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Piyanat Thunputtadom
Naruemol Ariyapim


           The research aimed to examine the impact of  corporate governance mechanisms and capital structure in stock exchange of Thailand. The quantitative research methods were used in this research to assess the selected samples of the Thailand Stock Exchange Listed Companies, which are recorded during 2012-2016  with the total of 1,665 data were used to analyze data. Statistics analysis used to enter multiple regression analysis and correlation to test the hypothesis for the mechanisms of corporate governance  on capital structure. The mechanisms of corporate governance consist of board size, board independence, board meeting, CEO Duality, Institutional ownership and Ownership concentration. Capital structure consist of  weighted average cost of capital (WACC).

          The research findings shown that impacts of board size, CEO duality, ownership concentration to enhance the significant negative impact on capital structure. Whereas the Board Independence and Institutional ownership have positive significant impacts on capital structure. Additionally, board meeting resulted in a negative relate to the capital of structure with its statistically insignificant. The empirical findings shed light on the role corporate governance mechanisms plays in capital structure, and thus offer insights to policy makers, investor, shareholders and board of directors interested to  appropriate financial management and strategies of firm.

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Thunputtadom, P., & Ariyapim, N. (2019). THE IMPACTS OF CORPORATE GOVERNANCE MECHANISMS AND CAPITAL STRUCTURE OF LISTED COMPANIES IN THE STOCK EXCHANGE OF THAILAND. Journal of Graduate School of Commerce-Burapha Review, 14(2), 95–111. Retrieved from


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