CORPORATE GOVERNANCE, FIRM PERFORMANCE AND MARKET VALUE: LISTED FIRMS IN THAILAND (MAI)
Keywords:
Corporate Governance, Firm Performance, Market ValueAbstract
The purposes of this research are 1)study the relationship between Corporate Governance (Shareholder structure, Board of Directors Structure, Directors' remuneration and Audit fee) and Firm Performance of listed companies in the Stock Exchange of Thailand in the MAI group, 2) study the relationship between the Firm Performance and Market Value of the listed companies in the Stock Exchange of Thailand in the MAI group, and 3) study the relationship between results Impact of Corporate Governance (Shareholder structure, Board of Directors Structure, Directors' remuneration and Audit fees) on the Firm Performance and Market Value of listed companies in the Stock Exchange of Thailand in the MAI group using quantitative research. The sample group is the listed companies in the Stock Exchange of Thailand in the MAI group total 77 companies, analyzed by statistical analysis, Structural Equation Model (SEM). The research found that: 1) The development of the causal relationship model of Corporate Governance composed of Shareholder structure, Board of Directors Structure, Directors' remuneration and Audit fee follow the causal relationship model of Firm Performance and the Market Value to the market price. The structural equation model is appropriate in accordance with the empirical data, and 2) Corporate Governance by Board of Directors Structure, Directors' remuneration and Audit Fee, there are relationship with the operating results and affecting the Market value to the market price with statistical significance.
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