The Relationship between Accounting Information and Securities Prices of Listed Companies in the Stock Exchange of Thailand: Medical Index Services Industry

Abstract

The purpose of this research was to study the relationship between accounting information and security prices of listed companies in the Stock Exchange of Thailand. The data collection was conducted using a data recording form from the Stock Exchange of Thailand website, financial statements, and a 56-1 form of 23 listed companies in the Medical Index Service Industry. The research statistics comprised descriptive statistics, i.e., percentage, mean, standard deviation, and multiple regression analysis techniques to analyze the relationship of variables affecting security prices. The results illustrated that the total liabilities had a statistically significant inverse relationship on security prices at the 0.05 level. The total liabilities could be used to predict changes in security prices by 21.2 percent. The total assets, net profit, earnings per share, cash flow from operating activities, and cash flow from financing activities were not statistically significantly related to security prices because the increasing of debt compared to equity affecting security prices would be lower.