AU Journal of Management: Vol. 14, No. 2 (July-December 2016)

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    A multi-faceted framework for subsidiary evolution - a review of multinational subsidiary research
    This article provides an exploratory view on subsidiary evolution. Drawing upon extant multinational subsidiary research, a multi-faceted framework for subsidiary evolution is introduced to examine the process of roles and charters development in a foreign multinational subsidiary. In particular, the proposed framework comprises factors from three different levels—corporate-, subsidiary-, and host country-level factors—that influence the development process. The dynamic nature and the interplay of these factors are considered important to the evolution of subsidiary roles.
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    Customer satisfaction and loyalty towards cosmetic products: a case study on Bangkok's Boots drug stores
    This research focuses on the effects of customer satisfaction and loyalty at a well-known cosmetics store chain in Bangkok, Thailand: Boots stores. Questionnaires were distributed to collect information from 400 respondents who had received the services from the cosmetics departments of Boots stores. The results show that there is a relationship between customer satisfaction and loyalty. Every dimension of service quality namely responsiveness, tangibility, empathy, assurance and reliability has an impact on customer satisfaction, which can therefore be increased through creating loyalty through every dimension. In addition, there is a relationship between customer satisfaction and relative attitude. If the customers are satisfied with service, they will develop a favorable and positive attitude and this will create repurchase intention in the future, which is customer loyalty.
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    Does real estate fund in Thailand provide diversification benefits for stock investment?
    The real estate investment has been an alternative investment as a diversifier for traditional investment like the stock market. Previous studies have shown the diversification benefits of real estate investment for stock portfolios. This paper aims to examine whether and to what extent real estate funds can provide diversification benefits to investors. The information of stock returns and real estate funds in Thailand was gathered for the period during 2007 and 2015. The results show that there is no diversification benefit in terms of hedge or safe haven from real estate funds in Thailand. However, the average beta of real estate funds is relatively low and the risk-return performance of real estate funds remains attractive to be included in the portfolio.
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    Associations among personal characteristics, work related factors, and virtual distance
    This study examined associations among work related factors, personal characteristics, and the virtual distance between employees and their work teams. Hypotheses related to these associations were derived from previous studies and tested using data collected from a sample of 238 employees from a multinational telecommunications company. The findings confirmed significant associations reported in previous studies: between age and job satisfaction; between work position, level of responsibility, and the extent to which work was challenging and interesting; and among the personal characteristics and the work related factors. In this organization virtual distance had significant associations with work position, gender, and age but contrary to previous findings it did not have a significant association with an employee’s level of education. Contrary to previous findings, virtual distance was significantly positively correlated with the extent to which work was challenging and interesting, and the extent to which work provided opportunities for new learning and career growth. These were the only work related factors that had significant correlations with virtual distance. The findings contribute to theory and practice related to the management and development of virtual work environments and show clearly that in this telecommunications company virtual distance was not having a negative impact in relation to important work related factors.