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

Dararat Phoprachak and Theenida Buntornwon
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Dararat Phoprachak: Rajamangala University of Technology Suvarnabhumi (RMUTSB)
Theenida Buntornwon: Northeastern University

A chapter in Responsible Business in a Changing World, 2020, pp 159-170 from Springer

Abstract: 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.

Date: 2020
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DOI: 10.1007/978-3-030-36970-5_9

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