ความสัมพันธ์ระหว่างคุณลักษณะคณะกรรมการกับผลการดำเนินงาน : หลักฐานจากบริษัทจดทะเบียนในตลาดหลักทรัพย์แห่งประเทศไทย

 

The Relationship between Board Characteristics and Firm
Performance: Evidence from Listed Companies on
The Stock Exchange of Thailand

 

 

วันที่ได้รับต้นฉบับบทความ :
25 เมษายน 2567

วันที่แก้ไขปรับปรุงบทความ :
30 พฤษภาคม 2567

วันที่ตอบรับตีพิมพ์บทความ :
13 มิถุนายน 2567

 

ดร.ภาวินีย์ ธนาอนวัช

อาจารย์ประจำหลักสูตรบัญชีบัณฑิต

คณะวิทยาการจัดการ มหาวิทยาลัยราชภัฏพระนครศรีอยุธยา

ดร.อนุวัฒน์ ภักดี

รองศาสตราจารย์ประจำหลักสูตรบัญชีบัณฑิต

คณะวิทยาการจัดการ มหาวิทยาลัยราชภัฏจันทรเกษม

(ผู้ประสานงานหลัก)

 

 

Received:
Apirl 25, 2024

Revised:
May 30, 2024

Accepted:
June 13, 2024

 

Dr.Pawinee Thanaanawat

Lecturer in the Bachelor of Accountancy program,

Faculty of Management Sciences, Phranakhon Si Ayutthaya Rajabhat University
Dr.Anuwat Phakdee

Associate Professor of Department of Accounting,

Faculty of Management Sciences, Chandrakasem Rajabhat University

(Corresponding Author)

 

 

คำสำคัญ :

คุณลักษณะของคณะกรรมการ
ผลการดำเนินงาน
ตลาดหลักทรัพย์แห่งประเทศไทย

บทคัดย่อ

งานวิจัยนี้มีวัตถุประสงค์ เพื่อศึกษาความสัมพันธ์ระหว่างคุณลักษณะของคณะกรรมการกับผลการดำเนินงานของบริษัทจดทะเบียนในตลาดหลักทรัพย์แห่งประเทศไทยในช่วงปี พ.ศ. 2562-2565 โดยใช้ข้อมูลจำนวน 1,708 ตัวอย่าง (ปี-บริษัท) ตัววัดผลการดำเนินงานในงานวิจัยนี้วัดค่าจากฐานข้อมูลทางตลาดและฐานข้อมูลทางบัญชี และใช้เทคนิคการวิเคราะห์ถดถอยพหุคูณในการทดสอบสมมติฐานงานวิจัย ผลการวิจัยพบว่า ขนาดคณะกรรมการ ประธานกรรมการเพศหญิงคณะกรรมการที่มีความเชี่ยวชาญด้านบัญชีการเงิน และคณะกรรมการต่างชาติมีความสัมพันธ์เชิงลบกับผลการดำเนินงาน ในทางตรงข้ามพบว่า คณะกรรมการเพศหญิงและคณะกรรมการที่จบการศึกษาสูงสุดในระดับปริญญาเอกมีความสัมพันธ์เชิงบวกกับผลการดำเนินงาน อย่างไรก็ตาม ผลการวิจัยนี้พบว่า ผลกระทบจากช่วงเวลาก่อน COVID-19 และระหว่าง COVID-19 รวมทั้งความแตกต่างของอุตสาหกรรมทำให้ความสัมพันธ์ระหว่างคุณลักษณะของคณะกรรมการกับผลการดำเนินงานแตกต่างกัน

 

 

Keywords:
Board Characteristics,
Firm Performance,
The Stock Exchange of Thailand

ABSTRACT

This research aims to study the relationship between board characteristics and firm performance of listed companies on the Stock Exchange of Thailand during 2019-2022, using a sample of 1,708 firm-years. Firm performance measures in this research are obtained from market and accounting bases. Multiple regression analysis techniques are used to test research hypotheses. The research results indicate that board size, financial and accounting expertise, and foreign boards negatively correlate with firm performance. In contrast, female boards and boards with the highest educational attainment at the doctorate level have a positive relationship with firm performance. However, the results of this research suggest that the effects of the pre-COVID-19 and during COVID-19 periods, as well as industry differences, led to the conclusion that the relationship between board characteristics and performance varied.

 

 

 

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