Benefits of Enterprise Risk Management’s Influence on the Growth of Tourism Businesses: the Moderating Role of Location
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Abstract
This quantitative research project aimed to determine the influences of Enterprise Risk Management (ERM) implementation on business growth and examine the moderating role of the tourism enterprise’s location between ERM and business growth. The convenience sampling method was employed. The participants were 419 tourism business owners along Thailand's Andaman Coast using surveys. The impact of ERM on growth was examined statistically, both generally and within the context of each province, using multiple regressions and a variable selection tool. Results revealed a positive influence by ERM implementation on the businesses’ growth and that the firm’s location had a positive moderating role. ERM implementation is an important concept for enhancing a firm’s growth. Few studies, however, have attempted to ascertain the impact of ERM implementation regarding the significant impact on tourism businesses. As a result, this study tries to close this research gap in the field by presenting relevant, practical ideas and their implications.
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