The Relationship between Village Funds’ Corporate Governance and their Financial Performance in KhonKaen Province
Article Sidebar
Published:
Sep 24, 2018
Keywords:
Village fund financial performance corporate governance financial ratios
Main Article Content
Abstract
This research aims to investigate village funds’ corporate governance (CG) characteristics, their financial performance and the relationships between the two. The samples were selected from the village funds of four districts in Khon Kaen: City District, Namphong District, Nongrue District, and Chumpae District, which include 817 village funds. The questionnaires were sent and 142 village funds responded.
The results show that among the samples, their financial performances and CG characteristics are different. The regression results reveal that the number of training courses attended by the committee has a significantly positive relationship with the village funds’ performance; on the other hand, their education and experiences have significantly negative association. These imply that the training courses seem to enhance the committee’s ability and knowledge in managing the funds, whereas the education and experiences might not be such important for village funds’ committee if good training is provided. Thus, the regulators of village funds and other related parties should supply good training courses for the committee in order to improve their ability and knowledge, and then possibly increase the funds’ performance.
Article Details
How to Cite
Sutthachai, S., & Likitwongkajorn, N. (2018). The Relationship between Village Funds’ Corporate Governance and their Financial Performance in KhonKaen Province. WMS Journal of Management, 7(3), 99–113. Retrieved from https://so06.tci-thaijo.org/index.php/wms/article/view/147035
Section
Research Articles-Academic Articles
References
Amornrut Raolam (2013). Factors which effected of village community fund management in Surin Province. (in Thai) Master Degree’s Thesis, Surindra Rajabhat University.
Anirut Ratanavitit. (2008). Factors affecting the success of the implementation of one million-baht revolving fund of Wangchan, Rayong Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Chandoevwit, W. & Ashakul, B. (2008). The Impact of the Village Fund on Rural Households. TDRI Quarterly Review, 23(2), 9-16.
Chanjira Promtap. (2005). A comparative study of administrative process on the committee's village and urban community funds in Muang district, KhonKaen province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Chatree Chinchana. (2008). A policy evaluation of government fund for villages and communities. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Chisa Phanphairoj. (2005). A Study of the learning organization management of the urban community fund committee: a case study of the urban community fund in Bangkok’s Sai Mai district. (in Thai) Master Degree’s Thesis, Ramkhamhaeng University.
Chisanupong Rungrojngamcharoen. (2008). Factors and obstacles in implementing village fund in area 6, amphur Muang, provincial administrative organization management, Samutprakan province. (in Thai) Master Degree’s Independent study report, Khon Kaen University.
Dechar Surapon. (2010). The factor which is a success of the village funds and urban communities. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Gisbert, A. & Navallas, B. (2013). The association between voluntary disclosure and corporate governance in the presence of severe agency conflicts. Advances in Accounting, incorporating Advances in International Accounting, 29, 286-298.
Haniffa, R.M. & Cooke, T.E. (2002). Culture, Corporate Governance and Disclosure in Malaysian Corporations, Abacus, 38(3), 317-349.
Jeeranai Suebsod. (2008). Evaluation of village fund through CIPP model application: a case study of Bangetho village fund of Kathu district Phuket province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Jensen, M.C. & Meckling, W.H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(October), 305-360.
Kadsuda Pinchai. (2003). Approaches to develop village fund management in Nong Bo Sod village, San Sai district, Chiang Mai province. (in Thai) Master Degree’s Thesis, Chiang Mai University.
Kaset Rod-Ong. (2004). The village fund committee’s credit operation competency in Somdet district, Kalasin province. (in Thai) Master Degree’s Thesis, KhonKaen University.
Kitisak Pudpasee. (2008). The performance of village fund in Banthisubdistrict, Banthi district, Lumphun province. (in Thai) Master Degree’s Thesis, KhonKaen University.
Kittiporn Chuarweerachon. (2007). The study of administration of tambonKampangdin village fund: Samngam district, Phichitprovince. (in Thai) Master Degree’s Thesis, KhonKaen University.
Metta Krishnawan. (2008). The internal control system of the village and urban fund: A case study of Ban Huai Bong, Tambon ThaYai, Amphoe Mueang, Chiang Rai. (in Thai) Master Degree’s Thesis, Payap University.
Muttakin, M.B., Khan, A. & Belal, A.R. (2015). Intellectual capital disclosures and corporate governance: Am empirical examination. Advances in Accounting, incorporating Advances in International Accounting, 31, 219-227.
Ouyporn Wongkhananurak. (2005). Participative management related to efficiency in managing village funds and city community funds Khon Kaen Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Panupol Tengrikanon. (2008). The study of administration village fund of Banthachang Tambon Thabua, Photale Distrct, Phichit Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Pradit Nattayai. (2006). The Development of alternative welfare: A case study of community in Khon Kaen province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Prajak Ponroung. (2003). Development of village fund management models. (in Thai) Doctoral Degree’s Dissertation, Khon Kaen University.
Pramote Grumsungnoen. (2009). Management of village and urban community fund in Banmuangkhao, Tambon Korat, Sungneon District, Nakhonratchasima Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Prasit Pahome. (2004). The study of performance of the village and urban community fund in Khon Kaen. (in Thai) Master Degree’s Thesis, KhonKaen University.
Punchaporn Srichanapun, Worapan Khiewrujee & Paweena Siripun. (2015). Factors Affecting Problems in Conducting Village Fund Accounting in Mueang Lampang District, Lampang Province. Journal of Community Development Research (Humanities and Social Sciences), 8(2), 88-97.
Sangdaw Numfa. (2008). Factors affecting the success of the implementation of the village fund project of Laemchabang sub district municipality, Sriracha, Chonburi province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Sarawute Sannawin. (2004). Efficiency of village and community fund management case study of: member in Amphoe Maung, Khon Kaen Province. (in Thai) Master Degree’s Thesis, KhonKaen University.
Siriluck Sutthachai & Napaporn Likitwongkajon (2008). Assessing financial performance of Village Funds in Khon Kaen. (in Thai) KKU Research Journal: Humanities and Society, 13(11), 1257–1272.
Siriporn Siripanyawat & Sakorn Srisawat. (2007). Factors affecting the operation of village and urban fund in the northern region. Northern Region Economic Report. (in Thai) Bank of Thailand North Region Office.
Siriwanna Grapanja. (2004). Factors affecting the potential of the village fund in Amphoe Muang, Phattalung Province. (in Thai) Master Degree’s Thesis, Prince of Songkla University.
Somboon Warinsuk. (2007). Management of village fund by village fund board case study of Tambon Nakhon Sawantok, Mueng District, Nakhon Sawan Province. (in Thai) Master Degree’s Independent study Report, Khon Kaen University.
Somjai Khumoud. (2008). The building strength of village funds Tangam Sub-District, Watbot District, Phitsanulok Province. (inThai) Master Degree’s Thesis, Khon Kaen University.
Somporn Sotthirawaraporn. (2008). Achievement of the village fund of Ban Takraengbon: Vichit Sub-District, Muang District, Phuket Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Surapan Noisuwan. (2008). Ban nhongwang Moo 1Nhongwang sub district, Prayuean District, Khon Kaen Province village fund management. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Synthesis Board of Phetchaburi Rajabhat Institute. (2003). Evaluation of the Village and Urban Fund: Case study in Prachuap Khiri Khan Province. (in Thai) Synthesis Research Report, Phetchaburi Rajabhat University.
Thanabordi Promchan. (2010). Village fund management in Tambon Pakbang municipality Amphoe Phromburi ,changwatSingburi. (in Thai) Master Degree’s Thesis, Khon Kaen University.
The Bank of Thailand. (2003). Risk Assessment Guidelines for Financial Institutions. (in Thai) Retrieved February, 21, 2017. From http://www.bot.or.th.
The Stock Exchange of Thailand. (2012). Good Corporate Governance Principles. Retrieved July, 20, 2017. From https://www.set.or.th/sustainable_dev/en/cg/files/2013/CGPrinciple2012Thai-Eng.pdf.
Anirut Ratanavitit. (2008). Factors affecting the success of the implementation of one million-baht revolving fund of Wangchan, Rayong Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Chandoevwit, W. & Ashakul, B. (2008). The Impact of the Village Fund on Rural Households. TDRI Quarterly Review, 23(2), 9-16.
Chanjira Promtap. (2005). A comparative study of administrative process on the committee's village and urban community funds in Muang district, KhonKaen province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Chatree Chinchana. (2008). A policy evaluation of government fund for villages and communities. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Chisa Phanphairoj. (2005). A Study of the learning organization management of the urban community fund committee: a case study of the urban community fund in Bangkok’s Sai Mai district. (in Thai) Master Degree’s Thesis, Ramkhamhaeng University.
Chisanupong Rungrojngamcharoen. (2008). Factors and obstacles in implementing village fund in area 6, amphur Muang, provincial administrative organization management, Samutprakan province. (in Thai) Master Degree’s Independent study report, Khon Kaen University.
Dechar Surapon. (2010). The factor which is a success of the village funds and urban communities. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Gisbert, A. & Navallas, B. (2013). The association between voluntary disclosure and corporate governance in the presence of severe agency conflicts. Advances in Accounting, incorporating Advances in International Accounting, 29, 286-298.
Haniffa, R.M. & Cooke, T.E. (2002). Culture, Corporate Governance and Disclosure in Malaysian Corporations, Abacus, 38(3), 317-349.
Jeeranai Suebsod. (2008). Evaluation of village fund through CIPP model application: a case study of Bangetho village fund of Kathu district Phuket province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Jensen, M.C. & Meckling, W.H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(October), 305-360.
Kadsuda Pinchai. (2003). Approaches to develop village fund management in Nong Bo Sod village, San Sai district, Chiang Mai province. (in Thai) Master Degree’s Thesis, Chiang Mai University.
Kaset Rod-Ong. (2004). The village fund committee’s credit operation competency in Somdet district, Kalasin province. (in Thai) Master Degree’s Thesis, KhonKaen University.
Kitisak Pudpasee. (2008). The performance of village fund in Banthisubdistrict, Banthi district, Lumphun province. (in Thai) Master Degree’s Thesis, KhonKaen University.
Kittiporn Chuarweerachon. (2007). The study of administration of tambonKampangdin village fund: Samngam district, Phichitprovince. (in Thai) Master Degree’s Thesis, KhonKaen University.
Metta Krishnawan. (2008). The internal control system of the village and urban fund: A case study of Ban Huai Bong, Tambon ThaYai, Amphoe Mueang, Chiang Rai. (in Thai) Master Degree’s Thesis, Payap University.
Muttakin, M.B., Khan, A. & Belal, A.R. (2015). Intellectual capital disclosures and corporate governance: Am empirical examination. Advances in Accounting, incorporating Advances in International Accounting, 31, 219-227.
Ouyporn Wongkhananurak. (2005). Participative management related to efficiency in managing village funds and city community funds Khon Kaen Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Panupol Tengrikanon. (2008). The study of administration village fund of Banthachang Tambon Thabua, Photale Distrct, Phichit Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Pradit Nattayai. (2006). The Development of alternative welfare: A case study of community in Khon Kaen province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Prajak Ponroung. (2003). Development of village fund management models. (in Thai) Doctoral Degree’s Dissertation, Khon Kaen University.
Pramote Grumsungnoen. (2009). Management of village and urban community fund in Banmuangkhao, Tambon Korat, Sungneon District, Nakhonratchasima Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Prasit Pahome. (2004). The study of performance of the village and urban community fund in Khon Kaen. (in Thai) Master Degree’s Thesis, KhonKaen University.
Punchaporn Srichanapun, Worapan Khiewrujee & Paweena Siripun. (2015). Factors Affecting Problems in Conducting Village Fund Accounting in Mueang Lampang District, Lampang Province. Journal of Community Development Research (Humanities and Social Sciences), 8(2), 88-97.
Sangdaw Numfa. (2008). Factors affecting the success of the implementation of the village fund project of Laemchabang sub district municipality, Sriracha, Chonburi province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Sarawute Sannawin. (2004). Efficiency of village and community fund management case study of: member in Amphoe Maung, Khon Kaen Province. (in Thai) Master Degree’s Thesis, KhonKaen University.
Siriluck Sutthachai & Napaporn Likitwongkajon (2008). Assessing financial performance of Village Funds in Khon Kaen. (in Thai) KKU Research Journal: Humanities and Society, 13(11), 1257–1272.
Siriporn Siripanyawat & Sakorn Srisawat. (2007). Factors affecting the operation of village and urban fund in the northern region. Northern Region Economic Report. (in Thai) Bank of Thailand North Region Office.
Siriwanna Grapanja. (2004). Factors affecting the potential of the village fund in Amphoe Muang, Phattalung Province. (in Thai) Master Degree’s Thesis, Prince of Songkla University.
Somboon Warinsuk. (2007). Management of village fund by village fund board case study of Tambon Nakhon Sawantok, Mueng District, Nakhon Sawan Province. (in Thai) Master Degree’s Independent study Report, Khon Kaen University.
Somjai Khumoud. (2008). The building strength of village funds Tangam Sub-District, Watbot District, Phitsanulok Province. (inThai) Master Degree’s Thesis, Khon Kaen University.
Somporn Sotthirawaraporn. (2008). Achievement of the village fund of Ban Takraengbon: Vichit Sub-District, Muang District, Phuket Province. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Surapan Noisuwan. (2008). Ban nhongwang Moo 1Nhongwang sub district, Prayuean District, Khon Kaen Province village fund management. (in Thai) Master Degree’s Thesis, Khon Kaen University.
Synthesis Board of Phetchaburi Rajabhat Institute. (2003). Evaluation of the Village and Urban Fund: Case study in Prachuap Khiri Khan Province. (in Thai) Synthesis Research Report, Phetchaburi Rajabhat University.
Thanabordi Promchan. (2010). Village fund management in Tambon Pakbang municipality Amphoe Phromburi ,changwatSingburi. (in Thai) Master Degree’s Thesis, Khon Kaen University.
The Bank of Thailand. (2003). Risk Assessment Guidelines for Financial Institutions. (in Thai) Retrieved February, 21, 2017. From http://www.bot.or.th.
The Stock Exchange of Thailand. (2012). Good Corporate Governance Principles. Retrieved July, 20, 2017. From https://www.set.or.th/sustainable_dev/en/cg/files/2013/CGPrinciple2012Thai-Eng.pdf.