The Relationship between tax planning & performance and the stock prices & dividend payment of companies listed on the stock exchange of Thailand, set 100 group

Abstract

This research aims to study the relationship between tax planning & performance and the stock prices & dividend payments of companies listed on the Stock Exchange of Thailand, SET100 group. It was conducted by collecting information from financial statements, annual reports, and the information registration forms (Form 56-1) of 69 companies from 2015 to 2019. Descriptive statistics and inferential statistics were used for data analysis, including correlation analysis and multiple regression analysis. The study results show that the return on equity ratio (ROE), book value per share (BV), and earnings per share (EPS) ratio positively correlated with the stock prices. The corporate income tax rate to total assets (TAX/ASSETS), the return on total assets (ROA), the return on equity (ROE), and the book value per share (BV) ratio were positively correlated with the dividend yield (DY) ratio. The earnings per share (EPS) ratio had a negative correlation with the dividend yield (DY) ratio, and the effective corporate income tax (ETR) ratio had a positive correlation with the dividend payout ratio (DP) with a statistical significance at 0.01 and 0.05 levels.