Abstract:
This independent study aimed to investigate corporate governance, common stock returns and the influence of corporate governance on common stock returns of listed SET100 companies on the Stock Exchange of Thailand.
The samples used in this study were SET1 0 0 companies listed on the Stock Exchange of Thailand from 2017 to 2019. The secondary data were collected from the Stock Exchange of Thailand and Companies financial statements. The statistics used to analyze the data comprised descriptive statistics: maximum, minimum, percentage, mean, standard deviation, and inferential statistics: multiple regression analysis at a statistically significant level of .05.
The study results revealed that most of the sample companies had a corporate governance rating at the excellent level, followed by the levels labeled very good, good, and lower than good, or no score, respectively. The average of common stock returns was 3.07%. Additionally, companies in the sample group with excellent corporate governance, very good level, and good level, all had positive influences on the common stock returns at a statistically significant level of .05. The companies in the sample group with excellent corporate governance had the greatest positive influence on stock returns, followed by the
group with very good corporate governance and companies with good corporate governance, respectively.