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This qualitative research aimed to study 1) knowledge integration capability and 2) knowledge integration capability that demonstrated the entrepreneurial orientation within the silk groups in Pakthonghai District, Nakhon Ratchasima Province. Supporting research data was collected from in-depth interviews of six silk group leaders and members (out of eleven identified groups). A content analysis method was used for data evaluation in order to find evidence-based inferences, identify causal relationships, and investigate the correlations. According to the result, the silk groups’ knowledge integration capability was built upon the following three perspectives: learning culture, knowledge management capability and information technology skill. 1) Learning Culture derived from the groups’ determination to produce and maintain high quality standards in their silk products while making use of knowledge learned from customers, competitors, governments, and previously experienced business problems. 2) Knowledge management capability described the ability to retain knowledge inherited from previous generations and exchange information among group members during training and practice. Once the new set of knowledge was created by a member, it was then relayed to other group members and used to develop their silk products according to the market demand. 3) Information technology had been used by Pakthongchai silk groups to manage their silk production knowledge. These established elements had assisted them in obtaining an outstanding entrepreneurial skills.

Objective - The objectives of this research include: (1) to identify working capital investment policy and working capital financing policy, (2) to study the effect of working capital investment policy on profitability, and (3) to study the effect of working capital financing policy on profitability. Methodology/Technique - 41 firms in the agro-food industry listed on the Stock Exchange of Thailand are examined in this study. Secondary data was collected and analyzed within a 5-year period between 2013-2017. Findings - The results show that the most frequently employed working capital investment policy is the aggressive approach (46.30%), and the most frequently employed financial policy is the moderate approach (82.90%). According to the inferential statistics, it is concluded that: (1) profitability is significantly affected by the choice of working capital investment policy and a moderate investment policy results in the greatest profitability, and (2) profitability is not affected by the choice of working capital financing policy. Novelty - As a result, firms should focus on the selection of a moderate working capital investment policy when seeking to maximize profits. On the other hand, any type of working capital financing policy (aggressive, conservative, or moderate approach) is appropriate. Type of Paper Empirical Keywords: Working Capital Policy; Profitability; Agro and Food Industry; Thailand. JEL Classification: M10, M40, M41.

The model is found to be consistent with the empirical data; the probability level is 0.085, χ 2/df is 2.96, CFI is 0.951, GFI is 0.979, IFI is 0.957, and RMR is 0.004. The result reveals a statistically significant positive relationship between working capital investment policy and profitability. In addition, working capital investment policy affects market value through profitability as a mediator variable. However, there are significant negative impacts of working capital financing policy on profitability and market value. Overall, it can be implied that companies which adopt conservative working capital investment policy and conservative working capital financing policy can increase their profitability and market value.

This is mixed qualitative and quantitative research of SMEs food enterprises which conducted in Thailand. Qualitative research is applied aims to investigate WCM system of firms. The results reveal that food enterprises generally set goal considered liquidity, risk and profits. Moreover, businesses have developed the suitable policy and WCM strategy and are able to achieve the WCM goal in operational evaluation. Second phrase using path analysis focuses on the impact of WCM on profitability by using financial ratios and time period of cash as indicators to assess WCM efficiency of firms. The result shows that the proposed model has an impact on profitability and conforms to the collected empirical data. The company is able to increase its profitability by aiming at high liquidity in working capital management. In addition, shortening receivable collection period and inventory conversion period along with extending payable deferral period help also to gain higher profit.

This paper investigated the impact of working capital management on firms' performance, profitability and market value. This study divided working capital management into two dimensions which are static working capital management and dynamic working capital management. The main focus of this study was 381 listed companies in the Stock Exchange of Thailand (SET). Secondary data collected from 2013 to 2017 was analysed by using the path analysis method. The results manifested in three aspects, (1) the direct effects of the static working capital management on the market value, (2) the direct effects of the dynamic working capital management on the profitability and market value, and (3) the indirect effects of the static and dynamic working capital management on the market value through profitability. The results also suggested a profitability and market value increase when the listed companies have a high current ratio and short cash conversion cycle.