ความสัมพันธ์ระหว่างการกระจายการลงทุนกับผลการดำเนินงานของบริษัทจดทะเบียนในตลาดหลักทรัพย์แห่งประเทศไทย / ศิรารักษ์ ชลารักษ์ = The relationship between diversification and performance of the companies listed under the Stock Exchange of Thailand / Sirarak Chararak
The purpose of this thesis is to study the relationship between diversification and the level of performance of the companies listed under the Stock Exchange of Thailand during 2000-2002. To compare the relationship between diversification and performance, the population are divided into 2 group : manafacturing firms and servicing firms. The diversification is divided into proportion of diversification by computing Specialization Ratio and level of related and unrelated diversification by computing Entropy Index. The performance is measured by return on total asset. The statistical methods used for analysis and the empirical tests are Percent, Arithmetic Mean, Standard Deviation and Multiple Regression Analysis. The results show that there are significant positive associations between the proportion of diversification and level of performance of manufacturing and servicing firms, that is, the companies with increase proportion of diversification lead to the higher level of performance. As for the level of related diversification, there is significant positive association between the level of related diversification and the level of performance for the servicing firms. In addition, most of the companies which are classified as small to medium size have low proportion of diversification due to their limited capital funding. The companies listed have diversify more in related businesses than unrelated ones. Diversification in the unrelated businesses is more risky and difficult to manage efficiently especially when the executives have no expertise in those unrelated businesses.