Kitikun Silapamahabandit. The relationship between corporate governance and return. Master's Degree(Business Administration). Kasetsart University. Office of the University Library. : Kasetsart University, 2020.
The relationship between corporate governance and return
an empirital study of the listed companies in the stock exchange of Thailand in the SET 100 index
Abstract:
The purpose and objective of this thesis is to examine and analyze the relationship between corporate governance and common stock return in the Stock Exchange of Thailand in the SET 100 index group. Included companies in SET 100 index of three-years range from 2014 to 2016. Corporate governance is measured by the number of board of directors, the number of board of directors meeting, the proportion of top executives to the board of directors, the proportion of independent directors to the board of directors, and the amount of board of directors' compensation. In addition, dividend-adjusted return is analyzed. Multiple linear regression is estimated to examine such relationship. A significant positive relationship between the number of board of directors meeting and return is found. On the other hand, a significant negative relationship related to the amount of board of directors' compensation is evident. In addition, the insignificant relationships of the proportion of top executives to the board of directors, the proportion of independent directors to the board of directors, and the number of board of directors are showed. It is suggested that an investor should consider the firm with a high number of board meetings and a low amount of board member compensation, and the company itself should find new forms of compensation rather than cash benefits.
Kasetsart University. Office of the University Library