IMPACT ON RETURN ON EQUITY OF CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE AND SHARE VALUE: EVIDENCE FROM THE STOCK EXCHANGE OF THAILAND

Abstract

This research examined the effects of equity returns on corporate social responsibility disclosure and shared value by using the data from the annual report of 354 listed companies on the Stock Exchange of Thailand in 2018 as the secondary data. Content analysis and checklist form were used to collect the information of companies on corporate social responsibility disclosure according to the guidelines of the Stock Exchange of Thailand and Thaipat institute. Descriptive statistics and multiple regression were used for data analysis. The results showed that the disclosure of corporate social responsibility had a positive and significant impact on the return on equity (ROE). The shared value (SV) had a positive and significant impact on the return of shareholders. Thus, the corporate social responsibility disclosure (CSRD) and shared value (SV) provide useful information to investors and stakeholders.