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Sasin Journal of Management

Sasin Journal of Management (SJM) was launched in 1995 to educate and stimulate the minds of business leaders and academics around the world by keeping them abreast of the latest theories and practical knowledge while also participating in a forum that brings East and West together in the sharing of information and insights.

Our editorial board consists of business leaders and faculty members drawn from the Wharton School of the University of Pennsylvania, from the J.L. Kellogg Graduate School of Management of Northwestern University, and from Sasin's own faculty. Meet the editorial board by clicking here.

SJM brings you a balanced mix of articles in a variety of business fields, including case studies of corporations and interviews with renowned business leaders.

  Back Issues:

Sasin Journal of Management, Volume 19, Number 1, 2014

SJM Interview:

  • Entrepreneurship, Online Payment Innovations, and Being a Team Player
    Mr. Aung Kyaw Moe
    Founder and Group CEO
    2C2P Pte Ltd.
  • Sustainability Management in the 21st Century
    Mr. Nick Pisalyaput
    Director of Sasin Centre for Sustainability Management, and Faculty of Management
    Sasin Graduate Institute of Business Administration of Chulalongkorn University
  • Becoming the “Google” for Online Shoppers in Southeast Asia
    Mr. Surawat Promyotin

    CEO and Co-Founder
    StylHunt Pte Ltd.

Franco Gandolfi

Investor Attention and Firm Characteristics – Evidence from Thai Stock Market

Sirisak Chueykamhang is currently a Ph.D. candidate at the Sasin Graduate Institute of Business Administration of Chulalongkorn University. His research interest is on capital markets and behavioral finance.  His background includes business and economics trainings as well as working experiences in the banking industry

I investigated the role of attention in influencing investors’ decision-making, thereby causing abnormal market reactions. Previous studies documented various channels and stimuli that influence investor attention. While most attention-related factors are often broad-based or market-related in nature, no previous attempt has been made to show that the firm’s inherent characteristics could also be an explanation for the attention effect found in the past studies. Using novel news data, I calculated the amount of reported political news in relation to other news on each day as a measure of investor attention to the market. High level of political news salience is indicative of a high number of distractions (i.e. low investor attention) from the relevant market information which hinders the investor’s information processing abilities. By employing an event study on earnings announcements in the Thai stock market, I found that, on the low attention days, investors do not react to either good or bad news across all firm characteristics considered. On the high attention days, the attention effect is strong for large, low market-to-book, and highly profitable firms. These results suggest that information dissemination in response to the earnings announcements is unbalanced across firms with different characteristics.

Sasin Journal of Management, Volume 18, Number 1, 2013
Franco Gandolfi  

The Impact of Corporate Social Responsibility on Employee Attraction and Retention in Thailand

Mr. Somkiat Phaphon is the Human Resources Executive Director at Deloitte Touche Tohmatsu Jaiyos, Thailand; Assistant Professor Dr. Sabin Srivannaboon is a faculty member in management, and operations and technology, and Assistant Professor Dr. Pattarake Sarajoti is a faculty member in finance at Sasin Graduate Institute of Business Administration of Chulalongkorn University, Thailand.

This paper investigates the role that corporate social responsibility (CSR) plays in attracting and retaining employees based on a survey of 575 employees of 22 listed companies on the Stock Exchange of Thailand. We found that external CSR practices and policies (e.g., brand awareness, company reputation) tend to be more common than internal ones (e.g., compensation, work environment). More specifically, external CSR practices and policies have positive effects on employee attraction and retention. On the other hand, internal CSR practices and policies, with the exception of internal communication, have less impact on employee attraction and retention. Companies should design their CSR strategies with an emphasis on CSR practices and policies that promote company reputation, internal communication, brand awareness, and social responsibility.
Franco Gandolfi  

Innovation in Organizations for Competitiveness in the Next 15 Years in Thailand

Associate Professor Dr. Boon-Anan Phinaitrup is currently Associate Dean for Academic Affairs of Graduate School of Public Administration, National Institute of Development Administration (GSPA-NIDA) in Thailand.

A study of innovation in organizations for competitiveness in the next 15 years in Thailand’s objectives are to study the factors that may impact changes in organization management and the role of the workforce in 2027 and to study trends in organization management up to 2027. The research method employed the semi-structure interviews with top managers, and review internal organization documents and external documents. The findings showed that there are many factors for organizations to consider for the survival including roles of managers and employees. They are customer needs, technological development, climate change, globalization, organizational flexibility, and change agents.

Franco Gandolfi  

Green Human Resource Management and Corporate Financial Performance in Thailand

Ms. Rawinda Punnahitanon is the Finance and Administration Manager at Thai Aviation Refuelling Co., Ltd., Thailand; Dr. Piyachart Phiromswad is a faculty member in finance, and Assistant Professor Dr. Tanasak Krabuanrat is a faculty member in operations and technology at Sasin Graduate Institute of Business Administration of Chulalongkorn University, Thailand.

This paper examines the relationship between green human resource management and financial performance of large listed companies in Thailand.  Several factors (e.g. ownership structure, composition of investors, and the level of financial market development) could make findings in Thailand be different from those obtained in the Western nations.  We find that firms with high score in the environmental orientation and green human resource management tend to be large and have higher leverage ratio.  We also find weak evidence that environmental-related activities may negatively affect financial performance in the short-term but positively affect financial performance in the long-term.

Franco Gandolfi  

How Does Market Orientation Enhance Service Performance in the Healthcare Industry?

Dr. Nuntasaree Sukato is an Assistant Professor of Marketing in the Faculty of Business Administration at Dhurakij Pundit University, Thailand. Her field of research interest lies in marketing disciplines..

The purpose of this research study is to explain how market orientation affects service performance of the private hospital business in Thailand. There are two research objectives: first, to investigate the influence of market orientation components on service performance; second, to explore the extent to which market orientation and customer satisfaction affect the degree of service performance. The results revealed that the market orientation of the private hospital business in Thailand does not have a significant direct effect on an organization’s service performance but is mediated by customer satisfaction.


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