A Causal Analysis of Factors Affecting the Success of the Tourism Industry Business in the Northeastern Region of Thailand
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Abstract
The research article consisted of the following objectives: 1) to investigate the significance of social capital, entrepreneurship, competitive advantage, service innovation, and the success of tourism industry business in the Northeastern region of Thailand; and
2) to study the casual factors affecting the success of tourism industry business in the Northeastern region of Thailand. The study employed a quantitative research approach with multi-stage sampling, using a sample group of 630 tourism entrepreneurs from the Northeastern region. As the tool, a questionnaire was employed. The obtained data were analyzed using percentage as a descriptive statistics, and structural equation modeling was also employed to test the hypothesis.
From the study, the following results have been found: 1) The study into the importance of social capital, entrepreneurship, competitive advantage, service innovation, and the success of tourism industry business in the Northeastern region of Thailand found that all factors have the high level of significance. 2) The casual factors affecting the success of tourism industry business in the Northeastern region of Thailand revealed that social capital has influence on entrepreneurship, competitive advantage, service innovation, and the success of business. Entrepreneurship has influence on service innovation. Service innovation has influence on competitive advantage and the success of business. Competitive advantage has influence on the success of business. However, the study also found that entrepreneurship does not have direct influence on the success of business and competitive advantage, but it has indirect influence on the success of business through service innovation and competitive advantage. The structural model is relevant to the empirical data because it meets the goodness-of-fit criteria ( = 1565.354, df = 1597, p = 0.709, /df = 0.98, GFI = 0.928, AGFI = 0.910, RMR = 0.024, RMSEA = 0).
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