Year 2011

  • Asvathitanont, Chayakrit (2011) 'Does firm with better corporate governance enjoy lower cost of capital? Case of Thai public companies' Paper presented in Global Conference on Business and Finance Research, Institute of Business and Finance Research, USA
    Theingi, Hla and Nan Sam Siri (2011) ‘Opportunities, Challenges and Preparations: Myanmar and Asean Economic Community: Proceeding of the 2011 International Conference on Economics, Business and Marketing Management 11-13 March 2011, Shainghai, China
  • Racela, O. C. & Thoumrungroje, A. “Organizational Learning, Marketing Strategic Change and Performance of Wholly-Owned and International Joint Ventures in Thailand.” Proceedings of The Institute for Business and Finance Research. Honolulu, Hawaii, U.S.A. December 2011.
    In an international joint venture (IJV), the extent to which learning and change take place may depend on the ownership structure of the organization. This exploratory study compares the levels of organizational learning and marketing strategic change and their relationships with firm performance between 100% Thai-owned firms, Thai-majority IJVs and Thai-minority IJVs in Thailand. Using data from a sample of 101 firms listed in the Japanese-Thai Chamber of Commerce, we find Thai-majority owned IJVs have the highest level of organizational learning whereas the levels of marketing strategic change are equally low among all three ownership structure types. Moreover, organizational learning and marketing strategic change relationships with marketing performance and financial performance vary between the three groups. Findings from this study provide support on the role of IJV ownership structure on strategy formulation, implementation and firm performance.
  • Vithessonthi, C. & Thoumrungroje, A. (2011) “Strategic Change and Firm Performance: The moderating effect of Organisational Learning,” Journal of Asia Business Studies, 5 (2) 194-210.
    Purpose – The primary purpose of this research is to review and discuss the potential associations among strategic change, organisational learning, and firm performance, and to propose a conceptual model to investigate such relationships.
    Design/methodology/approach – The literature on the strategic change-performance relationship was explored with the emphasis on elaborating the effects of frequency of strategic change on firm performance. In addition, a moderating role of organisational learning on such a relationship is introduced.
    Findings – From the literature review, it is proposed that the relationship between strategic change and firm performance is an inverted U-shape. Extremely frequent and infrequent strategic changes are deemed to be detrimental to firm performance. However, the research reveals that the strategic change-performance relationship may alter due to the moderation of organisational learning.
    Research limitations/implications – Given the conceptual nature of this paper, a review of relevant literature and a conceptual model are presented with suggestions for future empirical study. This paper also extends the strategic change-performance research by advocating an inverted U-shape relationship as one plausible explanation for inconsistent findings found in past literature.
    Practical implications – Managers should try to understand their organisations and implement an appropriate level of strategic change in order to maximise the firm's overall performance. In addition, a significant role of organisational learning in supporting firms to manoeuvre in today's increasingly dynamic and competitive environment is highlighted to managers.
    Originality/value – This paper attempts to explain: why firms might attain different levels of performance provided that they undergo various degrees of strategic change (in terms of frequency); and what factors contribute to the variations in organisational performance among firms that have undertaken the same number of strategic changes during a given period of time.
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