Factors Affecting Effective Risk Management: A Case Study of Industrial Estate Authority of Thailand

Abstract

This study aims to examine the factors that affect the Industrial Estate Authority of Thailand's effective risk management based on the COSO ERM 2017 framework. Primary data collected from 250 questionnaires was analyzed using descriptive statistics, such as frequency, percentage, mean, and standard deviation. Multiple regression model and logit model were also utilized in order to examine the factors that affect the Industrial Estate Authority of Thailand's effective risk management. The overall result showed that when using a regression analysis, the factors that positively affect the Industrial Estate Authority of Thailand's effective risk management include (1) good governance and culture, (2) strategy and objective-setting, (3) performance, (4) review and revision, as well as (5) information, communication and reporting. These findings in fact, line with the predetermined hypotheses, on the other hand, when using the logit model, the factors that positively affect the Industrial Estate Authority of Thailand's effective risk management include (1) review and revision and information and (2) communication and reporting.