Download or read book Corporate Governance Mechanisms and Firm Performance for SET100 Listed Companies in Thailand written by Nattanan Powichit and published by . This book was released on 2015 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance of Listed Companies in Thailand written by Sakulrat Montreevat and published by Institute of Southeast Asian Studies. This book was released on 2006 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an understanding of corporate governance in the context of Thailand. It explains the background and scope of corporate governance in Thailand before and after the Asian financial crisis, and details the roles of the relevant agencies and the key elements of corporate governance for listed companies. The author reviews the assessments made by both local and international organizations and concludes by looking at the challenges ahead and offering policy recommendations for raising the level of corporate governance in Thailand.

Download or read book The Relationship Between Corporate Governance and Performance Measures of Companies Listed in the Stock Exchange of Thailand s Set100 written by Pitchanan Pasopa and published by . This book was released on 2018 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this research is to study the Relationship between Corporate Governance and Performance Measures of Companies Listed in The Stock Exchange of Thailand's SET100 by collecting the data on the corporate governance, rate of return on assets, earnings per share, and Tobin's Q from SET SMART in 2016, except for financial business group due to their different business lines and financial structure. The sample group consists of 86 companies. The research methodology was Empirical Research using the Descriptive Statistics. The hypothesis testing is done with the Inferential Statistics of multiple regression analysis. The results are analyzed using Adjusted R2 as a measure of corporate governance with the rate of return on assets, earnings per share and Tobin's Q. All the tests use a statistically significant level of 0.05. The findings reveal that 1) Corporate governance and financial risk have negative impact on the rate of return on assets significantly, 2) Corporate Governance on the proportion of independent directors and size of business has a positive influence on earnings per share. For the financial risk, there is negative impact on earnings per share significantly, 3) Corporate governance on the size of the business has negative influence on the value of business significantly.

Download or read book Corporate Governance in Thailand written by Sakulrat Montreevat and published by Institute of Southeast Asian Studies. This book was released on 2006 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thailand's currency crisis set off a national and regional economic meltdown in the closing years of the twentieth century. Written by Thai economists, this book gives a progress report on good corporate governance practices in listed non-financial companies, financial institutions, state-owned enterprises, and non-listed companies in Thailand.

Download or read book The Impact of Corporate Governance on Operational Performance of Listed Companies In the Stock Exchange of Thailand written by Piyanat Thunputtadom and published by . This book was released on 2018 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this study is to investigate the variation of the corporate governance mechanisms which effects on the operational performance of listed companies in the Stock Exchange of Thailand (SET). The qualitative research methods were used to collect data and used the Panel Data Random Effects to analyze data. The research sampling was selected from the listed Companies in the SET, recorded during 2011-2015. The selected 1,665 listed Companies were used to analyze the impact of the corporate governance. The research results found that corporate governance mechanism, CEO Duality and the number of board meeting held the significant negative impacts on the operational performance of listed companies in the SET. Whereas the board size and the board independence have no significant impacts on the operational performance of listed companies in the SET.

Download or read book Thailand s Corporate Financing and Governance Structures written by Pedro Alba and published by World Bank Publications. This book was released on 1998 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: November 1998 Weaknesses in corporate governance and the fragile financial structure of many corporations contributed to, and deepened Thailand's recent financial crisis. Large corporations need to reduce their vulnerability to economic shocks and improve corporate governance; smaller firms should achieve a more stable funding structure. Alba, Claessens, and Djankov assess Thailand's policy options for reducing large corporations' vulnerability to economic shocks and improving their corporate governance - and for providing smaller firms a more stable funding structure. Using data for firms listed on Thailand's stock exchange, they empirically assess the relative importance of various factors determining the cost of capital, the availability of financing, and policies and distortions that affect corporate governance in nonfinancial firms. The empirical findings highlight weaknesses in corporate governance and the inherent risks in Thailand's corporate financing structures. They conclude that the most important ask in improving the structure of corporate financing and the framework for corporate governance is to change incentives. This will involve: * Accelerating legal reform, including reform of bankruptcy and foreclosure laws. * Improving bank monitoring of enterprise management and encouraging banks to develop more arm's-length relationships with firms. This will require greater transparency and disclosure of ownership relationships and stricter enforcement of insider and related lending limits, violation of which contributed poor intermediation and the recent crisis. * Improving disclosure and accounting practices. Self-regulatory agencies may need to play more of a role, possibly with more legal power to discipline violators. * Better enforcement of corporate governance rules. The formal structure for corporate governance is standard but enforcement is weak. * Facilitation of equity infusions. Investors - especially minority shareholders - may need to play a more direct role in monitoring and disciplining managers. To attract new infusions of equity, new equity owners may need more-than-proportional representation on the board of directors until other investor protection mechanisms are strengthened. * Improving the framework for corporate governance. A broad public discussion of corporate governance, similar to recent discussions in the United Kingdom and elsewhere, may be needed to clarify the distribution of control in the economy's real sector. * Strengthening institutions responsible for gathering and analyzing data on firms of all sizes and for monitoring firm performance and behavior. This paper-a product of the Economic Policy Unit, Finance, Private Sector, and Infrastructure Network-is part of a larger effort in the network to study the performance and financing structures of East Asian corporations.

Download or read book Corporate Governance Ownership Structure and Firm Performance written by Narong Preedanan and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relationship between ownership structures and the performance of listed Thai financial firms, using a sample of 39 companies which is accounted for 86% of the market capitalisation of all financial firms listed on the Stock Exchange of Thailand (SET) in 1996. The study employs both univariate and multivariate regression analysis. The empirical results reveal that the presence of controlling shareholders is associated with higher performance, particularly when measured, for example, by return on equity (ROE). This evidence is consistent with the view that large shareholders mitigate the “free-rider” problem of monitoring a management team, and reduce agency costs, as contended by Shleifer and Vishny (1986) and Admati et al. (1994). In addition, the separation of voting and cash-flow rights through the use of pyramid and cross-shareholding is not detrimental to the value of a firm. The study does not find evidence to support the argument that a family’s involvement in management has a negative effect on company performance. Rather, there is strong evidence to support the hypotheses that state-owned financial institutions display superior performance. Finally, the study does not find evidence to support the argument that there is a non-monotonic relationship between ownership concentration and company value. Nevertheless, there is strong evidence that, at higher levels of ownership (in this case 50-75%), the involvement in management by controlling shareholders has a positive effect on firm performance, in terms of accounting, ROE, and market measures, price-to-book ratio. The results add to the literature that evaluates an empirical the link between ownership structure and firm performance, and provide additional information to policy-makers engaged in the ongoing development of corporate governance in developing countries, particularly in Thailand.

Download or read book Corporate Governance and Firm Performance written by and published by . This book was released on 2009 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: To investigate the relationship between level of governance standard and firms' performance based on agency theory. Sample used in this study is listed firms in the Stock Exchange of Thailand (SET) during 2000-2007. Regarding corporate governance measurement, I apply corporate governance index (CGI), which is constructed base on publicly available data. The index can be sub-divided into five categories; board structure, conflict of interest, board responsibilities, shareholder rights, and disclosure and transparency, that cover all major aspects related to corporate governance in the case of Thailand. The evidences indicate that better governance practice is associated with higher ROA, Tobin's Q and dividend yield. However there is no evidence that investors earned abnormal return during the sample period by using the investment strategy that bought high-governed firms and shorted low-governed firms.

Download or read book Corporate Governance written by Jira Yammeesri and published by . This book was released on 2003 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Impact of Ownership Structure and Other Corporate Governance Mechanisms on Firm Performance Accounting Discretions and Investor Perceptions written by Karuntarat Boonyawat and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance Mechanisms and Firm Performance written by Noor Afza Amran and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Influence of Institutional Shareholdings on Corporate Governance written by Peeriya Peerapongpipath and published by . This book was released on 2019 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Institutional investors have high influence on capital market so that this research aims to examine the influence of institutional shareholdings on corporate governance (CG) of the listed companies on the Stock Exchange of Thailand in the SET 100. Institutional shareholdings were categorized into four types as follows: 1. commercial banks, mutual funds, insurance companies, and securities public companies in Thailand (FIBTMF), 2. government agencies and state enterprises of Thailand (FIGV), 3. Foreign banks (FIBF), and 4. International investors (FIIN). The CG was measured by the CG scoring of Thai Institute of Directors Association (IOD). The study period covered 2013 to 2017. In addition, the data were analyzed by logistic regression analysis, separated into two models: the first model investigated overall institutional investors toward CG; whilst, the second model examined the four categories of institutional investors as earlier mentioned. As a result, the study revealed that the overall institutional investors had statistically positive influence on the CG at 0.05 level of significance. The second model exposed that government agencies and state enterprises of Thailand as well as international investors had statistically positive impact on the CG at 0.05 and 0.10 level of significance, respectively. Therefore, this research implied the important role of institutional investors toward the CG.

Download or read book Corporate Governance Mechanisms and Firm Performance written by Shveta Singh and published by Springer. This book was released on 2022-05-13 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book begins by analysing the various corporate governance mechanisms explored in the extant literature and determining their effectiveness in enhancing the firm value using multivariate analysis. The findings are of global relevance as the corporate governance regulations of most countries focus on independent directors as the mainstay of good governance. The empirical evidence from the first objective of this study corroborates the claim that independent directors do not strengthen the firms’ governance quality. The book is one of the few works to have analysed the possible reasons behind the ineffectiveness of the independent directors. Also, in view of the famous concept of the bundle of governance mechanisms, it might be possible that the independent directors strengthen the firms’ governance quality indirectly by strengthening other governance mechanisms. This aspect too has little precedence. This study adopts a novel moderation and mediation approach to analyse the monitoring behaviour of independent directors in relation to other governance mechanisms. The work is a must read for corporate players as well as researchers and scholars studying this discipline.

Download or read book Earnings Quality Corporate Governance Structure and Corporate Social Performance of Manufacturing Companies Listed on the Stock Exchange of Thailand written by Chutima Nakprasit and published by . This book was released on 2020 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this study is to investigate the relationship between earnings quality, corporate governance structure and corporate social performance (CSP) emphasizing on 317 manufacturing companies listed on the Stock Exchange of Thailand (SET). Earnings quality is calculated from four measurements while corporate governance structure is represented by ownership concentration, foreign ownership, board independence and CEO duality. In this study, CSP disclosure index is constructed in accordance with Thai institution guideline based on GRI (Global Reporting Initiative) framework in order to assess the extent of CSP. Regression analysis reveals a significant positive relationship between earnings quality and CSP. The result also indicates a significant positive relationship between ownership concentration and CSP. It implies that ethical and transparent character of Thai companies and ownership concentration contributes to CSP commitment.

Download or read book Governance of Design for Better Firm Performance of Thai Listed Companies written by Torpong Glaewketgarn and published by . This book was released on 2013 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Institutional Ownership and Firm Value in Thailand written by Yordying Thanatawee and published by . This book was released on 2014 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the crucial roles of institutional investors in corporate governance mechanisms, there is little empirical evidence regarding the impact of institutional ownership on firm value in Thailand. This paper examines the relationship between institutional shareholdings and firm value in a sample of 1,451 observations from 323 non-financial firms listed on the Stock Exchange of Thailand (SET) over the period 2007 to 2011. After controlling for firm characteristics and endogeneity problems, the evidence indicates that equity ownership by domestic institutional investors has a positive impact on firm value while higher foreign institutional ownership is associated with lower corporate value. The findings suggest that domestic institutional investors provide effective monitoring roles, thereby increasing corporate governance and firm value, whereas foreign institutional investors are inactive in monitoring the managers and may even expropriate corporate resources at the expense of minority shareholders.

Download or read book Corporate Governance Index and Firm Performance written by Pankaj Varshney and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior studies using an index of corporate governance to explore the relationship between corporate governance and firm performance have found a positive linkage between the two i.e. better governed firms exhibit better financial performance. Following the seminal work of Gompers, Ishii, and Metrick (2003) of creating a corporate governance index to study the relationship between corporate governance and firm performance, similar studies have been reported not only from developed markets like Germany, Canada, Hong Kong, Switzerland, and Australia, but also from emerging markets like Ukraine, Russia, Greece, Thailand, and India. In the present study, we investigate the relationship between corporate governance and firm performance in the Indian context by constructing a corporate governance index based on internal and external corporate governance mechanisms. Further, we use value-based performance measure - Economic Value Added (EVA), as the primary metrics to measure firm performance. Besides EVA, traditional measures such as Return on Networth, Return on Capital employed and Tobin's Q have also been used to evaluate the linkage between corporate governance and firm performance. Using various econometric techniques, we conclude that there is a positive relationship exists between corporate governance based on the corporate governance index and firm performance, when the performance is measured in terms of the value-based performance tool - Economic Value Added (EVA). The relationship could not be validated for the traditional performance tools - RONW, ROCE or Tobin's Q.