Cost Managemnet Cost Management Strategies for Enhancing Managerial Efficiency and Competitive Advantage of Thai Construction Contractors
Keywords:
Cost Management Strategies Managerial Efficiency Competitive Advantage Construction ContractorsAbstract
This study examined the levels of cost management strategies, managerial efficiency, and competitive advantage; analyzed the effects of cost management strategies on managerial efficiency and competitive advantage; and tested the mediating role of managerial efficiency. A quantitative cross-sectional survey was conducted with 169 executives, owners, project managers, project engineers, and cost-related decision makers in Thai construction contracting businesses using a 27-item, five-point Likert-scale questionnaire. Data were analyzed with descriptive statistics, Pearson correlations, linear regression, and PROCESS Macro Model 4 with 5,000 bootstrap resamples. All three constructs were rated at a high level. Competitive advantage had the highest mean (M = 3.9536, SD = 0.8012), followed by managerial efficiency (M = 3.9152, SD = 0.8124) and cost management strategies (M = 3.8521, SD = 0.8723). Cost management strategies positively influenced managerial efficiency (β = 0.940, R² = 0.883, p < .001). Managerial efficiency remained significant when controlling for cost management strategies (β = 0.512, p < .001), while cost management strategies retained a direct effect on competitive advantage (β = 0.414, p < .001). The indirect effect was 0.443, and the 95% bootstrap confidence interval [0.332, 0.554] excluded zero, indicating partial mediation. However, the very high CMS-ME correlation (r = 0.940) and VIF = 8.521 indicate substantial overlap and warrant cautious interpretation of unique regression effects.
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