Management Accounting and Risk Management Influencing the Organizational Success of Small and Medium Sized Enterprises in Northeastern Thailand

Abstract

This research aimed to study the opinions on management accounting, risk management, and organizational effectiveness in order to compare organizational effectiveness and the factors of management accounting and risk management that impact the organizational effectiveness of SMEs in the Northeastern region of Thailand. The population and sample consisted of executives or entrepreneurs of SMEs, or those involved with SMEs across the 19 provinces in Northeastern Thailand: Nong Khai, Nakhon Phanom, Sakon Nakhon, Udon Thani, Nong Bua Lamphu, Loei, Mukdahan, Kalasin, Khon Kaen, Amnat Charoen, Yasothon, Roi Et, Maha Sarakham, Chaiyaphum, Nakhon Ratchasima, Buriram, Surin, Sisaket, and Ubon Ratchathani, totaling 400 participants. The sample size was determined using the Taro Yamane formula with a 95% confidence level. The research instruments included a checklist questionnaire and a 5-point rating scale. Quantitative data were analyzed using descriptive statistics, frequency, percentage, mean, standard deviation, and multiple regression analysis. The findings revealed that the level of opinions on management accounting, risk management, and organizational effectiveness of SMEs in the Northeastern region of Thailand was high. The analysis of SMEs with different types of business showed no significant difference in organizational effectiveness, except for the form of business, business duration, and the total number of employees, which were found to influence organizational effectiveness. The management accounting factors decision-making, command, and planning and the risk management factors performance, information communication and reporting, strategy and objective setting, and corporate governance and organizational culture had a significant effect on the organizational effectiveness of SMEs in the Northeastern region of Thailand at a 0.05 statistical significance level.