The Impact of Corporate Governance on Firm Value: Evidence from the Stock Exchange of Thailand

Authors

  • Pankeawta Lakkanawanit Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Natnicha Soradee Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Niyada Dachprom Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Butsaba Musidaeng Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Panadda Suwannarat Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Pattayanee Sangkhanukit Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Panumas Paothongkam Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Trairong Swatdikun Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand
  • Suwatjana Thammachot Division of Accountancy, School of Accountancy and Finance, Walailak University, Nakhon Si Thammarat 80160, Thailand

Keywords:

Corporate governance, Sustainability investment, The stock exchange of Thailand

Abstract

This research explores the impact of corporate governance on the value of the firm in THSI index, listed companies that operates sustainably, taking into account the environment, having appropriate board composition. Research methodology consists of the following elements; the population is all listed company which listed in the Thailand Sustainability Investment (THSI) index in 2020, totally 118 observation firms. Secondary data of board composition of the corporate governance were collected from Annual Report, SETSmart database. Data were analyzed using descriptive statistics, correlation analysis, and multiple regression analysis. The results shows that the proportion of majority shareholder and firm size plays a key role of value creation in the THSI group. The authorities and regulators can use the result of this research to provide guidance for corporate governance policies to ensure sustainability for the organization itself and its stakeholders.

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Published

2022-07-12

How to Cite

Lakkanawanit, P. ., Soradee, N. ., Dachprom, N. ., Musidaeng, B. ., Suwannarat, P. ., Sangkhanukit, P. ., Paothongkam, P. ., Swatdikun, T. ., & Thammachot, S. . (2022). The Impact of Corporate Governance on Firm Value: Evidence from the Stock Exchange of Thailand. Science, Technology, and Social Sciences Procedia, 2022(2), CiM17. Retrieved from https://wjst.wu.ac.th/index.php/stssp/article/view/25669

Issue

Vol. 2022 No. 2 (2022): Social Sciences

Section

Articles