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CEO Characteristics, Ownership and Sustainability
Performance: Evidence from Thailand

 

 

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Received:
October 7, 2025

Revised:
November 21, 2025

Accepted:
December 18, 2025

Dr.Konnut Pugatekaew

Assistant Professor of Department of Accounting,

School of Business and Communication Arts, University of Phayao

(Corresponding Author)

Datsun Somerchue

Lecturer of Department of Accounting,

School of Business and Communication Arts, University of Phayao

 

 

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Keywords:

CEO Characteristics,
CEO Ownership,
Sustainability Performance

ABSTRACT

This study examines the relationship between Chief Executive Officer (CEO) characteristics, ownership, and sustainability performance. The sample comprises companies listed on the Stock Exchange of Thailand (SET) that were assessed for corporate governance and sustainability performance from 2018 to 2023. The dataset consists of 2,952 firm-year observations, and multiple regression analysis was employed. The results indicate that while a CEO’s foreign education is not significantly associated with corporate governance, it is positively related to sustainability performance. In contrast, CEO age and gender show no significant relationship. Regarding ownership structure, the findings reveal that a high proportion of CEO shareholding is negatively associated with both corporate governance and sustainability performance. Furthermore, CEO duality exhibits a negative relationship with the sustainability. However, being a representative of a shareholder group or family is not significantly related to performance in either dimension.

 

 

 

 

HOW TO CITE

 

 

Pugatekaew, K., & Somerchue, D. (2026). CEO characteristics, ownership and sustainability performance: Evidence from Thailand. Journal of Accounting Profession, 22(74), 73-97. https://doi.org/10.14456/jap.2026.8

 

 

 

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