Level of environmental disclosure and corporate governance affecting the performance of companies listed on the Stock Exchange of Thailand, property and construction group

Abstract

The research objective is to study the relationship between environmental disclosure levels, corporate governance, and the performance of companies listed in the Real Estate and Construction group on the Stock Exchange of Thailand. It was conducted by collecting information from the financial statements, the annual reports, and the information registration forms (Form 56-1) of 91 companies from 2015 to 2019. Descriptive statistics and inferential statistics were used in data analysis, including correlation analysis and multiple regression analysis. The study results showed that environmental disclosure levels, including environmental policy disclosure and other environmental disclosures, positively correlate with the rate of return on equity, return on total assets with a statistical significance at 0.01 and 0.05 levels. Corporate governance, including the percentage of shareholding by the management and the number of the Board of Directors, positively correlates with the return on total assets, with a statistical significance at 0.01 and 0.05 levels.