ความสัมพันธ์ระหว่างการกำกับดูแลกิจการที่ดี กับผลการดำเนินงานของบริษัทจดทะเบียนในตลาดหลักทรัพย์แห่งประเทศไทย ในกลุ่ม SET100

บทคัดย่อ

The relationship between good corporate governance and firm performance of listed companies in SET100 index

This research is to study the relationship between good corporate governance and return on asset and return on equity of listed companies on the Stock Exchange of Thailand (SET) in terms of large market capitalization, high liquidity and compliance with requirements regarding the distribution of shares to minor shareholders (SET 100). In this research, the independent variables applied to explain good corporate governance comprise of free float shares, directors’ ownership, non CEO-duality, independent directors and board meeting frequency while total assets are employed as the control variable.

This paper works with secondary data collected from firms’ annual report and on the website of Securities Exchange of Thailand (http://www.setsmart.com) from B.E. 2010–2013. The samples are representing 67 percent of population. The collected data are then analyzed using descriptive statistics and inferential statistics namely pearson’s correlation and multiple regression.

According to the results, it is found that directors’ ownership is positively associated with return on assets, while free float shares and board meeting frequency have negative relation with return on assets. In addition, this study shows that only board meeting frequency has negative relation with return on equity.