Factors Influencing on Firm Value of Listed Companies on the Stock Exchange of Thailand: SET 100 Evidence

Abstract

The purposes of this study is to examine the important factors influencing on firm value and study the comparison of the industries influencing on firm value listed on the Stock Exchange of Thailand The sample use were the companies list on SET 100, including 46 companies. Collected data were retrieved, during 2013 – 2017. The statistical techniques use were descriptive statistics, Pearson Correlation and multiple Linear Regression. Four independent variables were employed, including debt ratio, the proportion of retained earnings per shareholders (RE/TE), firm size, and return on assets (ROA). While, dependent variable was firm value in term of Tobin’Q. Additionally, the study included growth gross domestic product (GDP) as a control variable.The study found two factors influencing on firm value at statistically significant 0.01, including debt ratio, and statistically significant 0.05, including return on assets.