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Adaptability of SMEs in production sector in Chiang Mai to the 300 Baht wage policy

Author

Listed:
  • Panupon Khemtit

    (Chiang Mai University)

  • Voravidh Chareonloet

    (Chiang Mai University)

Abstract
The study of analysis of factors affecting the adaptive capacity of SME entrepreneurs in production sector in Chiang Mai province towards the 300 baht aims to examine the adaptive capacity levels of entrepreneurs towards minimum wage policy and also aims to investigate the factors affected by the minimum wage policy. The research instrument is questionnaire collected from 400 SME entrepreneurs in Chiang Mai. Ordered Logit model and Marginal Effect have been employed to analyze the factors affecting the minimum wage policy on entrepreneur’s adaptive capacity. The result shows the adaptive capacity levels affecting the entrepreneurs, most in high level such as higher wage, higher raw material higher transportation lower profit. The factors that affect the entrepreneur’s adaptive capacity for reducing cost are sex, age marriage status, level of business and period in business operation. The factors that affect this section are higher transportation, higher wage, higher raw material, lower profit. The factors that affect the entrepreneur’s adaptive capacity for product are age marriage status, source of fund, education level. The factors that affect this section are higher wage and higher raw material. The factors that affect the entrepreneur’s adaptive capacity for business development are sex and marriage status. The factors that affect this section are higher transportation, higher wage, higher raw material, lower profit. The factors that affect the entrepreneur’s adaptive capacity for marketing are sex, age and period in business operation. The factors that affect this section are higher transportation and higher raw material. All factors above can affect SMEs entrepreneur’s adaptive capacity from minimum wage policy operation. The factors that affect this section are higher transportation and higher raw material. All factors above can be effect SMEs entrepreneur’s adaptive capacity from minimum wage policy.

Suggested Citation

  • Panupon Khemtit & Voravidh Chareonloet, 2013. "Adaptability of SMEs in production sector in Chiang Mai to the 300 Baht wage policy," The Empirical Econometrics and Quantitative Economics Letters, Faculty of Economics, Chiang Mai University, vol. 2(3), pages 93-102, September.
    • Handle: RePEc:chi:journl:v:2:y:2013:i:3:p:93-102
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