Publication: The role of COSO-based enterprise risk management in enhancing competitive advantage among Thai SMEs
31
0
Issued Date
2025-01-01
Resource Type
ISSN
26437015
eISSN
26437023
Scopus ID
2-s2.0-105011750844
Journal Title
Journal of the International Council for Small Business
Rights Holder(s)
SCOPUS
Bibliographic Citation
Journal of the International Council for Small Business (2025)
Suggested Citation
Jarusen J., Cheunkamon E. The role of COSO-based enterprise risk management in enhancing competitive advantage among Thai SMEs. Journal of the International Council for Small Business (2025). doi:10.1080/26437015.2025.2526630 Retrieved from: https://hdl.handle.net/20.500.14740/21235
Author(s)
Author's Affiliation
Corresponding Author(s)
Other Contributor(s)
Abstract
The relationship between management and risk management remains unclear, particularly for small and medium-sized enterprises (SMEs) in Thailand, a developing country, as most existing research focuses on large industries. This study aims to assess risk management factors influencing SMEs’ competitive advantage. A survey of 400 SMEs with offices in Bangkok province and using financial transaction technology was conducted. Results show that control environment (β = 0.354, p <.01), risk assessment (β = 0.099, p <.05), control activities (β = 0.255, p <.01), review and improvement (β = 0.185, p <.01), and monitoring (β = 0.157, p <.05) significantly influence SMEs’ competitive advantage. This study provides empirical support for the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework in achieving competitive advantage, particularly in developing economies like Thailand. This study also provides empirical support for the application of the COSO model in achieving competitive advantage, highlighting that the relationship is not merely bivariate.