Journal of Academic Management Science, Phetchabun Rajabhat University

The Impact of Cash Cycle on the Net Cash Flow of Listed Companies in the Stock Exchange of Thailand

Naliya Chansuk, Chawiang Wongjinda, Worapan Ratanasongtham — Fri, 17 Oct 2025 00:00:00 +0700

This research aimed to 1) study the cash cycle and net cash flow of companies listed on the Stock Exchange of Thailand and 2) study the impact of cash cycle on net cash flow of companies listed on the Stock Exchange of Thailand. This quantitative research utilized a sample of 490 companies listed on the Stock Exchange of Thailand (SET) with continuous operational reports for 3 years from 2021-2023, comprising a total of 1,470 data sets. Data collected included 1) cash conversion cycle, 2) accounts receivable turnover ratio, 3) inventory turnover ratio, 4) accounts payable turnover ratio, 5) company size, and 6) net cash flow. The research instruments included financial data recording forms, and data analysis employed descriptive statistics, correlation analysis, and multiple regression analysis.

The research findings revealed that 1) the cash conversion cycle averaged -18,726.79 days, accounts receivable turnover ratio averaged 22.10 times, inventory turnover ratio averaged 132.64 times, accounts payable turnover ratio averaged 9.87 times, company size averaged 41,611.97 million baht, and net cash flow averaged 182.31 million baht, and 2) all four components of the cash conversion cycle variables, namely cash conversion cycle (CCC), accounts payable turnover ratio (APT), accounts receivable turnover ratio (ART), and inventory turnover ratio (IT), have a positive impact on the net cash flow of listed companies on the Stock Exchange of Thailand.

Relationship Between Service Quality, Perception and Behavioral Intention of Tourists Visiting Si-Thep Historical Park, Phetchabun

Teerapattara Dee-aim, Phonwalun Mayoo — Fri, 24 Oct 2025 00:00:00 +0700

This research aims to: 1) study the levels of service quality, perception, and behavioral intention of tourists and 2) examine the relationships between service quality, perception, and behavioral intention of tourists. This is a quantitative study utilizing a questionnaire as the research instrument. Data were collected from 400 tourists visiting the Si-Thep Historical Park. The data were analyzed using a statistical software package, including frequency, percentage, mean, and standard deviation. Hypotheses were tested using Pearson’s correlation coefficient analysis.

The results revealed that: 1) the average levels of service quality, perception, and behavioral intention were rated as high; 2) the relationship between service quality and behavioral intention was moderate, and perception was moderately related to behavioral intention. The two variables were inversely correlated, with statistical significance at the 0.01 level.

The Development of Digital Service Quality Indicators in the Digital Era

Korrakot Nimmuang, Thirawat Chantuk — Fri, 24 Oct 2025 00:00:00 +0700

This research aims to develop Digital Service Quality Indicators that effectively meet the needs of service recipients in the digital era. The study has three specific objectives 1) to develop indicators capable of accurately measuring customer satisfaction, 2) to analyze key factors influencing the development of these indicators amid ongoing digital transformation, and 3) to evaluate the impact of data analytics on enhancing the accuracy of the indicators. Employing a documentary research methodology, this study synthesizes and analyzes secondary data from relevant academic literature.

The findings reveal that a robust set of Digital Service Quality Indicators should encompass five key dimensions: efficiency, reliability, responsiveness, privacy and security, and ease of use. Critical factors influencing their development include technological integration, stakeholder expectations, data-driven decision-making, and sector-specific requirements. The research also confirms that leveraging data analytics significantly improves the precision of these indicators. Based on these results, the study provides recommendations for policymakers, academics, and future research to support the development of digital services that align with user expectations in the digital era.

The Influence of Perceived Value on Repurchase Intention through TikTok Live Streaming

Suteera Detnakarin, Thananya Yincharoen, Akkayarn Arrayayarn — Wed, 12 Nov 2025 00:00:00 +0700

The purpose of this research was to examine the influence of perceived value, which consists of perceived utilitarian value, perceived hedonic value, and perceived social value, on repurchase intention through TikTok live streaming. A sample consisted of 364 customers who had previously purchased products through TikTok live streaming. Data were gathered by the online questionnaire and analyzed by frequency, percentage, mean, standard deviation, and multiple regression analysis. The results indicated that both perceived hedonic value and perceived social value had a significant direct influence on the intention of repurchasing, but perceived utilitarian value did not have a significant influence on repurchase intention in the TikTok live streaming context. That is, consumers of TikTok live streaming are more focused on entertainment or emotional value than on the functions or benefits of watching live streaming. Additionally, the result also found that perceived social value had the strongest predictive power of repurchase intention. This result highlights the importance of continuing to investigate perceived social value in the context of e-commerce live streaming in a country with a high collectivist culture, such as Thailand.

Decision Model for Receiving Traditional Chinese Medicine Services According to Marketing Mix Theory

Mon, 17 Nov 2025 00:00:00 +0700

The objectives of this research were to analyze the confirmatory components and examine the consistency of the decision-making model for receiving traditional Chinese medicine services based on the marketing mix theory. This is an exploratory research using questionnaires as a research tool. The samples consisted of 385 people who received treatment and health services at the clinic of Traditional Chinese Medicine, Zhen-an medical clinic Chinese medicine. The statistical data were analyzed using frequency, percentage, and confirmatory factor analysis. The results of the analysis revealed that the composition of the decision to receive Thai traditional medical services consists of 7 aspects: product, price, place, promotion, people, physical evidence and process consistent with empirical data where chi-square = 3.29, p = 0.51, df = 4, GFI = 1, AGFI = 0.98, RMR = 0.01, Standardized Residual = 1.59 and the Q-Plot is steeper than the diagonal. The elements of marketing factors affecting the decision to receive Traditional Chinese Medicine services will focus on the process (0.94), followed by people (0.93), physical evidence (0.91), place (0.87), product (0.71), Price (0.69) and the last priority is promotion (0.62).

Participatory Price Forecasting of Green Brinjal in Phetchabun Province

Benjamaporn Poolkaew, Kodchakon Klaihirun, Wilaiporn Wongin, Kritchai Khowjoy — Thu, 20 Nov 2025 00:00:00 +0700

The objective of this research was to compare and select the best forecasting time series method for forecasting the price of green brinjal in Phetchabun province in participation with farmers. The five comparison forecasting methods include: (1) Naive method (2) Moving average method (3) Simple exponential smoothing method (4) Double exponential smoothing method and (5) Winter’s exponential smoothing method. A forecast model using the selling price data of green brinjal from Talaadthai since 1 January 2021 to 30 March 2025 amount 1,550 data, then compared with the forecast values obtained from the model and the actual values. This research appropriate forecasting methods from the lowest were considered of mean percentage of absolute error (MAPE), mean absolute deviation (MAD) and mean square error (MSE).

The results showed that (1) Winter’s exponential smoothing method (Alpha = 1.0, Gamma = 0.2, Delta = 0.2 to 1.0) suitable for forecasting the lowest selling price of green brinjal, which gives MAPE = 0.0167 MAD = 0.0025 and MSE = 0.0019 (2) Winter’s exponential smoothing method (Alpha = 0.8, Gamma = 0.4, Delta = 0.2 to 1.0) suitable for forecasting the highest selling price of green brinjal, which gives MAPE = 0.0133 MAD = 0.0023 and MSE = 0.0021 and (3) Most farmers chose to use the Naïve method rather than the method that provides the highest accuracy, namely the Holt–Winters method, because the Naïve method is easy to understand and helps with immediate decision-making. This finding indicates that, although the Holt–Winters method provides better statistical accuracy, real world acceptance depends on translating forecasts into formats that are simple and practically usable.

An Analysis of Factors Influencing the Readiness for Digital Adaptation of Community Enterprises in Chiang Rai Province

Wed, 03 Dec 2025 00:00:00 +0700

This study aimed to analyze the factors influencing the digital adaptation readiness of community enterprises in Chiang Rai Province. The research examined the relationships among strategic leadership, customer experience, operational processes, business model, digital capability, and government support and their effects on the readiness level for digital transformation. The sample consisted of 333 community enterprise entrepreneurs in Chiang Rai, determined using Yamane’s (1973) formula. Data were collected through a five-point Likert scale questionnaire and analyzed using multiple regression analysis to identify the predictive influences of the independent variables on digital readiness.

The results revealed that the regression model exhibited a high degree of statistical validity, explaining 80.2% of the variance in digital readiness (R² = 0.802) with no multicollinearity issues (VIF < 5; Tolerance > 0.10). The variables with statistically significant positive effects (p < 0.01) were government support (β = 0.749) and strategic leadership (β = 0.312), both of which were key determinants of community enterprises’ digital readiness. The findings indicate that government support is the most influential factor driving digital adaptation, as public policies, resource allocation, and digital infrastructure development play a crucial role in enhancing the competitiveness and sustainability of community enterprises. Meanwhile, strategic leadership within organizations fosters proactive adaptation and the effective integration of technology into business operations. The combination of internal drivers (such as leadership vision and strategic orientation) and external enablers (such as government policies and institutional support) forms a critical mechanism that strengthens the readiness of community enterprises for sustainable digital transformation.

Marketing Mix Factors Influencing Passenger’s Decision-Making to Travel with Public Bus Services of the Transport Company Limited

Peravich Singkhala, Chalearmkiart Feongkeaw — Sat, 06 Dec 2025 00:00:00 +0700

This research aimed to 1) study the marketing mix factors of passengers traveling with Transport Company Limited, 2) study the decision-making of passengers in utilizing the company’s public bus services, 3) compare demographic factors with the decision to travel with the public bus services of the Transport Company Limited, and 4) study the marketing mix factors influencing passengers’ decision-making to travel the public bus services of the Transport Company Limited. A quantitative research approach was employed with a sample size of 153 respondents, determined using the G*Power program. The research instrument was a questionnaire. The statistics used were t-test, One-Way ANOVA, and Simple Linear Regression.

The research findings revealed that the majority of respondents were female, aged between 41 and 50 years old, with a bachelor’s degree or equivalent level. Most were employed as general laborers, earning an income between 10,001 and 20,000 THB. The overall mean score for marketing mix factors was at a high level ( = 3.65), as was the overall mean score for the decision to use bus services ( = 3.73). Among demographic characteristics, only income showed a statistically significant difference in the decision to use bus services at the 0.05 level. Furthermore, marketing mix factors significantly influenced passengers’ decisions to use the bus services of the Transport Company Limited at the 0.001 level, explaining 60.90 percent of the variation in decision-making.