Asean International Sandbox Conference

Editor's Note

Tue, 05 Dec 2023 04:09:34 SE Asia Standard Time

Advisory Board

Tue, 05 Dec 2023 04:15:31 SE Asia Standard Time

Sat, 23 Dec 2023 02:46:31 SE Asia Standard Time

A Study of Using Instagram as a Marketing Tool to Promote Trading for Online Sellers in Thailand

Theerarat Watcharasin — Tue, 05 Dec 2023 00:00:00 SE Asia Standard Time

In recent years, Instagram has become the most popular platform to promote the products and services. Some studies suggest because of the smaller number of advertisers in Instagram which produce less competitions thus offering greater opportunity for online sellers to use Instagram as a marketing channel. However, this does not necessarily represent the view of all the online sellers. Thus, this research paper venture on two main questions; 1) What are the reasons of online sellers choosing Instagram as a marketing tools? And 2) What are the effective features of Instagram which help online sellers to increase brand awareness and boost up their sales? To answer these 2 questions, this paper has conducted semi-structured interview with 10 online sellers. According to the findings, respondents or interviewees chose Instagram as a marketing channel or tools because of target group base (large number of active users), familiarity with the platform (easy to use), interface of the platform (engaging platform and visual advantage), and effective algorithm (availability of many marketing tools). Subsequently, respondents employed 5 main Instagram features to promote and boost their sales namely, post feature (the most popular feature), story feature, reels, hashtag, and ads. In addition to these Instagram features, they also have adopted 5 more marketing strategies or methods such as hiring influencers, adopting promotional campaigns, posting pictures at the right time, constantly updating the content and uploading unlimited story contents and changing content patterns. However, among all these features and marketing strategies, post feature is the most popular tool used for promoting products and services. All the respondents post pictures every day to keep their audiences active and in touch.

The Factors Changing Consumer Behavior in Food Supplements Industry After Covid-19 Pandemic

Wanwanut Kitja — Tue, 05 Dec 2023 07:13:18 SE Asia Standard Time

In this paper, the factors changing consumer behavior in food supplements industry after Covid-19 pandemic, a case study in Rangsit University, Pathum Thani, are studied by analyzing factors changing consumer behavior: depression, hopelessness, stress, and Covid-19 anxiety. Since Covid-19 pandemic has caused significant changes in consumer behavior across various industries, including the food supplements industry, this paper thus aims to understand the impact of the Covid-19 pandemic on consumer behavior in the food supplements industry and identify the factors driving these changes. The researcher also analyzed demographic and consumer behavior in food supplement industry to study factors that change consumer buying behavior by conducting survey research. The samples in this study are consumer who live around Rangsit University. The sampling method used to collect questionnaires in this work is convenience sampling.
The results of the study found that consumer had various effects on consumer behavior in food supplements industry, especially depression, Covid-19 anxiety, hopelessness, and stress, respectively. Demographically, income and age affected consumer behavior as consumer with different income and age have different impact of the Covid-19 pandemic on their purchasing behavior, while gender, and career had no effect.

Exploring Little Red Book User-Generated Content Model on Chinese Users Perception in Bangkok

Jianchao Fu, Doungtip Chareonrook — Tue, 05 Dec 2023 07:28:51 SE Asia Standard Time

This research paper presents findings from in-depth interviews conducted with eight users of Little Red Book, four residing in China and four in Bangkok, to investigate the impact of user-generated content (UGC) on the perception of Bangkok among Little Red Book users. The study revealed that Little Red Book has become an indispensable tool for most young Chinese people, with high user engagement and broad audience. Most of the interviewees used the app to gain information on city images and tourist destinations. Little Red Book has excellent data analysis capabilities and can accurately recommend content based on users' preferences and geographical location, attracting a significant number of users interested in travel information about Bangkok. Although the app provides comprehensive information about Bangkok, concerns among Chinese users who have not visited Bangkok regarding safety, owing to negative information on Little Red Book, greatly influence the city's image in their minds.

Marketing Communications of Developing Community-Based Tourism Towards Sustainable Green Tourism Destination Concept: A Case Study of Bang Yai District Nonthaburi Province

Kunakorn Wiwattanakornwong — Tue, 05 Dec 2023 07:39:34 SE Asia Standard Time

The purpose of study is 1. To delve into the potential and resources available for marketing communication in the Bang Yai District, Nonthaburi Province. 2. To Study the Factors in Selecting Media and Marketing Communication Planning Process 3. To propose comprehensive marketing communication guidelines tailored to the specific needs and goals of the Bang Yai District, Nonthaburi Province. This study employs the utilizing qualitative survey research methodology. Each tourism resources were assessed the potential by 3 assessors according to the concept of Utilization-Focused Evaluation: UFA. In-depth interviews were conducted with a purposive sample. The data was analyzed through descriptive writing methods and content analysis, and conclusions were drawn based on consistency and causality.

The results showed that there were 47 tourism resources in Bang Yai District, Nonthaburi Province, of which 15 are natural tourism resources and 32 cultural resources. 44.68% of tourism resources in Bang Yai District had the moderate level of tourism potential. Followed by 27.66% had a relatively low level of tourism potential, 19.15% had a relatively high level of tourism potential, and 8.51% had a low level of tourism potential. and the individuals are gravitating towards online communication methods, particularly social media platforms leading to a decline in offline marketing efforts. Marketers and media planners are also adapting to this shift in media usage, recognizing the importance of both online and offline marketing communications. The Bang Yai District has embraced the sustainable green community concept in marketing communication, focusing on creating a circular economy through community markets and income sources. This approach is crucial for the development of community and improvement of the quality of life. To ensure the success of the marketing strategy, the first step is to embrace the marketing challenge. This involves conducting a market analysis to align with the goals of marketing communications. Then, a team meeting should be held to establish objectives, media usage strategies, marketing campaigns, and a budget to guide the planning process in a cohesive manner. The media planning and marketing communication process should clearly define the goals and style of marketing communications, including the selection of media, design and production, dissemination, and evaluation of effectiveness. The target audience is a key consideration in media selection, taking into account factors such as the product or service and audience receptiveness to different media.

The Determinants of Financial Risk: Evidence from Vietnamese Listed firms

Thai Hoang Nguyen, Lai Thi Minh Trang, Nguyen Thuy Ngan — Tue, 05 Dec 2023 08:00:04 SE Asia Standard Time

Abstract: In recent years, the world economy in general and Vietnam in particular, have been heavily affected by the COVID pandemic. Many countries are forced to stop economic activity in areas where the COVID-19 epidemic is complicated. In Vietnam, the proportion of enterprises suspending business increased significantly in 2020 (81.8% compared to 2019). Facing this situation, firms must pay more attention to financial management issues and predict the financial risks. This study aims to investigate the impact of CEO’s characteristics on financial risk. This study used data from 454 firms listed on HNX and HOSE, with a total observation of 1,362 from 2018 to 2020. The results indicate that the age and education level of the CEO are positively correlated with financial risks. In addition, control variables such as profit margin, dividend payout ratio, the ratio of financial leverage, and the growth rate of the business have a significant impact on financial risk.

Research on Internship of Accounting and Auditing Students: Lessons for Students, Higher Education Institutions and Employers

Binh Huu Khieu — Tue, 05 Dec 2023 08:11:35 SE Asia Standard Time

The changes of the current business environment pose many challenges in terms of capacity including professional knowledge, skills and working attitudes. To be able to achieve success in the career they pursue, each student, in addition to cultivating knowledge, needs to be equipped with other soft skills through exposure in a real working environment. The study makes an assessment of the practical internship program for students of accounting and auditing through the survey method for students, employers, and universities thereby giving lessons and recommendations to improve this internship program. The paper gives evidence that will help students orient their careers more accurately, contribute to the University to improve the content of the training program, and assist employers in building an effective practical internship program.

Impact of ESG and Multinational Corporation Status on Stock Returns: Empirical Analysis of sSET-Listed Companies

Tue, 05 Dec 2023 08:24:01 SE Asia Standard Time

This study explores the relationship between the Stock Exchange of Thailand Sustainability Index (sSET), Multinational Corporations (MNCs), and Environmental, Social, and Governance (ESG) criteria. Our analysis is based on a sample of 136 companies. We find that larger companies tend to experience lower stock returns, while Return on Assets (ROA) and Return on Equity (ROE) do not significantly impact stock returns. However, being a Multinational Corporation (MNC) is associated with higher stock returns, as is the case with Export Companies. This research highlights the growing significance of ESG factors in financial markets, providing valuable insights for both scholars and practitioners navigating the complexities of ESG-related information in finance.

Using M-score Beneish Model to Measure the Creative Accounting: Evidence in Hanoi Stock Exchange Listed firms

Mun Phuong Chi Bui, Nguyen Thi Xuan Nhi, Le Thi Duong Ngoc, Tran Thi Phuong Lan — Tue, 05 Dec 2023 08:44:30 SE Asia Standard Time

Creative accounting is a term for creative accounting methods, often used to deceive the reader of financial statements. However, using creative accounting to reduce taxes or increase profits is rare in Vietnam. Since 2017, the Ministry of Finance of Vietnam has issued regulations on accounting documents and fixed asset management to help businesses perform accounting in accordance with regulations and avoid the use of creative accounting. However, there are still some businesses that use innovative accounting methods to reduce taxes and increase profits, beautify their financial situation to attract more investment sources. The purpose of this paper is to systematize the basis theories related to the creative accounting and the M-score model, also identify the independent variables capable of detecting the creative economy, predicting the ability to detect ecotourism of the model is built and provide some solutions and recommendations to contribute to improving the applicability of the M-Score model to investors' investment decisions. The study uses the Beneish M-Score model to analyze 100 Hanoi Stock Exchange (HNX) listed firms. The results have shown that there are four M-score component, including TATA-Total Accrual on Total Assets, GMI-Gross Margin Index, SGI-Sales Growth Index and DSRI-Days Sales Receivable Index, have an influence on the firm’ detection of the ability to use the innovative accounting. This result solves the goal that identify the measurement capable of detecting the creative economy. This paper contributes to making recommendations on improving the applicability of the M-Score in the discovery of creative accounting.

Influencing of Perceived Usefulness and Perceived Ease of Use on User Satisfaction: Evidence from E-invoice Users

Vu Thi Thanh Binh, Le Thi Thuy Linh, Mai Thi Hoa — Tue, 05 Dec 2023 08:59:20 SE Asia Standard Time

Electronic invoices are a part of the process of digitally transforming the national management system. User satisfaction is essential in assessing e-invoice and e-tax for tax authorities and government in the digital transformation context. This research investigates the effect of perceived ease of use and usefulness of e-invoices on user satisfaction. The research surveyed and collected 252 responses and used descriptive and quantitative analysis. The research findings indicate that the perceived ease of use and perceived usefulness positively influence user satisfaction with the e-invoice system. The perceived ease of use is the most important factor in firms' satisfaction with e-invoice implementation. Based on the findings, the study proposes some recommendations for firms and state agencies to improve e-invoice implementation.

The Effect of Corporate Governance Factors on the Corporate Capital Structure of Vietnamese Listed Companies

Phuong Chi Bui, Nam Trung Nguyen — Fri, 15 Dec 2023 03:12:40 SE Asia Standard Time

Capital structure, leverage ratio or balance between debt and ownership are always the important task of any company. It impacts to all business function and causality impact on managerial financial decision. In Vietnam, 97% of Vietnamese businesses are small and medium-sized enterprises, with limited capital capacity and difficulty in securing assets. They have to carry on and pressure on the double burden of cash flow and the risk of jumping into debt. This research explores the relationship between corporate governance factors, including Board duality, board gender, board size, board independence, and the capital structure of Vietnam listed companies. The research collects data of 199 listed companies in Vietnam from 2016 to 2021 from fiscal year financial statement from HNX and HOSE index and use 1188 observations in total. The results show that independent, size’s board of directors have significant relation with capital structure - leverage ratio. While company has dual director - Chief of Executive concurrently is the Chairman of the Board of Directors, and gender are negative effect to leverage, but only gender is provided significant result. It is consistent with the previous studies that the good board committee structure and quality tend to have lower debt ratio and increasing firm performance.

Factors Influencing the Timing of Financial Reporting Disclosure for Listed Companies in Vietnam

Hung Hoang Dau — Wed, 20 Dec 2023 00:06:23 SE Asia Standard Time

The disclosure time of financial reports is calculated from the end of a company's financial year to the date of announcing the audit report. This allows for the measurement of the duration a company requires to complete the preparation and auditing process of their financial reports after the conclusion of a financial year. The timely, accurate, and prompt disclosure of financial statements plays a crucial role for both businesses and the investment community in making informed decisions. It reflects the efficiency with which financial information is disseminated and holds significance in the decision-making processes of both enterprises and the investing public. The article investigates the factors influencing the disclosure time of financial information by listed companies in Vietnam. Utilizing the Feasible Generalized Least Squares (FGLS) model, the study conducts linear regression analysis with data comprising 1,716 observations collected from 429 listed companies during the period from 2018 to 2021 on two stock exchanges: Hanoi Stock Exchange (HNX) and Ho Chi Minh Stock Exchange (HOSE). The research results indicate that variables such as "AuditOpinion," "Big4," "ConcOwn," "StateOwn," "TobinQ," and "Listedyear" all have an impact on the disclosure time of financial reports. Among them, the variable with the most significant influence is AuditOpinion, followed by StateOwn, ConcOwn, TobinQ, InstOwn, and Listedyear. These variables all tend to lead to more timely disclosure of financial information. In contrast, the Big4 variable has the effect of delaying the disclosure of financial reports. This underscores the importance of these factors in determining the timing of financial information disclosure by management. Although not all these factors exert identical influences, they still have a significant impact on this process.

Effect oF Earning Quality on the Cash Holding: Case Study of Enterprises Listed on the Vietnam Stock Market

Thuy Nguyen, Dau Hoang Hung, Ngo Thi Thu Ha, Nguyen Hoang Anh — Sat, 23 Dec 2023 02:26:37 SE Asia Standard Time

Abstract: This paper investigates the relationship between earning quality and cash holdings. The study uses the multivariate regression method FGLS to handle the phenomenon of self-correlation and variance change. The study sample consisted of 403 non-financial companies listed on Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange between 2014-2019 with 2418 observations. Research results indicate that companies with low earning quality hold higher cash. Overall, the author's evidence shows not only that cash balances are positively affected by the presence of greater information asymmetry but also by the existence of low levels of management oversight and the occurrence of losses, both of which reduce the importance of earning quality as a factor determining cash levels.

Factors Influencing the Popularity of Korean Series in Thai People’s Views

Kornwalairath Lumliangpol, Ussanee Malisuwan — Sat, 23 Dec 2023 02:29:20 SE Asia Standard Time

In contrast to several decades ago when choices for entertainment were significantly limited, in the present, a huge amount of people tend to regularly get themselves exposed to the heavy usage of online streaming platforms where they are offered with a wide selection of entertainment contents that they are able to decide on the ones best suited their personal preference and desires to watch, ranging from movies from various genres, TV shows both domestic and international, stand-up comedies, to documentaries. As a result, people are likely to spend more time on screen than ever.

In Thailand, there is also an interesting information regarding the huge load of people spending on several platforms in order to seek for an entertainment, especially ones imported from and created by South Korea. This leads to the research that aims to investigate factors that influence the popularity of Korean series in Thailand based on Thai people’s views. The research explores about 385 samples with different demographical and personal backgrounds in terms of age, gender, and financial status regarding selected factors that could potentially affect their interests in watching and spending their money on Korean series.

The result demonstrates that women whose occupations are mostly working in a private firm, tend to watch Korean series more than men do for 1 up to 2 hours a day. Moreover, specifications of the series are perceived as the main indicator for its popularity: contents, actors and actresses, and varieties. A platform also holds relative significance to the popularity of a Korean series, concerning its accessibility, service management, audio and visual quality, interface, and features. What also contributes to this is how a series is advertised: online, offline, or social media, as well as how it is promoted, seen from its trailers and posters.