การรายงานข้อมูลทางการเงินที่เป็นมาตรฐานเดียวกันส่งผลต่อต้นทุนส่วนของผู้ถือหุ้น

บทคัดย่อ

This research had the objective to study the effect of a unified standard for reporting financial data on capital cost of shareholders of companies listed on the Stock Exchange of Thailand (SET). During 1997-2007, there were 4,535 sample data points using the same standard format for reporting financial data. The researcher conducted a pre- and post-assessment of the application of the XBRL technology. The capital asset of shareholders was calculated using the Capital Asset Pricing Model (CAPM). This study found that standard reporting of financial data had a statistically significant negative association with capital asset of shareholders. That finding indicates that a unified standard of reporting of financial data reduces asymmetric information exchange between company management and shareholders and, in turn, reduces risk. This also reduces the capital asset of shareholders at the same time.