DISCRIMINANT ANALYSIS OF CORPORATE SOCIAL ENTREPRENEURSHIP CHARACTERISTICS AFFECTING CORPORATE ECONOMIC SUSTAINABILITY IN THE STOCK EXCHANGE OF THAILAND
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Abstract
The objectives of this research were to identify and explain important factors of corporate social entrepreneurship which can discriminate the economic sustainable companies in the Stock Exchange of Thailand. This study collected the secondary data from SETSMART database and stock market website. The averages of annual data of 402 listed companies of Stock Exchange of Thailand (SET) during period 2012 to 2014 were used for analysis. Descriptive statistics and discriminant analysis have been employed. The equation of this research was D = β0+β1COLL + β2LETTER + β3PROMO + β4REPORT + β5STAKE + β6DIV + β7OPP + β8MISSION + β9ACT + β10CGR + β11IND + β12DUAL. The new 12 quantitative variables for corporate social entrepreneurship factor of this study were developed. The results showed that (1) the averages of the percentage of Independent Directors in the Board (IND) and separation of the Chairman of the Board from the Managing Director (DUAL) were not different between the companies with sustainable and unsustainable economic conditions, but other independent variables were significantly different; (2) the standardized discriminant function of this study was Z’ = 0.519ZSTAKE + 0.643ZDIV + 0.364ZCGR. From the coefficients of independent variables, it was found that the best discriminant variable was dividend yield (DIV), followed by numbers of information channel for stakeholders (STAKE) and corporate governance rating (CGR) respectively; and (3) the equation derived from the research can correctly classify the original grouped cases by 69.2 percent, based on the probability of being accurately predicted.
Article Details
1. กองบรรณาธิการสงวนสิทธิ์ในการพิจารณาและตัดสินการตีพิมพ์บทความในวารสาร
2. บทความทุกเรื่องจะได้รับการตรวจสอบทางวิชาการโดยผู้ทรงคุณวุฒิ แต่ข้อความและเนื้อหาในบทความที่ตีพิมพ์เป็นความรับผิดชอบของผู้เขียนแต่เพียงผู้เดียว มิใช่ความคิดเห็นและความรับผิดชอบของมหาวิทยาลัยศรีปทุม
3. การคัดลอกอ้างอิงต้องดำเนินการตามการปฏิบัติในหมู่นักวิชาการโดยทั่วไป และสอดคล้องกับกฎหมายที่เกี่ยวข้อง
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