A Comparative Study of Companies Listed and Not Listed in the SET ESG Ratings

Abstract

This research consists purposes were 1. to compare the return on equity (ROE) of companies listed and not listed in the SET ESG Ratings 2. to compare the return on assets (ROA) of companies listed and not listed in the SET ESG Ratings 3. to compare the net profit margin of companies listed and not listed in the SET ESG Ratings and 4. to compare the overall profitability of companies listed and not listed in the SET ESG Ratings. This study employed a quantitative research methodology. The research instruments used were secondary documents, namely the Key Financial Ratio by Company, which contains financial statement data for all companies listed on the Stock Exchange of Thailand in the year 2024, and the SET ESG Ratings 2024 report. The data were collected from secondary sources and the population and sample consisted of all 618 companies listed on the Stock Exchange of Thailand in 2024. The collected data were analyzed using descriptive statistics, along with independent sample t-tests and Multivariate Analysis of Variance (MANOVA) to examine differences between groups. The research findings revealed that 1) Companies listed in the SET ESG Ratings and those not listed show a statistically significant difference in return on equity (ROE) 2) Companies listed in the SET ESG Ratings and those not listed show a statistically significant difference in return on assets (ROA) 3) Companies listed in the SET ESG Ratings and those not listed show no statistically significant difference in net profit margin and 4) Companies listed in the SET ESG Ratings and those not listed show statistically significant differences in profitability when analyzed by individual indicators.