Factors Influencing Stock Prices of the Listed Companies in the Stock Exchange of Thailand and the Market for Alternative Investment
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Abstract
The objectives of this study were to explore the factors influencing the stock prices of listed companies in the Stock Exchange of Thailand (SET) and the Market for Alternative Investment (mai). This quantitative study utilized secondary data from the annual reports during 2017 to 2021, excluding all companies in the financial sector. Using stratified random sampling, a sample of 1,375 firm-years was obtained. The statistical methods used for data analysis included descriptive statistics, correlation coefficient, and multiple regression analysis. The results indicated that the return on assets ratio and firm size had a positive relationship with stock prices, whereas the debt-to-equity ratio had a negative relationship with stock prices. However, no significant relationship was found between stock prices and the gross profit margin ratio, operating profit margin ratio, net profit margin ratio, return on equity ratio, and ages of business. Based on these results, investors can use this guideline for deciding to invest in stocks with a high return on assets ratio, businesses with high asset value, and a low debt-to-equity ratio.
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
ลิขสิทธิ์ของบทความ
ผลงานที่ได้รับการตีพิมพ์ถือเป็นลิขสิทธิ์ของมหาวิทยาลัยหอการค้าไทย ห้ามมิให้นำเนื้อหา ทัศนะ หรือข้อคิดเห็นใด ๆ ของผลงานไปทำซ้ำ ดัดแปลง หรือเผยแพร่ ไม่ว่าทั้งหมดหรือบางส่วนโดยไม่ได้รับอนุญาตเป็นลายลักษณ์อักษรจากมหาวิทยาลัยหอการค้าไทยก่อน
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