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Influence of Firm Size on the Environmental Disclosure and Performance of the Listed Companies on the Stock Exchange of Thailand

In: Responsible Business in a Changing World

Author

Listed:
  • Dararat Phoprachak

    (Rajamangala University of Technology Suvarnabhumi (RMUTSB))

  • Theenida Buntornwon

    (Northeastern University)

Abstract

The aim of this research is to investigate the relationship between environmental disclosure and financial performance of different firm sizes listed on the stock exchange of Thailand. This was achieved through the multiple indicator and multiple cases model (MIMIC) of 402 companies listed on the stock exchange of Thailand. The findings reveal that firm size influences the environmental disclosure (ENVD) of firms. Furthermore, environmental disclosure has a positive effect on firm performance, with a significance level of 0.01 and correlation coefficient of 0.51. The analysis of firm size in this study indicates that small-sized (SIZES) firms have low levels of environmental disclosure. The statistical result indicates that the environmental disclosure mechanism of small-sized firms has an indirect, negative effect on financial performance, with a significance level of 0.01 and correlation coefficient of 2.36. In comparison, medium (SIZEM) and large-sized (SIZEL) firms are increasingly trending towards environmental disclosure. The statistical result indicates that the effect of size on environmental disclosure in medium and large companies has an indirect, positive effect on firms’ financial performance, with a significance level of 0.01 and correlation coefficient of 1.00 and 2.35 respectively. The findings of this research are expected to increase opportunities for firms of various sizes (as listed on the Stock Exchange of Thailand) to improve financial performance through the use of environmental disclosure.

Suggested Citation

  • Dararat Phoprachak & Theenida Buntornwon, 2020. "Influence of Firm Size on the Environmental Disclosure and Performance of the Listed Companies on the Stock Exchange of Thailand," CSR, Sustainability, Ethics & Governance, in: Belén Díaz Díaz & Nicholas Capaldi & Samuel O. Idowu & René Schmidpeter (ed.), Responsible Business in a Changing World, pages 159-170, Springer.
    • Handle: RePEc:spr:csrchp:978-3-030-36970-5_9
    DOI: 10.1007/978-3-030-36970-5_9
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    Cited by:

    1. Parvez Alam Khan & Satirenjit Kaur Johl & Shireenjit K. Johl, 2021. "Does adoption of ISO 56002‐2019 and green innovation reporting enhance the firm sustainable development goal performance? An emerging paradigm," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 2922-2936, November.

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