Environmental, Social and Governance (ESG) Committees and Performance in Thailand

IF 0.8 Q4 BUSINESS, FINANCE Asian Journal of Business and Accounting Pub Date : 2022-12-31 DOI:10.22452/ajba.vol15no2.7

M. Suttipun, Parnicha Dechthanabodin

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Abstract

Manuscript type: Research paper Research aims: The study aims to investigate the extent and level of environmental, social and governance (ESG) performance of listed companies in Thailand, and test for the relationship between ESG committees and performance. Design/methodology/approach: Using the top 100 Thai listed companies (364 firm-year observations) from the Stock Exchange of Thailand (SET), the corporate annual reports during 2018 to 2021 are used to collect ESG board committee characteristics, while ESG performance is collected and measured by ESG scores from S&P Capital IQ and Capital IQ Pro databases. Descriptive analysis, correlation matrix, and multiple regression are used to analyse the data. Research findings: The average performance score of ESG in Thailand is 29.52. In addition, there was an increase of ESG performance by the top 100 firms in Thailand during the period under study. There is a significantly positive relationship between independent ESG committees and ESG performance, while dual positions between top management and ESG committees is negatively correlated with ESG performance. Theoretical contribution/originality: The findings of the relationship between ESG committees and performance demonstrates that agency theory can be used to explain the factors influencing ESG performance by Thai listed companies.

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泰国的环境、社会和治理(ESG)委员会和绩效

手稿类型：研究论文研究目的：本研究旨在调查泰国上市公司环境、社会和治理（ESG）绩效的程度和水平，并测试ESG委员会与绩效之间的关系。设计/方法/方法：使用泰国证券交易所（SET）的前100家泰国上市公司（364个公司年度观察结果），2018年至2021年的公司年度报告用于收集ESG董事会委员会特征，而ESG绩效则通过标普Capital IQ和Capital IQ Pro数据库中的ESG得分进行收集和衡量。使用描述性分析、相关矩阵和多元回归对数据进行分析。研究结果：泰国ESG的平均绩效得分为29.52。此外，在研究期间，泰国排名前100的公司的ESG绩效有所提高。独立的ESG委员会与ESG绩效之间存在显著的正相关关系，而高管和ESG委员会之间的双重职位与ESG绩效呈负相关。理论贡献/独创性：ESG委员会与绩效关系的研究结果表明，代理理论可以用来解释影响泰国上市公司ESG绩效的因素。

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来源期刊

Asian Journal of Business and Accounting BUSINESS, FINANCE-

CiteScore

2.00

自引率

11.10%

发文量

期刊介绍： An academic journal that aims to advance knowledge in the business and accounting disciplines, to narrow the gap between theory and practice, and to set direction for policy initiatives in Asia. Welcome to the Asian Journal of Business and Accounting (AJBA). AJBA is an international refereed journal, published biannually (30th June and 30th December) by the Faculty of Business and Accountancy, University of Malaya, Malaysia. AJBA aims to publish scholarly business researches that are relevant to Malaysia and the Asian region. It intends to highlight the practical implications in promoting better business decision making process and the formulation of public policy in Asia. This journal publishes theoretical, conceptual, and empirical papers within the broad areas of business and accounting in Asia. The AJBA covers a broad spectrum of the business and accounting disciplines. A suggestive (though not necessarily comprehensive) list of areas that would be included in this journal are: general management, strategic management, human resource management, organizational behaviour, labour and industrial relations, international business management, business communication, entrepreneurship, leadership, management science, operations management, production management, supply chain management, marketing management, brand management, consumer behaviour, information management, e-marketing, e-commerce, quality management, retailing, service marketing, hospitality management, hotel and tourism management, asset pricing, capital and money markets, corporate finance, derivatives markets, finance and banking, financial economics, etc.