Firm Characteristics Influencing Growth Opportunities: Empirical Evidence From The Emerging Market Of Thailand
This study examines the firm characteristics that affect growth opportunities of Thai listed firms. The firms’
growth opportunities in the emerging market are important as those firms need more capital to raise future investment;
however, Thai firms experience severe agency problems due to weak legal investor protection and ownership concentration.
This study finds that Thai firms with higher information asymmetry and larger market share tend to have lower growth
opportunities. However, the findings further show that investors expect higher growth for firms with higher stock liquidity
and larger size.
Key words: Growth Opportunities, Emerging Market