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This paper aims to examine the key factors influencing management adaptation toward business performance in Thai family business firms. The paper also seeks to demonstrate the impact level of three motivational factors including vision, leadership, and relationship, on management adaptation, and to explore the relationship between management adaptation and performance of Thai family business. Structural equation modeling was applied to analyze a conceptual model with survey data collected from 305 family business owners in Thailand. The results indicated that strong leadership and relationship have significant positive impacts, while vision is of negative influences on management adaptation. Results also indicated a positive relationship between management adaptation and business performance.
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