CORPORATE GOVERNANCE FACTORS AFFECTING THE PERFORMANCE AND STOCK PRICES OF COMPANIES IN THE AGRICULTURE & FOOD INDUSTRY LISTED ON THE STOCK EXCHANGE OF THAILAND

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Published: Dec 28, 2025
Keywords:
Corporate Governance Firm Performance Stock Prices The Stock Exchange of Thailand The Agriculture and Food Industry

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Thanatchon Jangkhum
Faculty of Business Administration and Information Technology, Rajamangala University of Technology Suvarnabhumi Suphanburi Campus
Pitan Sanpakdee
Faculty of Business Administration and Information Technology, Rajamangala University of Technology Suvarnabhumi Suphanburi Campus
Pathompong Kookkaew
Faculty of Business Administration and Information Technology, Rajamangala University of Technology Suvarnabhumi Suphanburi Campus

Abstract

This study aimed to examine the corporate governance influencing performance metrics, including return on assets (ROA), return on equity (ROE), net profit margin (NPM), and stock price (SP) of agricultural and food industry companies listed on the Stock Exchange of Thailand from 2019 to 2023, encompassing a total of 65 companies over a five-year period. The statistical evaluation consisted of Pearson's correlation coefficient and multiple regression analysis. The research findings indicated that, within the comprehensive landscape of companies in the agricultural and food industry sector listed on the Stock Exchange of Thailand, corporate governance characteristics were correlated with company performance. Analysis revealed that the shareholding proportion of the company's directors (MOWN), the ratio of independent directors (IND), and the total number of board directors (BS) influenced the company's performance regarding return on total assets. Additionally, the shareholding proportion of the company's directors (MOWN) and the total number of board directors (BS) impacted the stock price.

Article Details

Issue
Vol. 16 No. 32 (2025): July-December 2025
Section
บทความวิจัย (Research Article)
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

สงวนลิขสิทธิ์ © 2553 คณะเศรษฐศาสตร์ มหาวิทยาลัยศรีนครินทรวิโรฒ

        คณะเศรษฐศาสตร์ มหาวิทยาลัยศรีนครินทรวิโรฒ จัดพิมพ์วารสารเศรษฐศาสตร์และนโยบายสาธารณะ เพื่อเผยแพร่บทความวิชาการทางเศรษฐศาสตร์ นโยบายสารธารณะ และสาขาอื่นๆที่เกี่ยวข้อง ทัศนะและข้อคิดเห็นใดๆที่ปรากฏในวารสารเป็นความคิดเห็นส่วนตัวของผู้เขียน โดยบทความที่ได้รับการตอบรับจะถือเป็นลิขสิทธิ์ของคณะเศรษฐศาสตร์ มหาวิทยาลัยศรีนครินทรวิโรฒ

บรรณาธิการ ผู้ช่วยศาสตราจารย์ ดร.ณัฐญา  ประไพพานิช

 

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