Impact of Corporate Governance and Financial Flexibility on Firm Value in the COVID-19 Crisis: A Case Study of Companies in the Stock Exchange of Thailand
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Abstract
This article aims to investigate the relationship of corporate governance and financial flexibility and the firm value and also study the impact of COVID-19 on the relationship of financial flexibility to firm value. This study examines from financial statements and annual reports of 524 companies listed on the Stock Exchange of Thailand during 2018 - 2021. Descriptive statistics, Pearson correlation analysis, and multiple regression analysis were all used to analyze the data.
The results reveal that board gender diversify and financial flexibility is positively correlated with firm value. While board duality is negatively correlated with the firm value. It is also found that financial flexibility Increases firm value in the COVID-19 crisis. These findings lead companies and investors to aware of the importance of financial flexibility that the board of director can use as a tool to add value to the business.
Article Details
เนื้อหาและข้อมูลในบทความที่ลงตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นข้อคิดเห็นและความรับผิดชอบของผู้เขียนบทความโดยตรงซึ่งกองบรรณาธิการวารสารไม่จำเป็นต้องเห็นด้วยหรือร่วมรับผิดชอบใด ๆ
บทความ ข้อมูล เนื้อหา รูปภาพ ฯลฯ ที่ได้รับการตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นลิขสิทธิ์ของวารสารสภาวิชาชีพบัญชี หากบุคคลหรือหน่วยงานใดต้องการนำข้อมูลทั้งหมดหรือบางส่วนไปเผยแพร่ต่อหรือเพื่อกระทำการใดๆ จะต้องได้รับอนุญาตเป็นลายลักษณ์อักษรจากวารสารสภาวิชาชีพบัญชี ก่อนเท่านั้น
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