The Relationship between Research and Development Disclosure and Financial Performance of Listed Companies in the Stock Exchange of Thailand (SET)


  • วีระวรรณ ศิริพงษ์
  • นิตินันท์ พราหมหันต์
  • ปนัดฐา พิมพกาญจน์
  • จิราภรณ์ ปัญญายิ่ง
  • สุชาวดี แสงศรี
  • อิศรา มาลาวัยจันทร์
  • มัทนชัย สุทธิพันธ์


Research and Development Disclosure, Financial Performance, The Stock Exchange of Thailand


The objective of this study is to (1) examine the extent, nature and level of research
and development disclosure in listed companies in the Stock exchange of Thailand (2)
compare the level of research and development disclosure in the listed companies in SET100
between 2015 and 2016, and between 2016 and 2017 (3) test the relationship between the
research and development disclosure and financial performance of the listed companies. This
study collects data from annual reports of the selected 55 listed in SET100 between 2015 to
2017 and uses descriptive analysis t-test and multiple regression to analyze the data of study.
The study reveals that there is an increase in the disclosure of research and development
expenditure between 2015 and 2017 and there is a significant difference in the level of
research and development disclosure between 2015 and 2016. Furthermore, the study finds
that there is a significant relationship between the research disclosure, company’s risk, and
financial performance. However, the study reveals that there is no relationship between
development expenditure disclosure and firm’s financial performance






บทความวิจัย (Research Article)