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Sustaining Thai SMEs through perceived benefits and happiness

Author

Listed:
  • Warat Winit
  • Sooksan Kantabutra

Abstract

Purpose - This paper aims to examine the relationship between stakeholders’ perceived benefits and happiness of small and medium-sized enterprises (SMEs) that follow Thai’s corporate sustainability practices, called sufficiency economy, and their impact on stakeholder–company relationship quality and firm performance outcomes. Design/methodology/approach - Derived from the literature, a structural model, expressing the relationship between stakeholders’ perceived benefits and happiness of SMEs and their impact on stakeholder–company relationship quality and firm performance outcomes, was developed. A questionnaire survey was conducted with 636 stakeholders from sufficiency economy SMEs in Thailand. Structural equation modeling was used to test the model. Findings - Results indicate that utilitarian benefits, and hedonic and eudaimonic happiness impact enhanced stakeholder–company relationship quality with the firm to varying degrees. Different levels of relationship quality also impact perceived corporate reputation and perceived brand equity differently. Originality/value - This study is among the first that identifies the positive impact of happiness on corporate sustainability performance.

Suggested Citation

  • Warat Winit & Sooksan Kantabutra, 2017. "Sustaining Thai SMEs through perceived benefits and happiness," Management Research Review, Emerald Group Publishing Limited, vol. 40(5), pages 556-577, May.
    • Handle: RePEc:eme:mrrpps:mrr-04-2016-0083
    DOI: 10.1108/MRR-04-2016-0083
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    Citations

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    Cited by:

    1. Nuttasorn Ketprapakorn & Sooksan Kantabutra, 2019. "Sustainable Social Enterprise Model: Relationships and Consequences," Sustainability, MDPI, vol. 11(14), pages 1-39, July.
    2. Suwongrat Papangkorn & Pattanaporn Chatjuthamard & Sirimon Treepongkaruna, 2022. "Sustainable development and firm performance: Evidence from Thailand's sufficiency economy philosophy," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(5), pages 1030-1043, October.
    3. Sooksan Kantabutra, 2019. "Achieving Corporate Sustainability: Toward a Practical Theory," Sustainability, MDPI, vol. 11(15), pages 1-39, August.
    4. Warat Winit & Sooksan Kantabutra, 2022. "Enhancing the Prospect of Corporate Sustainability via Brand Equity: A Stakeholder Model," Sustainability, MDPI, vol. 14(9), pages 1-18, April.
    5. Sooksan Kantabutra, 2021. "Exploring Relationships among Sustainability Organizational Culture Components at a Leading Asian Industrial Conglomerate," Sustainability, MDPI, vol. 13(4), pages 1-32, February.

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