Environmental Management Accounting and
Financial Performance: Empirical Evidence from
Thailand’s Green Hotels

 

การบัญชีการจัดการด้านสิ่งแวดล้อมกับผลการดำเนินงาน
ทางการเงิน : หลักฐานเชิงประจักษ์จากโรงแรมที่เป็นมิตร
ต่อสิ่งแวดล้อมในประเทศไทย

 

 

Received:
December 25, 2025

Revised:
February 9, 2026

Accepted:
February 18, 2026

Dr.Komkrit Singjai

Assistant Professor of Department of Accounting,

Faculty of Business Administration, Kasetsart University

Dr.Chatmongkon Wongrathanandha

Lecturer of Department of Accounting,

Faculty of Business Administration, Kasetsart University

(Corresponding Author)

Dr.Lanita Winata

Senior Lecturer of Department of Accounting, Finance and Economics,

Griffith Business School

 

 

วันที่ได้รับต้นฉบับบทความ :
25 ธันวาคม 2568

วันที่แก้ไขปรับปรุงบทความ :
9 กุมภาพันธ์ 2569

วันที่ตอบรับตีพิมพ์บทความ :
18 กุมภาพันธ์ 2569

 

ดร.คมกฤษณ์ สิงห์ใจ

ผู้ช่วยศาสตราจารย์ประจำภาควิชาบัญชี

คณะบริหารธุรกิจ มหาวิทยาลัยเกษตรศาสตร์

ดร.ฉัตรมงคล วงศ์รัฐนันท์

อาจารย์ประจำภาควิชาบัญชี

คณะบริหารธุรกิจ มหาวิทยาลัยเกษตรศาสตร์

(ผู้ประสานงานหลัก)

Dr.Lanita Winata

Senior Lecturer of Department of Accounting, Finance and Economics,

Griffith Business School, Australia

 

 

Keywords:
Financial Performance,
Environmental
Management Accounting,
Hotel, Proactive
Environmental Strategies,
Thailand

ABSTRACT

This study examines the level of adoption and the impact of Environmental Management Accounting (EMA) in the Thai hotel industry, specifically among environmentally proactive businesses, through the lens of the Resource-Based View (RBV). The empirical analysis is based on survey data collected in 2016 from environmentally proactive hotels affiliated with the Green Leaf Foundation in Thailand. A cluster analysis and the Mann–Whitney U test were used to test the proposed hypothesis. The results showed that hotels with proactive green strategies implement EMA tools at the moderate level. While green strategies are pursued, the results suggest that extensive EMA implementation is not always a top priority. Furthermore, the results reveal that varying levels of EMA adoption lead to different financial outcomes, especially operating profit, operating cash flow, and ROI. However, EMA adoption had no impact on sales volume between hotels with Extensive and Limited EMA adoption. The results suggest that the financial benefits of EMA are more pronounced in cost-related aspects than in revenue generation.

 

 

คำสำคัญ :
ผลการดำเนินงานทางการเงิน
การบัญชีการจัดการด้าน
สิ่งแวดล้อม โรงแรม

กลยุทธ์เชิงรุกด้านสิ่งแวดล้อม
ประเทศไทย

บทคัดย่อ

งานวิจัยนี้มีวัตถุประสงค์ เพื่อศึกษาระดับการนำการบัญชีการจัดการด้านสิ่งแวดล้อม (Environmental Management Accounting: EMA) มาใช้ และผลกระทบของ EMA ต่อผลการดำเนินงานของธุรกิจโรงแรมในประเทศไทย โดยมุ่งเน้นกลุ่มโรงแรมที่ใช้กลยุทธ์เชิงรุกด้านสิ่งแวดล้อม ภายใต้กรอบแนวคิดฐานทรัพยากรขององค์กร (Resource-Based View: RBV) การวิเคราะห์เชิงประจักษ์อาศัยข้อมูลจากแบบสอบถามที่เก็บรวบรวมในปี พ.ศ. 2559 จากโรงแรมในประเทศไทยที่มีการดำเนินกลยุทธ์เชิงรุกด้านสิ่งแวดล้อม และเป็นสมาชิกของมูลนิธิใบไม้เขียว จากการทดสอบสมมติฐานด้วยการวิเคราะห์จำแนกกลุ่ม Cluster Analysis และ Mann–Whitney U Test พบว่า โรงแรมที่มีกลยุทธ์การเป็นมิตรต่อสิ่งแวดล้อมเชิงรุกมีการนำเครื่องมือ EMA มาใช้ในระดับปานกลาง แม้ว่าโรงแรมเหล่านี้จะให้ความสำคัญกับการดำเนินกลยุทธ์ด้านสิ่งแวดล้อม แต่ผลการวิจัยชี้ให้เห็นว่าการนำ EMA มาใช้ยังไม่ถือเป็นลำดับความสำคัญสูงสุด นอกจากนี้ ผลการวิเคราะห์ยังพบว่าระดับการนำ EMA มาใช้ที่แตกต่างกันส่งผลให้เกิดผลลัพธ์ทางการเงินที่แตกต่างกัน โดยเฉพาะในด้านกำไรจากการดำเนินงาน กระแสเงินสดจากการดำเนินงาน และอัตราผลตอบแทนจากการลงทุน อย่างไรก็ตาม ระดับการนำ EMA มาใช้ไม่ส่งผลต่อปริมาณยอดขายระหว่างโรงแรมที่มีการนำ EMA มาใช้ในระดับสูงและโรงแรมที่มีการนำมาใช้อย่างจำกัด ผลการศึกษาชี้ให้เห็นว่าประโยชน์ทางการเงินของ EMA ปรากฏชัดเจนมากกว่าในด้านการควบคุมและจัดการต้นทุน เมื่อเปรียบเทียบกับด้านการสร้างรายได้

 

 

 

HOW TO CITE

 

Singjai, K., Wongrathanandha, C., & Winata, L. (2026). Environmental management
accounting and financial performance: Empirical evidence from Thailand’s green
hotels. Journal of Business Administration, 49(190), 45-68.
https://doi.org/10.14456/jba.2026.8

 

 

 

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