The influence of corporate governance, and sufficiency economy philosophy disclosure on corporate financial performance

The influence of corporate governance, and sufficiency economy philosophy disclosure on corporate... PurposeThe purpose of this paper is to investigate the nature and level of Sufficiency Economy Philosophy (SEP) disclosure in the annual reports of companies listed in the Stock Exchange of Thailand (SET), to test the influence of corporate governance on SEP disclosure, and to examine the influence of corporate governance, and SEP disclosure on corporate financial performance.Design/methodology/approachBy simple random sampling, 235 out of 569 companies in the SET were selected as the study sample. Content analysis by word count was used to explore the nature and level of SEP disclosure in the 2015 annual reports. Descriptive analysis and path analysis were used to analyze the data.FindingsThe results indicated that the average level of SEP disclosure in the 2015 annual reports was 1,235 words. The most common theme of SEP disclosure was morality disclosure following by reasonableness, self-immunity, knowledge, and moderation disclosures. There was a positive significant influence of firm size on level of SEP. Moreover, there was a positive significant influence of the level of SEP, and the size of committee on corporate financial performance.Originality/valueThe findings shed light on the SEP as developed by his Majesty the King Bhumibhol Adulyadej in the Thai setting. The study also endeavored to validate the relevance and applicability of the SEP concept to the sustainable development of the business sector. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asia-Pacific Journal of Business Administration Emerald Publishing

The influence of corporate governance, and sufficiency economy philosophy disclosure on corporate financial performance

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1757-4323
DOI
10.1108/APJBA-08-2017-0077
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to investigate the nature and level of Sufficiency Economy Philosophy (SEP) disclosure in the annual reports of companies listed in the Stock Exchange of Thailand (SET), to test the influence of corporate governance on SEP disclosure, and to examine the influence of corporate governance, and SEP disclosure on corporate financial performance.Design/methodology/approachBy simple random sampling, 235 out of 569 companies in the SET were selected as the study sample. Content analysis by word count was used to explore the nature and level of SEP disclosure in the 2015 annual reports. Descriptive analysis and path analysis were used to analyze the data.FindingsThe results indicated that the average level of SEP disclosure in the 2015 annual reports was 1,235 words. The most common theme of SEP disclosure was morality disclosure following by reasonableness, self-immunity, knowledge, and moderation disclosures. There was a positive significant influence of firm size on level of SEP. Moreover, there was a positive significant influence of the level of SEP, and the size of committee on corporate financial performance.Originality/valueThe findings shed light on the SEP as developed by his Majesty the King Bhumibhol Adulyadej in the Thai setting. The study also endeavored to validate the relevance and applicability of the SEP concept to the sustainable development of the business sector.

Journal

Asia-Pacific Journal of Business AdministrationEmerald Publishing

Published: Apr 3, 2018

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