ผลกระทบของการบังคับให้เปิดเผยและให้ความเชื่อมั่นต่อข้อมูลที่ไม่ใช่ข้อมูลทางการเงิน ที่มีต่อการตัดสินใจของนักลงทุน

Abstract

This independent study aimed to examine impact of mandatory nonfinancial disclosure and assurance on investor judgments. This experiment research employed 2 x 2 + 1 mixed design method to study impacts of 2 independent variables i.e. 1) types of nonfinancial disclosure: Voluntary Disclosed and Mandatory Disclosed; and 2) types of nonfinancial data assurance: Voluntary Assured and Mandatory Assured along with 1 controlled group: Not Disclosed and Not Assured. This study were conducted under 5 conditions in total. Investor judgments were measured from investment intention and confidence in information provided in the report. Samples of this study consisted of 150 graduate students of the master's degree in Business Administration and Accounting program and the 4" year undergraduate students of the Faculty of Business Administration, Chiang Mai University. Questionnaires were used as the tool to collect data. One student would take a set of questionnaires for one condition. The questionnaires were distributed randomly to the respondents. Data obtained were analyzed by the descriptive statistics: frequency, percentage, and mean; and the inferential statistics: One-Way ANOVA. Then, the Post Hoc Multiple Comparisons was applied in order to compare the differences of mean values in pair. Results of the study showed that in terms of investment intention, the respondents intended to invest in an entity under each condition differently at statistical significance; but their highest level of investment intention was for an entity with voluntary disclosed and voluntary assured. In comparing to other conditions, the respondents under the condition of being ready for investment would rather invest in an entity with voluntary disclosed and voluntary assured. However, in comparing to other conditions, the respondents had the least intention to invest in an entity with the condition of mandatory disclosed and mandatory assured. In terms of confidence in information provided in the report, the respondents had different levels of confidence in information provided in the report at statistical significance; but their highest level of confidence was for an entity with mandatory disclosed and voluntary assured. However, they had the least confidence in information provided in the report of an entity with mandatory disclosed and mandatory assured. The findings suggested that to force an entity to take mandatory disclosed and mandatory assured would cause more negative effects on investor judgment than to allow an entity to take voluntary disclosed and voluntary assured.