ปัจจัยทางเศรษฐกิจและอัตราส่วนทางการเงินที่มีอิทธิพลต่อ ดัชนีราคาตลาดหลักทรัพย์แห่งประเทศไทย: กรณีศึกษากลุ่มอุตสาหกรรมทรัพยากร
Abstract
This research aims to investigates the economic and financial factors influencing the Stock Exchange of Thailand (SET) index, with a particular focus on the resource industry sector, which holds the highest trading value in the SET. The study examines the impact of price-to-earnings ratio (PE), price-to-book value (PBV), oil prices (OIL), gold prices (GOLD), and the Thai baht to US dollar exchange rate (EXC) on the resource industry sector index using monthly secondary data from January 2019 to December 2023 (a 5-year period encompassing 60 months). This research utilized SPSS software to analyze the data, employing multiple regression analysis techniques.
The findings reveal that oil prices exert the most significant influence on the resource industry sector index, followed by PBV and gold prices. All three variables demonstrate a statistically significant relationship with the index at the 0.01 level. In contrast, neither the PE ratio nor the exchange rate were found to have a significant impact on the index. These results align with previous research, which suggests that higher oil prices negatively affect stock prices due to increased costs for businesses in the resource industry. Additionally, PBV, as an indicator of company performance, influences investor decisions. While gold prices show a negative relationship with the stock index, this relationship is complex and contingent upon other economic and financial factors.
This study contributes to a deeper understanding of the factors influencing the resource industry sector index, providing valuable insights for both investors and policymakers. It also serves as a foundation for future research to explore additional factors that may impact the stock index or examine the effects of these factors on other industries or time periods
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