The impact of sustainability ratings on dividend payouts and firm performance of listed companies in the Stock Exchange of Thailand
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Abstract
This research examines the impact of sustainability ratings on dividend payments and operational performance of companies listed on the Stock Exchange of Thailand. The sample consists of 584 listed companies over the period 2023–2024, yielding 1,168 firm-year observations. The data are analyzed using descriptive statistics and multiple regression analysis based on the Random Effect Model (REM). The results indicate that sustainability ratings have a statistically significant positive effect on dividend payments. Among the control variables, the debt-to-equity ratio, representing firms’ financial leverage, positively influences dividend payments. In examining the impact of sustainability ratings on operational performance, the findings indicate that the company’s sustainability rating has a statistically significant positive effect on return on equity (ROE), which reflects the firm’s operational efficiency. Among the control variables, the book value per share is found to have a positive influence on the operational performance of the company.
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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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