@article{ศิริสม_เอี่ยมชุ่ม_2017, title={Human Capital and Firm Valuation: An Evidence from the Stock Exchange of Thailand}, volume={5}, url={https://so05.tci-thaijo.org/index.php/RMUTI_SS/article/view/189669}, abstractNote={<p>The objective of this research is fi nd the relationship between human capital and market value of equity, i.e. value relevance of human capital. The analysis has been conducted by using 368 fi rm year observations during the years 2010 - 2012 of listed fi rms in the Stock Exchange of Thailand (SET). Data were analyzed by multiple regression. The results show that human capital has a positive relationship with the market value of equity and reveal the incremental value relevance of human capital beyond the book value of equity. The industry, as a control variable in the regression model, has a signifi cant eff ect and the comparative analysis presents the signifi cant diff erence of human capital among fi rm sizes and industries. As a result, the evidence suggests to the existence of value relevance of human capital.</p>}, number={1}, journal={RMUTI Journal Humanities and Social Sciences}, author={ศิริสม จุลสุชดา and เอี่ยมชุ่ม วิชนี}, year={2017}, month={Jun.}, pages={147–159} }