NIDA Business Journal

Saving Behavior of Thai Elderly

2025-07-04T09:28:40+07:00

Demographic transitions have heightened the importance of understanding savings adequacy among the elderly as a key component of policy design to address population aging. In Thailand, where the elderly population is expanding rapidly amid middle-income status and fiscal constraints, this study investigates the economic and social determinants of savings adequacy for older individuals. Specifically, the analysis tests the role of financial literacy and cognitive ability in influencing adequate savings, while also examining the demand for asset management assistance. Utilizing survey data from 1,010 individuals aged 55 to 75 across representative provinces, the findings indicate that occupation, income, and health status are significant predictors of savings adequacy. Contrary to theoretical expectations, neither financial literacy nor cognitive ability exhibits a statistically significant association with adequate savings. Furthermore, demand for asset management assistance is primarily observed among elderly individuals with outstanding debt, while low income and limited social capital are not significant drivers of such demand. These results underscore the multifaceted nature of savings behavior among the elderly, shaped by economic, social, and health factors. The findings suggest that policy interventions aimed at enhancing retirement preparedness should adopt an integrated approach, as financial education alone may be insufficient to improve savings outcomes.

Barriers and Drivers of e-Tax System Acceptance: A Quantitative Case Study from Thailand

2025-07-25T10:55:59+07:00

This quantitative case-study research examines the factors that influenced customer acceptance of the e-Tax invoice by e-mail channel during Company XYZ’s 2022 implementation in Thailand. Data from 251 corporate clients in five Sales Areas (SA) were analyzed with multiple regression and one-way ANOVA. Perceived Usefulness (PU) (β = .19, p = .001), Perceived Ease of Use (PEOU) (β = .21, p = .001) and Attitude Toward Using (ATT) (β = .54, p < .001) all showed significant positive effects on Behavioral Intention (BI) and together explained 49 percent of its variance. Tukey post-hoc tests revealed that clients in Bangkok and Vicinity, the Central region and the East scored higher on intention than those in the North and Northeast (p < .001), underscoring a regional digital divide that complicated deployment. The results indicate that seamless system integration, low set-up effort and positive user attitudes were critical success factors, whereas weak infrastructure in the North and Northeast remained a major barrier. Recommendations include bundling digital-signature certificates with onboarding and partnering with regional internet service providers. The findings offer transferable lessons for other Thai SMEs planning similar e-Tax implementations.

An Empirical Test of the Weak-Form Efficiency: the Case of Thai Equity Mutual Funds

2025-09-26T13:48:43+07:00

Most studies on weak-form efficient market hypothesis (Fama, 1970) were done on stock indices or individual stocks. To fill such gap, this study rather tests weak-form market efficiency on Thai equity mutual funds. The results from both runs tests and variance ratio tests on 40 Thai equity mutual funds’ daily returns from March 2019 to December 2024 indicate that we cannot reject the null hypothesis that the daily returns of up to 37 to 39 funds are random or independent, supporting the weak-form efficiency of the returns of the funds under study.

Patterns of Cash Flows Information and Its Relationship with Stock Prices of the Listed Companies in Thailand

2025-10-20T16:08:24+07:00

This study explores patterns of cash flows information of the Thai Listed Companies during 2017-2022. The sample was divided into eight groups based on the signs on cash flows from each activity and assigned the levels of industry life cycle. This study finds that the pattern of the largest group is in shake-out stage. Mostly, the results show positive relationship between net cash flows from operations and stock prices in various patterns. The results also show positive relationship between net cash flows from investing activities and stock prices in the shake-out stage. In the group with negative net cash flows from financing activities, and positive net cash flows from operation, net cash flows from financing activities has negative relationship with stock prices, while the rest of the sample shows positive relationship. This study concludes that cash flows information should not be interpreted from the sign of each item separately. It should be used integratedly and holistically.