Influences of Organizational learning, Organization Innovation, and Business Performance on the Sustainability of the Companies Listed on the Stock Exchange of Thailand

Abstract

The sustainable investment concept is a concept for investment decision-making that considers the environmental, social and governance (ESG) performance-related data performance, together with the analysis of business financial data in order to generate long-term returns. Organizational learning is an important factor in organizational transformation, especially for medium-sized and large-sized companies which enlarged themselves from small-sized or family-business companies to become public companies which raise their capital through the mechanism of the Stock Exchange of Thailand. However, with the economic situation, competitive challenges, and the transformation of technology, there are concerns about the sustainability of the business. The objectives of this research were to study: 1) levels of organizational learning, organization innovation, business performance, and business sustainability of companies listed on the Stock Exchange of Thailand; 2)influences of organizational learning, organization innovation, and business performance on the business sustainability of the companies listed on the Stock Exchange of Thailand; and 3) a model for the  business sustainability of the companies listed on the Stock Exchange of Thailand. This research employed a mixed research methodology combining quantitative and qualitative methods. For the quantitative research part, the research sample consisted of 360 executives of the companies listed on the Stock Exchange of Thailand. The sample size was determined based on the criterion of 20 times the observed variables. They were selected via stratified sampling. Data were collected with the use of a questionnaire and analyzed with a structural equation model. As for the qualitative research component, in-depth interviews were conducted, to confirm to results gained from the quantitative research, with 20 key informants including executives of the listed companies who have received awards for the sustainability or innovation. Data were analyzed with content analysis. The findings showed that: 1) organizational learning, organization innovation, business performance, and business sustainability were rated at the highest level; 2), organization innovation, business performance and organizational learning had a direct influence on business sustainability, with a .05 level of statistical significance, and all of which could predict the results by 80.3 percent; and 3) the model for the business sustainability of the companies listed on the Stock Exchange of Thailand, developed by the researcher, was called the LILP Model. It was an innovative integrated learning model concept for listed companies, consisting of leadership, innovation, and learning platform. The findings can be used as a framework for the development of the organizational learning model that leads to the creation of the organization innovation and sustainability of the listed companies.