THE ANALYSIS OF THE INFLUENCE OWNERSHIP STRUCTURE OF VALUE RELEVANCE OF ACCOUNTING INFORMATION IN LISTED COMPANIES ON THE STOCK EXCHANGE OF THAILAND

Abstract

                 This article of aimed to check on the conformity between the developed model and the empirical data; thus, to test on the structural influence of ownership structure the values relevance of accounting information of the listed companies in the Stock Exchange of Thailand. The author conducted literature review on the relevant document, textbooks, and researches then, collected data from the listed companies Stock Exchange of Thailand using the paper for data collection through form 56-1 on the annual company report. Research samples were the listed companies in the Stock Exchange of Thailand. There were 1,200 samples which were the listed companies in the Stock Exchange of Thailand for 5 years between B.E. 2556 – 2560 as retrieving from purposive sampling method. The statistics used for data analysis were the average and standard deviation. The statistics used for hypothesis testing were the analysis of SEM and Path analysis. It was found that the causal relationship model of the influential factors value relevance of accounting information to the hypothesis was conformed to the empirical data. The test of shareholder structure influences toward the values of accounting information was found that the ownership structure, the ratio of foreign ownership, the ratio of institution ownership, the ratio of government ownership, the ratio of Managerial ownership, and family ownership had a positive influence value relevance of accounting information. Since the characteristics of the structure of shareholder could lead to the value relevance of accounting information that would result on the decision of investors. The analysis on the association of the accounting information was used to generate the new knowledge on the administration of each characteristic of ownership structure that could influence on the credibility of financial information.