Factors influencing opportunity driven nascent entrepreneurs in Europe and Asia

The purpose of this study was to investigate factors influencing to become opportunity driven entrepreneurs. Based on Global Entrepreneurship Monitor (GEM) data in 2015, 7,465 samples of nascent entrepreneurs from 13 countries of Europe (n=3,678), and 10 countries of Asia (n=3,787) were analyzed by logistic regression technique. A range of cognitive and demographic factors were examined. The result showed that perceived business opportunity, fear of failure, and education level are the significant antecedent factors to become an opportunity driven nascent entrepreneur for both Europe and Asia. Entrepreneurial networking and self efficacy were found to influence the likelihood to become an opportunity driven nascent entrepreneur for Asia but not in Europe. Logistic regression analysis also showed that young people seemed to become an opportunity driven nascent entrepreneurs than senior people. Education level had a positive effect on a chance to become an opportunity derive entrepreneurs. Policy implications and finding results have been discussed.peer-reviewe

The Role of Viral Marketing in Social Media on Brand Recognition and Preference

Viral marketing is one of the most effective and imperative marketing strategies. The prominence of digital technology and social media has elevated the importance of viral marketing campaigns by increasing their cost efficiency and enabling them to reach targeted audiences rapidly. This study aimed to examine the influence of viral marketing strategies on brand recognition and brand preference by developing a framework for the effectiveness of viral marketing (7I’s) in social media contexts and testing the associations among the 7I’s, brand recognition and brand preference. A quantitative research method with a structured questionnaire as the research tool was employed to collect data from a total of 286 respondents in Thailand. Structural equation modelling (SEM) was utilized to test the proposed hypotheses. The results showed that effective viral marketing relates positively to brand recognition (b = 0.440) and preference (b = 0.298). The mediation analysis also revealed that brand recognition partially mediates the relationship between effective viral marketing and brand preference. In terms of the moderating effects, the results indicated a stronger influence for effective viral marketing on brand preference among younger respondents (b = 0.336) than among older respondents (b = 0.278). This research makes a significant contribution to the existing literature by validating a theory-driven framework based on the novel concept of the 7I’s and its potential effect on customers’ brand perceptions. Doi: 10.28991/esj-2021-01315 Full Text: PD

Unveiling the Power of ESG: How it Shapes Brand Image and Fuels Purchase Intentions - An Empirical Exploration

Nowadays, with a widespread increase in awareness of environmental concerns, the ESG concept has been acknowledged as one of the most vital strategic movements for firms. This paper explores the effect of ESG activities on brand image and customers’ purchase intentions. The moderating effects of a range of sociological factors are also investigated. Based on 168 samples of Thai participants, survey research with an online questionnaire tool was employed to collect the data with structural equation modelling (SEM) to test hypotheses and verify the conceptual framework of this study. The results showed that all environmental, social, and governance activities significantly affect brand image and customers’ purchase intentions. For brand image as a consequence of ESG activities, social activities (b = 0.511) play the strongest role, followed by environmental (b = 0.482) and governance (b = 0.434) activities. On the other hand, environmental activities (b = 0.420) of the ESG concept strongly influence customers' purchase intentions, followed by social (b = 0.395) and governance activities (b = 0.309). Additionally, the moderation analysis found that the effects of ESG activities on brand image and purchase intentions vary depending on gender, age, and education level. These findings provide a deeper understanding of the ESG concept for both academics and practitioners. This paper offers implications and recommendations for further research based on the outcomes. Doi: 10.28991/HIJ-2022-03-04-07 Full Text: PD

What skills do nascent entrepreneurs need? The evidence from Thailand

The purposes of this study are (1) to investigate the entrepreneurial skills situation of Thai nascent entrepreneurs (2) to study the influence of entrepreneurial skills towards business growth expectation of Thai nascent entrepreneurs. The sample consisted of 1,000 Thai entrepreneurs having been juristic person or commercial registered less than 2 years. Multi-stage sampling method was used to collect the data by using questionnaire as the research instrument. The result shows that Thai nascent entrepreneurs have the highest level of readiness in technological skill (4.08), marketing skill (3.99), managerial skill (3.96), human resource skill (3.66) and accounting and financial skill (3.41) ranked lowest. Additionally, the results of hypothesis testing show that (1) entrepreneurial skills statistically significantly influence on business growth expectation of Thai nascent entrepreneurs. (2) High entrepreneurial skill entrepreneurs have significantly higher level of business growth expectation than counterparts.peer-reviewe

Consumers’ Attitude towards Digital Social Responsibility: Impacts on Electronic Word of Mouth and Purchase Intention

Social responsibility is understood to be one of the crucial strategic responsibilities for organizations across the globe. In the digital era, firms have transformed social responsibility initiatives into digital platforms. This study aims to investigate the effects of digital social responsibility (DSR) on electronic word of mouth (eWOM) and purchase intention (PI) in the social media context. This survey research is based on 214 samples, collected via an online questionnaire as a research tool. Structural equation modelling has been used to validate the proposed hypotheses. The results show that perceived DSR has significant positive influence on consumers’ attitude (b = 0.408) and eWOM (b = 0.238). The mediation analysis indicates that consumers’ attitude partially mediates the relationship between DSR and eWOM (DE = 0.238, IE = 0.154), and fully mediates the relationship between DSR and PI (DE = 0.08, IE = 0.173). Since few previous studies have explored the impact of DSR toward eWOM and PI, our study confirms the effects of DSR on consumers’ attitudes and eWOM. This empirical study can provide managers with further understanding of the effects of DSR via social media on consumers’ attitude and eWOM. Our results should also encourage firms to implement DSR initiatives to enhance consumers’ positive attitudes and spread positive word of mouth about firms. Doi: 10.28991/ESJ-2022-06-01-05 Full Text: PD

Mobile banking adoption in Thailand : an integration of technology acceptance model and mobile service quality

The purpose of this study is to investigate the factors that influence a consumer’s intentions to use mobile banking. A web-based survey was employed to collect data from 348 samples of all owners of a mobile device and have experienced with mobile banking applications provide by private banks in Thailand. The proposed model of mobile banking adoption in this study was based on the Technology Acceptance Model (TAM) and Mobile Service Quality (MSQ). Structural equation modeling (SEM) was used to analyze the data. The results revealed that support for the positive effect of perceived ease of use, perceived usefulness and mobile service quality toward mobile banking adoption intentions. Therefore, Banks should emphasize on strategies to enhance benefit perceptions of mobile banking by taking these factors into account. This study is also one of the first to examine a combined TAM and MSQ model in the context of m-banking adoption. Theoretical and practical implications of results are discussed in the paper.peer-reviewe

Exploring Factors Influencing Open Innovation Adoption in SMEs: The Evidence from Emerging Markets

Open Innovation (OI) is among the vital innovation paradigms for assisting small and medium enterprises (SMEs) to effectively implement innovation initiatives. Drawing on the concepts of organisational agility and absorptive capacity with transaction cost theory, this study’s goal is to investigate factors affecting the adoption of an Open Innovation (OI) orientation in Thai SMEs. Using data from 214 SMEs in Thailand, structural equation modelling validated the model and analysed the proposed hypotheses. The results show that organisational agility, economic and financial readiness and absorptive capacity relate positively to OI adoption and innovation performance. Organisational agility (b = 0.553) had the greatest influence on OI adoption, then economic and financial readiness (b = 0.405) and absorptive capacity (b = 0.387) followed. The results of mediation analysis also reveal that OI adoption partially mediates the effects of organisational agility and absorptive capacity on innovation performance. Our study provides a trailblazing empirical analysis of the major factors influencing SMEs’ OI adoption and performance, extending knowledge of OI adoption by SMEs in emerging economies. The paper proposes a holistic framework for examining SMEs’ OI adoption and performance, through the integration of organisational agility, absorptive capacity and transaction-cost concepts. Doi: 10.28991/esj-2021-01295 Full Text: PD

Comprensión De La Responsabilidad Social Digital En El Contexto De Las Redes Sociales: Evidencia De Tailandia

Purpose: Organizations across the world consider social responsibility to be one of their most important strategic obligations. In the digital era like nowadays, firms have transformed social responsibility programs into digital platforms - digital social responsibility (DSR). The purpose of this study is to see how DSR affects online word of mouth (Online WOM) and purchasing intent (PI) in the setting of social media. Methodology: Data were collected via an online survey among a sample of 157 students from higher education institutions in Thailand. The proposed hypotheses were analyzed and evaluated using structural equation modelling (SEM) in this study. Findings: The findings revealed that customers' perceptions (CPN) and online WOM are highly influenced by perceived DSR. CPN slightly mediated the link between DSR and online WOM, and totally mediated the relationship between DSR and PI, according to the mediation analysis. Research, Practical & Social implications: Our analysis verifies the influence of DSR on customers' perceptions and online WOM, despite the fact that few previous studies have looked into the impact of DSR on online WOM and PI. This empirical study can help managers better grasp the effects of DSR on consumer perceptions and online WOM via social media. Originality: This study is a pioneering attempt to test the applicability of the DSR activities in social media context on customer’s perception and behavior. The findings should also motivate businesses to conduct DSR activities in order to improve favorable consumer perceptions and spread positive word of mouth about their businesses.Propósito: Las organizaciones de todo el mundo consideran que la responsabilidad social es una de sus obligaciones estratégicas más importantes. En la era digital como en la actualidad, las empresas han transformado los programas de responsabilidad social en plataformas digitales: responsabilidad social digital (DSR). El propósito de este estudio es ver cómo DSR afecta el boca a boca en línea (Online WOM) y la intención de compra (PI) en el entorno de las redes sociales. Metodología: Los datos se recopilaron mediante una encuesta en línea entre una muestra de 157 estudiantes de instituciones de educación superior en Tailandia. Las hipótesis propuestas fueron analizadas y evaluadas utilizando modelos de ecuaciones estructurales (SEM) en este estudio. Hallazgos: Los hallazgos revelaron que las percepciones de los clientes (CPN) y el WOM en línea están muy influenciados por la percepción de DSR. CPN mediaba ligeramente el vínculo entre DSR y WOM en línea, y mediaba totalmente la relación entre DSR y PI, según el análisis de mediación. Investigación, implicaciones prácticas y sociales: Nuestro análisis verifica la influencia de DSR en las percepciones de los clientes y WOM en línea, a pesar de que pocos estudios previos han analizado el impacto de DSR en WOM y PI en línea. Este estudio empírico puede ayudar a los gerentes a comprender mejor los efectos de DSR en las percepciones de los consumidores y WOM en línea a través de las redes sociales

The Development of the Entrepreneurial Spirit Index: An Application of the Entrepreneurial Cognition Approach

Entrepreneurship has been recognized as one of the crucial mechanisms for a nation’s sustainable economic development. Entrepreneurship is a key engine that propels economic growth and employment opportunity creation. The purposes of this study are: (1) to develop and validate the Thailand Entrepreneurial Spirit Index (THESI) in combination with multidimensional entrepreneurial cognition scales, by examining the attitudes, motivations, and ambitions of individuals starting businesses; and (2) to investigate the impacts of a multitude of perception factors and demographic factors on entrepreneurial intent. Based on 1,180 samples of the Thai population collected via a telephone survey in 2021, the results of tetrachoric correlation and factor analysis showed that the THESI index can be formulated and explained by six variables: entrepreneurial intent (b = 0.690), opportunity recognition (b = 0.711), self-skill perception (b = 0.935), entrepreneurial networking (b = 0.743), perceived ease of doing business (b = 0.470), and fear of failure (b = –0.118). The results of binary logistic regression analysis revealed that opportunity recognition, self-skill perception, entrepreneurial networking, perceived ease of doing business, and fear of failure have significant effects on entrepreneurial intent. Interestingly, females are 36.6% less likely than males to declare entrepreneurial intent. Older adults over age 61 indicate significantly lower entrepreneurial intent, at 76.8%, compared with younger people 18 to 30 years old. The amount of formal education a person possesses has a considerable negative impact on their desire to start a business. The group of respondents holding above a bachelor’s degree sample shows 22.0% lower entrepreneurial intent than the group holding a bachelor’s degree or below. Our research is among the few pioneering efforts to provide an improved idea of how to quantify an unlikely, non-measurable concept: the entrepreneurial spirit. This novel THESI index will help national entrepreneurial policymakers evaluate the degrees of entrepreneurship at a societal level. The value of this THESI index relies upon applied simpler metrics to portray a key issue related to the interpretation of entrepreneurship at the societal level. Doi: 10.28991/ESJ-2022-06-03-05 Full Text: PD