Kulwadee Lim-U-Sanno
This article presents a study on effects of company characteristics on R&D disclosure of listed companies in Stock Exchange of Thailand in 173 sampled SET100 companies selected by purposive sampling that had been in the Stock Exchange of Thailand continuously between 2016 and 2018. Data collection is done from the balance sheet, annual report and the annual item list (56-1 form), thus 519 company years can be obtained. Content analysis uses text unit counting on sentences with data and meaning related with R&D from the annual report. The study reveals that (1) the R&D data has been increasingly disclosed since 2016, the year Thailand announced the use of Thailand 4.0 model, and (2) result of multiple regression analysis shows that company size and age of CEO have positive effect on R&D disclosure, while sector and leverage have negative effect on R&D disclosure. Ability to generate profit, auditor type and age of the business has inconclusive relationship. The result can be discussed that content analysis of the financial data in the annual report can be used for disclosure of R&D data, in the same direction with Thailand 4.0 promotion.