification, enabling institutions to reduce default rates, expand lending to previously overlooked borrowers, and improve portfolio profitability. In addition, the study addresses critical ethical and privacy considerations surrounding alternative data use. The results provide actionable insights for NBFIs aiming to adopt data-driven credit strategies that balance predictive power with responsible data governance—ultimately enhancing credit operations and promoting inclusive growth.

Integrating Fraud Deterrence Propeller and Continuous Auditing for Enhanced Fraud Detection and Sustainability

2025-10-31T13:17:23+00:00

This study examines the implementation of the Fraud Deterrence Propeller (FDP) web-based application and continuous auditing (CA) in strengthening fraud detection and deterrence at PT. Kembang Christapharma & Group. Fraud remains a critical risk in Indonesia, leading to significant financial and reputational losses. Using an experimental design, this research integrates the FDP framework with the Beneish-M Score to assess financial reporting anomalies. Quantitative results show a strong correlation between the maturity of fraud deterrence and the effectiveness of fraud detection. Regression analysis confirms that both fraud deterrence maturity and CA significantly predict fraud detection outcomes. The analysis of financial reports indicates that the Beneish-M Score primarily detects earnings management, which, while not always fraud, signals irregularities that require audit follow-up. Qualitative findings highlight improved fraud awareness, stronger internal controls, and enhanced real-time monitoring. This study contributes to the literature by combining FDP and CA into a single framework, offering practical tools for fraud deterrence and sustainable development.

The Role of Female Committees on Audit Quality of Companies Listed in The Thailand Market

2025-11-18T07:45:43+00:00

The role of a board of directors is a key mechanism in corporate governance, influencing both the quality of financial statements and audit quality. Prior studies in many countries, have found that female board members play a crucial role in management, contributing to improved audit quality. However, research on the impact of female board members on audit quality remains limited in the context of an advanced emerging economy such as the Thai market. This study investigated the relationship between female board membership and audit quality among listed companies from the Stock Exchange of Thailand (SET). Specifically, the study examines the role of female membership at two levels, specifically the subcommittee (i.e., audit committee) and main committee (i.e., board of directors) level. Discretionary accruals, as measured by the Modified Jones Model (1995), were employed as a proxy for audit quality, while audit fees and audit firm size were also included as additional measures of audit quality. The findings, however, were inconclusive. One possible explanation is the relatively low percentage of female members compared to their male counterparts. Additionally, companies may appoint female board members primarily to meet regulatory requirements or diversity standards, rather than due to recognition of their practical roles and genuine contributions within the organization.

Corporate Governance, Capital Investments, Profitability and Firm Value: A Case Study of Thailand During the Covid-19 Pandemic

2025-09-15T13:38:23+00:00

This study investigates the moderating effect of corporate governance on the negative impact of the COVID-19 pandemic on profitability and firm valuation in Thailand. Similar to previous studies, it is documented that COVID-19 negatively affects both firm profitability and firm value. The results, based on ordinary least squares (OLS) regression analysis, show that capital investments were able to mitigate the adverse effects of the COVID-19 pandemic on firm profitability. In contrast, capital investments worsen the negative impact of COVID-19 on firm value, as measured by Tobin’s q. For companies with good quality of corporate governance practices, however, capital investments show a positive relationship with firm value during the pandemic. These results highlight the benefits of good corporate governance during an economic crisis in an emerging market.

Environmental Social Governance Score Influence on Financial Performance Amidst Indonesia-Malaysia-Thailand Growth Triangle Listed Companies

2025-10-31T03:37:18+00:00

Environmental, Social, and Governance (ESG) scores have been widely explored regarding their role on firm performance, yet few studies have examined their significance from a regional perspective. This research addresses this gap by analyzing the comprehensive impact of ESG scores within Indonesia, Malaysia, and Thailand. Guided by stakeholder-agency theory, which posits that higher ESG scores lead to improved firm performance, the study employs secondary data, including ESG scores from S&P Capital IQ Pro and firm performance measured by return on assets (ROA). Using a quantitative approach, the findings reveal that average ESG scores vary across the observations, with Thailand scoring highest (40.698), followed by Malaysia (25.032), and Indonesia (20.984). The results indicate a significant positive relationship between ESG scores and firm performance. Moreover, business risk, firm size, and growth rate, are found to exert a strong influence on firm performance, further emphasizing the importance of firm-specific characteristics alongside ESG practices in shaping corporate outcomes.

Market Valuation Effects and Investor Perceptions of Connected Transactions: An Empirical Analysis from The Stock Exchange of Thailand

2025-12-29T02:56:21+00:00

This study investigated the market reactions to connected transaction announcements in the Stock Exchange of Thailand (SET) and examined investor perceptions of wealth expropriation from minority shareholders within business groups. The event study methodology was used to analyze cumulative abnormal returns for all connected transactions announced by SET-listed firms from 2014 to 2019. The sample was further divided into two subgroups based on the majority stockholder’s cash-flow rights in the listed firm compared with those of the connected party. To assess statistically significant differences in market responses between these subgroups, Propensity Score Matching (PSM) was employed. The results showed positive market reactions to announcements in the days preceding formal disclosure—potentially due to information leakage or anticipatory trading—but provided no evidence of a sustained positive reaction following the announcement date (day 0). Specifically, transactions involving firms with high cash-flow-rights, generated negative abnormal returns after the announcement, suggesting that the overall market response was not uniformly favorable. Investors appear to perceive these transactions as potential channels for wealth expropriation (“propping”) rather than unequivocally value-enhancing events, a view confirmed by the PSM analysis. This study contributes to understanding how markets respond to connected transactions and highlights implications for wealth transfer within business groups. The findings have practical significance for companies engaging in connected transactions and for investors seeking to incorporate propping risk in portfolio and risk management.

A Comparative Study of Capital Structure and Firm Value: Pre- and Post-COVID-19 Pandemic Among Listed Companies on the Stock Exchange of Thailand

2025-12-29T03:38:18+00:00

This study considers the relationship between capital structure and firm value among Thai listed firms, comparing this relationship across three time phases—pre-COVID-19 (2018–2019), during COVID-19 (2020–2021), and post-COVID-19 (2022–2023). Using firm-level accounting and market data from the Stock Exchange of Thailand (SET) (n=423), the study estimates period-specific regressions that link leverage to standard determinants and assess the leverage value association (Tobin’s Q). The results reveal a crisis-phase decoupling: the positive association between leverage and firm value observed before the pandemic disappears during the pandemic and re-emerges afterward. Determinants of leverage also shift across phases: higher operating cash flow is consistently associated with lower leverage, tax-related incentives are effective mainly in normal times, and the roles of asset tangibility and liquidity invert in the Thai context when market conditions tighten. These findings highlight the context-specific nature of financing decisions in emerging markets and clarify why leverage can alternately amplify or dampen firm value across macroeconomic regimes. The study contributes comparative evidence for a three-phase COVID framework and underscores practical levers, particularly liquidity backstops and calibrated tax instruments that can help firms sustain investment and employment during downturns while discouraging excessive debt during recovery. SET firms have overcome COVID-19, serving as a positive signal for both domestic investors and foreign investors.

Moderated Moderation Effects of Debt and Firm Size on Cash Holdings and Dividend Payouts

2025-12-29T03:19:31+00:00

This study contributes new insights into dividend policy by investigating how debt levels and firm size moderate the relationship between cash holdings and dividend payouts. Grounded in the MM theory of capital structure, the research challenges the traditional assumption of dividend irrelevance by incorporating real-world financial constraints and governance dynamics. The sample consists of 475 non-financial firms listed in Thailand, covering data from 2019 to 2023. Using Hayes’s PROCESS Macro for moderated moderation analysis, the findings reveal that cash holdings positively influence dividend payouts, and this effect is contingent upon both the firm’s leverage and size. Specifically, small firms with low debt levels tend to offer higher dividend payout, whereas large firms with below-average industry debt show diminished dividend payouts. This interaction presents a novel theoretical contribution by linking liquidity management, capital structure, and firm scale in explaining dividend behavior dimensions that have rarely been integrated in prior research. The study extends the existing literature on investment returns and corporate financial policy and provides practical implications for investors and corporate decision-makers operating in emerging markets.

Drivers of Digitalization and Its Impact on Organizational Resilience in Thailand’s Top Department Stores

2025-09-17T15:15:25+00:00

This study investigates the key drivers of digitalization and the impacts of digitalization on organizational resilience among Thailand’s top department stores. Targeting mid- to senior-level managers, IT professionals, and operational executives, the study involved collection of data from a sample of 400 respondents using purposive and quota sampling techniques. A pilot test with 40 participants was utilized to ensure the reliability of the questionnaire through Item-Objective Congruence (IOC) and Cronbach’s Alpha analysis. Data were analyzed using Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM). The findings reveal that innovation (β = 0.189, p < .001), human capital (β = 0.519, p < .001), and infrastructure and technology (β = 0.334, p < .001), significantly drive digitalization, while business model adaptation did not show a significant effect (β = 0.057, p = .313). Furthermore, digitalization was shown to have a strong influence on organizational resilience (β = 0.863, p < .001). These results highlight the critical role of investment in human capital, fostering innovation and enhancing technological infrastructure, to accelerate digital transformation and build resilience in a rapidly changing retail environment. The study offers practical insights for department store leaders seeking to strengthen their digital capabilities and adapt effectively to market disruptions.

Digital Transformation and ESG Rating for Industry 5.0 in the Chinese Manufacturing Industry

2024-09-19T05:46:20+00:00

With the introduction of Industry 5.0, which emphasizes greater social responsibility and sustainable development for companies, it is imperative to explore the intricate relationship between digital transformation (DT) and environmental, social, and governance (ESG) rating. This study aims to understand how DT impacts ESG rating, considering the evolving competitive advantage of firms from the perspectives of resource-based view theory (RBV) and knowledge management (KM) theory. This study examines the relationship between DT and ESG rating, as well as the mediating effect of green innovation (GI) in this relationship. Utilizing data from 360 Chinese manufacturing firms listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2010 to 2022, the findings reveal that with the exception of digital technology and data analysis, DT was shown to have significant impacts on corporate ESG rating. Specifically, digital business strategy and leadership, and human resource capabilities and culture showed positive relationships, while transformative organization and operations exhibited a negative relationship. Furthermore, GI was found to mediate the relationship between DT and ESG rating. By uncovering the internal mechanisms through which DT affects ESG rating, this study provides valuable insights for companies looking to enhance their sustainable practices within the framework of Industry 5.0.

The Besuca Case – Tradition Meets Innovation: Transitions Within a Family Business Case Study

2025-10-27T12:49:53+00:00

Thanakorn Rattanavoranun never set out to become a business owner, though his entrepreneurial spirit was undeniable. Raised in a small Thai village in Nakhon Si Thammarat, a province renowned for its handwoven textiles and deep-rooted craftsmanship, he was captivated by the vibrant colors and intricate textures of traditional Thai fabrics. These garments carried history, identity, and a sense of belonging, shaping his appreciation for heritage from a young age. Years later, that legacy would resonate with the next generation as well. His daughter Rachel, the eldest, and his younger son Napat had recently completed their business degrees when they began to explore how they might contribute to the family’s growing firm.

Teaching Notes: The Besuca Case – Tradition Meets Innovation: Transitions Within a Family Business

2025-10-27T13:02:23+00:00

The Besuca case study examines the entrepreneurial journey of Thanakorn Rattanavoranun, a visionary entrepreneur who transitioned from a teaching career to starting a family business. Driven by his passion for traditional fabrics and his desire to preserve and modernize Thai textile craftsmanship, Thanakorn built Besuca from scratch, blending business intuition, social relationship-building, and a commitment to community support. His entrepreneurial spirit, along with his strong ties to local artisans and suppliers, transformed Besuca into a business, shaped by cultural identity and evolving consumer interest in heritage-based products.

Key Factors Influencing Technology Adoption for Food Loss Management in SMEs

2024-12-12T14:40:39+00:00

Food loss is a pressing global issue, with significant economic, environmental, and social ramifications. Small and Medium Enterprises (SMEs), which constitute a substantial share of food production, often face higher levels of food loss during processing due to limited resources and production capacity. Digital technologies present a promising solution for managing food loss and enhancing sustainable food security. However, SMEs frequently encounter barriers, such as resource constraints, limited budgets, and inadequate technical expertise, when adopting such technologies. This study investigates the factors influencing the adoption of digital technologies for food loss management among SMEs in the food manufacturing industry by employing an integrated framework that combines the Unified Theory of Acceptance and Use of Technology (UTAUT) with the Technology-Organization-Environment (TOE) perspective. Data were collected through a census approach, using questionnaires emailed to representatives of food manufacturing SMEs registered with the Department of Business Development in the Bangkok Metropolitan Region, Thailand, yielding 371 usable responses. Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM) were utilized for data analysis. The findings revealed that performance expectancy, effort expectancy, and facilitating conditions, significantly impact the adoption of digital technologies, with facilitating conditions being the most influential factor. Conversely, social influence does not have a significant effect. The study highlights the importance of robust digital infrastructure, accessible technology specialists, and tailored training programs to enhance SMEs’ digital adoption. Furthermore, promoting awareness of the benefits of digital technologies and ensuring user-friendly solutions can improve confidence, motivation, and operational efficiency, ultimately reducing food loss in SMEs.

Guidelines for Enhancing Design Thinking Attributes and Empowering the Application of Design Thinking in Schools

2025-12-29T04:51:47+00:00

Design Thinking (DT) is increasingly recognized as a critical capability for leaders in business and other sectors, including education, where schools operate as complex organizations requiring innovation and adaptability similar to businesses. This study positions school administrators as strategic human capital whose DT attributes drive organizational innovation and transformation toward design thinking–oriented schools. Using a mixed-methods design, the study examined DT practices across diverse school contexts and developed implementation guidelines to enhance DT-based leadership. A quantitative survey of 480 administrators was used to assess DT attributes, implementation levels, outcomes, and barriers. This was followed by qualitative interviews and focus groups with administrators and DT experts to explore leadership development pathways, practical DT practices, and context-specific challenges. Results indicated that DT implementation levels were primarily explained by DT attributes—especially acceptance and beliefs—accounting for 44% of the variance, while DT outcomes were influenced by DT attributes and policy implementation within a supportive learning culture, with school context playing a secondary but significant role (44.6%). Qualitative findings highlighted both enablers and barriers, emphasizing the need for context-sensitive strategies. The proposed framework for design-oriented leadership in school leaders, offers actionable guidance for cultivating innovation-oriented, human-centered leadership and aligning educational organizations with design thinking practices commonly applied in progressive business contexts. These findings provide a foundation for context-based strategies to empower the application of DT in schools.

Analysis of the Satisfaction of Chinese Young Consumers to Baijiu

2024-09-11T07:31:15+00:00

This study aimed to analyze the key factors influencing the satisfaction of young Chinese consumers with Baijiu (a traditional Chinese liquor) and subsequently to propose targeted marketing strategies. By integrating the Howard-Sheth model and China Customer Satisfaction Index (CCSI), a comprehensive framework was constructed to evaluate the perceptions of young consumers. Through a survey of 1,052 young consumers, data were collected and analyzed using Structural Equation Modeling (SEM) and Confirmatory Factor Analysis (CFA). The results revealed that product quality and perceived quality are the most significant factors, while brand image has limited influence. A positive attitude toward the product directly impacts satisfaction. The study highlights the importance of prioritizing product quality and consumer-centric marketing strategies to cater to young consumers. Furthermore, this study incorporated Necessary Condition Analysis (NCA) to further explore the critical factors influencing young consumers’ attitudes towards purchasing Baijiu. The NCA results highlighted that a clear purchase attitude is a necessary condition, while perceived quality is one of the necessary conditions for forming such an attitude.

A Verification of Being Cruise Destination Attributes Towards Perceived Destination Quality: Application for Managing Thailand Cruise Tourism Destination

2025-12-29T07:39:08+00:00

Current understanding of the basic characteristics that affect the perceived quality of cruise destinations remains lacking. In order to create a set of perceived destination quality (PDQ) variables, this study intends to investigate and verify cruise destination attributes in both reflective and formative terms. Data was gathered using a questionnaire survey as part of the study’s quantitative research technique. The study sample comprised 350 participants, with GSCA Pro software version 1.1.8 being used to analyze the data that was gathered. The research results confirmed the essential components of perceived destination quality (PDQ), which were composed of the following six important categories as first-order constructs: natural and well-known attractions, the variety of tourist services and culture, the quality of general tourist atmosphere, entertainment and recreation, the general environment, and accessibility. The 23 observed variables in this study, which comprised important reflective and formative components, were used to evaluate these constructs. The study’s findings can serve as a reference for executives, cruise tourism managers, and port destinations as they create policies and plans to grow cruise tourism in the destination region. Meanwhile, researchers may use these sets of variables for consideration in conjunction with other elements in subsequent studies.

Green Hotel Practices and Intentions to Stay: The Moderating Roles of Personal Innovativeness and Nationality

2025-12-29T08:08:02+00:00

This study examined how green hotel practices influence international tourists’ intentions to stay, using the Stimulus-Organism-Response (S-O-R) framework. It also investigated the moderating roles of personal innovativeness and nationality. Data were collected from 539 international tourists who stayed at certified green hotels in Thailand’s Eastern Economic Corridor (EEC). The study employed exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modeling (SEM) to validate the green practice dimensions and test the hypothesized relationships. The results revealed four key dimensions of green hotel practices: resource efficiency, energy conservation, water efficiency, and green certifications. All dimensions were found to positively influence perceived value, which, in turn, mediated their effects on green satisfaction and the intention to stay, confirming a cognitive-affective-behavioral pathway. Personal innovativeness was found to significantly moderate the relationship between resource efficiency and perceived value, as well as between water efficiency and perceived value, highlighting the role of innovation orientation in sustainability perceptions. A multi-group analysis showed that nationality (categorized as European vs. Non-European) moderates the relationship between satisfaction and intentions to stay, suggesting that cultural context influences how green satisfaction translates into behavioral intentions. This study advances sustainable hospitality theory by identifying the green practices that have the greatest influences on guest behavior and exploring the boundary conditions that shape their effectiveness. The findings offer practical implications for hotels, advising them to prioritize visible, tangible sustainability practices, adopt differentiated communication strategies based on guest innovativeness, and develop culturally tailored approaches to enhance the impact of green initiatives across international markets.

From Plate to Planet: Redefining the Low-Carbon Tourism Experience and Investigating Its Influence on Gastronomy-Based Tourists’ Revisit Intentions and Environmentally Responsible Behaviours

2025-12-29T09:45:36+00:00

Gastronomy tourism reflects key sustainability issues and has become an important means of supporting sustainable tourism. Many tourist cities have developed gastronomic and low-carbon travel activities to promote local food through tourism campaigns. However, the concept of low-carbon tourism (LCT) within the gastronomy context has not been explored adequately, and empirical research on the LCT experience from the demand side remains limited. This study employs mixed-methods research. First, the dimensions and attributes of the LCT experience of gastronomy-based tourists were developed and validated. Following the scale development process, a multidimensional LCT experience scale comprising seven dimensions was identified: learning, sensory, escapism, immersive, prestige, affective and sociocultural experience. Second, quantitative data collected from 947 participants were analyzed using structural equation modeling to examine the causal relationships between the LCT experience, experiential satisfaction, destination image, revisit intentions and environmentally responsible behavior among gastronomy-based tourists. The findings offer an extended view of the LCT experience from the perspective of gastronomy-based tourists and contribute to understanding how such experiences shape the tourists’ environmentally responsible behaviors and support sustainable tourism.

Sustaining Green–Heritage Destinations: Normative and Heritage-Value Mechanisms Driving Sustainable Tourism in Bang Kachao

2025-12-29T14:04:02+00:00

Sustainable tourism in heritage-rich green destinations is shaped by complex motivational forces that are not fully explained by conventional extensions of the Theory of Planned Behavior (TPB). This study reinterprets the TPB and investigates the interplay between attitudinal, normative, and heritage-based motivations in Bang Kachao, Thailand. Using a correlational, cross-sectional design, data were collected from general tourists and local residents and analyzed through a hybrid strategy integrating Structural Equation Modeling (SEM), fuzzy-set Qualitative Comparative Analysis (fsQCA), and Necessary Condition Analysis (NCA). The SEM results demonstrate that subjective norms are the strongest predictor of sustainable visitation intentions, highlighting a context-dependent normative dominance characteristic of collectivist green tourism. Attitude contributes positively but less strongly, while a green destination image influences intentions primarily through evaluative pathways. A central contribution of the study is the identification of Green Heritage Capital (GHCA) as a compensatory motivational engine that can generate high intentions even when green image is weak. fsQCA further reveals two qualitatively distinct, equifinal motivational pathways—one norm-driven and the other heritage-value driven—while behavioral outcomes indicate a transition from social-normative influences at the intention stage to heritage-based and mixed configurations during the development of support for sustainable tourism and in behavior stages. NCA and SCA triangulate the robustness of this dual-route system by confirming quasi-necessary conditions and sufficiency patterns. Collectively, the results advance sustainable tourism theory by establishing culturally contingent mechanisms, demonstrating dual-route motivational architecture, and elucidating motivational transitions across behavioral stages. Practical implications aligned with SDG 8.9 highlight the need for interventions that leverage both normative cues and heritage-based value framing to cultivate long-term, internalized sustainability commitments in green–heritage destinations.

When Discounts Undermine Good Intentions: Identity Salience and Symbolic Misalignment in CBT Marketing

2025-12-29T14:12:34+00:00

Community-Based Tourism (CBT) operators increasingly rely on “win–win” marketing strategies that combine pro-community appeals with direct economic incentives for tourists. While such mixed-incentive campaigns are widely assumed to broaden appeal, their effectiveness depends critically on how they are symbolically interpreted by different audiences. Drawing on signaling theory, cognitive coherence, and authenticity research, this study examines how the salience of a tourist’s moral versus deal-seeking identity shapes responses to mixed-incentive CBT promotions. Using a between-subjects experiment (N = 294), participants were primed with either a moral-identity or a deal-seeking identity before evaluating the same CBT promotion that bundled community revenue sharing with tourist discounts. Results show that identity priming does not directly affect engagement intention at the aggregate level. Instead, engagement is driven by symbolic perceptions—perceived authenticity, perceived fairness, and greenwashing suspicion. Crucially, the negative association between greenwashing suspicion and engagement is significantly stronger when a moral identity is salient. Among participants with a high ecotourism orientation, moral-identity priming is associated with lower engagement, revealing a counterintuitive backlash against mixed-incentive framing. These findings demonstrate that mixed incentives can function as symbolic contaminants rather than value enhancers when they conflict with a salient moral identity. The study contributes to tourism marketing and signaling theory by showing that the effectiveness of ethical appeals is contingent on identity-based interpretation, highlighting the limits of “one-size-fits-all” incentive strategies in sustainable tourism.

Book Review: MINDMASTERS: The Data-Driven Science of Predicting and Changing Human Behavior

2025-12-29T14:28:20+00:00