Download or read book Ceo s Characteristics and Firm Performance of the Companies Listed in the Stock Exchange of Thailand written by Tassana Athiapinya and published by . This book was released on 2005 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the relationship between CEO's characteristics and firm performance of the companies listed on the Stock Exchange of Thailand between years 1999-2004. The CEO's characteristics are measured by seven attributes; relationship with founding families, having other insider on board, concentration of titles (Chairman and CEO), business related educational background, age, ownership and tenure. The results show that concentration of titles and ownership have a positive effect on firm performance while relationship with founding families has a negative effect on firm performance. In addition this study finds an invert U-shaped relationship between ownership and firm performance.

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 Firm Performance of Thai CEOs in the SET100 written by Veerisa Chotiyaputta and published by . This book was released on 2017 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Objective - This paper investigates firm performance effected by foreign-educated or locally educated CEOs in the SET100 listed firms of Thailand.Methodology/Technique - By examining the resumes of 198 CEOs of Thailand's 100 largest Thai listed companies over the past 16 years (2000-2015), this paper compares the effects on the means and variance of the CEO succession by presenting four cases: when (1) locally-educated Thai CEO is replaced by a foreign-educated Thai CEO, (2) foreign educated Thai CEO is replaced by a locally-educated Thai CEO, (3) locally-educated Thai CEO is replaced by another locally-educated Thai CEO, and (4) foreign-educated Thai CEO is replaced by another foreign-educated Thai CEO.Findings - It was found that the appointment of foreign-educated CEOs in the SET100 is associated with improved firm performance with respect to the mean-variance approach if (s)he replaces a locally-educated CEO. However, firm's performance deteriorated if a foreign-educated CEO replaces another foreign-educated CEO. Moreover, replacing a foreign-educated CEO with a locally-educated CEO also resulted in improved firm performance.Novelty - Findings suggest that switching to foreign-educated CEOs from locally-educated CEOs, and vice-versa, can help improve firm performance, thereby indicating the merit of some kind of 'disruption' effect as relates to CEO replacement.

Download or read book The Determinants of Corporate Governance Oractices written by and published by . This book was released on 2010 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the effects of the firms' ownership firm characteristics, and firm perfprmance on corporate governmance practices of firms listed in The Stock Exchange of Thailand (SET) during 2007-2008 by using multiple regression analysis. Firms' ownership structure consists of ownership concentration, institutional ownership, foreign ownership, government ownership, family ownership, and political connection. Firm characteristics are firm size, growth, intangible assets, and leverage. For firm performance, this study considers both accounting performance and market performance based on return on net assents (RONA) and Tobin's Q as the proxies, respectively, According to agency theory (Jensen and Meckling, 1976), this study hypothesizes that firms' ownership structure has effects on corporate governance practices of firm as well as the firm characteristics. In addition, this study also hypothesizes that firms' with good performance will have strong corporate governance practices. Cosistent with the above hypotheses, this study finds that firms with high institutional ownership, government ownership, or family ownership have strong corporate governance practices, as measured by corporate governance index (CGI). But firms with high concentration ownership have weak corporate governance practices. For firm characteristics, large firms have strong corporate governance practices while levered firms have weak practices. Firms with high market performance also have strong corporate governance practices. Neverthless, this study finds that there are five variables that are not significant associated with corporate governance practices, with are foreign ownership, political connection, firm growth, firm intangible assets, and firm accounting performance. Overall, these results imply that ownership structure, firm characteristics, and firm performances are the determinants of corporate governance practices of Thai listed firm even if not all of the varibables of are sigificant.

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 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 Advances in Pacific Basin Business Economics and Finance written by Cheng-Few Lee and published by Emerald Group Publishing. This book was released on 2018-09-06 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Pacific Basin Business, Economics, and Finance is an annual publication designed to focus on interdisciplinary research in finance, economics, and management among Pacific Rim countries.

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 Economics and Finance Readings written by Evan Lau and published by Springer Nature. This book was released on with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Transforming Corporate Governance and Developing Models for Board Effectiveness written by Yasser, Qaiser Rafique and published by IGI Global. This book was released on 2020-12-25 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance can be considered as an environment of trust, ethics, moral values, and confidence as a synergistic effort of all the constituent parts, including stakeholders, the public, service provides, and the corporate sector. The actions of an organization and the consequences of those actions has become increasingly concerned with corporate governance. As such, it is essential to examine the latest concepts and trends that can lead to the development of effective models for corporate boards. Transforming Corporate Governance and Developing Models for Board Effectiveness is an essential reference source that contains forward-thinking research intended to facilitate effective, entrepreneurial, and prudent management that can deliver the long-term success of the company. The book discusses the different theories and practices surrounding boards of directors’ responsibilities and innovative strategies for the governance of their companies that allow them to become and remain successful. Highlighting topics that include board diversity and independence, business ethics, and family business governance, this book is intended for corporate boards, board of directors, executives, managers, business professionals, academicians, researchers, policymakers, and students.

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 Contemporary Trends and Challenges in Finance written by Krzysztof Jajuga and published by Springer Nature. This book was released on 2020-05-06 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume features a selection of contributions presented at the 2019 Wroclaw Conference in Finance, covering a wide range of topics in finance and financial economics, e.g. financial markets; monetary policy; corporate, personal and public finance; and risk management and insurance. Reflecting the diversity and richness of research in the field, the papers discuss both fundamental and applied finance, and offer a detailed analysis of current financial-market problems, including specifics of the Polish and Central European markets. They also examine the results of advanced financial modeling. Accordingly, the proceedings offer a valuable resource for researchers at universities and policy institutions, as well as graduate students and practitioners in economics and finance at both private and government organizations.

Download or read book Stock Market Winners written by Nattaphan Vuthicholthee and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Comparative Study of the Performance Between Firms Participating and Not Participating on the Voluntary Corporate Governance Program of the Stock Exchange of Thailand written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance and the Cost of Capital of the Companies Listed in the Stock Exchange of Thailand written by and published by . This book was released on 2009 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis investigates the relationship between corporate governance and cost of capital of the companies listed in the Stock Exchange of Thailand (SET) during 2000-2007. This study uses corporate governance index (CGI) which capture major aspects of corporate governance that are board structure, conflict of interest, board responsibility, shareholder rights, and disclosure and transparency. The cost of debt is estimated by predicting the credit rating which estimated by Altman model, Blume model, Campbell model, Shumway model and Zmijewski model and being converted in to the cost of debt by using the yield spread technique. The cost of equity calculated from CAPM, three-factor model, DDM and Easton model. After ignoring invalid model namely CAPM and DDM, the regression result shows a negative relationship between corporate governance, the cost of debt, the cost of equity and the cost of capital. The result can be interpreted that corporate governance can reduce the cost of capital.

Download or read book Influence of Firm Size on Cost of Capital Through Corporate Social Responsibility Disclosure of the Listed Companies in the Stock Exchange of Thailand written by Dararat Phoprachak and published by . This book was released on 2018 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this research is to investigate the relationship between corporate social responsibility disclosure and cost of capital of different firm sizes listed on the stock exchange of Thailand. This was achieved through the multiple indicator and multiple cases model (MIMIC) of 370 companies listed on the stock exchange of Thailand. The analysis of firm size in this study indicates that small-sized (SIZES) medium (SIZEM) and large-sized (SIZEL) firms have effect on the cost of capital in terms of debts (COD) only with through corporate social responsibility disclosure. The statistical result indicates that the effect of size on corporate social responsibility disclosure and cost of capital in small companies has an indirect, positive effect on the cost of capital in terms of debts (COD) through corporate social responsibility disclosure, with a significance level of .01 and correlation coefficient of 0.17. In comparison the medium and large companies has a negative effect, with a significance level of .05 and correlation coefficient of 0.05 of the medium companies and large companies has a negative with a significance level of .01 and correlation coefficient of 0.09.

Download or read book The Balanced Scorecard of Thailand Listed Companies and Performance Implications written by Kittiya Yongvanich and published by . This book was released on 2009 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study proposes a framework for classifying BSC into three different usage types and this is used to examine BSC usage among the Stock Exchange of Thailand (SET) listed companies, perceived benefits gained, and effects on financial performance. So far, there is little published evidence on BSC usage in Thailand. This paper provides a descriptive analysis of how the BSC is being used in the sample companies. The results shed light on weather a particular type of BSC usage by companies could whether only some types of BSC usage are significantly associated with company financial performance.