Managerial Factors Enhancing the Competitive Capability of Thai Construction Contractors: Perspectives from Cost Strategy and Managerial Efficiency
Keywords:
cost management strategies, managerial efficiency, competitive advantage, construction contractors, mediationAbstract
This study examined cost management strategies, managerial efficiency, and competitive advantage among construction contractors in Thailand and tested the mediating role of managerial efficiency. A quantitative cross-sectional survey was conducted with a target population of 12,456 registered and active construction contracting businesses. From an accessible frame of 268 contacts, Yamane’s formula at a .05 margin of error yielded a minimum sample of 161; 169 complete responses were obtained through purposive and convenience sampling. Data were collected using a 27-item five-point Likert-scale questionnaire with an overall reliability coefficient of .981. IBM SPSS Statistics Version 26 and PROCESS Macro Model 4 with 5,000 bootstrap resamples were used. All three constructs were rated at a high level. Cost management strategies were positively associated with managerial efficiency (β = .940, R² = .883, p < .001). After controlling for cost management strategies, managerial efficiency remained positively associated with competitive advantage (β = .512, p < .001), while cost management strategies retained a significant direct effect (β = .414, p < .001). The indirect effect was .443, with a 95% confidence interval of [.332, .554], indicating partial mediation. The findings indicate that integrating procurement, systematic cost control, and budget-based monitoring with resource and process management is an important mechanism for strengthening sustainable competitive advantage.
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