Relationship of Sustainability Report and Firm Value of  Sustainable Stocks Group in Thai listed Companies

sumintorn baotham; Jirapa  Chalatharawat

ผู้แต่ง

sumintorn baotham Assistant Professor, Faculty of Industry and Technology, Rajamangala University of Technology Isan, Sakon-Nakhon Campus
Jirapa Chalatharawat Lecturer, Faculty of Business Administration and Information Technology, Rajamangala University of Technology Isan, Khonkean Campus

คำสำคัญ:

ESG Score, financial performance, Firm Value, Sustainability Stock Group

บทคัดย่อ

This study aims to 1) examine the relationship between ESG score and the firm value of sustainable stock groups; 2) investigate the relationship between ESG score and the financial performance of these sustainable stock groups;
3) explore the relationship between financial performance and the firm value of sustainable stock groups; and 4) analyze how financial performance serves as a mediating variable in the relationship between ESG score and the firm value of sustainable stock groups in Thai listed companies. A sample of 192 firms was analyzed in 2023. ESG scores were obtained from the setsustainability.com website, while financial data was sourced from the SETSMART database. Pearson correlation analysis and OLS regression analysis were employed to analyze the data. The findings indicated a positive correlation between financial performance and firm value. However, there was no identified relationship between the ESG score and the firm value of the sustainable stock group. Additionally, financial performance was not recognized as a mediator in the relationship between the ESG score and the firm value of the sustainable stock group of Thai listed companies. It also adds the literature regarding the determinants of firm value on non-financial factors.

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