In an increasingly interconnected world facing urgent environmental challenges, corporations serve as pivotal actors in cultivating a culture of peace through sustainable practices. This study examines how working capital management (WCM) in Thai listed companies can advance corporate global citizenship by integrating environmental sustainability with financial decision-making. Analyzing data from 2020 to 2024, we investigate how WCM strategies - measured through inventory turnover, receivables collection period, payment period, and cash conversion cycle - influence resource utilization, environmental performance, and contribution to global sustainability goals. Our findings reveal that aggressive WCM strategies, while enhancing financial performance, may increase environmental resource risks and undermine corporate responsibility to global stakeholders. Conversely, conservative strategies that prioritize resource conservation align with principles of global citizenship and contribute to building trust across borders. This research demonstrates that corporations can serve as agents of peace by balancing profitability with environmental stewardship, thereby contributing to the United Nations Sustainable Development Goals and fostering international cooperation through responsible business practices. The study contributes to understanding how financial management can be reimagined as a tool for promoting global peace, environmental justice, and sustainable development in emerging economies.

Authors:
Itthirit Wongchai, Bangkok University, Thailand
Wittawat Kadthan, Bangkok University, Thailand
Suwit Nirotnun, Bangkok University, Thailand
Pamonratt Pholtha, Department of Agriculture, Thailand
Ornwipa Makming, Sukhothai Thammathirat Open University, Thailand
Phattarapong Malawal, Sukhothai Thammathirat Open University, Thailand

About the Presenter(s)
Asst. Prof. Dr. Itthirit Wongchai is currently working at the school of Economics and Inverstment, Bangkok University (Thailand).

See this presentation on the full schedule – Sunday Schedule

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