Corporate Social Responsibility of Environmental and Corporate Governance Towards the Operating Results of ESG100 Groups

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Sirirat Poungsangsuk
Vansiri Prasoetthap


The purpose of this research was to study the relationship between corporate social responsibility (CSR) on the environment and corporate governance towards the return on total assets (ROA), the return on equity (ROE), the net profit margin (NPM), and the gross profit margin (GPM). To collect data between 2017 and 2021 on 48 companies listed on the Stock Exchange of Thailand that were related to the energy and utilities sectors. and the data was analyzed using descriptive statistics such as frequency, percentage, mean, and standard deviation. Likewise, inferential statistics, including Pearson’s correlation analysis and multiple regression analysis, were used in this research as well. The results of the research were 1) and 3) corporate governance assessment results of listed companies (CGR), being ranked in the ESG 100 (ESG), being selected to be listed in the Thailand Sustainability Index (THIS), and receiving sustainability awards for the disclosure of corporate governance. ESG information and CSR positively correlate with performance. The variables selected for the Dow Jones Sustainability Index (DJSI) correlate negatively with the operating results: 2) Corporate Governance Assessment Results of Listed Companies (CGR) Ranking in the ESG 100 (ESG) Inclusion in the Thailand Sustainability Index (THIS). The variables of receiving sustainability awards for ESG disclosure (CSR) and being selected for the Dow Jones Sustainability Index (DJSI) are negatively correlated with the operating results; 4) positive factors for ESG 100 (ESG), being selected for the Thailand Sustainability Index (THIS), receiving the Sustainability Award for ESG Disclosure (CSR), and being selected to be listed in the Dow Jones Sustainability Index (DJSI) are negatively correlated with performance.

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Poungsangsuk, S., & Prasoetthap, V. (2024). Corporate Social Responsibility of Environmental and Corporate Governance Towards the Operating Results of ESG100 Groups. Rajapark Journal, 18(57), 171–187. Retrieved from
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