การสร้างแนวทางในการยกระดับวิสาหกิจไทยสู่ความสำเร็จและความอยู่รอดภายใต้ภาวะวิกฤตไวรัสโคโรนา 2019

Abstract

This study aims to evaluate the survival probability of small- and medium-sized enterprises (SMEs) in the service sector during the COVID-19 pandemic and empirically investigate their survival determinants by constructed from the entrepreneur and firm survival field. The sample group of 420 SMEs was analyzed utilizing the Cox proportional hazard model. Our result found that several business categories had various levels of survivability. The businesses that served exposure to tourists were more likely to fail. Furthermore, firm characteristics (size and ownership), financial structure (liquidity, operational efficiency, and debt), and government subsidies affect the probability of survival. Although, a dimension of entrepreneurial orientation does not influence the firm survival. However, we believe that entrepreneurial characteristics are significant through behavior, which manifests and affects survival only when the firm enters a crisis. We claim that the process of “Adaptation for survival.” Thus, entrepreneurial orientation is dynamic and influenced by the environment. Our quantitative analysis shows that entrepreneur decision and behaviors (innovativeness, competitive aggressive, and autonomous) are keys to driving the firm survival during COVID-19. These findings have several practical implications for businesses, governments, and policymakers in dealing with economic crisis.