Influential Family Equity Characteristics On Returns Of Shareholders Through Sustainability Report

Abstract

Family shareholding and concentrated ownership (CO) might influence returns of profits. This research article aimed to examine sustainability information in annual reports (Form 56-1), financial statements, notes to the financial statements, and sustainability reports in 2018 of 160 Thai-listed companies. Multiple Indicators and Multiple Causes (MIMIC) Model method was employed to test the hypotheses. The results showed that the concentrated ownership (CO) characteristics significantly have a direct influence on a company's sustainability report. A company's environmental performance is found as the most direct influence, followed by social and economic, respectively. The indirect influence has impacts on the return per share in a positive direction. A company’s sustainability reporting has a direct influence on the positive direction of the return per share which social performance has the most influence followed by environment and economic. While the company has a CO, sustainability reporting needs to be well-prepared, and the return per share increases.