How Could Digital Transformation Help Medium-Sized Enterprises Access Thailand’s New Capital Market Financing (LiVEx) to Support Sustainable Growth in the Digital Economy Era?

Rhatsarun Tanapaisankit, Somboon Sirisunhirun (), Somsak Amornsiriphong, Krish Rugchatjaroen and Phut Ploywan
Additional contact information
Rhatsarun Tanapaisankit: Faculty of Social Sciences and Humanities, Mahidol University, Nakhon Pathom 73170, Thailand
Somboon Sirisunhirun: Faculty of Social Sciences and Humanities, Mahidol University, Nakhon Pathom 73170, Thailand
Somsak Amornsiriphong: Faculty of Social Sciences and Humanities, Mahidol University, Nakhon Pathom 73170, Thailand
Krish Rugchatjaroen: Faculty of Social Sciences and Humanities, Mahidol University, Nakhon Pathom 73170, Thailand
Phut Ploywan: Faculty of Social Sciences and Humanities, Mahidol University, Nakhon Pathom 73170, Thailand

Sustainability, 2024, vol. 16, issue 8, 1-20

Abstract: In today’s modern era, digital transformation serves as a crucial element for organizations to gain a competitive edge and optimize their operating systems. However, medium-sized enterprises in Thailand face difficulties in accessing capital market financing, despite its significance in promoting the development of small- and medium-sized enterprises according to the 13th National Economic and Social Development Plan. One potential solution to this issue is digital transformation, which can help these enterprises achieve their strategic business objectives and find a reliable source of funding while enhancing their reputation and credibility, thereby contributing to the growth of the economy as a whole. This study utilized a mixed-methods approach to explore how digital transformation can assist medium-sized enterprises in accessing LiVEx, a new capital market for Thai SMEs. We conducted extensive research and interviewed 12 senior executives across three groups, government agencies, LiVEx-listed companies, and social associations, to develop a questionnaire and conceptual model. Data collected from 360 individuals working in medium-sized enterprises in Thailand collected using an online questionnaire were then analyzed, using CFA and SEM techniques to validate the model. Our study emphasizes the importance of digital literacy, digital usage, and digital advocacy in the success of digital transformation in accessing Thai capital market financing. These findings serve as a valuable knowledge repository for future research.

Keywords: medium-sized enterprises; digital transformation; Thai capital market financing; LiVEx (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/8/3470/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/8/3470/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:8:p:3470-:d:1379909

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().