Success Model of Thai Commercial Banks in Stock Exchange of Thailand
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Abstract
This research article aims to study (1) to investigate the level of entrepreneurial competency, digital marketing strategy, management innovation, competitiveness and Business success of Thai commercial banks listed on the Stock Exchange of Thailand; (2) to examine the causal influences of these factors on business success; and (3) to develop a structural model of business success for these institutions. This study employed a mixed-methods research design. The quantitative phase involved data collection via questionnaires from 340 commercial bank customers selected through multi-stage and convenience sampling techniques. Data were analyzed using Structural Equation Modeling. The qualitative phase consisted of in-depth interviews with 20 key informants, including bank executives and finance and investment experts, with data analyzed via content analysis.
Findings are as follows: entrepreneurial potential, management innovation, and competitiveness had a statistically significant direct influence on business success at the 0.01 level. Furthermore, digital marketing strategy and management innovation significantly influenced both competitiveness and business success at the 0.01 level. Conversely, entrepreneurial potential had no significant direct influence on competitiveness. The developed model fitted well with the empirical data and effectively explained the determinants of business success for Thai commercial banks. These findings offer valuable insights for entrepreneurs in implementing strategic management focused on management innovation, thereby fostering sustainable competitiveness in the digital era.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Academic articles, research articles, and book reviews in the Ph.D. in Social Sciences Journal are author’s opinions, and not the publisher’s, and is not the responsibility of the Ph.D. in Social Sciences Journal Philosophy Association, Ramkhamhaeng University. (In the case that research is done on human, the researcher has to be trained in Ethics for Doing Research on Human Training and has to produce the evidence of the training).
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