โมเดลสมการโครงสร้างของภาวะผู้นำการเปลี่ยนแปลง ความสามารถทางเทคโนโลยี และการจัดการความเสี่ยงต่อผลการดำเนินงาน วิสาหกิจขนาดกลางและขนาดย่อม (SMEs) ภาคเหนือตอนบนของประเทศไทย

Panida Sattayopat; Atchara Meksuwan

Authors

Panida Sattayopat Faculty of Management Sciences, Chiang Mai Rajabhat University
Atchara Meksuwan Faculty of Management Sciences, Lampang Rajabhat University

Keywords:

transformational leadership, technological capability, risk management, firm performance, Small and Medium-sized Enterprises (SMEs)

Abstract

This research article aims to 1) examine the goodness-of-fit of a structural equation model explaining the relationships among transformational leadership, technological capability, and risk management affecting the performance of Small and Medium-sized Enterprises (SMEs) in Upper Northern Thailand, and 2) analyze the direct and indirect effects of these variables on the performance of SMEs. This study employed a quantitative research approach. Data were collected from 400 SME owners or senior executives using a structured questionnaire. The data were analyzed using descriptive statistics and Structural Equation Modeling (SEM). The results indicate that the proposed model demonstrates an excellent fit with the empirical data, as evidenced by Chi-square = 228.472 (p = .056), Relative Chi-square = 1.166, GFI = .939, CFI = .996, NFI = .975, TLI = .995, and RMSEA = .024. Furthermore, the model exhibits substantial explanatory power for SME performance. Hypothesis testing reveals that transformational leadership has a significant positive effect on both technological capability and risk management. In addition, technological capability and risk management exert significant positive effects on SME performance, with technological capability emerging as the most influential predictor of performance. Furthermore, transformational leadership affects firm performance indirectly through technological capability and risk management. The findings suggest that SME performance is the outcome of a systematic structural mechanism that integrates leadership roles, technological capability, and risk management. This integrated perspective highlights the importance of developing leadership capacity alongside technological and risk management capabilities to enhance organizational performance. The results provide valuable implications for policymakers and practitioners in designing effective strategies for SME development in regional contexts, such as fostering collaboration between SMEs and local governments to create supportive ecosystems that enhance innovation and competitiveness.

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