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This research aims to investigate how learning processes can be organized to create a model for effective leadership towards management. The study aims to compare the opinions of personnel in Wang Phong Sub-district Municipality regarding problems and obstacles in municipality administration and identify solutions to address these issues. The research methodology involved conducting in-depth interviews with key informants, and qualitative data analysis was used for data interpretation. The study's findings revealed that the former president of Wang Phong Sub-district Administrative Organization was a good leader who had a strong understanding of the principles of good governance and had effectively applied these principles in practice. Factors that contributed to the success of exemplary governance implementation included leadership, availability of resources and finances, and personnel numbers. Two important principles of good governance were identified: a system for awarding contests, and clear and transparent management principles for Sub-district Administrative Organizations.

This paper aims to examine the effect of corporate governance (CG) on firm performance (FP). The 3SLS (Three-Stage Least Squares) regressions were performed on a system of equations based on a panel dataset of 1,768 firm-years of Thai-listed companies from 2014 to 2020. This is to assess the simultaneous linear/curvilinear relationships between CG and FP. We found that internal CG mechanisms (i.e., the board size, institutional ownership, and dividend policy) are significantly related to firm performance measured by return on equity (ROE), return on assets (ROA), and price-to-book ratio/Tobin’s Q (PBR). Board size exhibits a curvilinear relationship rather than a linear relationship with FP. This reflects the integration between resource dependency theory and stewardship theory. Relative to ROE and ROA, a board size of 10 is optimal (which is associated with a peak ROE of 14.8% and a peak ROA of 3.4%. A board size greater than ten would see a fall in ROE and ROA. Relative to PBR, a board size of 12 is optimal, with a peak PBR of 2.39 times. This study further identifies a ranking of effective CG mechanisms.