AU Virtual International Conference Entrepreneurship and Sustainability in the Digital Era: Vol. 3, No. 1 (2022)

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Factors affecting stock returns, stock return volatility and stock liquidity under the COVID-19 situation: a case study of the banking sector in Shanghai stock market
(Bangkok : Assumption University Press, 2022) Zhang, Jianlin; Witsaroot Pariyaprasert; Nawaporn Vimolphattanatham
This research aims to test whether the Covid-19 cases and deaths as well as other stock indicators have significant relationships with the stock market return, liquidity and volatility under the banking sector in the Chinese stock market. The researcher applies a quantitative method for the data measurement. The data was collected from several reliable resources such as tradingview.com, Sina news, WHO website and so on. Fixed effect panel regression model is used in this research to test the hypothesis. The regression results indicate that the daily growth in the total number of confirmed cases and the total number of confirmed deaths caused by COVID-19 has no significant effects on the stock market returns and price volatility. The daily growth in the total number of confirmed cases caused by COVID-19 has some significant negative effects on the stock liquidity. Moreover, the trading volume of stocks, Price-Book ratio has significant positive effects on the stock market return, volatility, and negative effects on stock liquidity; while market capitalization has significant positive effects on the stock liquidity, negative effects on stock return volatility. The study indicates that stock market investors should focus more on other factors such as financial ratio (P/E ratio), GDP, interest rate, those relevant indicators might also affect the stock return volatility and stock trading liquidity, as well as affect the return on the stock. Researchers are recommended to understand that Covid-19 pandemic cannot always affect the stock return, stock liquidity and stock price volatility. Moreover, investors can get some ideas about finding good investment opportunities under the covid-19 after reading this research.
Impact of Covid-19 on liquidity, profitability, and financial health: a case study of 3 sectors from stock exchange of Thailand
(Bangkok : Assumption University Press, 2022) Jinnapat Chuencharoen
Purpose-To test the impact of Covid-19 pandemic on Profitability, Liquidity, and Financial Health on the selected 3 sectors which are Tourism and Leisure Sector, Transportation and Logistics Sector, and Health Care Service Sector of the Stock Exchange of Thailand. Design/methodology/approach-The author uses Wilcoxon MEAN and MEDIAN tests to test the statistically difference between the financial ratios from year 2019 and 2020. The 10 independent variables of financial ratios are ROA, ROE, Net Profit Margin, Acid Test, Current Ratio, Cash Ratio, Operating Cash Flow Ratio, Total Asset Turnover, Debt to Assets Ratio, Debt to Equity Ratio. Findings-The result confirms the hypothesis that there is a significantly different in the result of Tourism and Leisure Sector on ROA, ROE, Net Profit Margin, and Total Asset Turnover. Which represent the dramatically impact of covid-19 on the Profitability and Financial Health of the firm. While there are not significantly different in Transportation and Logistic Sector and Health Care Sector. Research implications-Researcher can use this Wilcoxon test in other sectors Thailand or in other country. The investors are not recommended to invest in the stock under the sector of tourism and leisure sector due to the financial performance which effected by the covid-19 pandemic. However, investors who concentrate on long-term investing in securities may get beneficial opportunities by using the information to forecast the firm’s position and direction. The investors should not be so panic about the performance of companies in other sectors because the financial performances of the companies in those sectors have not been significantly changed from covid-19 pandemic.
The factors that influencing the online purchase intentions of furniture through online shopping platforms during the Covid-19 pandemic in Thailand
(Bangkok : Assumption University Press, 2022) Supanida Taemkongka; Witsaroot Pariyaprasert; Charnsid Leelakasemsant
Purpose – Firstly, this study aims to focus on the customer's online purchase intention of furniture through an online shopping platform which is various in Thailand such as Shopee, Lazada, Facebook marketplace and so on. Secondly, the study measures the factors which can affect the online purchase intention of customers who prefer to shop furniture online which include trust, perceived risk, perceived usefulness, social commerce construct and perceived behavior control during the Covid-19 Pandemic in Thailand. Design/Methodology/Approach – This study used the previous study as reference to conduct the information, a secondary data analysis from the source and conduct the information as a conceptual framework and state the hypothesis for the research. Findings – The online purchase intention is defined as customers' conscious plans to acquire a product as a result of a personal process and an evaluative and normative judgment, people will have their perspective by each person and it has many positive relationships with many factors which can change the direction of customer minds. Research Limitations/Implications – The limited time period it is difficult to access the literature paper and there are many ranges of target respondents, the survey's results may be varied, putting the survey's goal at risk of being missed. Originality/value – The furniture seller of an online shopping platform can use this report as a source, insight to manage the process of their product/service and improve on some pain points to propose the appropriate to satisfy customers.
Impacts of the US and China macroeconomic indicator announcements on Cambodia stock market
(Bangkok : Assumption University Press, 2022) Thoun, Ponlok; Witsaroot Pariyaprasert; Ekkachai Boonchuaymetta; Yanee Leoywanichjalearn
This study investigates the impacts of five macroeconomic indicator announcements from the Unit States and China on the volatility of Cambodia Securities Exchange (CSX) index during the period of 2016 to 2021. Generally, it is a well-known fact that a country’s macroeconomic announcement could potentially affect the stock return volatility of another; however, despite decades of research, new small emerging countries remain untouched, unexplored, and may contain new knowledge to learn from. To investigate this subject, E-GARCH model was used as a method to analyze the behavior of volatility of the index upon the releases of selected five unexpected macroeconomic indicator announcements by both the US and China. The findings suggest that CPI, GDP, IP, and BOT announcements released by the US were found to have the greatest influence on the volatility of Cambodia stock index. In comparison, the index reacted only to the announcements related to China’s IP, PMI, and BOT. The contrasting outcomes behavior could be explained by the two countries’ trading relationship with Cambodia, prior research, and issues surrounding the release of China’s macroeconomic announcement.
The study of factors that affect job performance during work from home in top 2 e-commerce business in Thailand
(Bangkok : Assumption University Press, 2022) Kotchanud Laopatumvirot; Witsaroot Pariyaprasert; Polpiya Thitivesa
Since COVID-19 or Coronavirus Disease's first outbroke in China in the last quarter of 2019, it has brought a major change to how people live, work, and survive in the severe condition of the disease. Besides, it drastically affected the economy and many organizations around the world. Many businesses found themselves unable to adjust their operations during the COVID-19. Millions of people had lost their jobs and most businesses had to adjust as quickly as possible during COVID-19, e.g., by shifting traditional work practices to work from home in order to stay afloat. Therefore, the purpose of this study is to explore the factors that affect job performance in e-commerce businesses while employees are working from home. These factors include the physical work environment, work motivation, organizational support in terms of technology, and work stress. The study used a quantitative method, and the target respondents will be specific to those employees who are working in top-ranking 2 e-commerce companies in Thailand. However, the questionnaires were distributed to 230 respondents in the top 2 e-commerce companies in Thailand, but there were 220 employees who responded to the questionnaires. The result of the study showed that there are three independent variables, which are physical work environment, work motivation, and organizational support in terms of technology, that influence job performance in e-commerce businesses during work from home. Conversely, work stress is the only factor that doesn’t influence job performance in this industry.
Factor influencing job performance in audit and consulting services of big 4 accounting company in Thailand during COVID-19 situation
(Bangkok : Assumption University Press, 2022) Natparin Lerttaweewuti; Witsaroot Pariyaprasert; Keeravoot Kitiyadisai
The Coronavirus (COVID-19) pandemic in Thailand began on January 13, 2020. Thai government had announced lockdown which had an effect to the work system to response and prevent the outbreak of COVID-19. There are many previous studies have been discussed on how work from home affected to job performance in generally term but there are only few research showing how work from home is affecting to audit and consulting services. Therefore, this study is aimed to determine the factors that influence job performance in audit and consulting services of big 4 companies in Thailand. This study develops a conceptual framework from previous literature review, which consist of five independent variables. The study used the quantitative research survey method, a questionnaire was developed and distributed equally to 280 employees in big 4 companies in Thailand and 264 employees were responded. The result of the study showed that employee commitment has impact on job satisfaction, despite of work-life balance has no impact on job satisfaction. Moreover, work environment and job satisfaction have affected to job performance, whereas remote working has no affect to job performance.
Investigation of Chinese expatriates' satisfaction and loyalty to visiting the leading and luxury shopping complexes in Bangkok metropolis
(Bangkok : Assumption University Press, 2022) Chen, Yujie; Apichart Intravisit
Purpose: This research study aims to determine the extent to which Chinese expatriates are drawn to visit the leading and luxury shopping complexes in Bangkok Metropolis, by measuring the shopping complexes’ CRM attributes, their utilitarian value and their atmosphere. Attributes of customer relationship management (CRM)in this study include: the behavior of the employees; quality of customer service; relationship development; and interaction management. Research design, data and methodology: Chinese expatriates living in Greater Bangkok are asked to express their satisfaction and loyalty towards the shopping complexes. This study uses a quantitative research design. Questionnaire is distributed to the sample size of 150 customers. Multiple Linear Regression (MLR) and Simple Linear Regression (SLR) are used to analyzed the results. Results: The study finds that all the CRM elements, except relationship development have an impact on Chinese expatriate customers’ satisfaction and loyalty, while both the shopping complexes’ utilitarian value and their atmosphere have an impact on Chinese expatriate customers’ satisfaction and loyalty to the shopping complexes. Limitations/Implication: The results can be useful for the shopping complexes’ CRM planners to design specific communication and customer intimacy specifically catered to Chinese expatriate customers, of which population continues to rise as a result of growing businesses between Thailand and China.
Influences of celebrity endorsement on Thai male consumers' attitudes and purchase intention of male cosmetics: the case of Lee Dong Wook in boy de CHANEL
(Bangkok : Assumption University Press, 2022) Nissareen Veerasatien; Apichart Intravisit
Purpose – The purpose of this study is to examine the influence of celebrity endorsement on the attitudes of Thai male consumers, which lead to male cosmetics purchase intentions, by using a case study of famous male cosmetics advertisements. Design/Methodology/Approach – To purpose the new conceptual model, this study has explored previous research and adapted some models to be more relevant. A self-administered survey was used to collect the primary data. Inferential analysis was done by multiple linear regression (MLR) to test the hypotheses. Findings – The results show partial support of hypotheses, such that trustworthiness and relevance are the only 2 factors in celebrity’s attributes that influence attitudes toward advertisements and attitudes toward products. Moreover, both attitudinal variables are significantly linked with male cosmetics purchase intentions. Limitations/Implications – This study is relatively novel in terms of the industry that it aimed to study, male cosmetics. Previous articles related to this industry, and research using the PATER model, are scarce. Future studies can pinpoint more into this model and this industry. Furthermore, the familiarity between consumers and ads elements might play a role, according to the results. Hence, Thai ads might be used to study in future research on Thai male consumers.
A comparative study of students' motivation and perception of parental encouragement for learning english
(Bangkok : Assumption University Press, 2022) Napatr Pumhiran; Chayada Thanavisuth
Purpose: The purpose of this quantitative comparative study was to determine whether there were significant differences among Grades 3-5 students’ motivation and perception of parental encouragement for learning English at an International School in Nonthaburi, Thailand. Research design, data and methodology: A total of 102 students participated in this study. The research instrument was the Motivation and Perception of Parental Encouragement for Learning English Questionnaire (MPPEFLEQ) which was adapted from the international version (2004) of Gardner's Attitude/Motivation Test Battery (AMTB). Results: The results showed that there was a significant difference in both motivation and perception of parental encouragement for learning English among Grades 3-5 students at International School in Nonthaburi, Thailand. Conclusions: The results indicated that there were significant differences between students’ drive for learning English and parental support for learning English among Grades 3-5 students at an International School in Nonthaburi, Thailand.
A comparative study of motivation for and situational interest in learning Chinese as a foreign language among Thai upper elementary school students
(Bangkok : Assumption University Press, 2022) Chen, Ting; Gonzalez, Orlando
Purpose: The purpose of this study was to determine whether there was a significant difference in motivation for and situational interest in learning Chinese as a foreign language (CFL) among Grades 4-6 students at an international school in Bangkok. Research design, data and methodology: In order to accomplish this purpose, a quantitative comparative research design was employed on 36 students from Grade 4, 31 students from Grade 5, and 32 students from Grade 6 enrolled in an international school in Bangkok, in the academic school year 2021- 2022. Motivation-related data were gathered through administering the Motivation for Learning Chinese Questionnaire (MLCQ), adapted from Gardner (2010), while the situational interest scale was measured using the Situational Interest Scale (SIS), adopted from Chen et al. (1999). Results: The overall level of motivation for learning in CFL of the participants, regardless of their grade, was partially high and was numerically very similar across grades, whereas the overall level of situational interest in learning CFL was moderate regardless of the grade, and numerically dropped in Grade 6. Moreover, there was no statistically significant difference in either motivation for or situational interest in learning CFL among Grade 4, Grade 5, and Grade 6 students at the target school. Conclusions: The results indicate that being enrolled in either Grade 4, 5 or 6 at the target school appears to have no statistical effect on the participants’ motivation for and situational interest in learning CFL.
Grade 10 Indian students' academic performance and leisure interest in science under laboratory-based and textbook-based methods
(Bangkok : Assumption University Press, 2022) Yadav, Poonam; Gonzalez, Orlando
Purpose: The purpose of this quantitative comparative study was to determine whether there was a significant difference in the gain in academic performance and leisure interest in Science between Grade 10 students learning under laboratory-based method and those learning under textbook-based method at St. Joseph High School, Barhalganj, India. Research design, data and methodology: The researchers implemented, during June 2022, a quasi-experimental research design, using two conveniently-chosen groups of Grade 10 students from the target school: a group of 35 students was taught using laboratory-based method, while a group of 37 students was taught using the textbook-based method. For the data collection, the Students’ Leisure Interest in Science Questionnaire and a Science academic performance test were both administered as pre-tests and post-tests. Results: There was no significant difference in the gain in either academic performance in Science or leisure interest in Science between Grade 10 students learning under laboratory-based and textbook-based methods; however, participants’ academic performance in Science was numerically higher for those learning through laboratory-based method. Conclusions: The results indicate that the teaching method under which Grade 10 Indian students from the target school were learning Science appears to have no significant effect on their gain in either academic performance or leisure interest in Science.
A correlational-comparative study of self-regulation in learning Chinese as a foreign language and Chinese as a foreign language academic achievement of grade 9 and grade 10 students in a private school in Thailand
(Bangkok : Assumption University Press, 2022) Tu, Dingmei; Lynch, Richard
The study aimed to investigate whether there was a significant relationship between the self-regulation in learning Chinese as a foreign language and Chinese as a foreign language academic achievement. Besides, the purpose of the study was to compare if there was a significant difference of self-regulation in learning Chinese as foreign language between grade 9 and Grade 10 students in a private school in Samut Prakan, Thailand. This study involved 259 students enrolled in private schools for the 2021-2022 academic year. This research was designed as a comparative-correlational study. Two research instruments were employed to collect the data. The first was the Questionnaire of Self-Regulation in Learning Chinese as a Foreign Language, which was adapted from the Strategy Inventory for Language Learning(SILL) (Oxford,1989). Secondly, the summative assessments were used as a research instruments to measure the Chinese as foreign language learning academic achievement for Grade 9 and Grade 10 students. Descriptive statistics, means and standard deviations were employed to analyze the students’ self-regulation in learning Chinese as a foreign language and Chinses as a foreign language academic achievement. Pearson product moment correlation was used to find the relationship between the self-regulation in learning Chinese as a foreign language and Chinese as a foreign language academic achievement. A two-tailed independent sample t- test was employed to compare the difference between Grade 9 and Grade10 students’ self- regulation in learning Chinese as a foreign language. The results of the research showed that there was a significant relationship between self-regulation in learning Chinese as a foreign language and Chinese as a foreign language academic achievement. In addition, there was a significant difference of self-regulation in learning Chinese as a foreign language between Grade 9 and Grade 10 students. On the basis of findings, the researcher offered recommendations to teachers, students, school administrators and scholars.
The relationship of Thai kindergarten 1 students' learning behaviors and parental encouragement for learning Chinese oral skills with their Chinese oral skills achievement
(Bangkok : Assumption University Press, 2022) Yang, Xin; Lynch, Richard
This study investigated the relationship between learning behavior and parental encouragement for learning Chinese as a foreign language oral skills and Chinese as a foreign language academic achievement at An International school in Thailand during the 2020~2021 academic year. Two research instruments were used in this study. The first was the Preschool Learning Behavior Scale to measure the learning behaviors of 138 Kindergarten 1 students during the Chinese as a foreign language oral skills class. The second instrument was the Parental Encouragement Questionnaire which was adapted from Gardner’s (2004) International version of the Attitude/Motivation Test Battery (AMTB) and was given to the mother of each of 138 Kindergarten 1 students at the school. The research found that learning behaviors were sometimes applied by students and that parents had a moderately high level of parental encouragement for their child’s Chinese oral skills learning, and the level of Kindergarten 1 students academic achievement in learning Chinese was excellent. Correlation analysis showed that there was no significant relationship between the learning behavior and parental encouragement for learning Chinese as a foreign language oral skills with Chinese as a foreign language oral skills academic achievement in Kindergarten 1 students at An International School in Thailand. The researcher provides recommendations for parents, teachers, school administrators, and future researchers.
Customer satisfaction in post COVID-19: a case study of Chinese restaurants in Ratchada Phitset District
(Bangkok : Assumption University Press, 2022) Huang, Ching Chuan; Huang, Naphat; Zhang, Shiguang; Chompu Nuangjamnong
Purpose: The research paper is to identify the determinant factors influencing customer satisfaction in the case of Ratchada Phiset district, Bangkok, Thailand Chinese restaurants by examining some attributes, including word of mouth, perceived quality, and expectation. Research design, data and methodology: 150 samples for investigation with employed convenience sample techniques and used an online questionnaire to collect the data. After collecting data, both descriptive statistics and inferential statistics were used to explain significant aspects. Results: The major findings are as follows: 1) Word of mouth has a significant influence on perceived quality. 2) Word of mouth has a significant influence on expectations. 3) Perceived quality and expectations have a significant influence on customer satisfaction. Conclusions: The research findings have met the research objectives. Chinese restaurants can improve customer satisfaction by creating special dishes, implementing personalized services, establishing customer databases, and implementing restaurant membership systems.
An empirical study of convenience, usefulness, customer trust and customer loyalty in the live streaming platforms
(Bangkok : Assumption University Press, 2022) Lin, Qianyu; Li, Yunman; Li, Jingyao; Chompu Nuangjamnong
Purpose: This study examines Live Streaming Platforms in China for convenience, usefulness, customer trust, and customer loyalty. This study was created, analyzed, and summarized using secondary data analysis using an archival study approach to establish a research framework. Research design, data, and methodology: 25 Chinese respondents employed purposive sample techniques and used an online questionnaire to collect the data, then used zoom meetings to ask respondents' opinions. After collecting data, descriptive statistics were used to explain crucial aspects. Results: The results of convenience, usefulness, trust, and loyalty can explain Livestream shopping systems' potential. Live streaming shopping connects factories, suppliers, and consumers directly. Customers can deal with suppliers, influencers, steamers, or net-idols on pricing, quality, custom needs, promotions, discounts, etc. Influencers, steamers, or net-idols entertain and give ideas for selling things while live streaming. Conclusions: The research findings have met the research objectives. This study paper's weaknesses include its China-centric focus. The research findings may only apply to China and no other countries.
Factors affecting purchasing behavior on Chinese investors in real estate in Thailand
(Bangkok : Assumption University Press, 2022) Zhou, Xuezhen; Kitikorn Dowpiset; Sansanee Aranyanak Khalaewkhla
Purpose: This study investigates the factors affecting purchase behavior on Chinese investors of real estate in Thailand after the postepidemic. Through indepth research and analysis, the researcher put forward attitudes, subjective norms, perceived behavioral control, and finance impact on Chinese investors' purchase of real estate in Thailand. The effect of purchase intention was specifically examined. Research design, data and methodology: The sampling techniques used in this research are convenience sampling and snowball sampling, as well as quantitative methods of multiple linear regression. Results: The target population of this study is potential Chinese investors in Globally. The researchers distributed a total of 400 questionnaires to unknown target of potential Chinese investors via WeChat. Therefor, 300 valid questionnaires were collected. Conclusions: The research result shows that subjective norms, attitudes, and perceived behavioral control affecting the intention to purchase a housing. However, the finance factor is significantly weaker in affecting the intention of Chinese investors to purchase real estate in Thailand.
A correlational study of student engagement and attitudes toward learning english with english academic achievement
(Bangkok : Assumption University Press, 2022) Sumit Pradhan; Chayada Thanavisuth
Purpose: The purpose of this quantitative study was to determine whether there was a significant relationship between student engagement and attitudes toward learning English with English academic achievement of Grade 3 students at an international school, Thailand. Research design, data and methodology: A total of 115 students participated in this study. The first research instrument was the Student Engagement and Attitudes Toward Learning English Questionnaire (SEATLEQ). It consisted of the Engaged Learning Index (ELI): Student Engagement to determine the level of student engagement; and Attitudes Toward Learning English Questionnaire (ATLEQ) to determine students’ attitudes toward learning English. The second research instrument was the English Final Test for Grade 3 students to analyze their English academic achievement. Results: The findings indicated that Grade 3 students at the target school had an overall high engagement level for learning English. While the overall level of attitudes toward learning English was interpreted as partially positive. The English Final Test depicted that students had a good level of English academic achievement. Conclusions: The results specified that there was a strong, positive, and significant relationship between student engagement and attitudes toward learning English with English academic achievement of Grade 3 students at an International School in Thailand.
Evaluating Chinese K-12 CFL/CSL teachers' readiness toward interactive reading platforms
(Bangkok : Assumption University Press, 2022) Qian, Junying; Satha Phongsatha
Purpose: This paper aims to investigate in-service Chinese teachers' perception of TPACK and readiness for integrating Interactive Reading Platforms when teaching Chinese as a foreign language (CFL) or as a second language (CSL) at K-12 and to determine the effect of TPACK on teachers’ readiness for technology integration. Research design, data and methodology: The research is quantitative in nature, using questionnaires and survey to collect data from samples. 226 teachers responded to the online questionnaires which was based on TPACK model and contained 43 items in total after adjustment for item validation and reliability. The variables were content knowledge (CK), pedagogical knowledge (PK), pedagogical content knowledge (PCK), technological knowledge (TK), technological content knowledge (TCK), technological pedagogical knowledge (TPK) and teacher readiness (TR). Results: Descriptive statistics showed overall high competency and readiness for technology integration, but participants were least confident about TK. Multiple linear regression supported the hypothesis that TPACK could affect TR statistically significantly. TPK had the greatest impact on TR; PK second; TCK third, CK had negative effect on TR. The remaining TK and PCK showed no influence. Conclusions: More study is suggested to investigate the effect of TK and CK on TR. Recommendations and suggestions for future research have been provided.
Teachers' perception towards factors influence online teaching readiness
(Bangkok : Assumption University Press, 2022) Taday, Johann Christine
In response to COVID - 19 pandemic, the schools urgently transitioned from traditional teaching to online teaching. Teachers were forced to quickly adapt to the new learning pedagogy. This study aims to investigate teachers’ perception toward factors that influence online teaching readiness using competency aspects, institutional support and computer anxiety as predictors. Samples were collected through online survey from 172 private school teachers. Multiple linear regression was used to test the hypotheses. The results revealed that linear combination of independent variables was statistically significant to online teaching readiness F (6,171) = 18.01, p = <.001), however individual analysis shows different results, among four competencies, time management is the strongest predictor of online teaching readiness whereas, computer anxiety was the second strongest. The remaining construct did not significantly influence online teaching readiness. Further analysis and review of previous literatures reveals that four-competencies used in this study has mixed results compared to findings of previous literature using same construct. The mixed results of competency variables could be attributed to variation of characteristics of the population. The researcher recommends to further explore other constructs such as institutional aspect towards online teaching readiness as well as the influence of cultural context as the mediating factor.

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