This study attempts to highlight gaps in existing Thai studies on CSR
disclosure. These gaps are: (1) Thai studies on CSR disclosure and its relationship
with financial performance research are still limited; (2) a few extant studies were
conducted in the early 2000s when CSR disclosure was not a common practice (3); a
number of studies also focused on specific industries but with an involvement using
only small sample size; (4) only a very few studies have investigated the relationship
between CSR and financial performance of Thai companies, and (5) a number of
Thai studies on CSR in the post-global-financial crisis period are fairly limited.
Based on the above, this study intends to investigate the extent of disclosure of CSR
practices amongst Thai public companies. It will also examine the interactions
between CSR disclosure levels and financial performance. This examination is
undertaken using data collected from the annual reports of firms listed on the Stock
Exchange of Thailand (SET) over the years 2009 to 2011.
This study makes further contributions to the literature in several areas.
Firstly, this study is expected to contribute to a further understanding of the practices of CSR disclosures in Thailand. Secondly, this study is also considered to be the first
comprehensive examination of the relationship between CSR disclosure and financial
performance of firms listed on the Stock Exchange of Thailand (SET). Thirdly, this
study is expected to contribute to enhancing understanding of management theories
in clarifying CSR disclosure, especially in regards to stakeholder theory and
legitimacy theory underlying CSR disclosure of firms in Thailand context. Fourthly,
this study makes a significant methodological contribution to CSR disclosure studies
in Thailand by applying CSR index. Finally, this study is expected to strengthen the
quality of future research on CSR disclosure and financial performance in Thailand.
This structure of this study is organised into eight chapters. The next chapter
presents a review of the literature on CSR disclosure and financial performance.