Will IPO in Asean Lead Better Performance?
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บทคัดย่อ
This research aims to prove whether or not Initial Public Offering (IPO) within ASEAN capital market brings about better accounting performance. The study focuses on accounting performance by using multiple regression analysis to analyze data from 2,677 listed companies in six ASEAN countries which are Thailand, Indonesia, Malaysia, Philippines, Singapore, and Vietnam for 26 years from 1994 to 2019 which have totally 31,790 firm-year observations. Results empirically shows that IPO has a negative relationship with accounting performance because the owners of IPO firm need to sacrifice cost for agency control in order to maintain their maximum benefit. This study can bridge and add more literature of the IPO study. The research explores all significant countries in ASEAN in the effect of Initial Public Offering (IPO) on accounting performance covering all available data up to the year before COVID-19 pandemic. This study explores more opportunity in future research to deeply discover and study in each interesting issue of the empirical evidence. This study provides empirical evidence for consideration to whom aims to pursue IPO. The management and investors can observe the results of this study to support their decision making. In addition, regulators can improve policies to prevent earnings manipulation and fraudulence.
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เนื้อหาและข้อมูลในบทความที่ลงตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นข้อคิดเห็นและความรับผิดชอบของผู้เขียนบทความโดยตรงซึ่งกองบรรณาธิการวารสารไม่จำเป็นต้องเห็นด้วยหรือร่วมรับผิดชอบใด ๆ
บทความ ข้อมูล เนื้อหา รูปภาพ ฯลฯ ที่ได้รับการตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นลิขสิทธิ์ของวารสารสภาวิชาชีพบัญชี หากบุคคลหรือหน่วยงานใดต้องการนำข้อมูลทั้งหมดหรือบางส่วนไปเผยแพร่ต่อหรือเพื่อกระทำการใดๆ จะต้องได้รับอนุญาตเป็นลายลักษณ์อักษรจากวารสารสภาวิชาชีพบัญชี ก่อนเท่านั้น
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