THE INFLUENCE OF ENVIRONMENTAL SOCIAL AND CORPORATE GOVERNANCE RESPONSIBILITIES ON THE PERFORMANCE OF COMPANIES LISTED IN THE STOCK EXCHANGE OF THAILAND
Keywords:
Environment, Social, และ Governance, Performance The Stock Exchange of ThailandAbstract
The purpose of this research is to study the relationship between environmental, social responsibility and corporate governance on the performance of the organization companies listed on the Stock Exchange of Thailand. A sample of 472 companies. Secondary data methodology was used to collect data from publicly available reports and websites during the year 2019-2021. These mechanisms are 1) Corporate Governance Rating 2) ESG Rating 3) Annual General Shareholders’ Meeting Assessment Project 4) Thailand Sustainability Investment List and 5) Dow Jones Sustainability Index List. Firm performance, which uses the mean of Return on Assets (ROA), Return on Equity (ROE), and Tobin's Q were measured. Empirical results Organizations selected to be listed in Thailand Sustainability Investment have results of corporate governance assessment and was selected to be listed in the Dow Jones Sustainability Index will be ranked in the ESG 100 Multiple Regression analysis. The corporate governance assessment results of listed companies presented in the Corporate Governance Report of Thai Listed Companies have an inverse influence on the overall performance of companies listed on the Stock Exchange of Thailand.
References
Alareeni and Hamdan. (2020). ESG impact on performance of US S&P 500-listed firms.
Corporate governace, 20(7), 1409-1428.
Balatbat, M.C.A., Siew, R.Y.J. and Carmichael, D.G. (2012), “ESG scores and its influence on
Firm performance: Australian evidence”, School of Accounting Seminar Series
Semester, pp. 1-30.
Chiong, P.T.N. (2010). Examination of Corporate Sustainability Disclosure Level and Its
Impact On Financial Performance. University of Multimedia.
Fisher-Vanden, K. and Thorburn, K.S. (2011). Voluntary corporate environmental initiatives
and shareholder wealth. Journal of Environmental Economics and Management,
Vol. 62 No. 3, pp. 430-445.
Jaggi, B. & Freedman, M. (1992). An examination of the impact of pollution performance on
economic and market performance: pulp and paper firms. Journal of Business
Finance and Accounting, vol. 19, no. 5: 697–713.
Patsiri Sornsongkram. (2017). Environment, Social, Governance (esg) and firm performance
(Tobin’s Q) of listed Thai energy and Resources companies. The degree of master of Science Financial management. Faculty of commerce and Accountancy Thammasat University.
Punnee Kumpolkunjana. (2015). The Corporate Social Responsibility disclosure of SET 100
index listed companies on stock exchange of Thailand. The degree of master of
accounting Faculty of commerce and Accountancy Thammasat University
Thaipat Institute. (2022). Environmental, Social, and Governance (ESG). Retrieved June 26,
https://www.thaicsr.com/2021/01/environmental-social-and-governance-
The Stock Exchange of Thailand. (2022). Thailand Sustainability Investment (THSI) List 2015-2021.
Retrieved June 5, 2022. https://www.setsustainability.com/libraries/710/item/thailand-sustainability-investment- Lists.
The Securities and Exchange Commission, Thailand. (2022). CG Thailand for sustainability of
business and society. Retrieved June 29, 2022.
https://www.sec.or.th/cgthailand/EN/Pages/Assessment/ListedCompanyLevel.aspx.
Downloads
Published
Issue
Section
License
Copyright (c) 2023 Suvarnabhumi Institute of Technology
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
The articles published are copyrighted by the Sarasas Journal of Humanities and Social Science. The opinions expressed in each article in this academic journal are those of the individual authors and do not reflect the views of Sarasas Suvarnabhumi Institute of Technology. The authors are solely responsible for all aspects of their respective articles. Any errors or inaccuracies in the articles are the sole responsibility of the authors.
