The relationship between corporate Governance and The sustainability report Disclosure of financial firms: an empirical study from The stock exchange of Thailand

Abstract

This research collected data from financial statements, Form 56-1, annual reports, and
sustainability reports of listed companies in the Stock Exchange of Thailand and the Market for Alternative Investment in financial industry during 2553-2557 B.E. The population is 303 firm-years. Data were analyzed using descriptive statistics and multiple regression analysis in order to test the hypothesis at the .05 level of significance. This research finds that, on average, 18% of financial firms in the Stock Exchange of Thailand
disclose the sustainability report, with the maximum of 52% disclosure and minimum of 10% disclosure. Furthermore, we measure 3 aspects of sustainability report and find that listed companies report economic sustainability the most (52%), social sustainability the second (18%), and environment sustainability the least (10%). When considering each year from 2553 B.E., listed companies tend to disclose their sustainability reports more and more every year. This study also finds that proportion of independent directors and proportion
of directors attending the meetings are positively related to the sustainability report
disclosure.