Social Return on Investment Assessment of Capacity Development in the Kachin Sudjai Ethnic Community Enterprise: A Case Study of the Nong Khiew Royal Project Area, Chiang Mai, Thailand
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Abstract
This study aimed to (1) assess the social return on investment of a capacity-development project for the Kachin Sudjai Ethnic Community Enterprise and (2) analyze the project outcomes through the framework of the Sufficiency Economy Philosophy (SEP), encompassing moderation, reasonableness, self-immunity, knowledge, and morality, while also linking the outcomes to sustainable development. An exploratory sequential mixed-method evaluation drew on focus groups, in-depth interviews, semi-structured questionnaires, and enterprise accounting records from 21 stakeholders. Material outcomes were monetised and analysed using a hybrid ex-post/ex-ante SROI model over three years with a 3.5% discount rate. An investment of THB 402,500 generated a net present value of THB 957,455, equivalent to an SROI ratio of 2.38. The outcomes spanned economic, social, environmental, and cultural dimensions. They reflected reasonableness through knowledge of costs and production, moderation through prudent resource use, self-immunity through collective organisation, and ethical conditions through cultural stewardship. Sensitivity tests for deadweight and attribution produced SROI ratios of 1.98-2.78. Thus, the conclusion that benefits exceeded investment remained consistent across all tested scenarios.
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