Author(s): Chanyaphak Lalaeng, Mallika Subongkod
The objective of this research was to test the causal and effect model of business management based on the green economy concept of businesses in Thai manufacturing industry by using a questionnaire with 622 Thai industrial business executives who have been certified with ISO 14001 environmental management standards. In this study, confirmatory factor analysis (CFA) and causal model analysis were used for statistical analysis. The major findings indicated that 1) The causal and effect model of business management based on the green economy concept of business in the Thai manufacturing industry was consistent with the empirical data, which can be determined from the values of χ²=264.403, df=153, p=0.000, χ² /df=1.728, CFI=0.98, TLI=0.97, RMSEA=0.06, SRMR=0.01. The management factor under the green economy influencing performance had a positive direct influence with a coefficient of 0.83 (p<.01). The corporate image influenced the performance with a positive direct influence coefficient of 0.56 (p<.01). Management under the green economy had a positive influence on corporate image with a positive direct influence coefficient of 0.62 (p<.01). In addition, socially responsible leadership influenced management in the green economy with a positive direct influence coefficient of 0.57 (p<.01). Situational factors of stakeholder pressure influence management under the green economy with a positive direct influence magnitude coefficient of 0.46(p<.01)). All predictors in the model were able to account for 70.0, 83.0, and 86.0% of the variances in performance, organizational image, and management under the green economy (R²=0.70, 0.83, 0.86), respectively.