ความสัมพันธ์ของกลยุทธ์การเงินกับผลการดำเนินธุรกิจของบริษัทจดทะเบียนในตลาดหลักทรัพย์แห่งประเทศไทย ระหว่างปี พ.ศ.2545-2554

Abstract

This independent study aimed to study the relationship between financial strategies and corporate performances of listed companies in The Stock Exchange of Thailand. This study focused on the relationship between financial strategies which consisted of growth strategies measured by sales growth and growth potential measured by price per book value, liquidity strategies measured by liquidity ratio and corporate performance which consisted of return on common equity and free cash flow per share. The data used in this study were from the annual report and financial statement of 191 listed companies in the SET during 2002–2011 on yearly basis. The statistical method for analyzing the data was multiple regression. The findings showed that sales growth, growth potential, and liquidity affected in the positive direction to return on common equity at a significant level of 0.05. Moreover, debt ratio and firm size affected in the negative direction to return on common equity at a significant level of 0.05.The findings showed growth potential, liquidity and firm size affected in the positive direction to free cash flow per share at a significant level of 0.05. Moreover, sales growth and debt ratio affected in the negative direction to free cash flow per share at a significant level of 0.05.