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Received:
August 17, 2023
Revised:
November 8, 2023
Accepted:
November 16, 2023
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Dr.Rojana Khunkaew
Assistant Professor of Department of
Accountancy,
Faculty of Management Sciences, Prince of Songkla University
(Corresponding Author)
Dr.Muttanachai Suttipun
Associate Professor of Department of
Accountancy,
Faculty of Management Sciences, Prince of Songkla University
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Keywords:
Earnings Management, Performance, The Market for Alternative
Investment (MAI), Thailand
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ABSTRACT
This study aims to
investigate the relationship between earnings management and performance of
listed companies in the Market for Alternative Investment (MAI) in Thailand
during 2015 to 2019. The population and sample used in this study were all
listed companies in the MAI, and descriptive analysis, correlation matrix,
and unbalanced panel data analysis were used to analyze in this study. This
study found that there was a negatively significant relationship between
earnings management and performance of listed companies in the MAI. Moreover,
there was a positively significant relationship between firm value,
liquidity, and performance, while firm risk and firm age had a negative
correlation with performance. The studys findings
demonstrated that agency theory can explain the relationship between earnings
management and performance of listed companies from the alternative capital
investment in emerging economic countries as well as other developed
countries.
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