The Relationship between Corporate Sustainability Disclosure and Financial Performance: Case Study of Listed Company in Thailand

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Promporn Poowadin
Wanchai Prasertsri
Napaporn Nilapornkul


Corporate sustainability reports have become part of the strategic planning of organizations, Since it is not mandatory in many countries, corporate sustainability report is usually voluntary. The most commonly used sustainability reporting framework follows the guidelines of the Global Reporting Initiative. The main purpose of this study is to investigate the relationship between corporate sustainability disclosures and financial performance with reference to listed companies in Thailand. GRI index data was collected from corporate sustainability reports and financial data was obtained from annual company reports from 2010 - 2014. Data was statistically analyzed by multiple regression. GRI indicators were employed to assess progress within six criteria: economic, environmental, labor, society, human right, and product responsibility. Financial performance measures include: ROA, ROE and NET. Analysis results illustrated that corporate sustainability disclosure has a significant relationship with ROA and NET. The analysis of the results of study examine the relationship of corporate suitability disclosure and financial performance. The GRI emphasizes a company’s consider those environment and social features that are significant to its key stakeholders and have the most significant impacts on its business. Organization which use the GRI guideline are strongly encouraged to submit their stability discourser reports to external assurance and corporate sustainability disclosure is an important driver for organizations towards better financial performance and organizational sustainability

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Poowadin, P. . ., Prasertsri , W. . ., & Nilapornkul, N. . . (2020). The Relationship between Corporate Sustainability Disclosure and Financial Performance: Case Study of Listed Company in Thailand. Dusit Thani College Journal, 12(3), 429–444. Retrieved from
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