Sasin Journal of Management: Volume 3, Number 1, 1997


Sasin Journal of Management: Volume 3, Number 1, 1997

na_sjmJ.P. Gupta, I.M. Pandey and Nguyen Hong:
The Privatisation Process: A Survey of State Owned Enterprises in Vietnam

Privatisation of state enterprises is a complex process. This becomes more complicated in countries such as Vietnam that are in transition from centrally planned to market-oriented economies. A variety of problems arise from the objective valuation of enterprises to people’s perceptions to the privatisation process itself. This article is based on a survey conducted in Vietnam to understand the issues relevant to the process of privatisation. The results show the views of different organisations on the problems involved and their importance.

na_sjmTimothy Harris and Mohamed Ibrahim:
Extent of Financial Disclosure of Canadian Crown Corporations

This paper examines the reporting practices of a sample of 38 Canadian Crown Corporations to provide evidence on whether differences in the level of financial disclosure mirror differences in firm characteristics (e.g., size, debt/equity ratio, liquidity, industry classification). Data were collected from the annual reports and analysed using regression analysis. The regression results do not support the existence of systematic differences in disclosure level among Canadian Crown corporations.

na_sjmRungsun Hataiseree:
Modelling Exchange Rate Policy Reaction Function: Evidence from Thailand Under the Basket Pegging Regime

This paper provides estimates of an exchange rate policy reaction function which the Bank of Thailand has used in the setting of the nominal baht-dollar exchange rate since the introduction of the basket-currency system. It is found that adjustments in the nominal baht-dollar exchange rate have a closer link with changes in the growth of the central bank’s international reserves than with either the current account or balance of payments, implying that international reserves were given a higher relative weight by the Bank of Thailand. This finding seems to provide little support of the view that the Thai monetary authorities have allowed the exchange rate to depreciate gradually in order to enhance the competitive edge of the export sector. Nonetheless, the finding regarding the role of international reserves is not totally surprising. It may reflect an attempt on the part of the monetary authorities to appreciate the baht exchange rate to minimise the unfavourable impact of huge inflows of foreign capital after 1987. Overall, such an appreciation provides some evidence of an attempt to stabilize domestic monetary growth and inflation generated by the rapid growth of international reserves.

na_sjmPeter N. Marber:
Revolutions and Evolutions: Financial Market Development in Russia

Since the collapse of the Soviet Union in 1991 – a period marked by enormous political and social upheaval – Russia has navigated its transformation from a state-planned to market economy. However, such an historic metamorphosis can be completed only if Russia continues to access capital domestically and internationally. Unlike its Communist cousin China, Russia has found it difficult to attract and sustain two core sources of hard currency — foreign direct investment (FDI) and export earnings. Media images of a chaotic, kleptocratic Russia have deterred FDI, resulting in the further dilapidation of the former Soviet industrial base. With the exception of energy and metals, the nation has few goods to export. As a result, Russia has been forced to rely on domestic and international capital markets to finance this monumental restructuring, a development that has rewarded many bold investors to date. As this intriguing country heads into the twenty first century, rapid progress – and profits – are being made in its financial markets.

na_sjmSiriyupa Roongrerngsuke and Adith Cheosakul:
A Study of Issues/Problems in Cross Cultural Technology Transfer as Experienced by Joint Enterprises in Thailand

A conceptual framework for the transfer of cross-cultural technology (CCTT) was developed to help identify issues and problems experienced by suppliers and recipients in Thailand in transferring technology across cultures. Fifty Thai-Japanese and Thai-Taiwanese joint ventures were investigated, and the results showed that cultural differences could create numerous barriers to successful technology transfer, most particularly in the area of communication. Recommendations to cope with the issues identified and the problems at each stage of CCTT are provided.

na_sjmSiriyupa Roongrerngsuke:
Case Study: Thai Kawaken Co., Ltd.

Tara Pongpun, general manager of Thai Castor Oil Industry, Co., Ltd. (TCO), and Pricha Wibul, plant director of TCO, were undecided as to how they should best approach their Japanese partner concerning the joint venture, some of which were delicate issues with their Japanese partner.

na_sjmCharles B. Weinberg and Chanthika Pornpitakpan:
Social Change and Marketing Management for Nonprofit Organizations

This paper discusses the role of marketing in nonprofit organizations, shows how a marketing approach helps nonprofit organizations to operate more effectively, and suggests the socially significant role that marketing can play beyond the business sector.

na_sjmTatsuya Yamaguchi:
Research Findings on Cross-Cultural Technology Transfer in Chinese Taipei, Thailand, Indonesia, and Brunei from the Viewpoint of the Technology Supplier

This paper describes difficulties and problems which have been experienced in actual practice by the joint ventures or corporate enterprises covered by our survey. Incidentally, most of the suppliers of technology were Japanese. The paper will also describe causes and possible solutions of the difficulties and problems and make general observations on cultural differences relevant to the problems and difficulties.

na_sjmSJM Interview: Khunying Niramol Suriyasat
What was it like for a Thai company to enter into a joint venture with a leading Japanese electronics firm 30 years ago? And how has this particular joint venture turned out to be successful when other international joint ventures the Japanese partner has formed have not?

For this issue focussing on cross-cultural management and joint ventures, Khunying Niramol Suriyasart, Chairperson of Toshiba Thailand Co., Ltd. and the key to the company’s success will tell us about how to manage a successful joint venture.