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Abstract:
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This independence study has objectives to study overall relationship between finance ratio such as Price-Earnings Ratio: P/E, Price-Book Value: P/BV, Return on Common Equity (ROE), and Dividend Yield (DY) of industrial group and the changing in Stock Exchange of Thailand index in 8 industrial group. The study data is using the time series data since first quarter of 2012 to fourth quarter of 2016 which total is 5 years or 20 quarters.
An analysis of Seemingly Unrelated Regression (SUR) found that the Price-Earnings Ratio: P/E effect to the changing in industrial group index of agriculture and food group, consumer goods group, financial group, industrial goods group and SET index are move in the same direction. In part of Price-Book Value: P/BV effect to the changing in industrial group index of consumer goods group, resource group, technology group and SET index are move in the same direction. Return on Common Equity (ROE), effect to the changing in industrial group index of industrial goods group and SET index are move in the same direction. And Dividend Yield (DY) effect to the changing in industrial group of agriculture and food group, financial group, Real Estate and construction group, resources group, services group, technology group and SET index are move in the same direction.
Keyword: Financial Ratios, The Stock Exchange of Thailand Index
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