The Success Factors of the Village and Urban Fund Management that Affect the Sustainable Development in Thailand

Abstract

The purposes of this research were: 1) to study the relationship between key success factors affecting the performance of village and urban community funds in Thailand, and 2) to study the relationship between the performance of the village and urban community fund and sustainable development in Thailand. The sample of this research was 747 respondents, members and/or committees of the village and urban community fund of Thailand. The questionnaire was selected as the tool for this research. Furthermore, the following statistics are used: frequency, percentage, mean, standard deviation, correlation coefficient analysis, confirmatory factor analysis (CFA), and structural equation modeling (SEM) were used to test the research hypothesis. The results show that the majority of respondents were females aged between 51–60 years old, with a graduation level lower than junior high school, careers in farming, and living in the central region of Thailand. Most of these respondents are members of village funds with 2-5 years of experience. The factors that influence the success of the village and urban community fund are personnel, leadership, governance, participation, and management factors through confirmatory factor analysis (CFA). The structural equation model is consistent with the empirical data at a statistically significant level of 0.01. Moreover, key success factors of the village and urban community funds are directly influenced to the performance of the village fund. Consequently, the performance of the village fund has a direct influence on sustainable development. The contributions of this research will benefit the members and/or committees of the village and urban community fund of Thailand, as well as provide recommendations for future research.