The influence of corporate governance, and sufficiency economy philosophy disclosure on corporate financial performance

Abstract

Purpose -The purpose of this paper is to investigate the nature and level of Sufficiency Economy Philosophy (SEP) disclosure in the annual reports of companies listed in the Stock Exchange of Thailand (SET), to test the influence of corporate governance on SEP disclosure, and to examine the influence of corporate governance, and SEP disclosure on corporate financial performance. Design/methodology/approach -By simple random sampling, 235 out of 569 companies in the SET were selected as the study sample. Content analysis by word count was used to explore the nature and level of SEP disclosure in the 2015 annual reports. Descriptive analysis and path analysis were used to analyze the data. Findings -The results indicated that the average level of SEP disclosure in the 2015 annual reports was 1,235 words. The most common theme of SEP disclosure was morality disclosure following by reasonableness, self-immunity, knowledge, and moderation disclosures. There was a positive significant influence of firm size on level of SEP. Moreover, there was a positive significant influence of the level of SEP, and the size of committee on corporate financial performance. Originality/value -The findings shed light on the SEP as developed by his Majesty the King Bhumibhol Adulyadej in the Thai setting. The study also endeavored to validate the relevance and applicability of the SEP concept to the sustainable development of the business sector.

Ethical Practice Disclosure of Malaysian Public Listed Companies

“…Sustainability practices can be seen as tools to reduce conflicts of interest (Suttipun, 2018). Balancing the interests of the stakeholders and shareholders through sustainability practices creates value for companies (…”

Impact of Application of Sufficiency Economy Philosophy on the Well‐Being of Thai Population: A Systematic Review and Meta‐Analysis of Relevant Studies

“…Wibulswasdi, Piboolsravut, and Pootrakool (2012) explained two major types of applications of the SEP concept: (a) way of life, where SEP can be employed as a guiding principle to answer real life questions, such as how we should act, which items we should buy, and how we should live our lives to achieve a self-sufficient lifestyle; (b) large scale agricultural and community development, business practices, and government policies. Recent studies acknowledged the relevance and applicability of the SEP concept in Thailand to achieve sustainable development of the business sector (Suttipun, 2018). Kittiprapas (2016) emphasized the core concept of true sustainable development which is understanding the interdependence of all beings and nature for the overall well-being of humanity.…”

The Effects of Corporate Governance on Company Performance and Dividends in Three Asean Countries

“…Corporate governance has three objectives: accountability, supervision of financial reports, and increasing value for shareholders (Koh, Laplante, & Tong, 2007). Accountability and supervision of financial reports will result in better transparency and disclosure of information, thereby reducing conflicts of interest between shareholders and top management (Suttipun, 2018). This will have an impact on all shareholders being able to access important information so that the result can be an increase in company value (Velnampy, 2013).…”

“…Companies with good governance will try to protect the interests of stakeholders. Governance itself can be reflected in various ways, that is the composition of the board of commissioners (Al Farooque, Buachoom, & Sun, 2020;Buallay, 2019;Kowalewski, 2016;Puni & Anlesinya, 2020;Saidat, Silva, & Seaman, 2019;Suttipun, 2018) and the ownership structure (Buallay, 2019;Kabir & Thai, 2017;Puni & Anlesinya, 2020;Saidat et al, 2019). Studies on corporate governance related to the composition of the board of commissioners can be in the form of the size of the board of commissioners and the presence of independent commissioners and female commissioners.…”