Thanida Chitnomrath. The effect of financial decisions on market value of Thai listed companies in the SET CLMV Exposure Index. (). Dhurakij Pundit University. Learning Center and Library.. : , 2020.
The effect of financial decisions on market value of Thai listed companies in the SET CLMV Exposure Index
Abstract:
The objective of this research is to study the impact of financial decisions on market value of Thai listed companies in the SETCLMV Exposure index. Financial decisions studied include decisions in financing, investment, and dividend policy. Financial data of all 31 companies in the SETCLMV Exposure index which are large companies are collected from Form 56-1 for a period of 5 years from 2014-2018. The total data for analysis is equal to 152. The set of statistics used in the analysis consists of descriptive statistics and inferential statistics with multiple regression analysis including correlation analysis. The results show that the financial decisions in all 3 areas have a statistically significant impact on market value of large companies. Financing decisions as measured by debt to equity ratio and investment decisions as measured with return on asset ratio have positive effects to the ratio of market price to book value of common share as a proxy of market value while the decisions in dividend policy, which is measured by dividend yield ratio, has a negative effect on market value. The results indicate that financial decisions of large company (financing, investment, and dividend decisions) are important for an increase or decrease in the market value of large company.
Dhurakij Pundit University. Learning Center and Library.