This study aims to examine the impact of the capital structure on firm performance for Thai companies. The study samples consist of 428 Thai firms listed on stock exchanges. The data collection period is from 2017 to 2021. This study analyses the linear regression model using panel data. This study’s capital structure uses six independent variables: short-term debt to total assets (STD), long-term debt to total assets (LTD), and total debt to total assets (TD), with asset structure (AST), firm size, and sales growth representing control factors. The result reveals that STD, LTD, and TD have a significantly negative impact on return on assets and return on assets. TD has a significantly negative impact on net profit margin, but STD and LTD have no impact on net profit margin.
PLEASE NOTE: You must be a member of the University of Lincoln to be able to view this dissertation. Please log in here.