Relevance of lease agreement on the lessee side to the market value before and after the implementation of the TFRS 16 for lessees: A Case Study of A Business Group Listed on the Stock Exchange of Thailand: An Index Reflecting the Movement of the First 50 Stock Prices
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Abstract
The objectives of this are 1) to study the relevance of the lease agreement on the tenant side to market value. Before compliance with Financial Reporting Standards No. 16 regarding lease agreements 2) to study the relevance of lease agreements on the lessee side to market value. After compliance with Financial Reporting Standard No. 16, Lease Agreements. The sample group used in the study is Business groups listed on the Stock Exchange of Thailand The index group reflects the movement of the first 50 stock prices of 264 samples, collecting data from financial reports from the period 2017 - 2019, which is the period before the implementation of Financial Reporting Standards No. 16 regarding lease agreements and the period 2020 - 2022 is the period after the implementation of Financial Reporting Standards No. 16, a total of 24 quarters, and the data were analyzed for relationships using descriptive statistical analysis. Correlation analysis and multiple regression analysis.The research results found that Right-of-use assets (ROU) were found to have a positive relationship with market value in the period after the implementation of TFRS 16. Book value of shareholders' equity. Profit before finance costs, taxes, depreciation and amortization. and cash flow from operations Found a positive relationship with market value both before and after the implementation of TFRS 16, but total asset value and the ratio of total debt to total assets No relationship was found with the market value both before and after compliance with TFRS 16. Therefore, the financial report under the lease agreement on the lessee side according to Financial Reporting Standard No. 16 on Lease Agreements reflects a more fair representation.
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