This study seeks to explore the information value of free cash flow (FCF) on corporate sustainability and investigate the moderating effects of board gender diversity and firm size on the association between FCF and corporate sustainability of Thai listed companies. The dataset consists of companies listed on the Stock Exchange of Thailand (SET) in 2022. Multivariate regression analysis is executed in this study. Subsequently, PROCESS macro served to evaluate the proposed hypotheses. This study found that FCF has a significant positive relationship with corporate sustainability. As well, board gender diversity and firm size both moderate the relationship between FCF and corporate sustainability, such that the positive effect of FCF on corporate sustainability is stronger when the proportion of female boards diminishes, while firm size is smaller. However, when firms have a larger proportion of females on the boards of directors for all levels of firm size, free cash flow indicates that there is no statistically significant effect on corporate sustainability. This study contributes to FCF and sustainability literature by understanding the extent of corporate sustainability.
In the human and economic development context, this study examines the relationship between human capital, life expectancy, labor force participation rate, and education level in Indonesia, Malaysia, and Thailand. The World Bank’s 2001–2021 data are examined using a panel vector autoregressive model. The findings demonstrate the substantial influence of health expenditure from the prior period on present health expenditure. Though not significantly different, life expectancy and education levels from earlier periods also impact present health spending. A slight positive correlation exists between prior labor force involvement and present healthcare costs. An increase in current health expenditure supports an increase in life expectancy. Health expenditure in the previous period had a significant positive effect on education, although insignificant. Life expectancy in the previous period harms current education but is also insignificant. Education in the previous period significantly positively affects current education, indicating a sustained impact of education investment. Labor force participation in the previous period also positively affected education, although not significantly. The prior period’s health spending, life expectancy, and educational attainment impact the current labor force participation rate. The length of life has a significant favorable impact on entering the labor sector. Currently being in the job field has a good correlation with prior education as well. These findings support that higher education levels lead to higher labor force participation rates. Life expectancy, health care costs, education level, and prior work experience all influence current life expectancy. While prior life expectancy significantly influences current life expectancy, health expenditures have a negligible negative impact. Prior education positively impacts life expectancy but negatively impacts prior labor force engagement. These results reject the hypothesis that increasing life expectancy causes current health expenditure to increase.
COVID-19 has presented considerable challenges to fiscal budget allocations in developing countries, significantly affecting decisions regarding number of investments in the transport sector where precise resource allocation is required. Elucidating the long-term relationship between public transport investment and economic growth might enable policymaker to effectively make a decision in regard to those budget allocation. Our paper then utilizes Thailand as a case study to analyze the effects on economic growth in a developing country context. The study employs Cointegration and Vector Error Correction Model (VECM) techniques to account for long-term correlations among explanatory variables during 1991–2019. The statistical findings reveal a significantly positive correlation between transport investment and economic growth by indicating an increase of 0.937 in economic growth for every one-percent increment in transport investment (S.D. = 0.024, p < 0.05). This emphasizes the potential of expanding the transport investment to recover Thailand’s economy. Furthermore, in terms of short-term adjustments, our results indicate that transport investment can significantly mitigate the negative impact of external shocks by 0.98 percent (p < 0.05). These findings assist policymakers in better managing national budget allocations in the post-Covid-19 period, allowing them to estimate the duration of crowding-out effects induced by shocks more effectively.
The government’s increased cigarette tariff aims to lower smoking rates and avoid adverse impacts. This study’s goal was to offer process innovation for lowering Asian’ smoking behavior. The participants were chosen by stratified random selection from a total of 738 people residing in Pathum Thani Province, Thailand. The instrument was a questionnaire. A software programmer was used to examine descriptive and inferential statistics using EFA and one-way ANOVA techniques. A strategic framework guideline using a SWOT analysis and TOWS matrix to encourage smoking reduction was proposed. The findings revealed two components: smoking behavior change and continues smoking that were based on SWOT analysis and TOWs matrix. There were nine strategies for the excise department to consider for the adjustment of the next policy in terms of reducing the number of smokers. The practical and policy suggestions could help reduce the negative impact of the cigarette industry on public health and increase government revenue while addressing weaknesses and threats in the industry.
This research explores the dynamic intersection of sustainable design, cultural heritage, and community enterprise, focusing on the innovative utilization of post-harvest sugar cane leaves in bamboo basketry production from various provinces in Thailand. This study aims to investigate how design anthropology principles can enhance community enterprises’ resilience and sustainability by employing a qualitative case study approach. Findings reveal that while traditional bamboo basketry reflects the region’s rich cultural heritage, a shift towards sustainable practices offers environmental benefits and economic opportunities. Design anthropology informs the development of culturally relevant products, fostering market competitiveness and preserving traditional craftsmanship. Moreover, government policies play a pivotal role in supporting or hindering the growth of community enterprises, with soft power initiatives holding promise for promoting cultural heritage and sustainability. Collaboration between policymakers, design anthropologists, and local stakeholders is essential for developing inclusive policies that empower communities and foster sustainable development. Overall, integrating sustainable design practices and cultural insights holds significant potential for enhancing the resilience and effectiveness of community enterprises, ensuring a prosperous and sustainable future for both the industry and the communities it serves. This study is a testament that design anthropology provides a powerful framework for addressing complex social and environmental issues through the lenses of culture and design.
Providing and using energy efficiently is hampered by concerns about the environment and the unpredictability of fossil fuel prices and quantities. To address these issues, energy planning is a crucial tool. The aim of the study was to prioritize renewable energy options for use in Mae Sariang’s microgrid using an analytical hierarchy process (AHP) to produce electricity. A prioritization exercise involved the use of questionnaire surveys to involve five expert groups with varying backgrounds in Thailand’s renewable energy sector. We looked at five primary criteria. The following four combinations were suggested: (1) Grid + Battery Energy Storage System (BESS); (2) Grid + BESS + Solar Photovoltaic (PV); (3) Grid + Diesel Generator (DG) + PV; and (4) Grid + DG + Hydro + PV. To meet demand for electricity, each option has the capacity to produce at least 6 MW of power. The findings indicated that production (24.7%) is the most significant criterion, closely followed by economics (24.2%), technology (18.5%), social and environmental (18.1%), and structure (14.5%). Option II is strongly advised in terms of economic and structural criteria, while option I has a considerable advantage in terms of production criteria and the impact on society and the environment. The preferences of options I, IV, and III were ranked, with option II being the most preferred choice out of the four.
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