Factor Analysis of Agricultural Cooperative Financial Ratios in Chiang Mai Province

Abstract

   The independent study Factor Analysis of Financial Ratios of Agricultural Cooperatives in Chiang Mai Province aimed at analyzing the financial statements by using CAMELS analysis and factor analysis. The study used the data from the financial statements in the fiscal year of 2013 and 2014 of 89 agricultural cooperatives in Chiang Mai Province. The data were analyzed by applying CAMELS Analysis. The study, then, applied descriptive statistics to analyze data as follows: means, standard deviation and median. In addition, the study performed the method of factor analysis to extract only relevant ratios and to form new groups of ratios which were called factors.
   For CAMELS analysis and descriptive statistics, we found that the capital strength of the samples was lower than those from the overall of Thailand’s agricultural cooperatives. Secondly, we discovered that the samples had lower quality of assets than those from the overall of agricultural cooperatives. Third, we found that the samples had a better performance comparing to those from the overall of agricultural cooperatives. Fourth, we found that the samples excelled the overall of agricultural cooperatives in profitability. Lastly, the samples had better liquidity than the overall of agricultural cooperatives.