ความสัมพันธ์ของผลการดำเนินงานและคุณภาพกำไรต่อราคาตลาดหลักทรัพย์ของบริษัทจดทะเบียนในตลาดหลักทรัพย์แห่งประเทศไทย กลุ่มอุตสาหกรรมเทคโนโลยี Relationship among Performance and Earnings Quality on Market Stock Price of Listed Companies in the Stock Exchange of Thailand in the Technology Industry Group

Abstract

This research aims to investigate the relationship among business performance and earnings quality on market stock price of listed companies in the Stock Exchange of Thailand. The sample in this study consisted of 33 companies listed in the technology industry group. The data on quarterly financial statements from 2014 to 2016, or 12 quarters in total were examined. This examined data were based on secondary data from financial reports available in the Stock Exchange of Thailand’s online database. Statistics used in data analysis consisted of descriptive statistics and inferential statistics. Descriptive statistics used were mean and standard deviation. Regarding inferential statistics, Pearson Correlation and Multiple Regression were employed with statistically significant at 0.05 level. The results showed that the Return on Equity (ROE), the Earnings Before Interest Tax Depreciation and Amortization (EBITDA), earnings quality analyzed by Working Capital Accruals (WCA), and earning quality analyzed by Total Net Operation Accruals (NOA) were found to have positive relationships with the market stock price. However, the exchange rate on the US dollar was found to have a negative relationship with the market stock price.