Factors Influencing Earnings Per Share of Listed Companies in the Stock Exchange of Thailand : A Case Study of Financial and Service in Commerce and Health Care Industry Groups

Abstract

     This survey research aimed to study factors influencing earnings per share (EPS) of listed companies in the Stock Exchange of Thailand, focusing on financial and service industry groups. The study examines relationships between current ratio, debt-to-equity ratio, total assets turnover ratio, and earnings per share. The sample consists of 206 listed companies during 2023-2024, totaling 412 observations, divided into 71 financial companies (34.5%) and 135 service companies (65.5%). Research instruments include secondary data from audited financial statements. Statistical analysis comprises descriptive statistics, Pearson's correlation analysis, and multiple regression analysis.

     Results reveal that debt-to-equity ratio has a significant positive relationship with EPS at 0.05 level (β = 0.240, Sig. = 0.011), while current ratio and total assets turnover ratio show no significant relationships. The model explains 2.6% of EPS variance (Adjusted R² = 0.026).