Author(s): Wanpen Klinphanich, Kittisak Jermsittiparsert, Muhammadiyah Makassar
This study aimed to investigate the influence of firm performance on corporate governance and tax planning of listed companies in the Stock Exchange of Thailand. The population of this study was 200 companies. Structural Equation Model (SEM) was used as an analysis model to determine parameters from the analysis of validity and reliability. The researcher prepared a paper to measure corporate governance report and corporate social responsibility disclosure. Data were collected from annual report (Form 56-1), annual financial statements, and notes to financial statements and corporate governance reports in the accounting period of 2019 to estimate the score of corporate governance report. The results of this study indicated that total debt to total assets/leverage (LEV) had a direct negative influence on Corporate Governance (CG) with an influence coefficient of -0.03 with a statistical significance level of 0.05 and had a positive direct influence on tax planning (ETR) with an influence coefficient of 0.14 with a statistical significance level of 0.05. However, leverage (LEV) had no indirect influence on a latent variable of tax planning (ETR). Return on Assets (ROA) had a direct positive influence on Corporate Governance (CG) with an influence coefficient of 0.01 with a statistical significance level of 0.05 and a negative direct influence on tax planning (ETR) with a coefficient of influence of -0.03. However, return on assets (ROA) had no indirect influence on a latent variable of tax planning (ETR). In addition, market capitalization (CAP) had a direct negative influence on Corporate Governance (CG) with an influence coefficient of -0.01 and a positive direct influence on tax planning (ETR) with a statistical significance level of 0.05 with an influence coefficient of 0.04. However, market capitalization (CAP) had no indirect influence on a latent variable of tax planning (ETR). Corporate governance (CG) had a direct negative influence on tax planning (ETR) with an influence coefficient of -0.02 with a statistical significance level of 0.01.