Causal effects between good corporate governance and tax planning and performance of listed companies in the Stock Exchange of Thailand, SET100 group
Article Sidebar
Main Article Content
Abstract
This research aimed to study the effects of good corporate governance on firm value through tax planning in companies listed on the Stock Exchange of Thailand SET100. Excluding companies in the financial industry, the sample consists of 81 companies from the SET 100 index group. This research focuses on financial data for 405 firm-years between 2019 and 2023. Which uses the assessment form of good corporate governance of the Thai Institute of Directors Association (Thai IOD), tax planning and performance. The data was statistically analyzed using structural equation modeling (SEM) and path analysis techniques. The study found that good analyzed using SEM and path analysis techniques. The study found that good corporate governance influences performance. Tax planning measured by the ratio of tax to total assets influences performance. Good corporate governance influences tax planning measured by the ratio of tax to total assets. Furthermore, good corporate governance influences both directly and indirectly positively on performance through tax planning.
Downloads
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
บทความที่ได้รับการตีพิมพ์เป็นลิขสิทธิ์ของวารสารการบัญชีและการจัดการ
ข้อความที่ปรากฏในบทความแต่ละเรื่องในวารสารวิชาการเล่มนี้เป็นความคิดเห็นส่วนตัวของผู้เขียนแต่ละท่านไม่เกี่ยวข้องกับมหาวิทยาลัยมหาสารคาม และคณาจารย์ท่านอื่นๆในมหาวิทยาลัยฯ แต่อย่างใด ความรับผิดชอบองค์ประกอบทั้งหมดของบทความแต่ละเรื่องเป็นของผู้เขียนแต่ละท่าน หากมีความผิดพลาดใดๆ ผู้เขียนแต่ละท่านจะรับผิดชอบบทความของตนเองแต่ผู้เดียว
References
Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance. Journal of financial economics, 94(2), 291-309.
Ammann, M., Oesch, D., & Schmid, M. M. (2011). Corporate governance and firm value: International evidence. Journal of Empirical Finance, 18(1), 36-55.
Abbott, L. J., Parker, S., & Peters, G. F. (2004). Audit committee characteristics and restatements. Auditing: A journal of practice & theory, 23(1), 69-87.
Bodhiprasart, S. (2007). Relationship between financial ratio change of securities price: case study: listed companies in development business group real estate. (Independent research). Thammasat University. Thailand.
Boussenna, H. (2020). Board of directors’ size and firm performance: evidence from non-financial French firms listed on cac 40. Studies in Business and Economics, 15(2), 46-61.
Butsalee, P., & Sincharoonsak, T. (2020). Intellectual capital as an enterprise value measurement. Academic Journal of Buriram Rajabhat University. 12(1),127-141.
Chotisuwan, R. & Thongkon, S. (2019). The relationship between tax planning and the price of ordinary shares of listed companies in the Stock Exchange of Thailand. RMUTT Global Business and Economics Review. 14(1), 23-36.
Chernwiriyakul, W., & Srijunpeth, S. (2022). The relationship between corporate governance rating, board of directors, family ownership and tax planning of listed companies on the stock exchange of Thailand. Journal of Kasetsart Applied Business, 16(25), 25-47.
Connelly, C. E., Zweig, D., Webster, J., & Trougakos, J. P. (2012). Knowledge hiding in organizations. Journal of organizational behavior, 33(1), 64-88.
Dechow, P. M., & Dichev, I. D. (2002). The quality of accruals and earnings: The role of accrual estimation errors. The accounting review, 77(s-1), 35-59.
Desai, M. A., & Dharmapala, D. (2009). Corporate tax avoidance and firm value. The review of Economics and Statistics, 91(3), 537-546.
Dhaliwal, D. S., Gleason, C. A., Heitzman, S., & Melendrez, K. D. (2008). Auditor fees and cost of debt. Journal of accounting, auditing & finance, 23(1), 1-22.
Dyreng, S. D., Hanlon, M., & Maydew, E. L. (2010). The effects of executives on corporate tax avoidance. The accounting review, 85(4), 1163-1189.
Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control. The journal of law and Economics, 26(2), 301-325.
Gleason, C. A., & Mills, L. F. (2007). Evidence of differing market responses to beating targets through tax expense decreases. Available at SSRN 983612.
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2019). Multivariate data analysis (8th ed.). Boston: Cengage.
Ionescu, T. (2012). Exploring the nature of cognitive flexibility. New ideas in psychology, 30(2), 190-200.
Jensen, M., & Mecking, W. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Retrieved December 25, 2010, from http://papers.ssrn.com/sol3/papers.cfm? abstract_id=94043
Khuong, N. V., Liem, N. T., Thu, P. A., & Khanh, T. T. (2020). Does Corporate Tax Avoidance Explain Firm Performance? Evidence from an Emerging Economy. Cogent Business and Management. 7(1),1-17.
Khumtonwong N. (2015). The relation between corporate governance and tax planning of the listed companies in the stock exchange of Thailand: Thammasat University.
Kulsiriwanit, T. (2021). Effects of corporate income tax planning on firm value of companies listed on the market for alternative investment. Journal of MCU Nakhondhat, 8(10), 219-234.
Lanis, R., & Richardson, G. (2011). The effect of board of director composition on corporate tax aggressiveness. Journal of accounting and Public Policy, 30(1), 50-70.
Lee, J. W., & Zhao, T. F. (2014). Dynamic relationship between stock prices and exchange rates: Evidence from Chinese stock markets. Journal of Asian Finance, Economics and Business, 1(1), 5-14.
Lanis, R., & Richardson, G. (2011). The effect of board of director composition on corporate tax aggressiveness. Journal of accounting and Public Policy, 30(1), 50-70.
Lubis, I. H., & Adhariani, D. (2019). Corporate Governance, Earnings Management and Tax Avoidance: Indonesia Evidence. In SU-AFBE 2018: Proceedings of the 1st Sampoorna University-AFBE International Conference, SU-AFBE 2018, 6-7 December 2018, Jakarta Indonesia (p. 301). European Alliance for Innovation.
Nguyen, T. H., Le, X. C., & Vu, T. H. L. (2022). An extended technology-organization-environment (TOE) framework for online retailing utilization in digital transformation: Empirical evidence from Vietnam. Journal of Open Innovation: Technology, Market, and Complexity, 8(4), 200.
Okoye, C. O., Nyaruaba, R., Ita, R. E., Okon, S. U., Addey, C. I., Ebido, C. C., ... & Chukwudozie, K. I. (2022). Antibiotic resistance in the aquatic environment: analytical techniques and interactive impact of emerging contaminants. Environmental toxicology and pharmacology, 96, 103995.
Sribunruang, K., & Sutthi, J. (2021). The Relationship between Tax-Planning and Firm Value of Companies Listed on The Market for Alternative Investment (MAI). Social Science Journal of Prachachuen Research Network, 3(3), 59-74.
Tang-an, K. (2022). Corporate Income Tax Planning that Effects the Firm Value of Companies Listed on the Stock Exchange of Thailand, SETCLMV Index Group]. Journal of Southern Technology. 15(1),84-94.
Thanjunpong, S., & Awirothananon, T. (2019). The effect of tax planning on financial performance in the stock exchange of Thailand. International Journal of Trade, Economics and Finance, 10(1), 25-29.
Phillips, R. (2003). Stakeholder theory and organizational ethics. Berrett-Koehler Publishers.
Wangtichob, P. (2024). Influence of Tax Planning and Earnings Management on the Business Performance of Listed Companies in the Stock Exchange of Thailand in SET100 Index. Journal of Humanities and Social Sciences Nakhon Phanom University, 14(2), 186-200.
Zaharia, C., & Zaharia, I. (2012). Corporate governance and the market value of firms. Economics, Management and Financial Markets, 7(4), 227.
