Factors Affecting the Price of Medical Sector Securities in the Stock Exchange of Thailand from 2013 to 2021

Abstract

A study of the factors affecting the price of medical business securities on the Stock Exchange of Thailand aimed to study the trend of price movements of medical business securities in each quarter to plan strategies for making investment decisions, and to study economic variables that affected the price of medical sector securities. The variables in this study were: Coronavirus 2019 infection, inflation rate, real interest rates, GDP,  GDP of health and social group, economic growth rate, SET 100, exchange rate of the baht to the US dollar, Dow Jones index and net profits of private hospitals in Thailand. The data for the study were from the 1st quarter of 2013 to the 2nd quarter of 2021, a total of 34 quarters of all 23 private hospitals listed on the Stock Exchange of Thailand. The statistics used for data analysis were descriptive statistics and ordinary least squares linear multiple regression to analyze the correlation between the stock prices and independent variables. The results of the study found that the factors having the greatest effect on the price of medical sector securities on the Stock Exchange of Thailand with statistical significance at 0.01 were Dow Jones Index and the net profits of private hospitals in Thailand, followed by GDP and SET 100 that were statistically significant at 0.05.