Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/328645 
Year of Publication: 
2023
Citation: 
[Journal:] Economies [ISSN:] 2227-7099 [Volume:] 11 [Issue:] 1 [Article No.:] 18 [Year:] 2023 [Pages:] 1-12
Publisher: 
MDPI, Basel
Abstract: 
This study analyzes the effects that certain political-uncertainty factors have on financial firm performance in the Stock Exchange of Thailand (SET). The results of a panel regression performed on a database of 7976 firm-years over 18-year unbalanced panel data from 2001 to 2018 show a mixed relationship between political uncertainty and firm performance. The constitutional reform harms the return on assets (ROA), and the government election and political protest significantly decreased the market value of equity (MVE). In contrast, constitutional reform increased MVE, and the government election positively impacted ROA. Therefore, this study emphasizes how political unpredictability is assumed to influence firm performance in Thailand's economy, an Asian developing country.
Subjects: 
financial performance
firm-level performance
market value of equity
policy uncertainty
political uncertainty
return on assets
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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