THE EFFECTS OF BOARD OF DIRECTORS ON STOCK TURNOVER THROUGH VOLUNTARY DISCLOSURE OF THAI LISTED COMPANIES

Abstract

This study aimed to examine the effects of board of directors on stock turnover through voluntary disclosure.  The research sample consisted of consisted of 323 companies of listed firms in all industry groups except financial industry. Data used were secondary data, which were collected during 2014. Data were analyzed by the structural equation model in this study.

The results showed that board of executives had negative effect on voluntary disclosure. Voluntary disclosure had positive effect on stock turnover. In regard to voluntary disclosure as mediation variable, it was found that board of executives had negative effect on stock turnover through voluntary disclosure. The research results also implied that the ownership concentration can make the policy and control of the organization performance to meet the needs of major shareholders and including blood screening, select the board of directors.