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Previous research suggests that internationalization affects initial public offering (IPO) performance in the short term, but it less is known about the founders’ role in the relationship between internationalization and IPO performance. The objectives of this study were to investigate moderating effects of the founders’ role on the impact of internationalization on IPO performance of newly listed companies. The samples included 80 international firms listed in Thailand stock markets from 2013 to 2020. Multiple regression analysis was employed to test the effects of internationalization on IPO performance, and the PROCESS macro was applied to test the moderating effects. Founder CEO as a proxy of a founders’ role was a moderator variable where internationalization was a predictor variable and IPO underpricing, a proxy of IPO performance, was the outcome variable. The results revealed that internationalization demonstrated no statistically significant effect on IPO underpricing. A non-founder CEO had a moderating effect on the influence of internationalization on IPO underpricing, whereas a founder CEO revealed no moderating effect. Specifically, internationalization had a negative effect on IPO underpricing once an international firm had a non-founder CEO. A decrease in IPO underpricing of international firm is clearly explained by the results of this study.

This study aimed to study the influences of justice and trust on the organizational citizenship behavior. The questionnaire respondents were the workers at Rajamangala University of Technology. Data analysis was done through structural equation modeling to test the purpose model and compare between the groups via multiple groups analysis approach. It was found that justice and trust have a positive statistical significant influence on organizational citizenship behavior. Moreover, justice has a positive statistical significant influence on trust. Generation X and Generation Y differently perceive the influences of justice and trust on organizational citizenship behavior. Generation X paid attention to the influence of justice on the organizational citizenship behavior while generation Y paid attention to the influence of trust on justice, the chief will implement justice in the organization for both generations to build trust in the chief and the organization. This would lead to future achievements in the organization.

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