คุณภาพกำไรและความยั่งยืนที่มีผลต่อผลการดำเนินงานและต้นทุนทางการเงิน: กรณีศึกษาบริษัทที่ได้รางวัล SET Awards of Honor

Phaithun Intakhan; Kanjana Kuma; Suthira Thipwiwatpotjana; Sonthiya Suwanraj; ทิพยาภรณ์ ปัตถา; Saratchanut Boonvut

Authors

Phaithun Intakhan Accounting Program, Faculty of Management Science, Lampang Rajabhat University
Kanjana Kuma Accounting Program, Faculty of Management Science, Lampang Rajabhat University
Suthira Thipwiwatpotjana Accounting Program, Faculty of Management Science, Lampang Rajabhat University
Sonthiya Suwanraj Accounting Program, Faculty of Management Science, Lampang Rajabhat University
ทิพยาภรณ์ ปัตถา Accounting Program, Faculty of Management Science, Lampang Rajabhat University
Saratchanut Boonvut Accounting Program, Faculty of Management Science, Lampang Rajabhat University

Keywords:

earnings quality, financial performance, finance costs, Thailand Sustainability Investment (THSI), SET Award of Honor

Abstract

This research aims to: 1) examine the influence of earnings quality (EQ) on financial performance, and 2) investigate the relationship between inclusion in the Thailand Sustainability Investment (THSI) list and the reduction in the cost of debt among companies recognized with the SET Award of Honor. Utilizing a quantitative research methodology, the study collected secondary panel data from a sample of 49 SET Award of Honor recipients. Data analysis was conducted using descriptive statistics and regression analysis. The empirical results reveal that earnings quality has a statistically significant positive influence on earnings per share (EPS) at the .01 level. This indicates that firms with robust cash flows supporting asset investments are capable of achieving strong and sustainable growth in returns. Furthermore, the THSI listing significantly negatively impacts the cost of debt at the .05 level. These findings suggest that investors should employ earnings quality and ESG (Environmental, Social, and Governance) metrics as screening criteria for value stocks. Additionally, the study provides a strategic framework for executives to enhance corporate value maximization.

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